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Synthetic Natural Gas Market to Receive Overwhelming Hike in Revenues by 2025

Synthetic Natural Gas Market: Overview

Synthetic Natural Gas is a fuel gas that can be produced from renewable sources and fossil fuels such as biofuels and coal. It serves as a substitute for natural gas, and is ideal for transmission in natural gas pipelines. It is produced via gasification of coal and or biomass followed by methanation. SNG is also known as green gas and can be converted from coal through five processes: steam-oxygen gasification, catalytic steam gasification, hydrogasification, underground steam-oxygen gasification, and underground hydrogasification.

Restricted supply and high price of natural gas are driving the demand for Synthetic Natural Gas Market. Increase in government initiatives to invest significantly in the production of renewable energy sources to curb carbon emissions and ensure a stable supply of energy and inventiveness pertaining to waste management are estimated to propel the global Synthetic Natural Gas Market. However, high cost involved in establishing an SNG plant and increase in prices of fossil fuel are expected to hamper the Synthetic Natural Gas Market during the forecast period. SNG is a solution for medium to long term and has wide scope in bio-SNG production. Bio-SNG is produced in a manner similar to SNG; however, it is made through the gasification of biomass such as forestry residues or energy crops.

Based on source, the Synthetic Natural Gas Market can be segmented into coal, biomass, solid waste, and others. Synthetic natural gas or substitute natural gas is an artificially produced version of natural gas. SNG can be produced from coal, biomass, petroleum coke, and solid waste. The carbon containing mass is gasified, resulting in syngas that can be then converted to methane, the major component of natural gas. The coal segment is anticipated to dominate the SNG market, as coal helps lower natural gas imports and stabilizes fuel prices.

In terms of application, the Synthetic Natural Gas Market can be split into residential, commercial, and industrial. SNG has a vast potential market; any application that currently uses natural gas could use SNG. Gasification is widely used on-site in industrial applications to produce SNG and electricity, allowing continued operation of natural gas equipment but from a coal source. Thus, the industrial segment is also projected to account for key share of the Synthetic Natural Gas Market during the forecast period.

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In terms of region, the Synthetic Natural Gas Market can be segregated into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Rise in demand for SNG in countries such as China, Japan, and India is significantly boosting the market in Asia Pacific. Latin America and Middle East & Africa also account for major share of the Synthetic Natural Gas Market. This can be ascribed to the increase in demand for SNG in key applications such as industrial and commercial. The Synthetic Natural Gas Market in North America is estimated to expand at a considerable pace during the forecast period owing to the rise in adoption of alternatives and renewable energy sources in the U.S. and Canada.

Global players are adopting research and development strategies and engaging in technological advancements in order to produce SNG and bio-SNG. Prominent companies operating in the Synthetic Natural Gas Market include Dakota Gasification Company, ZSW, Air Liquide, and TransTech Energy, Inc.

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Posted By : Priyanka Thakare // in Business