The new report by Expert Market Research titled, ‘Global Gas Treatment Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global gas treatment market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): About USD 4.4 billion
• Forecast CAGR (2023-2028): 5.80%
• Forecast Market Size (2027): Around USD 6.2 billion
The gas treatment industry has been witnessing a considerable growth owing to the rapid industrialisation and urbanisation. The enforcement of strict air pollution control regulations in major regions worldwide is leading to a rise in demand for acid gas removal procedures. Furthermore, the discovery of new gas reserves across the globe is also expected to create significant opportunities for the growth of the market. Additionally, the increasing adoption of natural gas is expected to support the market growth in the forecast period, as these gas treatment systems are commonly utilised to treat and enhance the quality of natural gas for further use.
Industry Definition and Major Segments
Gas treatment is a process in which cleaning agents are added in order to remove carbon dioxide and hydrogen sulphide gases from crude oil and natural gas during the refining stage. Dehydration and acid gas removal are some of the major application areas where gas treatment is used.
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The global gas treatment industry, on the basis of type, can be divided into:
Among these, the amines segment is further divided, by type, into primary amines, secondary amines, and tertiary amines. At the same time, the non-amine segment is further divided, by type, into triazine, and glycols, among others.
Based on application, the industry is segmented into:
• Acid Gas Removal
The regional markets for gas treatment include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends guiding the growth of the market include the increasing focus to decarbonise the major industrial sectors and the growing need to curb pollution levels, globally. The increasing government focus to promote sustainability is leading to the implementation of stringent environmental regulations. This is likely to enhance the demand for gas treatment across various industries. Additionally, the increasing research and development activities by the leading market players to develop improved solutions for gas treatment are anticipated to further contribute to the market expansion in the forecast period. The development of advanced machinery and treatment systems will help achieve improved efficiency in demanding applications.
Key Market Players
The major players in the market are BASF SE, Huntsman International LLC, Ecolab Inc., Berryman Chemical Inc., and Clariant International Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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