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Gas Treatment Market
The gas treatment market was valued at USD 3,572 Mn in 2017 and is expected to catapult to USD 4,950 Mn by the end of 2030.
$4,950
5.7%
North America
2022-2030
Global Gas Treatment Market Research (MRFR Insights)
The gas treatment market is projected to register a CAGR of 5.7% from 2022 to 2030. It is expected that the gas treatment market size will reach approximately USD 4950 billion by 2030. A clean and effective fuel to burn is natural gas. It is employed in the efficient production of power. There are far fewer hazardous gas emissions, such as carbon dioxide, than coal or other energy sources. Petrochemical companies, refineries, natural gas processing plants, and other industrial verticals substantially use the gas treatment process. The market for gas treatment will rise as a result of this. Untreated dangerous and toxic substances included in natural gas, such as carbon dioxide and hydrogen sulfide, can cause pipeline and vessel early failure and rapid failure. Before being released on a big scale, the treatment eliminates these dangerous compounds. Natural gas is highly sought after for the production of electricity. It is a cleaner energy source, and steam and gas turbines, which are used to produce electricity, are where it is most widely used.
COVID-19 Impact Analysis
The COVID-19 pandemic has harmed the need for gas treatment technology. One major industry impacted by the COVID-19 pandemic is the gas industry. In 2020, gas production was halted as a result of the shutdown. According to the U.S. Energy Information Administration (EIA), from March to April 2021, natural gas output decreased by 316 mmcf/d across all U.S. regions. As a result, the need for gas treatment may be hampered by the difficulty in producing gas.
Market Dynamics
The gas industry's growth is predicted to open up new market opportunities worldwide. The method of gas treatment improves the performance of liquified petroleum gas. Therefore, it is anticipated that large corporations' rising investment will stimulate the market. For example, the Canadian Association of Petroleum Producers (CAPP) estimates that Canadian oil and gas businesses will spend USD 27.3 billion in 2021. Additionally, it is anticipated that investment in Alberta's oil sands will increase from U.S. $6.7 billion in 2020 to U.S. $7.3 billion in 2021. As a result, these expenditures are anticipated to accelerate market expansion ly.
During this period, the gas treatment market is anticipated to increase due to governments worldwide investing in the natural gas sector. For instance, the U.S. Energy Information Administration (EIA) projects that natural gas production will rise to 384.9 billion cubic meters, or about half of the country's total natural gas production. It is predicted that the electric power sector will use around 38% of all the natural gas utilized in the U.S. In addition, India generated 127.01 billion units of electricity from renewable sources in 2021, according to the India Brand Equity Foundation (IBEF). By 2030, the Indian government wants to produce 523 GW of renewable energy. In addition, by 2029, India is anticipated to invest $500 billion in renewable energy. Consequently, it is anticipated that expanding the power generation scenario will increase the product demand during the forecast period.
Gas Treatment Market Drivers
- Increasing demand for natural gas owing to its low environmental footprint
Natural gas is a fuel that burns cleanly and efficiently and is utilized in a wide range of applications. Natural gas is becoming more popular since it emits fewer harmful gases than coal or other energy sources, such as carbon dioxide, leading to increased use. Despite being a fossil fuel, natural gas has substantially fewer warming gas emissions when used compared to coal or oil. When burned in a new, effective natural gas power station, natural gas produces 50% to 60% less carbon dioxide (CO2) than emissions from a new coal plant. The market for gas treatment will expand due to the growing demand for natural gas and its minimal environmental impact.
Additionally, since natural gas processing necessitates severing the raw natural gas from the condensate and water, using natural gas reduces emissions that are harmful to the environment. Additionally, it's important to effectively remove the contaminants, which include mercury, carbonyl sulfide (COS), carbon dioxide (CO2), mercaptans, hydrogen sulfide (H2S), carbon dioxide (CO2), and other sulfur compounds, to stay ahead of regulatory requirements and increasingly sour natural gas resources. Because of its small environmental impact, natural gas is becoming increasingly popular, one of the key factors propelling the growth of the worldwide gas treatment market.
- Growing power generation by renewable sources is estimated to need gas treatment
- The growing investment in the natural gas sector by governments across the globe
Market Restraints:
- Gas treatment technology poses a health risk during gas production
The gas treatment enhances the gas quality and is used to get liquefied petroleum gas free of sour gases. However, natural gas releases carbon dioxide during production and has a high level of toxic hydrogen sulfide. Headaches, wooziness, tremors, and other symptoms are brought on by carbon dioxide at concentrations between 40000 and 100000 ppm. Its extreme exposure (concentration >100000 ppm) can also have negative health effects like convulsions and coma. In addition, hydrogen sulfide is an extremely poisonous and flammable toxin that irritates the throat, nose, and eyes. As a result, the processing may be reduced due to numerous health impacts, which may interfere with the need for gas treatment.
