According to a recently published report by Research Nester on “Underground Coal Gasification Market: Global Demand Analysis & Opportunity Outlook 2019-2027” delivers detailed overview of the global underground coal gasification market in terms of market segmentation by end user industry (power generation, chemicals, liquid fuels, gaseous fuels); by feedstock (coal, natural gas, petroleum, pet-coke and biomass); by technology (steam reforming, partial oxidation, auto thermal reforming, combined or two-step reforming and biomass gasification); by gasifier type (fixed bed, entrained flow, fluidized bed)and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The underground coal gasification market is segmented by end user industry (power generation, chemicals, liquid fuels, gaseous fuels); by feedstock (coal, natural gas, petroleum, pet-coke and biomass); by technology (steam reforming, partial oxidation, auto thermal reforming, combined or two-step reforming and biomass gasification); by gasifier type (fixed bed, entrained flow, fluidized bed) and by regions.
Underground coal gasification (UCG), is a clean, safe, and cheap technology suited to process deep, inaccessible coal in to higher value syngas. A combination of high oil prices, increasing global energy demand, and technological improvements, especially in directional drilling, has increased interest in the UCG industry and a number of countries are now witnessing increased investments in their UCG industries. In countries with limited natural gas and oil reserves, yet extensive coal reserves, UCG offers a cleaner and cheaper alternative energy source from coal. An additional benefit comes from UCG's compatibility with emerging technologies such as Carbon Capture and Storage (CCS), Enhanced Oil Recovery (EOR), Gas to Liquids (GTL).
Underground coal gasification market is anticipated to mask a CAGR of 20% during the forecast period i.e. 2019-2027. Asia-Pacific dominates the global market share, with rising demand from the chemical industry, primarily from refineries. The market growth in APAC can be attributed to several factors such as the rising demand for energy, the presence of significant coal reserves, and increasing demand for clean energy technologies. China is the hub for chemical processing, accounting for majority of chemicals produced, globally. China's refinery capacity constitutes 14.6% of the world's refining capacity.
Rise in adoption of clean energy technologies
A key factor driving the growth of the global coal gasification market is the economic benefit of coal gasification. Gasification harnesses the full energy potential of the feedstock while reducing the costs associated with disposal and environmental impact. Lesser capital investment, minimal need of rail and road infrastructure, reduced cost of plant installation, environmental obligations, are few more factors to add to the growth of the market.
However, the deceleration of UCG commercialization has been caused by recent decrease of global oil, gas and coal prices. Another substantial issue is lack of policies and regulations regarding extraction and conversion of coal by UCG technique where the UCG projects were proposed and developed. Along with these objective causes, there are more technical reasons owing to slowdown or cancelation of several significant UCG projects, including low efficiency, poor environmental performance, and incompetence to demonstrate technology at a larger scale and/or at a competitive cost.
This report also provides the existing competitive scenario of some of the key players of the global underground coal gasification market which includes company profiling of Air Products & Chemicals, Inc., Air Liquide, BASF SE, BP Plc., The Linde Group, General Electric, Haldor Topsoe AS, Royal Dutch Shell, Sasol, Siemens AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global underground coal gasification market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.