Understanding Impact of COVID-19 on Syngas and Derivatives Market
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.
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.
More Trending Reports by TMR:
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.
Apart from this, the rising usage of derivatives in a number of industrial applications is also reflecting positively on this market. Going forward, the growing demand for fuel, electricity, and agricultural products is expected to boost this market considerably in the near future. However, insufficient capital investment and funding may hamper the growth of this market over the next few years, reports the study.
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and technique in developing distinctive data sets and research material for business reports.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Understanding Impact of COVID-19 on Syngas and Derivatives Market here
News-ID: 2176600 • Views: 690
More Releases from Transparency Market Research
Market Intelligence Report on Calcite Market, 2018-2028
Sales of calcite have witnessed utter proliferation in recent time, in line with the growing demand from paper and pulp sector wherein calcite is highly adopted as a coating and filler material. According to Transparency Market Research analysis, global calcite market is anticipated to register 4.7% CAGR during the study period 2018–2028. The TMR report opines that demand for calcite is highly driven by its significant properties that are paving way
Pearlescent Pigments Market Intelligence Report Offers Growth Prospects
The demand within the global pearlescent pigment market is slated to rise as new creative avenues emerge in the art and craft industry. Several artists have increased the consumption of pearlescent pigments, mainly due to the aesthetic value of these pigments in art forms. The use of these pigments can majorly be attributed to the gloss and shine imparted by these pigments to the design or craft. These pigments exhibit
Aragonite Market to Witness Steady Growth During the Forecast Period 2018-2026
Global Aragonite Market: Overview Aragonite is a carbonate mineral having an orthorhombic crystal system, and very closely resembles calcite. It is considered as the purest form of calcium carbonate. The mineral has garnered wide popularity as gemstone in various parts of the world and has promising healing properties with energy enhancing powers. Aragonite contains traces of magnesium and sand inclusion but rich in calcium carbonate, and is alkaline in nature. It
OEM Insulation Market Growth, Trends and Value Chain 2019-2027 by TMR
OEM Insulation Market – Overview OEM means Original Equipment Manufacturer that indicates to a company that produces a part or a subsystem of a product that is being used by another organization. Thermal insulation or simply insulation allows the product to cut down the heat gain or loss at the minimum by creating a barrier between the surfaces at the varying temperatures. There are wide range of applications and end-use verticals
More Releases for Asia
RAMPF Korea – Producing in Asia for Asia
Joint Venture for the Asian markets – The international RAMPF Group has realigned the cooperation with its long-standing partner Orient Dosiertechnik from Korea with the founding of RAMPF Korea Co., Ltd. The new company based in Hwaseong City is developing and producing mixing and dispensing systems specifically for the Asian markets. Within the framework of the new joint venture based in Hwaseong City, mixing and dispensing systems are being developed and
LIXIL Asia Presents Asia Pacific Property Awards
Through its power brands GROHE and American Standard, LIXIL Asia signs a three-year deal to become the Headline Sponsor of the Asia Pacific Property Awards from 2019 until 2022. 23rd January 2019: The International Property Awards, first established in 1993, are open to residential and commercial property professionals from around the globe. They celebrate the highest levels of achievement by companies operating within the architecture, interior design, real estate and property
MES: Expansion in Asia
Berlin, November 24, 2014: Model Engineering Solutions (MES), the Berlin-based specialist for model-based software development, has significantly expanded its business in Asia. In recent years, MES has built up a network of local partners in Japan, Korea, China, and India in order to benefit from the growing market and increasing interest in model-based development and ISO 26262 in Asia. Asia: Driving force in the automotive industry The automotive industry continues
Undersea Defence Technology Asia, UDT Asia 2011
Latest Military Diving Technologies featured in UDT Asia Equipping Asia’s navies with the latest diving technology for asymmetric warfare and operations SINGAPORE, 17 October 2011 - Naval diving and underwater special operations is a field that is seeing increased attention and investment amongst navies in Asia. Units such as the Indonesian Navy‟s KOPASKA, the Republic of Singapore Navy‟s Naval Diving Unit (NDU), the Royal Malaysian Navy‟s PASKAL are increasingly utilising specialised equipment for conducting
UDT Asia 2011
Clarion Events hosts the Undersea Defence Technology (UDT) Asia 2011 conference and exhibition to bring senior naval and industry personnel together to cover underwater developments in the region Singapore, May 30 – Clarion Events is hosting UDT Asia on 30 November – 1 December 2011. The event brings together the undersea defence community in Asia, featuring top regional naval speakers, who will be addressing the latest underwater requirements for Asian navies. According
eltherm goes Asia
Finally all preparations are finished and the new subsidiary of eltherm GmbH, eltherm Asia Pacific Pte Ltd has commenced operations in Singapore on 1st April 2010. To celebrate the starting shot, an opening celebration was held in the afternoon of 28th July in the office premises followed by a get together dinner and drinks in the evening at a pub. A total of 62 guests attended the event with the