The report published by The Brainy Insights shows that the global gas treatment market is expected to grow from USD 4.90 billion in 2022 to USD 8.61 billion by 2032, The gas treatment market is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.8% between 2023 and 2032. Asia Pacific emerged as the largest market for global gas treatment, with a 38.8% market revenue share in 2022. Because the area has a strong industrial base and is seeing an increase in demand from the oil and gas industry. Additionally, the availability of economical raw materials and low-cost labor in the area and the region’s rising industrialization and urbanization would all contribute to the expansion of the gas treatment sector throughout the forecast period.
The demand for gas treatment products is driven by several factors, including increasing global energy consumption, stringent environmental regulations, and rising concerns regarding air pollution. The gas treatment market is expected to grow due to the increasing demand for cleaner and more efficient energy sources, such as natural gas and biogas. Additionally, the need to reduce emissions from industrial processes and power generation facilities is expected to boost the demand for gas treatment products. As a result, companies operating in the gas treatment industry are investing in research and development activities to develop innovative products that can meet the evolving needs of the market.
Leading companies of gas treatment in the industry include BASF SE, SAMSON CONTROLS INC, Huntsman International LLC, Ecolab Inc., Berryman Chemical Inc., Clariant International Ltd., DuPont, Amines & Plasticizers Ltd, and Eunisell Chemicals, among others, offer more significant opportunities and continuously focus on new product developments and venture capital investments to obtain market share.
Vegetable oils, animal fats, and others are the three segments of the market. The need for gas treatment processes is rising due to the growing demand to remove impurities from several gases, including hydrogen sulfide, carbon dioxide, and nitrogen oxide, which is anticipated to propel the market expansion for this category. The application category is categorized into various sub-segments such as refineries, sugar, metal & mining, power plants, oil & gas, pulp & paper, acid gas removal, and food & beverages. Among these, the acid gas segment is anticipated to exhibit the highest CAGR of 6.4% during the projected period. Acid gas removal is becoming more widely recognized as a cleaner form of energy generation in the area, and many businesses are becoming more environmentally conscious, fueling the expansion of the gas treatment market in this sector.
It extracts carbon dioxide and hydrogen sulfide gases from crude oil and natural gas streams during the refining process. Due to its minimal environmental impact and easy accessibility, natural gas is becoming a more popular fuel source to meet the growing demand for electricity due to rising urbanization and a more robust economy. The requirement for gas treatment would expand as natural gas demand grew in diverse locations. The environmental advantages of natural gas over other fuels and the increased public knowledge of these advantages can be credited with the growth of the gas treatment sector.