Mounting Investments in Methanol Production Identified as Key Success Factor Stimulating Syngas Catalysts Business Growth, Evaluates Fact.MR
Published : 14 Sep 2021 Industry: Chemical & Materials
As per the syngas catalysts industry analysis report, Fact.MR anticipates the market to be valued at US$ 805 Mn in 2021 whilst growing at a steady CAGR of around 5.6% over the period of 2021-2031.
Also, Fact.MR, a market research and competitive intelligence provider estimates the global syngas catalysts market to surpass a valuation of US$ 1.3 Bn by 2031-end attributed to factors such as constant demand for catalysts for ammonia synthesis along with increased investments in methanol production across the globe.
Over the past half-decade there has been a rise investments across methanol businesses. Methanol has been identified as a potent fuel that can be blended with conventional petrol and diesel to improve fuel combustion property. Also, blending of such fuels is helping countries reduce their dependency on oil, thus decreasing import costs.
Owing to these factors, governments across the globe are promoting installation of methanol plants. This would enable production of syngas, thus creating demand for catalysts at the same time.
Key Takeaways from Market Study
- Reforming, under operation type, is projected to provide an absolute $ opportunity worth US$ 355 Mn through 2031.
- Based on catalyst, demand for nickel-based catalysts is projected to increase at a high CAGR of around 5.8% over the forecast period.
- On the basis of use case, consumption of catalysts for ammonia synthesis is anticipated to expand 1.7X by 2031.
- East Asia is projected to capture around 43% of global syngas catalyst sales by 2031.
- South Asia & Oceania to provide an absolute $ opportunity worth US$ 74 Mn by 2031-end.
“Market players should target high-growth regions with increasing absolute $ opportunity; this will enable them to target key industries with prominent demand for syngas catalysts,” says a Fact.MR analyst.
Market players positioned to expand regional footprint in high-growth market regions are opting for collaborations and joint ventures with local producers and manufacturers, and also establishing key partnerships with distributors to expand their market share.
Moreover, players are focusing on providing full-fledged packages, which include process technologies, catalysts, and operational assistance to target high-growth industries.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the syngas catalysts market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of operation (coal to SNG, reforming, steam reforming, and others), catalysts (nickel, nickel oxide, and others), and use case (hydrogen synthesis, ammonia synthesis, methanol synthesis, SNG plants, biomass gasification, coal gasification, tar removal, fuel cell, and gas to liquids), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
About the Chemical and Material Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant – Chemicals and Materials