Global Consumption of Syngas & Derivatives is Projected to Reach 146 GW Thermal by 2020
Surging Demand for Fuel & Focus on Food Security Augurs
Well for the Global Syngas & Derivatives Market, According to a New Report
by Global Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size and
demand forecasts on the global Syngas & Derivatives market. Global consumption of Syngas & Derivatives is
projected to reach 146 GW Thermal by 2020, driven by increasing demand in major end-use
applications including transportation fuels, chemical intermediates, and fertilizers,
among others.
Synthesis gas or syngas is
a mix of carbon monoxide and hydrogen along with minor concentrations of
methane and carbon dioxide, and is produced from carbon-containing feedstocks
such as natural gas, coal, and refinery by products. Syngas is an essential constitute for the
manufacture of bulk chemicals, fertilizers, solvents, chemical intermediates,
fuels, and in electricity generation. Syngas is widely used as a fuel in
internal combustion engines, and also as an intermediary in the production of
synthetic natural gas. Given its widespread uses, production of syngas is
significantly impacted by market dynamics in end-use application markets
including energy, liquid fuels, and chemicals, among others.
Increasing use of syngas derivatives,
ammonia and methanol, in applications such as fertilizers and liquid fuels
constitutes a key driving factor in the market. While ammonia with high nitrogen content is used in fertilizer production, methanol is widely utilized
to produce chemicals such as formaldehyde, acetic acid, and dimethyl ether
(DME). Rising demand for methanol in China, owing to the establishment of
methanol-to-olefin and methanol-to-propylene plants, translates into
significant opportunities for the syngas market. The surging global demand for fuel
and electricity, driven by expanding population, migration of population to
urban centers, and increasing use of electronic and electrical appliances, and
rising concerns over global warming and greenhouse gases, are driving focus
onto alternative fuel sources such as syngas. In the coming years,
increasing focus on the renewable energy sector will drive the use of syngas in
fuel production. In addition, syngas derivatives present considerable potential
for use in biodiesel, pharmaceuticals and plastics.
As stated by the new
market research report on Syngas & Derivatives, developing
regions represent the leading markets worldwide. Asia-Pacific and the Middle
East & Africa account for more than two-thirds share of global consumption. Asia-Pacific is set to emerge as the fastest growing market registering
a compounded annual growth rate (CAGR) of 3.2% over the analysis period, driven
by rising production and consumption in China.
Major players covered in
the report include Air Liquide, Air Products and Chemicals Inc., BASF SE, Amec
Foster Wheeler AG, Haldor Topsoe A/S, KBR Inc., KT - Kinetics Technology SpA,
Methanex Corporation, Sasol Limited, SynGas Technology LLC, Technip S.A., The
Linde Group, Royal Dutch Shell Plc, and Yara International ASA.
The
research report titled “Syngas & Derivatives: A Global
Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive
review of market trends, growth drivers, product innovations and strategic
industry activities of major companies worldwide. The report provides market
estimates and projections for all major geographic markets including the US,
Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe),
Asia-Pacific (China and Rest of Asia-Pacific), Middle East & Africa, and
Latin America. The report covers
analytics for the end-use markets - Liquid Fuels, Chemicals, and Others
(Includes Power and Gaseous Fuels).
Comments
Post a Comment