According to a new report published by UnivDatos Markets Insights, the Coal Gasification Market is expected to grow at a CAGR of around 5% from 2022-2028. The analysis has been segmented into Gasifier (Fluidized Bed, Fixed Bed, and Entrained Flow); Feedstock (Petroleum, Natural Gas, Coal, and Waste/Biomass); Industry Vertical (Chemical, Power Generation, Gaseous Fuel, and Liquid Fuel); Region/Country.
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The coal gasification market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the coal gasification market. The coal gasification market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the coal gasification market at the global and regional levels.
Market Overview
Coal gasification is the process in which coal is partially oxidized with oxygen, air, carbon dioxide, and/or steam to form fuel gas. Also, coal gasification is the combination of molecular chemical reactions in which complex hydrocarbon and lower energy sources produce syngas which is primarily a mixture of carbon dioxide, hydrogen, carbon monoxide, methane, and water vapor. In recent times, coal gasification has witnessed significant demand owing to the increasing demand for syngas in the manufacturing of fuels, fertilizers, and synthetic & solvent materials. Also, the increasing demand for coking coal in the steel companies for the production of steel and use of the syngas as the production of chemical feedstocks is expected to support the market growth. However, the higher installation cost is expected to hamper the market growth.
Factors such as technological advancement coupled with the growing number of industries and manufacturing units along with the new product launches in the market are some of the prominent factors that are positively influencing the market growth globally.
Some of the major players operating in the market include General Electric Company, Mitsubishi Heavy Industries Ltd., Shell Plc., Oil and Natural Gas Corporation Limited, SEDIN Engineering Co. Ltd., KBR Inc., Air Products and Chemicals, Inc., ANDRITZ, Air Liquide, and Synthesis Energy Systems, Inc.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the manufacturing industry along with supply chain disruption, regulatory and policy changes, labor reliance, working capital management, and liquidity & solvency management. The coal gasification market has been significantly affected during these times owing to the gap between supply and demand.
The global coal gasification market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the industry vertical, the market is bifurcated into chemical, power generation, gaseous fuel, and liquid fuel. The chemical segment is expected to witness significant growth during the forecast period owing to the increasing demand for chemicals in several industries for the production of ammonia, liquid fuels, hydrogen, and others. Also, the increasing chemical demand for fertilizer production across the world is expected to propel the demand. For instance, according to the UN Food & Agriculture report 2022, the demand for Nitrogen, Phosphorus & Potassium was 110193 thousand tons, 48264 thousand tons, and 39473 thousand tons respectively for the year 2021 whereas it was 108744 thousand tons, 47402 thousand tons, 38711 thousand tons respectively for the year 2020.
· Based on the feedstock, the market is bifurcated into petroleum, natural gas, coal, and waste/biomass. The coal segment is expected to witness significant CAGR during the forecast period due to the lower price and innovative technological advancements such as the thermochemical process which convert the coal into valuable gases without the need for mining. Additionally, underground coal mining has the ability to retrieve the material from the deep length below the earth and is expected to support growth during the forecast period.
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Coal Gasification Market Geographical Segmentation Includes:
· North America (United States, Canada, and the Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing demand for energy and the increasing adoption of coal gasification for energy generation in the region. Also, the presence of large coal reserves across the region is expected to propel growth during the forecast period. For instance, according to the GSI Coal Inventory 2020, India has approximately 340,000 million tons of coal resources including proved, indicated, and inferred. Additionally, the government support for coal mining and allowance of the FDI will support the exploration and production activities of the coal and subsequently provides lucrative opportunities for coal gasification. For instance, in August 2019, the Indian government allows 100% of FDI in coal mining, and in May 2020, the Ministry of Coal announced incentives for coal gasification and liquefaction. Furthermore, technological advancements such as the development of coal to hydrogen production technology and increasing research & development activities in the continent will support the expansion of the existing and new markets.
The major players targeting the market include
· General Electric Company
· Mitsubishi Heavy Industries Ltd.
· Shell Plc.
· Oil and Natural Gas Corporation Limited
· SEDIN Engineering Co. Ltd.
· KBR Inc.
· Air Products and Chemicals, Inc.
· ANDRITZ
· Air Liquide
· Synthesis Energy Systems, Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the coal gasification market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the coal gasification market?
• Which factors are influencing the coal gasification market over the forecast period?
• What are the global challenges, threats, and risks in the coal gasification market?
• Which factors are propelling and restraining the coal gasification market?
• What are the demanding global regions of the coal gasification market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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