Asia-Pacific Syngas Market Size (2024 - 2029)

Asia Pacific Syngas Market Analysis

The Asia-Pacific Syngas Market size is estimated at 125.65 Million metric normal cubic meters per hour (mm nm³/h) in 2024, and is expected to reach 239.24 Million metric normal cubic meters per hour (mm nm³/h) by 2029, growing at a CAGR of greater than 13.5% during the forecast period (2024-2029).

• The Asia-Pacific Sngas market was negatively affected by the COVID-19 pandemic. China was worst hit by the COVID pandemic in the region. The pandemic resulted in the closure of chemical production plants in countries like India and China, thereby affecting the market for syngas. However, the market recovered well after the restrictions were lifted. The market recovered significantly, owing to the rise in consumption of syngas in power generation and chemical industries.
• The growing demand for syngas from the electricity and chemical industry, increasing environmental awareness and government regulations on renewable fuel use, and increasing hydrogen demand for fertilizers are expected to drive the growth of the market.
• The syngas production plant setup requires high capital investment and funding, which is expected to hinder market growth.
• The development of underground coal gasification technology is likely to act as an opportunity in the future.
• China is expected to dominate the market due to the rising demand for syngas in the power generation and chemical industries. It is also expected to register the highest CAGR during the forecast period.

Asia Pacific Syngas Industry Segmentation

Syngas is a gaseous mix containing mainly hydrogen and carbon monoxide, mostly produced from steam reforming and gasification. It can be used to produce chemicals such as ammonia, acetic acid, butanol, methanol, and dimethyl ether. The fertilizer segment mainly consumes ammonia, and methanol and dimethyl ether can be used as fuel.

The syngas market is segmented by feedstock, technology, gasifier type, application, and geography. By feedstock, the market is segmented into coal, natural gas, petroleum, pet coke, and biomass. By technology, the market is segmented into steam reforming, partial oxidation, auto-thermal reforming, combined reforming, and biomass gasification. By gasifier type, the market is segmented into fixed bed, entrained flow, and fluidized bed. By application, the market is segmented into power generation, chemicals (methanol, ammonia, oxo chemicals, n-butanol, hydrogen, and dimethyl ether), liquid fuels, and gaseous fuels. The report also covers the market size and forecasts for the Asia-Pacific Syngas market for five major countries.

 For each segment, the market sizing and forecasts are provided in terms of volume (million metric normal cubic meters per hour (MM NM³/h)).