Feb 15, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Gas Treatment Market.
It was estimated prior to this unanticipated outbreak that the Gas Treatment Market is likely to witness an impressive CAGR of 6.2% during the forecast period. The gas treatment application is employed in the elimination of hydrogen sulfide and carbon dioxide gases from natural gas watercourse and from crude oil during refining phases. The growing demand for natural gas in different regions will bolster the claim for gas treatment application. Triggered by the rising urbanization and burgeoning economy, the demand for electricity is mounting fast, which further paces up the usage of natural gas as a fuel spring-well driven by its minimal environmental footmark and easy obtainability to suit the escalating demand.
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Gas Treatment is a method of adding cleaning agents in order to clean up the gas from harmful elements such as carbon, varnish, and others.
Gas Treatment is done through amines or non-amines. Acid-gas removal and dehydration are some of the eminent application areas where gas treatment is used.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as amines and non-amines. The amines segment is expected to hold the larger share of the market in the coming five years, in terms of both value and volume. The growth is attributed to the higher market share of amines, which is accentuated by their high rejuvenation ability and cost-effectiveness against other gas treatments.
By Application Type
Based on the application type, the market is segmented as acid gas removal and dehydration. The acid gas removal application segment is estimated to lead the market, in terms of both value and volume, during the forecast period. The growth of this segment is driven by the growing cognizance of natural gas as a cleanser source for electricity generation in different countries, such as Malaysia, Indonesia, China, and India and the rising compliance with the environmental protocols by various industries for curbing air pollution in the developed economies.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for gas treatment, globally, in terms of volume. The market is sustained by the presence of large industrial base in the region and the rising demand for gas treatment from the oil & gas sector. Further, various initiatives adopted by governments of different countries of the region to entice investments from various international companies are anticipated to drive the growth of the market during the forecast period. China and India are the growth engines of the region. North America and Europe are also expected to offer substantial growth opportunities in the coming five years.
Key players operating in the global Gas Treatment market are-
- BASF SE
- Berryman Chemicals Inc.
- Clariant International Ltd.
- Dowdupont Inc.
- Ecolab Inc.
- Eunisell Chemicals
- Hexion Inc.
- Huntsman International LLC
- Innospec Inc.
- Varichem International.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Gas Treatment analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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