|
Forecast
Period
|
2025-2029
|
|
Market
Size (2023)
|
USD 4.48
billion
|
|
CAGR
(2024-2029)
|
5.23%
|
|
Fastest
Growing Segment
|
Acid
Gas Removal
|
|
Largest
Market
|
Asia Pacific
|
|
Market
Size (2029)
|
USD 6.01
billion
|
Market Overview
Global Gas Treatment Market was valued at USD 4.48
billion in 2023 and is anticipated to project robust growth with a CGAR of 5.23%
through 2029. Gas treatment processes play a crucial role in various industries,
ensuring the removal of impurities and the maintenance of equipment efficiency
and longevity. Industries such as oil & gas, chemicals, and power
generation have a particularly high demand for gas treatment solutions, which
in turn contributes to the overall growth of the market. Advancements in technology and an
increased focus on sustainability have sparked innovation in the gas treatment
sector. This has led to the development of more efficient and eco-friendly gas
treatment solutions, addressing the growing need for environmentally conscious
practices in industries worldwide. These factors, combined with the rising
industrial needs and environmental concerns, are expected to continue driving
the global gas treatment market in the foreseeable future.
The global gas treatment market is
experiencing a positive growth trajectory. With the increasing importance
placed on environmental sustainability and the continuous advancement of
technology, the demand for effective gas treatment solutions is only set to
rise. As we move towards a more eco-conscious world, the significance of gas
treatment processes in maintaining clean and efficient operations across
industries will continue to grow.
Key Market Drivers
Increase in Production of Shale Gas
Shale gas has accounted for a staggering 63% of the
total increase in natural gas production globally. This rise in shale gas
production can be attributed to significant advancements in exploration and
drilling technologies, such as hydraulic fracturing (fracking) and horizontal
drilling. These cutting-edge techniques have revolutionized the industry,
boosted production volumes, and reduced costs. The extraction of shale gas from
underground rock formations has become increasingly efficient and economically
viable.
The growth in shale gas production has not only
transformed the energy landscape but also had a direct impact on the global gas
treatment market. Gas treatment processes play a crucial role in removing
impurities, such as hydrogen sulfide and carbon dioxide, from shale gas. By
ensuring the efficiency and longevity of equipment used in its extraction,
processing, and transportation, gas treatment solutions are essential for
maintaining the quality and safety of shale gas.
The environmental concerns associated
with shale gas production have necessitated the use of advanced gas treatment
methods. As the industry strives for sustainability and reduced environmental
impact, innovative techniques like carbon capture and storage (CCS) and
membrane separation are gaining traction. These developments present further
opportunities for growth and innovation within the gas treatment market.
The increase in shale gas production
is not only a significant driver of the global gas treatment market but also a
game-changer for the entire energy sector. As the demand for shale gas
continues to surge, it is expected to further stimulate the gas treatment
market, paving the way for new advancements, collaborations, and opportunities.
The future of shale gas and gas treatment holds immense potential for
addressing energy needs while minimizing environmental impact.
Growth in Industrialization
Industrialization plays a pivotal role in this
expansion. As industries proliferate and new manufacturing plants are
established, the demand for gas treatment solutions increases proportionately.
These treatment processes are essential in various sectors, including oil &
gas, power generation, and chemical industries, to remove impurities from
gases, ensuring the efficiency and longevity of equipment.
As the demand for industrial gases
continues to grow in sectors such as food & beverages, electronics, and
healthcare, the global market for gas treatment is experiencing a significant
boost. The expanding industrial activities in these sectors, driven by
industrialization, necessitate the use of high-quality industrial gases. This drives the demand for gas treatment solutions to ensure the purity and
reliability of these gases.
The surge in industrialization is a
significant driver of the global gas treatment market. With increasing
industrial activities and the rising demand for high-quality industrial gases,
the gas treatment market is set to continue its upward trajectory in the coming
years. The continuous advancements in gas treatment technologies and the
adoption of sustainable practices in the industry contribute to the overall
growth and development of this market.
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Key Market Challenges
Volatility in Cost of Raw Materials and
Availability of Chemicals
Raw materials frequently experience market
volatility, often resulting from supply disruptions, pent-up demand, or
significant peaks and troughs. This volatility directly impacts the production
costs in the gas treatment market.
Price increases and supply chain instability are
expected to continue but are difficult to predict. The availability of raw
materials can be impacted by various factors, including world events, economic
disruption, and climate changes. These factors not only affect the cost of
production but also disrupt the regular supply of essential raw materials,
posing a significant challenge to the global gas treatment market.
The volatility in global commodity
markets is expected to intensify in the coming years, driven by lingering
geopolitical concerns and the rapid transition to low-carbon technologies. This
increased volatility extends to the chemicals essential for gas treatment
processes, further complicating the market scenario.
