Syngas Catalyst Market Size, Share, Scope and Forecast 2034

 As uncovered in Fact.MR's latest updated industry analysis, growing emphasis on sustainable projects and clean energy will compel the syngas catalyst market globally to hit US$ 902.4 million by 2024. It is estimated that global sales of syngas catalysts will grow at a CAGR of 5.6% and hit US$ 1.56 billion by the end of 2034.

Increase in needs for offshore power applications, such as consumer products and personal electronic products is expected to be one of the critical drivers of the growth of the syngas catalyst market size. As a synthesis gas; a mixture of several elements, including carbon dioxide, carbon monoxide, and hydrogen, syngas catalysts are used in methanol, ammonia, and natural gas production.

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Country-wise Insights

East Asia is estimated to occupy 24.6% of the revenue share in the global market by the year 2034, as per Fact.MR report. The availability of a well-established industry for syngas catalyst methanol and syngas catalyst ammonia is fueling market opportunities. Moreover, an increasing tendency towards implementing alternative fuel sources, such as methanol, etc. is estimated to drive manufacturers towards focusing on respective end-use industries.

United States is expected to hold 73.5% North American market share by the close of 2034. The existence of the established petrochemical and oil & gas industries is driving the demand for syngas for hydrogen production and other syngas-related chemicals. In addition, some of the major players in the market have their facilities in the United States, thereby providing methanol and ammonia manufacturers close proximity to syngas catalysts.

China is estimated to hold 57.3% market share of the East Asian market by the year 2034. China has been in continuous dominant position not just as a manufacturer but also as a consumer of chemicals in East Asia. There is a growing trend in the country to manufacture olefins from methanol, hence adding to the escalating embracement of methanol to olefins method. A tie-up by certain prominent players with domestic syngas catalyst producers is also propelling the market growth.

Category-wise Insights

Global nickel oxide demand is also projected to rise at a CAGR of 5.7% and reach a value of US$ 608.4 million by the end of the forecast period in 2034, as claimed in the research report available with Fact.MR, a market research and competitive intelligence company.

Operation of reforming utilized in the production of syngas catalysts is projected to hold 23.1% of the total market revenue globally by the year 2034. Growing utilization of this operation is due to the flexibility of the process for various use applications such as methanol synthesis, synthesis of ammonia, hydrogen synthesis, and others. Enhanced efficiency of this process operation compared to other alternatives is among the factors fuelling the growing demand by more end users for the production of syngas.

Competitive Landscape

Syngas catalyst manufacturers are increasing their footprints by adopting organic as well as inorganic approaches. Collaboration, partnerships, expansion of capacities, etc. are some of the strategies, which are assisting players in gaining a competitive advantage. Additionally, new product development, quality control, and supply chain systems maintaining are some of the strategies adopted by players to acquire new customers and retain current ones.

For example :

Johnson Matthey, in December 2020, acquired the largest single-train methanol world plants development license. The program is projected to enable Johnson Matthey to expand its presence in China by providing technology, catalysts, and commissioning support.

Major participants in the market of syngas catalysts are Haldor Topsoe, BASF, Unicat Technologies, Casale, Johnson Matthey, and Clariant.

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Segmentation of Syngas Catalyst Market Research

• By Operation :
• Coal to SNG
• Reforming
• Steam Reforming
• Others
• By Catalyst :
• Nickel
• Nickel Oxide
• Others
• By Use Case :
• Hydrogen Synthesis
• Ammonia Synthesis
• Methanol Synthesis
• SNG Plants
• Biomass Gasification
• Coal Gasification
• Tar Removal
• Fuel Cells
• Gas to Liquids
• By Region :
• North America
• Europe
• East Asia
• Latin America
• Middle East & Africa
• South Asia & Oceania

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