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The syngas market size is forecast to increase by USD 17.43 billion at a CAGR of 6.78% between 2023 and 2028. The market is experiencing significant growth due to the increasing utilization of syngas in various applications, particularly in the production of bio-based feedstock for biofuels. Heavy crude oil and tar sand bitumen are being replaced with syngas as a cleaner and more efficient alternative. However, the production of syngas involves challenges such as the presence of water vapor and sulfur containing compounds, which require complex purification processes. Additionally, the demand for high-quality syngas, particularly for ethane and ethylene production, is driving market growth. The use of biomass-derived syngas through fermentation processes is also gaining popularity due to its environmental benefits.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Feedstock
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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