Syngas & Derivatives Market

Market Leader - Syngas & Derivatives Market

The syngas & derivaties market is estimated at 277,507 MWth and is projected to reach 501,932 MWth by 2024, at a CAGR of 12.6% from 2019 to 2024. The chemicals segment is estimated to lead the syngas & derivatives market in 2019, 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. 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), The Dow Chemical Company (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, new product developments, acquisitions, and expansions, to enhance their current position in the syngas & derivatives market.

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Air Liquide (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.

  • In September 2019, Air Liquide S.A. announced an agreement with Methanex Corporation to supply oxygen, nitrogen, and utilities for its upcoming methanol plant expansion project in Geismar, Louisiana. Air Liquide will invest more than USD 270 million in two new large air separation units (ASUs) with a capacity of 2,500 tons per day of oxygen and infrastructure assets and significantly increase its production capacity in the US Gulf Coast region. This agreement will strengthen Air Liquide’s position in the US Gulf Coast region and will enhance its competitiveness.
  • In September 2019, Air Liquide Philippines and Pilipinas Shell signed a long-term contract for the supply of hydrogen to Shell’s Tabangao refinery in Batangas, Philippines. Air Liquide will invest USD 33.0 million in the construction of a hydrogen manufacturing unit (HMU) on the Tabangao refinery in Batangas. This gas supply contract will strengthen its long-term partnership with Pilipinas Shell and meet demand in the Philippines.

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.

  • In February 2015, Sasol entered into an agreement with Air Liquide S.A. (France) to outsource oxygen for industrial gas production at Sasol’s Secunda complex. Air Liquide invested about USD 221.8 million in the construction of the largest air separation unit (ASU) at Sasol’s synthetic fuels and chemicals complex in Secunda, South Africa, which operates at 5,000 tons per day to supply oxygen and nitrogen to Sasol’s proprietary synthetic fuels and chemicals manufacturing process. This strategy helped in obtaining oxygen, which is used in the production of synthetic fuels in the South Africa market. It also strengthened its partnership with Air Liquide.

Related Reports:

Syngas & Derivatives Market by Production Technology, Gasifier Type, Feedstock (Coal, Natural Gas, Petroleum Byproducts, Biomass/Waste), Application (Chemicals, Fuel, and Electricity), and Region - Global Forecast to 2024

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Report Code
CH 2043
RI Published ON
11/28/2019
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