by Gas treatment involves removing impurities from natural gas and refinery gas streams to meet quality standards for transportation and end-use. It helps remove acid gases like hydrogen sulfide and carbon dioxide as well as condensable hydrocarbons from wet natural gas. These products improve the combustion efficiency of fuel gases and help reduce corrosion. The global gas treatment market is expected to gain significant traction over the forecast period due to the growing need for cleaner fuels and established environmental standards.
The Global Gas Treatment Market is estimated to be valued at US$ 7.63 Bn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.
Key Takeaways
Gas Treatment Companies are BASF SE, Huntsman Corporation, Ecolab Inc., Dow Inc., Clariant AG, Advance Petrochemicals Ltd., and Akzo Nobel N.V.
Growing environmental regulations regarding emission of acid gases from industries and power plants is driving the demand for gas treatment systems. Stringent NOx emission standards imposed by regulatory bodies have urged end-use industries to reduce the sulfur content from feedstock.
Major players are expanding their global presence by enhancing their distribution networks across countries like China, India, and countries in the Middle East and Africa. Growing natural gas production and consumption across developing nations present new revenue pockets for market leaders.
Market key trends
Gas Treatment Market as Carbon capture and storage (CCS) is emerging as a viable solution to reduce greenhouse gas emissions from natural gas processing plants and power generation units. Key gas treatment product manufacturers are developing improved amine-based solutions for efficient CO2 capture from flue gases. They are also focusing on novel gas sweetening technologies like oxidative desulfurization using metal-organic frameworks to reduce operational costs.
Porter’s Analysis
Threat of new entrants: Low due to high fixed cost required for production facilities and R&D.
Bargaining power of buyers: Moderate as buyers have several product options.
Bargaining power of suppliers: Moderate as raw material suppliers have established presence.
Threat of new substitutes: Low as there are limited product substitutes available.
Competitive rivalry: High as the market is consolidated with major players competing on pricing and product quality.
Geographical Regions
North America accounts for the largest share of the market with the US being the major contributor. The large deposits of unconventional shale oil and gas in the region have boosted gas production driving higher demand for gas treatment.
Asia Pacific is poised to be the fastest growing regional market owing to rising energy needs of emerging economies like China and India. Increasing activities in offshore oil & gas fields and growing natural gas trade are spurring investments in gas treatment infrastructure across major APAC countries.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
