Coal Gasification market is projected to grow at a CAGR of 14.4% by 2033: Visiongain

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As per the report by Visiongain, the Global Coal Gasification Market was valued at US$9.92 billion in 2022 and is projected to grow at a CAGR of 14.4% during the forecast period 2023-2033.

Visiongain has published a new report entitled Coal Gasification 2023-2033. It includes profiles of Coal Gasification and Forecasts Market Segment by Gasifier Type (Moving Bed Gasifier, Fluidized Bed Gasifier, Entrained Flow Gasifier) Market Segment by End-User (Chemicals, Power Generation, Liquid Fuels, Other End-User) Market Segment by Feedstock (Bituminous Coal, Sub-bituminous Coal, Petroleum Coke, Biomass, Other Feedstock) Market Segment by Technology (Integrated Gasification Combined Cycle (IGCC), Chemical Looping Gasification (CLG), Hydrogen from Coal Process (HyCO), Coal-to-Liquids (CTL), Polygeneration, Other Technologies) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country. 

The Global Energy Landscape Is Undergoing a Significant Transformation  

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The global energy landscape is undergoing a significant transformation, driven by the need to address climate change and reduce greenhouse gas emissions. As a result, there is an increasing demand for cleaner and more sustainable energy sources. In this context, coal gasification has emerged as a promising technology that offers a pathway to repurpose existing coal resources while minimizing environmental impacts. Coal gasification involves converting coal into syngas, a mixture of hydrogen and carbon monoxide, which can be further processed to produce a range of valuable products, including electricity, hydrogen, and synthetic fuels. 

The growing global focus on reducing carbon emissions and transitioning to cleaner energy sources presents a significant opportunity for the coal gasification market. Governments and industries are seeking alternative ways to utilize coal resources in a more sustainable manner, and coal gasification offers a viable solution by providing cleaner energy options and facilitating the decarbonization of various sectors. 

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https://www.visiongain.com/report/coal-gasification-market-2023/#download_sampe_div

How has COVID-19 had a significant negative impact on the Coal Gasification Market? 

The COVID-19 pandemic has had a significant impact on the global coal gasification market. Coal gasification is a process that converts coal into synthesis gas or syngas, which can be used for the production of chemicals, fuels, and electricity. However, the pandemic brought about various challenges and disruptions to this sector. 

Firstly, the lockdown measures and travel restrictions imposed by governments worldwide resulted in a significant decline in industrial activities, leading to a reduced demand for coal gasification products. Many industries scaled back or suspended their operations, causing a decrease in the consumption of syngas and other coal gasification by-products. 

Secondly, the pandemic disrupted supply chains and caused logistical challenges, making it difficult to transport coal and other necessary raw materials to gasification plants. The closure of mines and restrictions on transportation added to the difficulties faced by the coal gasification industry. As a result, the production capacity of many gasification plants was affected, leading to a decline in output. 

How will this Report Benefit you? 

Visiongain’s 335-page report provides 119 tables and 191 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global coal gasification market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for coal gasification. Get financial analysis of the overall market and different segments including gasifier type, technology, end-user, and feedstock and capture higher market share. We believe that there are strong opportunities in this fast-growing coal gasification market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company. 

What are the Current Market Drivers? 

High Demand for Clean Energy to Foster Gasification Market Growth 

The gasification market is poised for significant growth due to the high demand for clean and sustainable energy sources. As global environmental concerns and the need to reduce greenhouse gas emissions continue to intensify, there is a growing focus on transitioning from conventional fossil fuels to cleaner alternatives. Gasification technology plays a crucial role in this transition by enabling the production of cleaner energy and facilitating the utilization of a wide range of feedstocks. 

One of the key drivers for the gasification market is the increasing demand for clean electricity generation. Gasification allows for the conversion of coal, biomass, and other carbonaceous materials into syngas, which can be used to fuel gas turbines or produce steam for power generation. This process significantly reduces emissions compared to conventional coal combustion, offering a more environmentally friendly solution for electricity production. 

