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The coal gasification market size is forecast to increase by USD 10.36 and is estimated to grow at a CAGR of 15.73% between 2021 and 2026. The market is experiencing higher demand due to increased global coal production, a growing shift towards clean energy technologies, and a rise in collaborative efforts within the coal gasification sector.
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Rise in global coal production is one of the key coal gasification market trends that is expected to impact the industry positively in the forecast period. Coal has been dominating the global energy mix due to its abundance, affordability, and widespread distribution globally. As of 2021, China was the largest coal producer in the world, followed by the US. Some other major coal-producing countries include Australia, India, and Russia. Also, the relaxation of coal import restrictions in China stimulated global coal production, particularly in Indonesia and the US. Thus, the rising production of coal is expected to boost the growth of the concerned market in the forecast coming years.
Chemical products play a vital role in our modern world, finding applications in various sectors, including plastics, rubber, textiles, electronics, and agriculture. They are used for protective and decorative coatings, as well as in electronic devices. While the demand for chemicals in fertilizers has plateaued in some regions, there's a strong growth trend in the demand for plastics and other chemicals.
However, this extensive use of chemicals has environmental implications, with the chemicals sector expected to contribute significantly to carbon emissions. This necessitates the adoption of cleaner technologies and solutions throughout the supply chain. Coal gasification emerges as an eco-friendly process to produce chemicals from raw materials like coal, particularly in countries like China and South Africa aiming to address air pollution concerns.
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Similarly, Indonesia sees coal gasification as a strategic technology to reduce reliance on imported liquefied petroleum gas (LPG). Synthesis Energy Systems Inc. (SES) has developed its SES Gasification Technology (SGT) to produce clean coal gasification as a natural gas substitute, with successful implementations in China. North Korea is also turning to coal gasification to reduce oil dependence.
Overall, the chemicals segment of the global coal gasification market is set to grow due to increasing chemical demand, the drive for efficient coal use, efforts to reduce carbon emissions, and collaborations fostering technological advancements.
APAC is estimated to contribute 78% to the growth of the global market during the forecast period.
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Market growth in this region will be faster than the growth of the market in other regions. The rising demand for energy, the presence of significant coal reserves, and the rising demand for clean energy technologies will facilitate the coal gasification market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In early 2020, the outbreak of COVID-19 hindered the demand for coal gasification from consumers and manufacturing industries in APAC. Several countries, including China, India, and the Philippines, were under a partial or full lockdown due to the pandemic. However, with the advent of vaccination drives in the region, there was a gradual decrease in the number of COVID-19 cases in the first half of 2021, which led to the lifting of the nationwide lockdown and reopening of manufacturing units, and resumption of the industrial supply chain. Owing to this, the transportation activities in the region, slowly started gaining pace, which led to an increase in gasoline demand. Such factors will have a positive impact on the market, leading to a high growth rate of the coal gasification market in the region during the forecast period.
One of the key factors driving the global coal gasification market growth is the rise in global energy demand. According to the IEA, the demand for chemical products has been increasing substantially over the past two decades, primarily driven by the demand for nitrogenous fertilizers and plastics. Moreover, according to the IEA, global electricity demand increased two-fold during the past two decades. By 2040, global energy demand is expected to grow by more than 25%. The global population is expected to reach over nine billion by 2040. In addition, the demand for energy services like air conditioning is expected to grow, particularly in the residential sector in tandem with the growth in disposable income levels. Such factors are expected to drive market growth during the forecast period.
One of the key challenges to the global coal gasification market growth is environmental concerns. The sulfur content in the coal results in the production of acid gases owing to the high temperatures and low oxygen levels in the gasifier. Similarly, the nitrogen content in coal results in the formation of a small amount of ammonia and hydrogen cyanide. Underground coal gasification mostly takes place deep under the ground in unexposed coal seams. Subsidence resulting due to underground coal gasification processes can have an adverse impact on the groundwater level and flow because of the potentially modified groundwater recharge. Hence, vendors should ensure the efficiency of coal gasification processes and take care not to cause severe environmental damage that could take decades to recover. Such factors may limit the growth of the market in focus during the forecast period.
This coal gasification market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The coal gasification market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Coal Gasification Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Historic period |
2017-2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.73% |
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Market growth 2022-2026 |
USD 10.36 billion |
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Market structure |
Concentrated |
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YoY growth 2021-2022(%) |
15.19 |
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Regional analysis |
APAC, Middle East and Africa, North America, Europe, and South America |
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Performing market contribution |
APAC at 78% |
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Key countries |
US, South Africa, China, Australia, and Indonesia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Air Products and Chemicals Inc., Basin Electric Power Co., CASE GROUP, Chiyoda Corp., Ergo Exergy Technologies Inc., Johnson Matthey Plc, KBR Inc., L Air Liquide SA, Larsen and Toubro Ltd., McDermott International Ltd., Mitsubishi Heavy Industries Ltd., Oil and Natural Gas Corp. Ltd., Oxeye Energy Holdings Ltd., Regius Synfuels Ltd., SEDIN Engineering Co. Ltd.CNCEC, Siemens AG, Swan Hills Synfuels LLP, Synthesis Energy Systems Inc., and thyssenkrupp AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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