Coal Gasification Market size is set to grow by USD 14.01 billion from 2024-2028, Rise in global energy demand boost the market, Technavio

NEW YORK, June 13, 2024 /PRNewswire/ -- The global coal gasification market size is estimated to grow by USD 14.01 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 16.25% during the forecast period.Rise in global energy demand is driving market growth, with a trend towards rise in global coal production. However, environment concerns for coal gasification poses a challenge. Key market players include Air Liquide SA, Air Products and Chemicals Inc., Basin Electric Power Cooperative, CASE GROUP, Chiyoda Corp., Ergo Exergy Technologies Inc., Johnson Matthey Plc, KBR Inc., Larsen and Toubro Ltd., McDermott International Ltd., Mitsubishi Heavy Industries Ltd., Regius Synfuels Ltd., Sasol Ltd., SEDIN Engineering Co. Ltd. CNCEC, Siemens AG, Swan Hills Synfuels LLP, Synthesis Energy Systems Inc., thyssenkrupp AG, and Oil and Natural Gas Corp. Ltd..

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Market Driver

The coal industry continues to be a significant contributor to the global energy landscape, with China leading as the world's largest producer. The relaxation of import restrictions in China has stimulated production in countries like Indonesia and the US. Furthermore, India and Russia are also increasing their coal output, aligning with their governments' goals to reduce import reliance. This rising coal production is anticipated to fuel the expansion of the global coal gasification market. 

The Coal Gasification Market is experiencing significant growth due to the increasing demand for cleaner energy sources. This process converts coal into synthetic natural gas and other valuable chemicals through the application of high temperatures and pressures. The use of coal gasification technology is on the rise, particularly in the energy and chemical industries.

Countries like China and India are leading the way in coal gasification, driven by their large coal reserves and the need to reduce greenhouse gas emissions. The market is also witnessing advancements in technology, making the process more efficient and cost-effective. Additionally, the growing trend towards renewable energy sources is driving the development of coal gasification as a bridge technology to a low-carbon future. 

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Market Challenges

• The coal gasification market faces environmental challenges due to the need for pollution control in the process. Acid gases from sulfur in coal and ammonia/hydrogen cyanide from nitrogen require removal. Underground gasification also presents risks, including potential groundwater contamination and subsidence. Vendors must ensure efficient processes and adhere to regulations to mitigate these risks and prevent severe damage. These concerns may limit market growth during the forecast period.
• The Coal Gasification Market faces several challenges in its implementation. One major challenge is the high capital cost associated with the technology. Another challenge is the complexity of the process, requiring specialized knowledge and expertise. The use of advanced technologies like Carbon Monoxide Utilization and Methanation is essential to improve efficiency and reduce emissions, but these technologies add to the cost. Additionally, the market is subject to regulatory challenges due to environmental concerns.
• The use of Bed Gasification and Fluidized Bed Gasification processes can help address these challenges by reducing capital costs and improving efficiency. However, the implementation of these processes requires significant research and development efforts. Overall, the Coal Gasification Market requires a collaborative effort from industry experts, governments, and academia to overcome these challenges and drive growth.

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Segment Overview 

1. Application 
• 1.1 Chemicals
• 1.2 Fuels
• 1.3 Power
2. Type 
• 2.1 Moving bed
• 2.2 Fluidized bed
• 2.3 Entrained bed
• 2.4 Molten bed
3. Geography 
• 3.1 APAC
• 3.2 Middle East and Africa
• 3.3 North America
• 3.4 Europe
• 3.5 South America

1.1 Chemicals- The chemicals sector is a significant contributor to modern society, with extensive use in various industries such as plastics, rubber, synthetic textiles, electronics, and agriculture. The demand for chemicals is increasing, particularly in the areas of plastics and other chemicals, offsetting the declining demand for fertilizers. The chemicals sector is also a major emitter of carbon emissions, with global direct carbon emissions expected to peak in 2025.

To address this, countries like China and South Africa are adopting coal gasification technology to produce chemicals in an environmentally friendly way. Companies such as Air Products and Chemicals Inc. and Synthesis Energy Systems Inc. are offering advanced coal gasification technologies to ensure efficient use of coal and reduce carbon emissions. Indonesia and North Korea are also exploring coal gasification to reduce dependence on imports and make use of abundant coal supplies. These trends are expected to drive the growth of the coal gasification market in the chemicals sector.

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Research Analysis

The Coal Gasification Market encompasses various technologies, including Moving Bed, Fluidized Bed, and Entrained Bed, used for the conversion of coal into valuable products such as Syngas, Hydrogen, and Synthetic Natural Gas. This process involves the reaction of coal with water, air, and oxygen to produce fuel gas, which includes components like Carbon Monoxide, Methane, and Water Vapour.

The resulting gas stream undergoes further processing to produce Clean Hydrogen, Sulfur Dioxide, and Carbon Dioxide. These gases find applications in Ammonia production, fertilizers, power generation, and other industrial processes. Underground Coal Gasification is another advanced gasification technology that utilizes coal as a low-cost feedstock, reducing the environmental impact by minimizing the need for water and land usage compared to traditional mining methods.

Market Research Overview

The Coal Gasification Market refers to the industry dedicated to converting coal into synthetic natural gas (SNG) or other valuable chemicals through the process of coal gasification. This process involves the partial oxidation or steam reforming of coal in the absence of air to produce syngas, which can then be cleaned and converted into various products such as methanol, hydrogen, and SNG. The coal gasification market is driven by the increasing demand for cleaner energy sources and the need to reduce greenhouse gas emissions. Technological advancements and government initiatives to promote the use of alternative fuels are also contributing to the growth of this market. The coal gasification process offers several advantages including the ability to utilize low-rank coal and coal waste, as well as the production of valuable by-products. However, challenges such as high capital costs and the need for stringent safety measures remain.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Chemicals
• Fuels
• Power
• Type
• Moving Bed
• Fluidized Bed
• Entrained Bed
• Molten Bed
• Geography
• APAC
• Middle East And Africa
• North America
• Europe
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio