SynGas Market - Forecast(2021 - 2026)
Syngas Market size is forecast to reach US$61.9 billion by 2026, after growing at a CAGR of 5.8% during 2021-2026. Syngas is a gaseous mix consisting primarily of hydrogen and carbon monoxide, which is generated from coal gasification, fluidized bed gasifier, steam reforming, and others. It can be used to fabricated chemicals such as ammonia, butanol, methanol, acetic acid, and dimethyl ether. Ammonia is generally utilized by the fertilizer segment, and methanol, dimethyl carbonate and ether can be used as fuel. The competence of syngas to be formed from a widespread variety of feedstock such as coal, synthetic natural gas, biomass and petroleum coke is impacting the market growth constructively. Uprising environmental concerns have been the foremost drivers for the growth of the syngas market in order to afford alternative methods of fuel production. Request Sample COVID-19 Impact The syngas market was adversely impacted by COVID-19 in 2020. Syngas is mainly consum...