Synthesis Gas Market-Global Trends and Forecast to 2018

What is Syngas ?

Syngas stands for Synthesis gas. Fuel gas mixture comprising of carbon monoxide, carbon dioxide and hydrogen is generally known as syngas. The term "syngas" has evolved from its use as an intermediate in generating synthetic natural gas (SNG) and to create methanol or ammonia. It has 50% of the energy density of natural gas. So syngas is used to produce and synthesize other helpful chemicals. Syngas is also used an intermediate in creating synthetic petroleum to use as a lubricant or fuel. 

Syngas Production Techniques :

The syngas is obtained by gasification of a fuel containing high proportion of carbon to a gaseous product that has specific heating value. The major techniques include :

• Gasification of carbon-rich feedstock (Natural gas, coal, biomass/waste and heavy oil) at high temperature.

• Steam and auto-thermal reformation of coke.

• Waste emissions to energy gasification. 

Syngas Market :

Syngas is gaining  firm stand in worldwide owing to the factors such as huge demand for sustainable energy sources and strict carbon emissions laws which have made the syngas producing companies to look for renewable energy sources to enforce the future activities. 

Classification of Syngas Market :  

 

• Based on Geography :

1. Asia-Pacific (Current leading Market)
2. North America
3. Africa and Middle East
4. Europe
5. South America

• Based on Applications :

1. Chemicals and chemical intermediates
2. Liquid and gaseous fuels
3. Fertilizers
4. Solvents
5. Power generation.

But the major application are in chemicals, liquid fuels, gaseous fuels and power generation .

Source : MarketsandMarkets Analysis

Syngas Market Trends and Forecast:

Syngas manufacturing companies are seeking new renewable sources to produce chemicals and their derivatives to reduce the dependency on the depleting non-renewable resources like crude oil. further more use of waste and biomass for syngas production is trending globally taking into account the environment sustainability.
 
The synthesis gas and and its derivatives market is expected to reach 117,400 MW thermal by 2018 at a Compound Annual Growth Rate of 8.7%. Asia-Pacific is the current leading market in terms of consumption followed by North-America.

For more details, follow the link below :

http://www.prweb.com/releases/syngas-market/10/prweb11260282.htm