The Escalated Use of USG and the Flexibility of Feedstock Driving the Market Growth 

The escalated use of Underground Coal Gasification (USG) and the flexibility of feedstock are key drivers contributing to the growth of the market. Underground Coal Gasification involves the conversion of coal in situ into a synthetic gas (syngas) through a controlled combustion process. This technique enables the extraction of energy resources from coal reserves that were previously inaccessible or economically unviable to mine. One of the major advantages of USG is its flexibility in feedstock selection. It can utilize various types of coal, including low-grade and high-ash coal, lignite, and even coal deposits that are deep underground or located in challenging geological conditions.  

This flexibility in feedstock selection expands the potential resource base for energy production and enhances the economic viability of coal gasification projects. The escalated use of USG is driven by several factors. Firstly, it offers an environmentally favorable alternative to conventional coal mining and combustion methods, as it significantly reduces emissions of pollutants such as sulfur dioxide, nitrogen oxides, and particulate matter. This aligns with the global trend towards cleaner energy solutions and stricter environmental regulations. 

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https://www.visiongain.com/report/coal-gasification-market-2023/#download_sampe_div

Where are the Market Opportunities? 

The Utilization of Coal Gasification to Produce Hydrogen Gas Presents Promising Opportunities for the Coal Gasification Market 

The utilization of coal gasification for hydrogen gas production offers promising opportunities in the coal gasification market. Hydrogen is gaining increasing attention as a clean energy carrier with various applications. In 2021, several developments showcased the potential of coal gasification for hydrogen production. For example, a project in China called “Green Dragon” aimed to convert coal into hydrogen using gasification technology and carbon capture. This initiative highlights the potential for coal gasification to produce hydrogen with reduced emissions and contribute to a more sustainable energy system. Such advancements demonstrate the evolving role of coal gasification in meeting the growing demand for clean hydrogen and its potential as a bridge to a low-carbon future. 

Another Instance, in 2022, an expert panel in India constituted by the government has stated that the country has significant potential to produce hydrogen from domestic coal reserves. The panel, consisting of experts from various sectors, highlighted that coal gasification can be a viable pathway for hydrogen production, enabling India to leverage its abundant coal resources for clean energy purposes. 

Retrofitting Existing Coal-Fired Power Plants with Gasification Technology Offers an Opportunity 

Retrofitting existing coal-fired power plants with gasification technology presents a significant opportunity for enhancing the efficiency, reducing emissions, and extending the lifespan of these plants. By integrating gasification into the existing infrastructure, power plant operators can transition from conventional coal combustion to a cleaner and more sustainable energy production method. Retrofitting also offers an opportunity for power plant operators to diversify their product portfolio. The syngas produced through gasification can serve as a feedstock for various applications, including hydrogen production or chemical manufacturing. This allows plants to explore new revenue streams and adapt to evolving market demands. 

Competitive Landscape 

The major players operating in the coal gasification market are Air Liquide, CTCI Corporation, Foster Wheeler AG, General Electric Company, KBR, Inc., Linc Energy Ltd., Linde plc, Mitsubishi Heavy Industries Ltd, Royal Dutch Shell Plc., Sasol Limited, Sedin Engineering Co Ltd, Shanxi Lu’an Mining Group Co., Ltd., Siemens AG, Wison Group, Xinwen Mining Group Co. Ltd. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch. 

Recent Developments 

  • 20 Oct 2022, Air Liquide has signed a contract for design and building of four ASUs for new clients in the coal transformation industry. Large amounts of oxygen are needed to support the Coal to Chemicals (CTC) market’s rapid growth in China. For the Shaanxi Yanchang Petroleum Group’s Yulin Energy and Chemical Corporation, two ASUs with a combined daily oxygen production capacity of one tonne. 
  • 28 Sept 2022, Mitsubishi Heavy Industries, Ltd. (MHI) has signed an agreement with Indonesia’s Institut Teknologi Bandung (ITB) to conduct joint research and development of ammonia-fired power generation by gas turbine. MHI and ITB have already been undertaking joint research on a variety of clean energy solutions to help Indonesia achieve decarbonization. 

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About Visiongain 

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs. 

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