Enjoy complimentary customisation on priority with our Enterprise License!
The coal gasification market size is estimated to grow at a CAGR of 16.25% between 2023 and 2028. The market size is forecast to increase by USD 14.02 billion. The accelerated growth of the market is due to various factors, including the rise in global energy demand, the increasing government support for coal gasification, and the economic benefits of coal gasification.
The report includes a comprehensive outlook on the Coal Gasification Market, offering forecasts for the industry segmented by Application into chemicals, fuels, and power. Additionally, it categorizes Type into Moving bed, fluidized bed, entrained bed, and molten bed and covers Geography regions, including APAC, Middle East and Africa, North America, Europe, and South America. The report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the coal gasification market growth is the rise in global energy demand. As per the IEA, there was a significant growth in global energy demand in the past decade due to robust economic growth. In addition, the demand for chemical products has been increasing substantially over the past two decades. Furthermore, the demand for chemical products is primarily driven by the demand for nitrogenous fertilizers and plastics.
Moreover, there has been a tremendous growth in the demand for electricity across the world. For instance, as per the global electricity demand increased two-fold during the past two decades. In addition, by 2040, global energy demand is expected to grow by more than 25%. Hence, the e growth in population and economic activities is expected to positively impact the market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the coal gasification market growth is the rise in global coal production. Coal is considered as one of the prominent sources of energy globally and has been dominating the global energy mix due to its abundance, affordability, and widespread distribution across the world. In addition, regions including Asia and Southern Africa have significant coal reserves. For instance, as of 2021, China was the largest coal producer in the world, followed by the US.
Moreover, China is the worlds largest producer of coal and lignite in the world. In addition, the relaxation of coal import restrictions in China stimulated global coal production, particularly in Indonesia and the US. Furthermore, coal production has also been growing in countries such as Russia and India, which is in line with the focus of the respective governments on lowering the dependence on coal imports. Hence, such factors are driving the market growth during the forecast period.
High competition from alternative sources are one of the key challenges hindering the coal gasification market growth. Even though syngas generated from coal gasification are primarily used for applications such as chemicals, liquid fuels, and power, there is stiff competition for syngas from other sources of energy in each of these application areas. For instance, the increasing focus on adopting clean energy sources for power generation has resulted in a significant rise in the demand for harnessing renewable energy sources.
Moreover, renewable energy sources include solar, wind, hydropower, geothermal, biomass, and waste. In addition, the share of renewables is further expected to grow to 47% by 2030. Furthermore, policymakers are increasingly focusing on auctions not only because of their competitive pricing but also because they enable volume control and support the cost-effective deployment of renewable energy sources. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Coal Gasification Market Customer Landscape
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.
Air Liquide SA: The company offers coal gasification through its Rectisol syngas purification technology.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 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 chemicals segment is estimated to witness significant growth during the forecast period. There is an increasing adoption of chemical products in modern society with the expansion and use of plastics, rubber, and synthetic textiles. In addition, chemical products enhance other bulk materials such as metal and timber by offering protective (varnish) or decorative (paint) coatings. Furthermore, combinations of plastics are used in an array of electronic equipment, which is increasingly displacing paper as a medium of information in the digitized world.
Get a glance at the market contribution of various segments Download the PDF Sample
The chemicals segment was the largest segment and was valued at USD 3.64 billion in 2018. Moreover, agricultural systems depend extensively on chemicals in the form of fertilizers and other agrochemicals to maintain output levels. In addition, gasification is an environment-friendly process of converting raw materials like coal into chemicals. Furthermore, the gases produced through coal gasification are used as a feedstock in the petrochemicals sector as well as to manufacture various chemical products. In addition, countries such as China and South Africa, which are significant consumers of chemicals such as polyvinyl chloride and polyolefins, are moving toward coal gasification technology due to the rising concerns over air pollution caused by burning coal and other raw materials. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 78% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Several countries such as China and India rely extensively on coal to meet their energy demand which is contributing to the market growth in the region. In addition, China has been the largest coal producer in the world since 1985. Therefore, coal plays a significant role in China's energy mix.
Moreover, the coal-to-ethanol plant in Indonesia has enabled the country to meet the rising demand for affordable, high-quality, locally sourced, and safe liquid transportation fuels. In addition, high-octane fuel ethanol enables improvements in air quality by reducing the emissions of particulate matter (PM) nitrogen and sulfur oxides. Therefore, the syngas derived from coal have allowed Indonesia to meet the country's energy demand, especially with regard to liquid fuels, thus simultaneously reducing the dependence on imports. Hence, such factors are driving the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global coal gasification market witnessed a significant slowdown due to the decline in demand for coal gasification from consumers and manufacturing industries in APAC. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of demand from manufacturing units. Such factors are expected to drive the market during the forecast period.
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 2018 to 2028.
Coal Gasification Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.25% |
Market Growth 2024-2028 |
USD 14.02 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.75 |
Regional analysis |
APAC, Middle East and Africa, North America, Europe, and South America |
Performing market contribution |
APAC at 78% |
Key countries |
US, South Africa, China, Australia, and Indonesia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Air Liquide SA, Air Products and Chemicals Inc., Basin Electric Power Cooperative, CASE GROUP, Chiyoda Corp., Ergo Exergy Technologies Inc., Johnson Matthey Plc, KBR Inc., Larsen and Toubro Ltd., McDermott International Ltd., Mitsubishi Heavy Industries Ltd., Regius Synfuels Ltd., Sasol Ltd., SEDIN Engineering Co. Ltd. CNCEC, Siemens AG, Swan Hills Synfuels LLP, Synthesis Energy Systems Inc., thyssenkrupp AG, and Oil and Natural Gas Corp. Ltd. |
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, and Market condition analysis for the forecast period. |
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. |
We can help! Our analysts can customize this market research report to meet your requirements.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.