According to a recent report by MarketsandMarkets, the global gasification market is expected to reach 208 684.0 MW by 2019 at a projected compound annual growth rate (CAGR) of 11.6%.
Gasification is used for converting organic or carbonaceous materials into synthesis gas (syngas) and other end products, which can be used in the chemical industry, transportation fuel, fertilizer industry, solvents, power generation, and others.
Gasification is a thermochemical process, thus there is a considerable interest in routes to liquid biofuels involving gasification as a result of the potential for the routes to have low costs, high efficiency, and high well to wheel greenhouse savings.
Rises in the price of oil have put pressure on traditional energy supplies, and have helped to drive the gasification market in recent years.
The global gasification market has witnessed attractive growth in the Asia-Pacific region due to abundant resource availability in this area, and increased demand for energy.
Major players in gasification are Royal Dutch Shell, General Electric, Air Liquide, and SEDIN Engineering Company Limited.
Edited from various sources by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/01072014/global_gasification_market_826/