LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global syngas market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global syngas market will grow at a CAGR of around 18% during the forecast period. The flexibility in feedstock is a major factor driving the market’s growth.
Syngas can be produced from a variety of feedstock such as coal, petcoke, natural gas, and biomass. This flexibility decreases the dependency on a raw material for syngas production. Furthermore, the commercially available gasifiers are technologically advanced and possess the ability to process multiple feedstocks for syngas production. The gasification feedstock is chosen based on its availability and economic viability.
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In this report, Technavio highlights the increasing use of UCG as one of the key emerging trends driving the global syngas market:
Increasing use of UCG
Coal gasification is an aboveground process. UCG is an in-situ gasification process that converts coal into syngas. The process takes place in underground coal seams and brings the syngas to surface through production wells. The technology comprises drilling two wells, an injection well for pumping in air or oxygen to the coal deposits, while the other well collects the produced syngas at the surface. The actual gasification process takes place 1,200 feet below the surface in coal seams. Technological developments in well drilling have permitted the adoption of UCG, which is leading to increased environmental protection and process efficiency.
Underground gasification is advantageous in terms of pressure range and feedstock compared with coal gasifiers. The feedstock need not be mined and brought to the surface or transported to gasification plants that provide substantial cost advantages. Furthermore, there is no need to build a surface plant or mine the coal. This is an economic benefit.
“UCG is also a low-carbon-emitting technology for power generation, and it reduces greenhouse gas emissions by almost one-fifth. The combination of environmental and economic benefits of UCG increases syngas production through this process,” says a senior analyst at Technavio for research on oil and gas.
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Global syngas market segmentation
This market research report segments the global syngas market into the following applications (chemicals and gaseous fuels) and key regions (the Americas, APAC, and EMEA).
The chemicals segment accounted for the largest market share of the global syngas market in 2017. Syngas is used to produce a variety of chemicals such as methanol, dimethyl ether, and ammonia. Natural gas is extensively used to produce methanol that is used to produce formaldehyde, acetic acid, and other chemical intermediates.
In 2017, the global syngas market was dominated by APAC with a market share of more than 72%. APAC was followed by EMEA and the Americas respectively. The market share of APAC is anticipated to increase by approximately 14% by 2022.
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