Chemicals & Fertilizer Application to Dominate Syngas & Derivatives Market Through 2025
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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