Synthetic Natural Gas Market Size Worth USD 194.53 Billion By 2034 | CAGR: 23.4%

The global synthetic natural gas market size is expected to reach USD 194.53 billion by 2034, according to a new study by Polaris Market Research. The report “Synthetic Natural Gas Market Size, Share, Trends, Industry Analysis Report: By Source (Coal, Biomass, and Renewable Energy); Technology, Application; Region; Market Forecast, 2025-2034” gives a detailed insight into the current market dynamics and provides analysis on future market growth.

The synthetic natural gas (SNG) market is increasingly recognized as a sustainable substitute for conventional fossil fuels produced from sources such as biomass, biogas, and hydrogen. SNG mimics the properties of natural gas and can be seamlessly integrated into existing gas infrastructure. Key drivers include environmental regulations favoring lower carbon emissions and technological advancements enhancing production efficiency. For instance, in September 2023, the International Energy Agency (IEA) stated that annual global clean energy investments need to reach USD 4.5 trillion by 2030 to restrict global warming to 1.5°C.

SNG offers a versatile solution for industries seeking to decarbonize while maintaining operational continuity as global energy demand shifts towards cleaner alternatives. The market's growth is propelled by innovations in gas conversion technologies and supportive policies promoting renewable energy adoption worldwide.

The rising awareness about the environmental impact of traditional natural gas extraction and consumption is boosting the growth of synthetic natural gas in the market. For instance, in April 2024, Air Liquide expanded its capacities in biomethane in the US with the construction of two new production units. The company currently has 26 bio-methane operational units in the world, with an annual production capacity of nearly 1.8 TWh. Furthermore, the advancements in technology, such as solar and wind power production for synthetic natural gas are also contributing to the growth of the market.

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The increasing emphasis on the reduction of greenhouse gas emissions is boosting the shift towards synthetic natural gas production. As the technology for producing synthetic natural gas becomes more efficient and cost-effective, it is likely to become a more prominent player in the global energy market.

For instance, according to the World Economic Forum, renewables capacity has grown significantly over the past few years. Thus, solar PV & wind power installations accounted for 96% of new capacity, with additions predicted to double by 2028, in comparison to 2022 levels, reaching almost 710GW.

This is expected to continue as governments and organizations strive to reduce their carbon footprint and meet their sustainability goals. Overall, these developments are projected to continue the rapid growth of the natural synthetic gas market in the coming years as more countries and industries embrace cleaner and more sustainable energy solutions.

Synthetic Natural Gas Market Report Highlights

• The renewable segment is anticipated to witness significant growth in the coming years due to increased demand for clean energy sources.
• The thermal gasification segment accounted for the largest market share, owing increased need for effective waste management.
• Power generation segment is projected to grow significantly over the forecast period due to increased availably of renewable energy sources.
• Asia Pacific dominated the market, attributable to increased awareness about sustainable energy sources.
• The global SNG market players include Air Products and Chemicals, Inc., Air Liquide, The Linde Group, Sasol, and Shell.

Polaris Market Research has segmented the synthetic natural gas market report based on source, technology, application, and region:

By Source Outlook (Revenue - USD Billion, 2020-2034)

• Coal
• Biomass
• Renewable Energy

By Technology Outlook (Revenue - USD Billion, 2020-2034)

• Anaerobic Digestion & Fermentation
• Thermal Gasification
• Power to Gas
• Fluidized Bed Gasifier
• Entrained Flow Gasifier

By Application Outlook (Revenue - USD Billion, 2020-2034)

• Anaerobic Digestion & Fermentation
• Thermal Gasification
• Power to Gas
• Fluidized Bed Gasifier
• Entrained Flow Gasifier

    By Regional Outlook (Revenue - USD Billion, 2020-2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Synthetic Natural Gas Report Scope