(EMAILWIRE.COM, September 16, 2021 ) The syngas & derivatives market is estimated at 2,45,557 MWth in 2020 and is projected to reach 4,06,860 MWth by 2025, at a CAGR of 10.6% from 2020 to 2025. The chemicals segment is estimated to lead the syngas & derivatives market in 2020, owing to increasing demand for derivatives such as methanol, ammonia, and FT synthesis products to manufacture chemical intermediates for use in chemical synthesis and to manufacture fertilizers and petrochemicals. In addition, high demand for chemical intermediaries in the production of hygiene and sanitization and pharmaceutical products due to outbreak of COVID-19 is anticipated to fuel the growth of syngas and its derivatives in the chemical segment. Manufacture of chemicals and fuels was marked as critical infrastructure and as essential goods and services, which led to continuation in the operations and production of syngas derived chemicals, fuel, and electricity to meet the demand across the world. Furthermore, rising environmental concerns due to excess usage of traditional fuels are expected to fuel the growth of the syngas & derivatives market.

Major companies such as Sasol Limited (South Africa), Haldor Topsoe A/S (Denmark), Air Liquide S.A.(France), Siemens AG (Germany), Air Products and Chemicals Inc. (US), KBR Inc. (US), Linde plc (UK), BASF SE (Germany), TechnipFMC PLC (UK), McDermott International, Inc. (US), Mitsubishi Heavy Industries, Ltd. (Japan), Chiyoda Corporation (Japan), Synthesis Energy Systems, Inc. (US), Yara International ASA (Norway), Methanex Corporation (Canada), CF Industries Holdings, Inc. (US), Dow Inc. (US) and John Wood Group PLC (UK), and others are key players in the syngas & derivatives market. These players have been focusing on developmental strategies, such as expansions, acquisitions, partnerships, and new product developments, which have helped them expand their businesses in untapped and potential markets. They have also been adopting various organic and inorganic growth strategies, such as contracts, agreements, new product developments, acquisitions, and expansions, to enhance their current position in the syngas & derivatives market.

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Air Products and Chemicals Inc. (US) is a leading manufacturer of industrial gases in the world. The company manufactures hydrogen, carbon monoxide, and syngas under the process gases division. Air Products provides coal gasification technology with processes such as Integrated Gasification Combined Cycle (IGCC), polygeneration, Gas-To-Liquids (GTL), Coal-To-Liquids (CTL), Coal-To-Chemicals (CTC), and Substitute Natural Gas (SNG). The company has a geographic presence in over 50 countries.

Sasol Limited (South Africa) is an integrated oil & gas group with a substantial interest in the chemical and energy industry. The company develops and commercializes technologies and builds world-scale facilities to manufacture a range of high-value products, including liquid fuels, chemicals, and low-carbon electricity. The company operates globally through six business segments, including international energy, performance chemicals, base chemicals, mining, exploration & production, and group functions. The company is engaged in providing technology and feedstocks for use in the production of syngas. The company also produces syngas, which is further utilized in the production of chemicals and synthetic fuels.

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Air Liquide S.A. (France) is one of the leading producers in the syngas & derivatives market. The company has strong product offerings that are distributed across various regions such as the Americas, Europe, Asia Pacific, and the Middle East & Africa. It is primarily focused on inorganic growth strategies such as agreements & contracts to enhance its reach on a global scale, thereby helping it strengthen its product portfolio.