MARKET OVERVIEW:
Gasification is a versatile thermochemical process that converts carbon-based feedstocks like coal, biomass, and waste into a valuable synthesis gas (syngas) without combustion. This syngas serves as a critical feedstock for generating electricity, producing clean fuels like hydrogen, and manufacturing essential chemicals such as methanol and ammonia. Its ability to process diverse materials while reducing emissions positions it as a key technology in the transition to a more sustainable and circular industrial economy.
USD 2,529 MILLION 2024
USD 5,176 MILLION CAGR 11.0%
MARKET SEGMENTATION:
BY APPLICATIO N
⚬·Coal, ⚬Biomass, ⚬ Petroleum Coke, ⚬ Municipal Solid Waste.
BY TYPE Power Generation, Chemicals, Liquid Fuels, Gaseous Fuels, Hydrogen Production.
Stringent Environmental Regulations Fueling
MARKET DYNAMICS
Adoption of Clean Fuel Technologies
The primary market catalyst is the global imperative for clean energy and emissions reduction. Gasification offers a pathway to utilize domestic resources like coal and biomass more cleanly than conventional combustion, aligning with international climate goals.
MARKET OPPORTUNITIES
Major opportunities are emerging from the expansion of the hydrogen economy and the critical need for waste-to-energy solutions. Gasification, especially when integrated with carbon capture, is a viable method for producing low-carbon hydrogen. Furthermore, with over 2 billion tons of municipal solid waste generated annually, gasification presents an efficient technology to convert this challenge into a valuable energy resource, supporting circular economy models.
COMPANY MISSION
Our mission at 24 Chemical Research is to support the global chemical value chain through indepth research, emerging technology tracking, and sustainability-focused market analysis. We aim to bridge science, industry, and strategy by delivering insights that drive responsible growth, innovation, and long-term value creation.
REGIONAL MARKET OUTLOOK
North America
North America collectively hold about 20% of the market. These regions are characterized by strong regulatory frameworks promoting clean energy, significant R&D investments, and a growing focus on advanced applications like biomass gasification for district heating and hydrogen production with carbon capture.
Europe
Europe collectively hold about 20% of the market. These regions are characterized by strong regulatory frameworks promoting clean energy, significant R&D investments, and a growing focus on advanced applications like biomass gasification for district heating and hydrogen production with carbon capture.
COMPETITIVE LANDSCAPE
• GE Gasification Technologies, LLC
• Shell Gasification
• Air Products and Chemicals, Inc.
• Mitsubishi Heavy Industries, Ltd.
• Siemens Energy AG
These companies represent some of the major key players driving innovation and growth in the market, contributing significantly to global supply and competitive dynamics.
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