35.86 % of Global Gas Treatment Market Revenue is Generated by Power Plants Segment

Natural gas production will increase to 384.9 billion cubic meters (BCM), about half of all natural gas production is in the United States, according to the US Energy Information Administration (EIA). As a result, the electric power sector consumed around 38% of total natural gas usage in the United States. Furthermore, according to the India Brand Equity Foundation (IBEF), India generated 127.01 billion units of electricity from renewable energy sources in FY20. As a result, the Indian government intends to generate 523 GW of renewable energy capacity by 2030. Aside from that, by 2028, India is expected to invest USD 500 billion on renewable energy sources. As a result, it is projected that increasing the power generating scenario will necessitate gas treatment. Hence, all these factors led to the high demand for gas treatment in the market.

Data Bridge Market Research analyses that the Gas Treatment Market is expected to grow at a CAGR of 5.1% in the forecast period of 2021 to 2028 and is expected to reach USD 7,571,729.60 thousand by 2028. The market for gas treatment is expected to be driven by increasing demand for natural gas (NG) in various countries and rigorous air pollution control legislation.  

Key Findings of the Study

  • The gas treatment market is anticipated to reach a value of USD 7,571,729.60 thousand by 2028, with a CAGR of around 5.1% during the forecast period from 2021 to 2028.
  • North America dominated the gas treatment market in 2021 due to the increasing utilization of industrial filters and electrostatic precipitators, mainly in U.S. and Canada.
  • Asia Pacific is expected to register lucrative growth over the forecast period of 2021 to 2028 owing to rising demand for gas treatment from oil and gas industry in this region.
  • The acid gas segment accounted for the largest share in 2021 at 56.29 %. The rise in harmful gas emissions from power plants as well as refineries is expected to boost the gas treatment market growth.
  • The gas treatment market was adversely affected by COVID-19 outbreak. Due to a drop in demand and supply chain interruptions caused by the global COVID-19 pandemic, the gas treatment industry is projected to slow.

Rising Oil and Gas Industry Along with Attractive Investment in North America is Expected to Drive the Market's Growth Rate

The oil and gas industry's expansion is expected to provide up new market opportunities. Gas treatment is a process that improves the quality of liquefied petroleum gas. As a result, the market size is expected to grow as big corporations in North America increase their investment. Furthermore, Alberta's oil sands investment is predicted to expand from USD 6.7 billion in 2020 to USD 7.3 billion in 2021. Additionally, investments in oil sands operations and conventional oil and gas production are predicted to roughly double between 2020 and 2021, from USD 19 billion to USD 21 billion. As a result, such investments are expected to increase demand for gas treatment.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2021 to 2028

Base Year

2020

Historic Years

2019 (Customizable to 2018 - 2013)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (Tertiary Amine, Primary Amine, Secondary Amine, Non-Amines), Type of Gas (Acid Gas, Synthesis Gas), Treatment (Acid Gas Removal, Dehydration, Others), Technology (OASE (BASF SE), Flexsorb (Exxon Mobil Corporation), ADIP (Royal Dutch Shell Plc), UOP (Honeywell International Inc.), SPREX (Axens), Others), Industry (Power Plants, Refineries, Metal & Mining, Oil & Gas, Pulp & Paper, Food & Beverages, Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, the rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Hong Kong, Taiwan, rest of Asia-Pacific, UAE, Saudi Arabia, Egypt, Israel, South Africa, rest of the Middle East and Africa.

Market Players Covered

BASF SE (Germany), DOW (US), Exxon Mobil Corporation (US), Royal Dutch Shell plc (UK), Honeywell International Inc. (US), INEOS (UK), Eastman Chemical Company (US), Clariant (Switzerland), Ecolab (US), Huntsman International LLC. (US), Cabot Corporation (US), Lhoist (Walloon Region), Axens (Rueil-Malmaison), BERRYMAN CHEMICAL (US), Eunisell Chemicals (Nigeria)

Data Pointers Covered in Report

The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.           

Segment Analysis:

The gas treatment market is segmented on the basis of type, type of gas, treatment, technology, and industry.

  • On the basis of type, the global gas treatment market is segmented into a primary amine, secondary amine, tertiary amine, and non-amines. In 2021, tertiary amine is expected to dominate the market with 43.61% market share due to the use of tertiary amine in gas treatment has increased in both commercial and industrial settings.

In 2021, the Tertiary Amine Segment of Application Segment is Anticipated to Dominate the Gas Treatment Market

In 2021, the tertiary amine segment of this market will dominate the gas treatment market owing to the use of tertiary amine in gas treatment has increased in both commercial and industrial settings. The tertiary amine segment is expected reach the highest CAGR of 5.5% in the forecast period of 2021-2028.