The availability of chemicals used in gas
treatment is another critical factor impacting the market dynamics. The raw
materials utilized in the production of these chemicals are particularly
vulnerable to price fluctuations and shortages. Limited access to
known mineral deposits poses a significant risk factor, contributing to the
challenge of ensuring a stable supply chain for gas treatment operations.
The gas treatment market overall faces
multifaceted challenges arising from the volatility of raw material prices,
disruptions in the supply chain, and the increasing market uncertainties driven
by geopolitical factors and the transition to low-carbon technologies.
Addressing these challenges requires proactive strategies and close monitoring
of global market trends.
Key Market Trends
Growth in Adoption of Renewable Energy
Renewable energy, with its ability to harness
natural resources like sunlight, wind, and water, has emerged as a promising
solution to meet the ever-increasing global energy demand. It is estimated that
renewable energy sources can potentially supply two-thirds of the total global
energy demand, making a significant contribution towards reducing greenhouse
gas emissions and combating climate change. This shift towards renewable energy
has not only transformed the energy landscape but has also brought about a
profound impact on various sectors, including the gas treatment market.
When we talk about the intersection between
renewable energy and gas treatment, one area that stands out is the renewable
natural gas (RNG) sector. RNG, also known as biogas, is a type of bioenergy
generated from organic waste materials such as agricultural residues, food
waste, and wastewater. RNG is well-known due to its renewable
nature, as well as its ability to reduce greenhouse gas emissions when compared
to traditional fossil fuels. RNG can be seamlessly integrated into existing
natural gas infrastructure, making it a viable and sustainable energy option.
In the production of RNG, gas treatment processes
play a crucial role. These processes involve the removal of impurities and
contaminants from the biogas to ensure that it meets regulatory standards and
is safe for use. As the RNG market continues to expand, driven by the growing
demand for cleaner and greener energy sources, the gas treatment market
experiences a parallel growth trajectory. This presents an exciting investment
opportunity for stakeholders and drives innovation in gas treatment technologies.
Rising Adoption of Carbon Capture and Storage (CCS)
The global gas treatment market is experiencing a
significant and transformative trend that is the increasing adoption of Carbon Capture
and Storage (CCS) technology. This innovative approach enables the capture of
carbon dioxide (CO2) emissions from various sources such as power plants and
industrial processes, effectively preventing their release into the atmosphere.
Carbon Capture and Storage (CCS) is a
groundbreaking technology that has the potential to capture up to 90% of CO2
emissions generated from the use of fossil fuels in electricity generation and
industrial operations. By capturing and securely storing CO2 underground, CCS
plays a crucial role in mitigating climate change and reducing greenhouse gas
emissions. This technology not only addresses the urgent need for sustainable
practices but also allows industries to maintain their production levels while
minimizing their environmental impact.
CCS has gained recognition as a highly effective
method for tackling climate change and ensuring a low-carbon future. Its
implementation aligns with global efforts to transition towards sustainable
energy sources and reduce reliance on fossil fuels. As governments and
industries worldwide intensify their focus on sustainability, CCS emerges as a
key solution to achieve ambitious emission reduction targets.
Within the gas treatment market, CCS represents a
critical component in the value chain. Before CO2 can be transported and
stored, it must undergo a comprehensive gas treatment process. Gas treatment
technologies play a pivotal role in this process by removing impurities,
conditioning the gas, and ensuring it meets the necessary transportation and
storage requirements. These advanced gas treatment solutions are essential to
ensure the safe and efficient implementation of CCS projects.
The growth of CCS presents immense opportunities
within the gas treatment market. As more industries embrace CCS technology to
fulfill their sustainability goals, the demand for reliable and effective gas
treatment solutions will inevitably surge. This trend not only drives
innovation in gas treatment technologies but also stimulates the development of
new solutions and strategies to optimize the CCS value chain.
Segmental Insights
Type Insights
The amine gas removal segment is projected to
experience rapid growth during the forecast period. Amines, particularly
alkanolamines like monoethanolamine (MEA), diethanolamine (DEA), and methyl
diethanolamine (MDEA), are highly effective at removing acid gases such as
carbon dioxide (CO2) and hydrogen sulfide (H2S) from natural gas and industrial
gas streams. Acid gases are corrosive and can damage pipelines and equipment,
so their removal is critical.
Amine-based gas treatment processes have been used
for many decades and are considered a well-established and reliable technology.
This history of successful use has built trust among industry professionals.
These processes involve the use of specialized equipment, including absorbers
and regenerators, to capture and separate acid gases from the gas streams.
The amine-based gas treatment process can be
customized to meet specific gas stream requirements. By selecting the
appropriate amine formulation and process conditions, it is possible to achieve
the desired levels of gas purity and meet regulatory standards. The
customization options include variations in the type and concentration of
amines used, as well as the operating temperature and pressure.
Amine-based gas treatment processes can be easily
scaled up or down to accommodate varying gas flow rates and impurity
concentrations. This scalability makes them suitable for both large industrial
facilities and smaller applications. The flexibility of these processes allows
for efficient and cost-effective gas treatment solutions for a wide range of
industries.
