Syngas Market in North America by Feedstock and Geography - Forecast and Analysis 2022-2026
Published: Jan 2022 | Pages: 120 | SKU: IRTNTR72174 |
The syngas market share in North America is expected to increase by USD 416.12 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.62%.
This syngas market in North America research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the syngas market in North America segmentation by feedstock (coal, natural gas, petroleum byproducts, biomass, and others) and geography (US, Canada, and Mexico). The syngas market in North America report also offers information on several market vendors, including Air Products and Chemicals Inc., Chiyoda Corp., Dakota Gasification Co., Haldor Topsoe AS, Honeywell International Inc., LAIR LIQUIDE SA, Linde Plc, McDermott International Inc., Sierra Industrial Group, and SynGas Technology LLC among others.
What will the Syngas Market Size in North America be During the Forecast Period?
Download the Free Report Sample to Unlock the Syngas Market size in North America for the Forecast Period and Other Important Statistics
Syngas Market in North America: Key Drivers, Trends, and Challenges
The rising application of syngas is notably driving the syngas market growth in North America, although factors such as complex quality requirements for syngas may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the syngas market industry in North America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Syngas Market Driver in North America
The rising application of syngas is one of the factors supporting the syngas market growth in North America. Syngas has application in many industries such as chemicals, petrochemicals, refining, and fertilizers. It can be used to produce power or can be converted to chemical products through the Fischer Tropsch process. It can be further fermented to produce ethanol, ammonia, methanol, and other chemical building blocks. Furthermore, it is used to produce steel, synthetic natural gas (SNG), and hydrogen. Synthetic natural gas is considered a future fuel and an essential component in the energy transition. Such factors will increase the demand for syngas during the forecast period.
Key Syngas Market Trend in North America
The rising demand for bio-based feedstock is another factor supporting the syngas market growth in North America. The rising demand for renewable sources increases the use of bio-based feedstock to produce syngas. Renewable syngas will alleviate the exploitation of fossil fuels and contribute to carbon reduction in industries and mobility. Wood, waste wood, cellulose or lignin, and other plant-based raw materials are evolving as economically viable materials to replace conventional feedstocks. The intermittent focus of the major market players to achieve cost-effectiveness and sustainability through the development of bio-based feedstock will certainly impact the growth of the market in the forecast period.
Key Syngas Market Challenge in North America
Complex quality requirements for syngas is hindering the syngas market growth in North America. Syngas is produced by gasification or pyrolysis. It involves subjecting the materials to high temperatures in the presence of controlled amounts of oxygen and with only limited combustion to provide the thermal energy required to sustain the reaction. Moreover, the composition of syngas depends highly on the inputs to the gasifier, such as various types of coal. Efficient coal gasification and the utilization of the resultant syngas require fulfilling several criteria and critical technical aspects. Such factors increase the complexities and costs associated with engine design and the overall gasification process. This might restrict the large-scale adoption of coal gasification, thus hindering the growth of the market.
This syngas market in North America 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.
Parent Market Analysis
Technavio categorizes the syngas market as a part of the global oil and gas exploration and production market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the syngas market in North America during the forecast period.
Who are the Major Syngas Market Vendors in North America?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Air Products and Chemicals Inc.
- Chiyoda Corp.
- Dakota Gasification Co.
- Haldor Topsoe AS
- Honeywell International Inc.
- LAIR LIQUIDE SA
- Linde Plc
- McDermott International Inc.
- Sierra Industrial Group
- SynGas Technology LLC
This statistical study of the syngas market in North America encompasses successful business strategies deployed by the key vendors. The syngas market in North America is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Air Products and Chemicals Inc. - The company offers turnkey solutions to convert hydrocarbon feedstock into synthesis gas for high-value products and power.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The syngas market in North America forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Syngas Market in North America Value Chain Analysis
Our report provides extensive information on the value chain analysis for the syngas market in North America, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the oil and gas exploration and production market includes the following core components:
- Inputs
- Operations
- Outbound logistics
- End-users
- Industry innovations
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Syngas Market in North America?
For more insights on the market share of various regions Request for a FREE sample now!
66% of the market's growth will originate from the US during the forecast period. US, Canada, Mexico, and ROW are the key markets for syngas market in North America. Market growth in this region will be slower than the growth of the market in other regions.
The rising emphasis on sustainable fuel application will facilitate the syngas market in North America growth in the US 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 2020, the outbreak of COVID-19 impacted the production of syngas which affected the market growth in the US. Due to lockdowns, most of the manufacturing companies were partially working or fully put on a halt. Moreover, most end-user of industries like chemical industries were also put on a halt which reduced the demand for syngas in 2020. Since the lifting of lockdowns, the market is expected to grow as most of the end-user industries have reduced their operation.
What are the Revenue-generating Feedstock Segments in the Syngas Market in North America?
To gain further insights on the market contribution of various segments Request for a FREE sample
The syngas market share growth in North America by the coal segment will be significant during the forecast period. Coal-derived syngas is used as a transportation fuel like gasoline and diesel through additional treatment. It can be further fermented to produce ethanol, ammonia, methanol, and other chemical building blocks. Unground coal gasification (UCG) is a process conducted generally below 1,200 feet. The adoption is this process will drive the market growth in North America during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the syngas market size in North America and actionable market insights on post COVID-19 impact on each segment.
Syngas Market scope in North America |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.62% |
Market growth 2022-2026 |
$ 416.12 million |
Market structure |
Fragmented |
YoY growth (%) |
2.09 |
Regional analysis |
US, Canada, and Mexico |
Performing market contribution |
US at 66% |
Key consumer countries |
US, Canada, Mexico, and ROW |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Air Products and Chemicals Inc., Chiyoda Corp., Dakota Gasification Co., Haldor Topsoe AS, Honeywell International Inc., LAIR LIQUIDE SA, Linde Plc, McDermott International Inc., Sierra Industrial Group, and SynGas Technology LLC |
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 |
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. |
What are the Key Data Covered in this Syngas Market in North America Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive syngas market growth in North America during the next five years
- Precise estimation of the syngas market size in North America and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the syngas market industry in North America across the US, Canada, and Mexico
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of syngas market vendors in North America
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2021
- Market outlook: Forecast for 2021 - 2026
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Feedstock
- Market segments
- Comparison by Feedstock
- Coal - Market size and forecast 2021-2026
- Natural gas - Market size and forecast 2021-2026
- Petroleum byproducts - Market size and forecast 2021-2026
- Biomass - Market size and forecast 2021-2026
- Others - Market size and forecast 2021-2026
- Market opportunity by Feedstock
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- US - Market size and forecast 2021-2026
- Canada - Market size and forecast 2021-2026
- Mexico - Market size and forecast 2021-2026
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Air Products and Chemicals Inc.
- Chiyoda Corp.
- Dakota Gasification Co.
- Haldor Topsoe AS
- Honeywell International Inc.
- LAIR LIQUIDE SA
- Linde Plc
- McDermott International Inc.
- Sierra Industrial Group
- SynGas Technology LLC
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
PURCHASE FULL REPORT OF
syngas market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
Why should you prefer Technavio's market insights report?
- Off-the-shelf research reports
- Reports can be tailored to meet the customer's needs
- Trusted by more than 100 fortune 500 organizations
- Information about the market's key drivers, trends, and challenges
- Parent market analysis
- Every week, 50,000 people visit our subscription platform
- Detailed vendors report with competitive landscape
- Covid-19 impact and recovery analysis
- Data on revenue-generating market segments
- Details on the market shares of various regions
- Five-force market analysis