  • On the basis of the type of gas, the global gas treatment market is segmented into acid gas and synthesis gas. In 2021, the acid gas segment is expected to dominate the global gas treatment market with 56.29% market share due to the rise in harmful gas emissions from power plants as well as refineries.

In 2021, the Acid Gas Segment is Projected to Hold the Largest Share of Distribution Channel Segment in the Gas Treatment Market

In 2021, the acid gas segment is anticipated to hold the largest share of the global gas treatment market due to the rise in harmful gas emissions from power plants and refineries. The acid gas segment is growing with a CAGR of 5.4% in the forecast period of 2021 to 2028.

  • On the basis of treatment, the global gas treatment market is segmented into dehydration, acid gas removal and others. In 2021, acid gas removal is expected to dominate the market with 46.43% market share due to the upsurge in demand for an eco-friendly environment, usually in developing countries post COVID-19.
  • On the basis of technology, the global gas treatment market is segmented into SPREX (Axens), ADIP (Royal Dutch Shell plc), UOP (Honeywell International inc.), OASE (BASF SE), Flexsorb (Exxon Mobil Corporation), and others. In 2021, OASE (BASF SE) is expected to dominate the market with 12.43% market share because to fulfil rigorous pollution rules, it enables selective Sulphur removal and great energy efficiency.
  • On the basis of industry, the global gas treatment market is segmented into refineries, power plants, pulp & paper, metal & mining, food & beverages, oil & gas, and others. In 2021, power plants are expected to dominate the market with 35.86% market share due to rising number of regulations from power plants against harmful gas emissions.

Major Players

Data Bridge Market Research recognizes the following companies as the major gas treatment market players in gas treatment market are Huntsman International LLC. (US), and Cabot Corporation (US).

Market Development

  • In October 2021, Royal Dutch Shell Plc (Shell) had announced a final investment decision to build an 820,000-tonnes-per-year biofuels facility at the Shell Energy and Chemicals Park in Rotterdam, formally called Pernis refinery. Once completed, the facility will be one of Europe's largest for producing sustainable aviation fuel (SAF) and waste-derived renewable diesel. A facility of this magnitude can produce enough renewable diesel fuel to avoid 2,800,000 tonnes of CO2 emissions per year
  • In October 2021, ExxonMobile initiated the process for engineering, procurement, and construction contracts as part of its plans to expand carbon capture and storage (CCS) at its LaBarge, Wyoming facility. The LaBarge enlargement project is in the design and permitting stages, and third parties have been asked to submit proposals for engineering, procurement, and construction contracts. ExxonMobil Low Carbon Solutions is looking into a number of other large-scale carbon capture and storage projects in the United States, Europe, and Asia. The corporation owns around one-fifth of global CO2 capture capacity and has captured over 40% of all anthropogenic CO2 captured worldwide.
  • In September 2021, Unconventional Gas Solutions LLC had announced the launch of new line of process solutions for renewable natural gas (RNG), renewable hydrogen production and hydrogen recovery from industrial processes. Verdant Process Systems relies on the UGS team's experience developing and building industry-leading gas processing systems for major RNG and hydrogen firms by leveraging their gas separations knowledge.

Regional Analysis

Geographically, the countries covered in the gas treatment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the Dominant Region in Gas Treatment Market during the Forecast Period 2021 - 2028

North America will continue to dominate the gas treatment market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing utilization of industrial filters and electrostatic precipitators, mainly in U.S. and Canada. Due to the easy and advanced production of electronics devices with high-quality materials and expanding government initiatives for gas treatment in the region, the United States is likely to dominate the gas treatment market.

Asia-Pacific is Estimated to be the Fastest Growing Region in Gas Treatment Market the Forecast Period 2021 - 2028

Asia-Pacific is expected to grow during the forecast period due to the rising demand for gas treatment from the oil and gas industry. Due to the increased use of natural gas as a cleaner source of energy generation in the region, China is likely to dominate the gas treatment market.

COVID-19 Impact Analysis

The demand for gas treatment technology has been harmed as a result of the COVID-19 outbreak. One of the primary businesses that the COVID-19 pandemic has impacted is the oil and gas industry. Gas production was halted in 2020 due to the lockout. Natural gas output in the United States fell by 316 MMcf/d from March to April 2021, according to the US Energy Information Administration (EIA). As a result, a reduction in gas production may reduce the need for gas treatment.

Due to a drop in demand and supply chain interruptions caused by the global COVID-19 pandemic, the gas treatment industry is projected to slow. Due to witnessing the manufacturing in several countries, the chemical sector has been significantly impacted by the worldwide lockdown. Because it is the most common use for gas treatment, it limits the market's growth prospects.

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