Growing fuel and energy demand are expected to drive the growth of global syngas & derivatives market
According to TechSci Research report, “Global Syngas and Derivatives Market By Production Technology, By Gasifier Type, By Feedstock, By Consumption, By Application, By Region, Competition, Forecast & Opportunities, 2025”, global syngas & derivatives market is expected to register significant CAGR through 2025 on account of surging demand for electricity, agricultural products and fuels. In addition to this, construction of many new production plants for syngas in various regions, is also positively influencing the market growth. Moreover, growing use of the derivatives in several industrial applications is further projected to spur the syngas & derivatives market growth across the globe over the coming years. However, there are certain factors which might hampers the market growth in the years to come which includes the high capital investments and time needed to build the operational plant with the installation of hi-tech gasification techniques which is very long.
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Global syngas & derivatives market can be segmented based on production technology, gasifier type, feedstock, consumption, application and region. Considering the application, the market is segmented into chemicals & fertilizer, fuel, and electricity. Among them, chemicals & fertilizer application is anticipated to dominate the market in the upcoming years owing to growing demand for green chemicals for the production and synthesis of chemical intermediates and for manufacturing petrochemicals, oxo chemicals and fertilizers, among others.
Linde PLC, Air Liquide S.A., Air Products and Chemicals Inc., Yingde Gases, Baogas, Sasol Limited, Saudi Aramco, Technipfmc PLC, Messer Group, Haldor Topsoe A/S among others are the leading players operating in global syngas & derivatives market.
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“Asia-Pacific dominated the syngas & derivatives market until 2019 and is forecast to register highest CAGR during the forecast period. This growth is attributable to rising power sources demand combined with accessibility of coal reserves. Moreover, high demand for syngas & derivatives in numerous growing countries like China, Japan and India in applications such as chemicals, electricity and fuel is further anticipated to propel the growth of syngas & derivatives market in the region through 2025. Furthermore, regionally, Asia-Pacific is the largest consumer of end products syngas & derivatives market and provides high growth opportunities for chemical applications, in turn boosting the growth of syngas & derivatives market through 2025”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Syngas & Derivatives Market By Production Technology, By Gasifier Type, By Feedstock, By Consumption, By Application, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global syngas & derivatives market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global syngas & derivatives market.
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