by The gas treatment market involves processes that aid in removing undesirable components from natural gas and synthesized gas. Impurities such as carbon dioxide, hydrogen sulfide, water vapor, and mercury are removed from the gas stream to enhance combustion efficiency and meet pipeline specifications. Technologies such as amines, glycol dehydration, and Triazine are used for acid gas removal and dehydration.
Key Takeaways
Gas Treatment Companies are Eaton, DEVELOP, BASF, DowDuPont, and Honeywell UOP.
Key opportunities in the market include rising natural gas production and consumption, stringent emission standards for sulfur and mercury, and focus on carbon capture and storage. Advancements in membranes and absorbents are enhancing acid gas removal efficiency and reducing energy consumption in the gas treatment process.
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.
Market drivers
Surging demand for natural gas as a transition fuel and feedstock is a major driver for the gas treatment market. Gas treatment enables the removal of corrosive components from natural gas and synthesis gas, improving combustion efficiency and protecting pipelines. Countries worldwide are investing heavily in gas processing infrastructure to monetize newer reserves and transport gas over long distances via pipelines. Stringent environmental norms regarding sulfur and mercury emissions from industrial facilities is another key factor augmenting the sales of gas treatment technologies.
Challenges in Gas Treatment Market
Gas treatment industry faces many challenges due to changing regulations around emission and effluent treatment. Strict environmental norms regarding the release of harmful gases like carbon monoxide, nitrogen oxide, sulfur oxide etc. have increased compliance burden on industry players. Development of economically viable and environment friendly gas treatment technologies is an ongoing challenge. Accidents during gas transportation and storage can impact both lives and business. Ensuring operational safety requires extensive compliance efforts and investment in new safety systems.
SWOT Analysis
Strength: Gas Treatment Market is driven by strict environmental regulations globally. Treatment of acid gases removes health and environmental hazards.
Weakness: High initial capital investment and operating costs of gas treatment plants is a major challenge. Technical complexities in adapting plants to process various gas mixtures.
Opportunity: Growth in shale gas and tight oil production drives demand for gas conditioning and processing equipment. Development of modular, mobile gas treatment units present new opportunities.
Threats: Volatility in crude oil prices impact investments in upstream gas projects. Substitution threat from renewable energy reduces demand growth for natural gas.
North America accounts for the largest share of the global gas treatment market, both in terms of value and volume. Stringent environmental norms regarding the release of harmful gases and growing shale gas production drive the North America gas treatment market. Asia Pacific is the fastest growing regional market for gas treatment. Factors such as increasing natural gas demand from China, India and Southeast Asian countries along with development of domestic shale gas reserves support the growth.
The gas treatment market witnesses highest demand from the Middle East region, mainly attributed to the presence of major oil and gas reserves. Countries like Saudi Arabia, Iran, Kuwait, UAE etc. have huge upstream gas projects which require extensive gas processing before transportation and usage. Growing energy needs especially in power and industrial sectors sustains high investment in regional gas infrastructure and treatment facilities.
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, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
