Market Size of Asia-Pacific Syngas Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 125.65 Million metric normal cubic meters per hour (mm nm³/h) |
| Market Volume (2029) | 239.24 Million metric normal cubic meters per hour (mm nm³/h) |
| CAGR (2024 - 2029) | > 13.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Syngas Market Analysis
The Asia-Pacific Syngas Market size is estimated at 125.65 Million metric normal cubic meters per hour (mm nm³/h) in 2024, and is expected to reach 239.24 Million metric normal cubic meters per hour (mm nm³/h) by 2029, growing at a CAGR of greater than 13.5% during the forecast period (2024-2029).
- The Asia-Pacific Sngas market was negatively affected by the COVID-19 pandemic. China was worst hit by the COVID pandemic in the region. The pandemic resulted in the closure of chemical production plants in countries like India and China, thereby affecting the market for syngas. However, the market recovered well after the restrictions were lifted. The market recovered significantly, owing to the rise in consumption of syngas in power generation and chemical industries.
- The growing demand for syngas from the electricity and chemical industry, increasing environmental awareness and government regulations on renewable fuel use, and increasing hydrogen demand for fertilizers are expected to drive the growth of the market.
- The syngas production plant setup requires high capital investment and funding, which is expected to hinder market growth.
- The development of underground coal gasification technology is likely to act as an opportunity in the future.
- China is expected to dominate the market due to the rising demand for syngas in the power generation and chemical industries. It is also expected to register the highest CAGR during the forecast period.
