[109 Pages Report] The Gas Treatment Market size was valued USD 3.56 billion in 2017 and is projected to reach USD 4.96 billion by 2023, at a CAGR of 5.7% between 2018 and 2023. In this study, 2017 has been considered as the base year, while 2018–2023 is considered as the forecast period.
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Growing demand for natural gas and stringent air pollution control regulations are the major drivers of the gas treatment market. The discovery of new gas fields in many countries is also expected to drive the market during the forecast period.
On the basis of type, the amines segment is estimated to account for the largest share of the gas treatment market, during the forecast period, in terms of both value and volume. The high market share of amines is backed by its high regeneration ability and cost-effectiveness in comparison to other gas treatment.
Among applications, the acid gas removal segment is projected to lead the gas treatment market during the forecast period, in terms of value and volume. Gas treatment are widely used in oil & gas processing. The high demand in this segment can be attributed to the increasing awareness of natural gas as a cleaner source for electricity generation in various countries such as China, Malaysia, Indonesia, and India and the increasing adherence to environmental regulations by various industries for air pollution in developed countries.
APAC is the fastest-growing market for gas treatment, globally, in terms of volume. The growth of the APAC gas treatment market can be attributed to the large industrial base in the region and increased demand for gas treatment from the oil & gas industry. In addition, several initiatives undertaken by governments of different countries of the region to attract investments from various international companies are expected to propel the growth of the market during the forecast period.
The gas treatment market includes raw material suppliers, manufacturers of gas treatment, and end users. DowDuPont Inc. (US), Huntsman International LLC (US), BASF SE (Germany), Ecolab Inc., and Berryman Chemicals Inc. (US) are the leading players operating in the gas treatment market.
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