According to the research report titled ‘Global Syngas and Derivative Market Size study with COVID Impact, By Feedstock (Coal, Petroleum, Natural Gas and Biomass), by Technology (Partial Oxidation, Steam Reforming, Auto-Thermal Reforming, Biogas Gasification and Combined Reforming) by End User (Chemicals, Power Generation, Liquid Fuels, Gaseous Fuels and Combined Reforming) and Regional Forecasts 2020-2027’ available with Market Study Report, global syngas and derivative market accounted for 277,507 MWth in the year 2019 and is estimated to register a robust CAGR of 12.6% over 2020-2027.
 

For those uninitiated, syngas, also known as synthesis gas, is a combination of hydrogen, carbon monoxide, and some traces of carbon dioxide. Generally derived from feedstock, the fuel gas is primarily used in electricity generation as well as production of liquid & gaseous fuel.
 

As per industry experts, rising demand for agricultural products, electricity, and fuel in tandem with increasing R&D initiatives towards development of major components such as nitrogen and carbon monoxide are bolstering the growth of global syngas and derivative market.
 

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Additionally, growing environmental concerns followed by high adoption of alternative fuel production methods are further stimulating the overall market outlook. In fact, according to a survey of Department for BEIS (Business, Energy & Industrial Strategy), 76% of the residents of UK expressed environmental concerns.   On the contrary, emerging trends of adopting sustainable solutions in order to mitigate carbon emission levels during production processes are impeding the growth of global syngas and derivative market.
 

Based on feedstock, the market is segmented into natural gas & biomass, petroleum, and coal. With regards to technology, the market is divided into combined reforming, biogas gasification, auto-thermal reforming, steam reforming and partial oxidization.
 

Moving on to the end-user spectrum, syngas and derivative market is fragmented into gaseous fuels & combined reforming, liquid fuels, power generation, and chemicals.   
 

From a regional frame of reference, the report claims that Asia-Pacific currently dominates the syngas and derivative market and is estimated to expand continuously over 2020-2027. Factors such as rapid urbanization, increasing infrastructural development, rising discovery of gas and new oil reserves, and increasing accessibility of natural gas are fostering the growth of the regional market.
 

On the other hand, Latin America syngas and derivative market is anticipated to record substantial growth through 2027 due to rising need for electricity and power generation.
 

The companies that hold a strong presence in worldwide syngas and derivative market are GE Power, Siemens AG, Royal Dutch Shell plc, Methanex Corporation, OXEA GmbH, Nippon Steel Corporation, Mitsubishi Heavy Industries, Ltd., BASF SE, Conair Corporation, and KBR, Inc. among others.