Global Gas Treatment market report 2024, Forecast To 2033
4 Mar, 2024
The gas treatment market size has also seen significant growth, starting from$4.21 billion in 2023 and escalating to$4.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to environmental regulations, industrial expansion, rising concerns for health and safety, increasing demand for clean energy, and urbanization and industrialization. Forecasts suggest strong growth ahead, with expectations to reach$5.67 billion in 2028 at a CAGR of 6.2%. The growth in the forecast period can be attributed to stringent environmental regulations, rising global industrialization, focus on sustainable solutions, shift to renewable energy, urbanization, and pollution control. Major trends in the forecast period include customization and modular solutions, digital transformation in gas treatment, resilience against pandemics, globalization and trade compliance, and adoption of biogas and biomass.
Global Gas Treatment Market Key Driver
Rapidly growing demand for natural gas is expected to propel the growth of the gas treatment market going forward. Natural gas is used in gas treatment for extraction, removal, separation, and liquifying. An increase in demand for natural gas increases the demand for gas treatment. For instance, global natural gas consumption is projected to expand at an average annual rate of 0.8% from 2022 to 2025, according to the International Energy Agency. Therefore, the rapidly growing demand for natural gas is driving the growth of the gas treatment market. According to the 2028 market size projections, the gas treatment market is anticipated to witness significant expansion.
Get A Free Sample Of The Global Gas Treatment Market ReportGlobal Gas Treatment Market Segments
The global gas treatment market covered in this report is segmented –
1) By Type: Amines, Non-Amines
2) By Application: Acid Gas Removal, Dehydration
3) By End User: Power Plants, Refineries, Pulp And Paper, Metal And Mining, Food And Beverages, Oil And Gas, Sugar
By Geography: The regions covered in the gas treatment market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the gas treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gas treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Gas Treatment Industry Players
DuPont de Nemours Inc., Huntsman International LLC, Ecolab Inc., Clariant AG, BASF SE, Berryman Chemicals Pvt. Ltd., Eunisell Limited, Hexion Inc., Innospec Inc., Varichem International Inc., Exxon Mobil Corporation, Akzo Nobel N.V., Gas Processing Equipment Pvt. Ltd., Boldrocchi Group, Jacobi Carbons AB, Axens SA, Honeywell International Inc., Zeochem AG, Arkema S.A., Cabot Corporation, Calgon Carbon Corporation, Kuraray Co. Ltd., Mitsubishi Chemical Corporation, Sumitomo Chemical Co. Ltd., Eastman Chemical Company, Evonik Industries AG, Solvay S.A., Lanxess AG, Albemarle Corporation, The Chemours Company
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Gas Treatment Market Overview
Gas treatment refers to the processes used to prepare mine gas for end-use management options, such as pipeline injection, including dehydration, gas separation, and removal of non-methane components. Gas treatment is used to enhance gas quality by introducing potent cleaning chemicals that battle the build-up of hazardous deposits in the fuel system that can impair performance. The removal of water, which can cause fuel line freeze, is another feature of the design.
Gas Treatment Global Market Report 2023 provides data on the global gas treatment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The gas treatment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.