North America Syngas Market

North America Syngas Market Analysis

The North America Syngas Market is expected to register a CAGR of greater than 8% during the forecast period.

• High capital investment and funding is likely to hinder the market's growth.
• Development of underground coal gasification technology is likely to create opportunities to the market growth in the future.
• United States is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.

North America Syngas Market Trends

Increasing Usage in Power Generation Industry

• The power industry is the backbone of the industrial sector that supplies essential energy to industrial, commercial, manufacturing, and residential customers.
• Synthesis gas plays a huge role in power generation, as it is used as an intermediate in creating synthetic natural gas (SNG), which has various application, such as:
• IGCC plants use gasifiers that convert coal or any other carbon-based materials to syngas, which is used in driving a combined cycle turbine to generate electricity. IGCC plants can achieve efficiencies of 45% and have low emissions, since the fuel is cleaned before it is fired in the gas cycle turbine.
• Biogas, which is a form of renewable energy, can be obtained through thermochemical gasification of synthetic gas.
• Gasification and pyrolysis processes produce a combustible synthetic gas that can either be used to produce electricity, or further refined and upgraded for direct generation in a gas turbine or engine.
• The aforementioned factors have been boosting the demand for syngas in the region, in the recent times.

United States to Dominate the Market

• United States is the world's largest and most powerful economy in the world. Secondary units, supporting heavy crude oil processing and production of ultra-low sulfur diesel and gasoline, including thermal cracking (coking), catalytic hydrocracking, and hydro treating, also, registered a significant increase.
• The thermoelectric power plants in the United States use about 160 billion gallon of water per day, for cooling purposes. There are around 1,740 natural gas-fired power plants, about 511 coal-fired power plants, 99 nuclear power reactors, and 1,098 oil-fired power plants in the United States. This scenario is boosting the demand for syngas in the country.
• Going forward, there is a dip in the number of oil-fired and coal-fired power plants, but the number of natural gas-fired power plants are projected to increase in the country.
• With increasing demand from various end-user industries, the market for syngas is also expected to grow during the forecast period.

North America Syngas Industry Overview

The North America syngas market is fragmented in nature. Key players in the market include Air Products and Chemicals, Inc., Linde plc, Air Liquide, and Sasol, among others.

North America Syngas Market Leaders