Synthetic Natural Gas Market Booming at USD 89.71 Billion by 2031 Fuelled by Growing Environmental Concerns and Geopolitical Tensions

The Synthetic Natural Gas Market was valued at USD 53.57 billion in 2023 and is expected to reach USD 89.71 billion by 2031. SNS Insider predicts the CAGR of 6.63% for the forecast period of 2024-2031.

The rising demand for renewable energy sources is a key driver. synthetic natural gas acts as a bridge, utilizing existing natural gas infrastructure while being produced from sustainable sources like biomass or even captured carbon dioxide.

This integration offers a smoother transition away from fossil fuels. Policy tailwinds are providing a strong push. Governments around the world are implementing renewable energy mandates and investing heavily in synthetic natural gas production. The transportation sector is emerging as the fastest growing application segment, reflecting a surge in consumer preference for cleaner fuels. These trends collectively position synthetic natural gas as a game-changer in the global energy landscape.

KEY PLAYERS:

• ROYAL DUTCH SHELL PLC.
• SynGas Technology LLC
• John Wood Group
• Syngas Energy Holdings
• BASF SE
• Air Liquide
• Air Products and Chemicals Inc.
• SIEMENS AG
• The Linde Group
• Sasol Limited

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Synthetic natural gas’s ability to be stored and transported through existing infrastructure presents a compelling solution for intermittent renewable energy sources like solar and wind. For instance, surplus electricity generated during peak sun hours can be converted to synthetic natural gas, ensuring grid stability and efficient energy utilization. Furthermore, waste-to-energy projects utilizing municipal solid waste and agricultural residues for synthetic natural gas production are gaining traction. This not only diverts waste from landfills but also captures harmful methane emissions, creating a sustainable waste management solution. With increasing government regulations and incentives promoting clean energy adoption, the Synthetic Natural Gas market presents a lucrative opportunity for investors and industry players alike.

The Synthetic Natural Gas market can be segmented by application, revealing a diverse landscape.  

Power generation is a key driver, likely accounting for around 30% of the market. This segment benefits from synthetic natural gas’s ability to provide a stable and dispatchable renewable energy source, especially when paired with biogas production. The chemicals sector is another significant player, potentially consuming 25% of synthetic natural gas. Here, synthetic natural gas serves as a clean feedstock for various industrial processes. The “Others” segment, including applications like transportation and grid injection, holds promise for future growth, possibly reaching 15% by 2030.

Market Segments:

By Gasifier

• Moving Bed Gasifier
• Fluidized Bed Gasifier
• Entrained Flow Gasifier
• Others

By Technology

• Steam Reforming
• Partial Oxidation
• Autothermal Reforming
• Combined or Two-step Reforming
• Biomass Gasification

By Feedstock

• Natural Gas
• Coal
• Biomass/Waste
• Others

By Application

• Power Generation
• Chemicals
• Others

The APAC region holds the maximum share in the global Synthetic Natural Gas market, holding the largest share at an estimated 7.89% CAGR.  

The dominance is fuelled by a several of factors ambitious clean energy targets, growing economies, and a rising need for energy security in countries like China and India. For instance, China aims for carbon neutrality by 2060, significantly promoting synthetic natural gas adoption. The Indian government’s push for a gas-based economy is another growth driver, with policies like the Sustainable Alternative Towards Affordable Transportation (SATAT) program encouraging the use of synthetic natural gas for cleaner mobility solutions.

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The Russia-Ukraine war, for instance, has disrupted traditional natural gas supplies to Europe, pushing countries like Germany to invest heavily in synthetic natural gas production. This trend is likely to be mirrored in other regions facing uncertain geopolitical landscapes. Governments in Asia, particularly China and Japan, are also looking to synthetic natural gas as a way to diversify their energy mix and reduce dependence on volatile gas markets. While initial production costs remain high, advancements in technology and potential government subsidies are expected to make synthetic natural gas a more attractive option in the coming years. This could lead to a significant acceleration in synthetic natural gas adoption, particularly in regions seeking energy security and a cleaner burning fuel source.

Key Takeaways:

• Synthetic Natural Gas offers a pathway to diversify energy sources, as it can be produced from renewable electricity, biomass, or even fossil fuels with carbon capture. This flexibility makes it a valuable tool for regions lacking natural gas reserves or aiming for a cleaner energy mix.
• Synthetic natural gas can act as a battery for renewable energy sources like solar and wind. Excess electricity can be used to create synthetic natural gas during peak generation, then stored and used later when renewable output is low.
• This helps with grid balancing and stability, vital for integrating more renewables. Finally, synthetic natural gas can seamlessly integrate with existing natural gas infrastructure, leveraging established pipelines for transportation.

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Table of Contents – Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
   • COVID-19 Impact Analysis
   • Impact of Ukraine- Russia war
   • Impact of ongoing Recession
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Synthetic Natural Gas Market Segmentation, By Gasifier
9. Synthetic Natural Gas Market Segmentation, By Technology
10. Synthetic Natural Gas Market Segmentation, By Feedstock
11. Synthetic Natural Gas Market Segmentation, By Application
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion

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