Market Opportunities:
- Growing demand for engine downsizing and lightweight vehicles
Energy demand growth and the pharmaceutical industry's expanding requirements are two major drivers of opportunity in this market. Additionally, expanding uses in the chemical processing sector, such as refining oil and gas, offer tremendous prospects for participants in this market.
Segment Overview
By Type Insights
The gas treatment market segmentation based on type, includes amines, primary amines, secondary amines, tertiary amines, non-amines, triazine, glycols, and others. The gas treatment market growth was prominently high under the amines segment in 2021. They offer a higher potential for regeneration and are more affordable than other gas treatments, which drives market expansion. The requirement to eliminate pollutants from various gases, such as hydrogen sulfide, carbon dioxide, and nitrogen oxide, is driving an increase in the need for gas treatment processes. This demand is anticipated to fuel the market expansion for this category.
By Application Insights
The gas treatment market segmentation based on application, includes acid gas removal and dehydration. The acid gas removal segment had a prominent share in 2021. Natural gas is becoming more widely recognized as a cleaner energy source for electricity generation in various nations, including Malaysia, Indonesia, China, and India. This segment is also growing as more industries adhere to environmental regulations to reduce air pollution in developed economies.
Global Gas Treatment Market Share by Region, 2021 (%)
Gas Treatment Market Overview, by Regional
By region, the gas treatment market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific accounted for the most dominant market share. North America is projected to exhibit the highest CAGR during the review period.
Asia-Pacific
Asia-Pacific accounted for the most extensive gas treatment market share in 2021. The substantial industrial base in the area and the rising need for gas treatment from the oil and gas industry are credited with the region's growth. The gas treatment market is anticipated to increase during the forecast period due to several steps by governments in various nations, including China and India in the region, to entice investments from various international businesses.
North America
North America is anticipated to encounter the fastest growth rate during the forecast period. Due to the rising demand for environmentally friendly and efficient chemical processes, the oil and gas production, petrochemical, and power generating sectors are expected to boost the gas treatment market in this area.
Gas Treatment Market Competitive Landscape
The market includes tier-1, tier-2, and local players. The key market participants generally pursue new gas treatment market categories. Leading companies are concentrating on purchasing feed mills and small factories to grow their operations in domestic and international markets. For instance, in September 2021, A investment decision was made by Royal Dutch Shell plc (Shell) to construct an 820,000-tonne-per-year biofuels facility at the former Pernis refinery in Rotterdam, the Netherlands. With the help of this breakthrough, the company may generate renewable diesel made from waste and sustainable aviation fuel (SAF).
Prominent gas treatment market players include Dow, DuPont, Huntsman International, Ecolab, Clariant, BASF, Berryman Chemicals, Innospec, Varichem International, Eunisell Chemicals, and Hexion, among others.
Scope of the Gas Treatment Market Segmantation
Gas Treatment Market, By Type Outlook
- Amines
- Primary Amines
- Secondary amines
- Tertiary amines
- Non-amines
- Triazine
- Glycols
- Others
Gas Treatment Market, By Application Outlook
- Acid gas removal
- Dehydration
Gas Treatment Market, By Region Outlook
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia and New Zealand
- Rest of Asia-Pacific
- Rest of the World
- South America
- Middle East
- Africa
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
- Gas Treatment Market Forecast & Size:
To identify and estimate the market size for the gas treatment market segmented by type & application by value (in US dollars). Also, to understand the consumption/ demand created by consumers of gas treatment between 2022 and 2030 according to the gas treatment market forcast.
- Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges for the gas treatment market growth.
- Market Influencing Factors:
To find out the factors which are affecting the sales and gas treatment market size among consumers
- Impact of COVID-19:
To identify and understand the various factors involved in the gas treatment market affected by the pandemic
- Company Profiling:
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Intended Audience
- Manufacturers
- Raw Material Suppliers
- Retailers, Wholesalers, and Distributors
- Governments, Associations, and Industrial Bodies
- Investors and Trade Experts
Report Scope:
| Report Attribute/Metric | Details |
| Market Size | 2030: USD 4950 billion |
| CAGR | 5.7% CAGR (2022-2030) |
| Base year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the World (RoW) |
| Key Vendors | Dow, DuPont, Huntsman International, Ecolab, Clariant, BASF, Berryman Chemicals, Innospec, Varichem International, Eunisell Chemicals, Hexion |
| Key Market Opportunities | Growing demand for engine downsizing and lightweight vehicles |
Frequently Asked Questions (FAQ) :
The gas treatment market forecast period is 2022 - 2030
The market is growing at a CAGR of 5.7% over the next 10 years, according to the gas treatment market research.
North America is predicted to register the highest CAGR during 2022 - 2030
Asia-Pacific held the largest share in 2021
Dow, DuPont, Huntsman International, Ecolab, Clariant, BASF, and Berryman Chemicals are the major companies operating in the gas treatment market.