In addition to their role in removing acid gases
from natural gas and industrial gas streams, amines also play a crucial role in
the production of high-purity hydrogen gas. Hydrogen gas is used in a variety
of industries, including petrochemicals and fuel cells. Amines are used to
remove impurities like CO2 and H2S from hydrogen-rich gas streams, ensuring the
production of high-quality hydrogen.
Application Insights
The acid gas removal segment is projected to
experience rapid growth during the forecast period. Stringent environmental
regulations, implemented by governments worldwide, are aimed at reducing air
pollution and greenhouse gas emissions, particularly the emission of sulfur
dioxide (SO2) and other acid gases from industrial processes, power plants, and
refineries. These regulations have become a driving force behind the
development and implementation of effective acid gas removal systems.
Compliance with these regulations is crucial to ensure environmental
sustainability and protect public health.
Acid gas removal technologies are particularly
important for power plants, especially those fueled by coal and natural gas.
These plants are major contributors to SO2 and NOx (nitrogen oxides) emissions,
which need to be effectively removed to meet emissions regulations and prevent
the formation of acid rain. By employing advanced acid gas removal systems,
power plants can significantly reduce their environmental footprint and
contribute to a cleaner and healthier atmosphere.
In the oil and gas industry, acid gas removal is
also essential in the upstream, midstream, and downstream sectors. Gases
produced during oil and gas operations often contain hydrogen sulfide (H2S) and
carbon dioxide (CO2), which pose significant safety risks and can damage
equipment if not properly managed. Through the implementation of reliable acid
gas removal processes, the industry can ensure the safety of personnel, protect
critical equipment, and meet the stringent pipeline specifications for gas quality.
By addressing the challenges associated with acid
gas removal and implementing effective solutions, industries and governments
can work together to achieve sustainable development goals, promote
environmental stewardship, and safeguard the well-being of both present and
future generations.
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Regional Insights
Asia Pacific emerged as the dominant player in the Global Gas Treatment Market in 2023, holding the largest market share in terms of value. The Asia Pacific region, including countries like China and India, experienced rapid industrialization, and economic growth. Growing environmental concerns and the need for sustainable development in the Asia Pacific region drove the demand for advanced gas treatment technologies. Governments in the region, recognizing the urgency to address air pollution, imposed strict emissions limits on industries, power plants, and vehicles. This regulatory framework compelled industries to adopt effective gas treatment solutions to reduce pollutants and comply with the stringent emissions requirements.
In addition to the increasing focus on emissions reduction, the Asia Pacific region also witnessed a surge in the demand for energy, particularly natural gas and renewable gases. This growing energy demand was driven by various factors, including population growth, urbanization, and the transition towards cleaner energy sources. Gas treatment processes played a vital role in purifying and conditioning gases for diverse applications, such as power generation, industrial processes, and transportation, ensuring the efficient and sustainable utilization of these energy resources.
Countries like China make substantial investments in natural gas infrastructure, including the development of pipelines, liquefied natural gas (LNG) terminals, and gas-fired power plants. Gas treatment technologies have often become crucial to process and transport natural gas safely and efficiently, meeting the increasing demand for clean and reliable energy across the region.
Recent Developments
In
January 2023, SPG Steiner GmbH expanded its strategic cooperation agreement
with Evonik. Evonik, a specialty chemicals company, and the technology group
SPG Steiner have successfully collaborated to focus on defossilization and
enhance plant efficiency within the energy industries through Evonik’s gas
separation technologies. Evonik's PURAMEM VOC membrane introduces a novel
polymer-based membrane technology designed for the efficient separation of
long-chain hydrocarbons from natural gas or nitrogen mixtures. This technology
boasts consistently high selectivity over prolonged periods, even under
demanding operating conditions, and has been specifically optimized for
specialized applications, such as natural gas processing, emission control in
tank farms, or within the chemical and process industries.
Key Market Players
- BASF SE
- Huntsman International LLC
- Ecolab
Inc.
- The Dow Chemical Company
- Eunisell
Limited
- Algoma
Central Corporation
- Advance
Petrochemicals Ltd
- Akzo
Nobel N.V.
- Exxon
Mobil Corporation
- Dorf
ketal Chemicals (I) Pvt. Ltd.
|
By
Type
|
By Application
|
By
Region
|
|
|
- Acid Gas Removal
- Dehydration
|
- North
America
- Europe
- Asia
Pacific
- South
America
- Middle
East & Africa
|
Report Scope:
In this report, the Global Gas Treatment Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Gas Treatment Market, By
Type:
o Amines
o Non-Amines
- Gas Treatment Market, By
Application:
o Acid Gas Removal
o Dehydration
- Gas Treatment Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Gas
Treatment Market.
Available Customizations:
Global Gas Treatment Market report with the given
market data, Tech Sci Research offers customizations according to a company's
specific needs. The following customization options are available for the
report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
Global Gas Treatment
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