Market Trends of North America Syngas Industry
This section covers the major market trends shaping the North America Synthesis Gas Syngas market according to our research experts:
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.
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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.
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