Syngas and Derivatives Market
REPORT DESCRIPTION
Syngas and Derivatives Market - Global Industry Analysis , Size , Share , Growth , Trends , and Forecast 2016 - 2024
A new study by Transparency Market Research ( TMR ) states that the degree of competition between BASF SE , Air Liquide SA , Sasol Ltd ., and The Linde Group defines the competitive landscape of the global syngas and derivatives market . Over the coming years , the rivalry between these players is likely to increase substantially due to their rising involvement in mergers , acquisitions , and partnerships .
According to the research report , the overall consumption of syngas and derivatives which were 115,000 MWth in 2015 , is likely to swell at a healthy CAGR of 9.40 % during the period from 2016 and 2024 and reach 256,605 MWth consumption volume by the end of the forecast period . Biomass gasification is the most applied technology for manufacturing of syngas and derivatives across the world and is likely to remain so over the next few years .
Browse Market Research Report @ http :// www . transparencymarketresearch . com / syngas-derivatives-market . html Global Syngas and Derivatives Market to Remain Dominated by Asia Pacific
In this research report , the worldwide market for syngas and derivatives has also been analyzed on the basis of geography . As per the study , Asia Pacific , the Middle East and Africa , North America , Europe , and Latin America are considered as the main geographical segments of this market . In 2015 , Asia Pacific led the global market with a share of more than 52 %. The regional market is anticipated to retain its dominance over the forecast period , thanks to the availability of coal and natural gas reserves in abundance . The rise in urbanization , infrastructural developments , and the continual discoveries in the field of oil and gas are also projected to support the Asia Pacific market for syngas and derivatives over the forthcoming years .
The market for syngas and derivatives in the Middle East and Africa , which stood second in 2015 , is anticipated to maintain its position in the near future , owing to the augmenting usage of syngas for the generation of power electricity . On the flip side , the markets in North America , Latin America , and Europe are predicted to witness a sluggish rise over the years to come , notes the market study .
Concerns over Limited Number of Fossil Fuel Resources to Prompt Shift towards Syngas and Derivatives
The increasing concerns over the finite number of fossil fuel resources , coupled with the rising level of pollution caused by them in the atmosphere , has fueled the need to reduce the dependency on them . “ With syngas emerging as a promising alternative to fossil fuel , its demand has swelled substantially , resulting in a significant rise in the global market for syngas and derivatives ,” says a TMR analyst .
Transparency Market Research
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