Global Syngas & Derivatives Market-
Industry Analysis and Forecast (2020-
2027) – by Production Technology,
Gasifier Type, Feedstock, Application,
Global Syngas & Derivatives Market is expected to reach
611,133 MWth by 2027, at CAGR of 13.2% during forecast
period of 2020 to 2027.
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Global Syngas & Derivatives Market Overview:
A product obtained by the process of gasification is syngas
and the core application of syngas is generating electricity.
Synthesis gas is known as syngas which is a fuel gas that
mainly consists of hydrogen, carbon monoxide and some
amount of carbon dioxide. Syngas is always assumed as the
best option for the liquid and gaseous fuel production. The
growth in the fuel and electricity applications, global
urbanization, new oil and gas reserves, availability of natural
gas and gas reserves and the developments in the
infrastructure are increasing demand for syngas & derivatives.
The report study has analyzed revenue impact of COVID -19
pandemic on the sales revenue of market leaders, market
followers and market disrupters in the report and same is
reflected in our analysis.
Global Syngas & Derivatives Market Dynamics:
An increase in the demand for electricity and fuels are
expected to drive the growth in the syngas and derivatives
market. The rise in environmental concern is one of the key
drivers for the growth of the syngas & derivatives market.
New production plants of syngas are being constructed
worldwide along with the rising Polygeneration, which is the
key aspect that is driving the syngas and derivatives market.
The syngas is extensively used application areas like chemical
production, which includes methanol, oxo-chemicals,
ammonia, dimethyl ether, and hydrogen. Methanol is further
used to produce derivatives like, olefins and formaldehyde.
An increase in the use of derivatives in various industrial
applications is expected to drive growth in the market.