Syngas Catalyst Market is Expected to Reach US$ 1.56 Billion, Growing at a CAGR of 5.6% by 2034

Accelerating Demand for Hydrogen Opening Up Opportunities for Syngas Catalyst Manufacturers: Fact.MR Report

Use of syngas is rising as a crucial intermediary in several industries such as power generation, refining, chemicals. Bolstered by this factor, the global syngas catalyst market is set to reach a value of US$ 902.4 million in 2024. Fact.MR, a market research and competitive intelligence provider, in its latest revised report, asserts that global demand for syngas catalysts has been calculated to increase at 5.6% CAGR from 2024 to 2034.

Rising popularity of hydrogen, which is supported by environmental regulations and government initiatives, is expected to drive the demand for effective catalysts, which is facilitating the production of syngas. Constant advancements taking place in syngas technology, particularly coal gasification projects, are estimated to serve as one of the key market growth drivers. An increasing trend to adopt sustainable and green technologies is anticipated to contribute to syngas catalysts adoption. Further, growing interest in small-scale ammonia production and syngas production industries will contribute to market expansion.

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Key Takeaway from the Market Study:

• The global syngas catalyst market is projected to increase from a value of US$ 902.4 million in 2024 to US$ 1.56 billion by 2034-end.
• The market has been forecasted to advance at 5.6% CAGR from 2024 to 2034.
• Nickel oxide is estimated to account for 39.1% share of global market revenue by the end of the assessment period in 2034.
• North America is calculated to hold 17.5% of global market revenue by 2034.
• Sales of syngas catalysts in South Korea are approximated to rise at a CAGR of 6.9% from 2024 to 2034.

“Noteworthy shift to renewable feedstocks, expansion of chemicals and petrochemical industries, and advancements in catalyst technology will be the main reasons driving demand for syngas catalysts over the coming years,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Syngas Catalyst Market:

Haldor Topsoe; BASF; Unicat Technologies; Casale; Johnson Matthey; Clariant

Growing Use of Reforming Operations to Manufacture Syngas Catalysts

Global demand for reforming operations for syngas catalysts manufacturing is approximated to increase at a CAGR of 5.8% and reach a value of US$ 359.5 million by 2034-end. Traction for reforming operations is owing to their flexibility in use in different use cases, including hydrogen synthesis, methanol synthesis, ammonia synthesis, and some others. Further, improved efficiency of reforming process than other methods stimulating end-use industries to adopt this procedure for syngas production.

Syngas Catalyst Market News:

Johnson Matthey, in December 2020, obtained a license to develop the world's largest single-train methanol plants. The project is expected to assist Johnson Matthey in expanding its presence in China by providing technology, catalysts, and commissioning services.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the syngas catalyst market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on operation (coal to SNG, reforming, steam reforming), catalyst (nickel, nickel oxide), and use case (hydrogen synthesis, ammonia synthesis, methanol synthesis, SNG plants, biomass gasification, coal gasification, tar removal, fuel cells, gas to liquid), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

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