New York, Sept. 03, 2019 (GLOBE NEWSWIRE) -- The growth of the global gas treatment market is supplemented by the rise in demand for natural gas in various regions for power generation, likewise, the stringent air pollution control regulations, and surge in industrialization are the key factors that foster the growth of the global gas treatment market
The global Gas Treatment Market was valued at USD 3.77 Billion in 2018 and is expected to reach USD 5.85 Billion by year 2026, at a CAGR of 5.7 %. Gas Treatment Market is driven by the increasing demand for natural gas in various regions for power generation, likewise, stringent air pollution control regulations are alsp one of the factors which are anticipated to drive the gas treatment market. The world population is currently growing at the rate of nearly 1% per year in the year 2018-2019, with the increase in population and industrialization demand for electricity increases. Natural gas was the largest source of electricity production in USA, it accounts to about 35% of U.S. electricity generation in 2018 which is produced by using natural gas.
The global warming emissions are much lower from the combustion of natural gas, as compare to the emission from coal and oil. Natural gas is a fossil fuel, but it is environment friendly. Nitrogen oxides releases during combustion of natural gas, which are precursors to smog, but emission of nitrogen oxides is at lower levels than the gasoline and diesel used for motor vehicles. Gas Treatment Market is a common unit process used in refineries, petrochemical plants, natural gas processing plants and other industries. Environment protection acts of various country helps is the growth of the Gas Treatment Market by removing hydrogen sulfide and carbon dioxide from gases. Government of many countries have set stringent air pollution control regulations for the waste gas emission during process of natural gas extraction and industrial waste gas.
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Further key findings from the report suggest
- Gas treatment market is dominating by Amine type. Amine type is expected to grow and reach USD 2.45 Billion. Removal of acidic gas is the first step for the treatment of natural gas in plant or refinery. This process of removing acidic gas is also known as sweetening and most common method of sweeting is amine gas treatment
- In the global gas treatment market, the market share of acid gas was 62.8% in 2018, which is highest among other application. The large-scale utilization of electricity and increase in extraction of crude oil are the source of generation of acidic gas. Due to this acid gas removal accounted with largest market share in 2018
- In 2018, in U.S. about 35% of U.S. electricity generated from coal based electric plant, natural gas was the largest source of electricity production in USA
- Globally consumption of petroleum products has risen due to increase in vehicle usage, and this trend is likely to continue in the forecast period. Extraction of crude oil and further process for making petroleum product generates hydrogen sulfide and carbon dioxide gases, with this demand for the gas treatment also increases considerably
- Business expansion and investments are the key strategic developments undertaken by the key market players involved in the global gas treatment industry, likewise, the other strategic initiatives include product development, agreements and acquisition.
- Key participants in the global gas treatment market include DowDuPont Inc., BASF SE, Ecolab Inc., Huntsman International LLC, Berryman Chemicals Inc., SAMSON CONTROLS INC, Amines & Plasticizers Ltd., Eunisell Chemicals
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented Gas Treatment Market on the basis of type, application and region:
Gas Treatment Market, By Type (Revenue, USD Million; 2016–2026)
- Amines
- Monoethanolamine
- Diethanolamine
- Methyldiethanolamine
- Diglycolamine
- Glycol Dehydration
- Monoethylene glycol (MEG),
- Diethylene glycol (DEG
- Triethylene glycol (TEG).
- Triazine
- 1,2,3 Triazine
- 1,2,4 Triazine
- 1,3,5 Triazine
- Other
Gas Treatment Market, By Application (Revenue, USD Million; 2016–2026)
- Acid gas removal
- Dehydration
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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