Gas Treatment Market

The global gas treatment market is projected to witness healthy growth during the forecast period, 2019–2025. The market was valued at USD 4,738.8 million in 2018 and is projected to register a CAGR of 6.08% to reach USD 7,114.1 million by the end of 2025. In terms of volume, the market was sized at 2,287.8 kilotons in 2018 and is likely to exhibit a CAGR of 5.17% to reach 3,235.1 kilotons by the end of 2025. The significant growth of the oil & gas industry is majorly expected to fuel the growth of the global gas treatment market during the forecast period. The increase in energy consumption has increased the production of all the types of fuel, especially natural gas, which grew at a substantial rate for over 30 years. For instance, the natural gas production in the US in 2018 rose by 12% as compared to 2017, which was pegged at 30,588,702 million cubic feet in 2018 and 27,306,308 million cubic feet in 2017. Additionally, the growing shale gas exploration in North America is also expected to boost market growth. Furthermore, the growing adoption of shale gas extraction in the Asia-Pacific and Middle Eastern countries is likely to create immense growth opportunities for the market players during the forecast period. However, the growing awareness and preference for renewable energy sources is a major factor projected to hamper the global market growth during the forecast period.

According to Wantstats analysis, the global gas treatment market has been segmented based on product type, application, end-use industry, and region. Based on product type, the global market has been divided into amines and non-amines. The amines segment is also further segmented into primary, secondary, and tertiary amines, while non-amines are segmented into triazine, glycols, and others. The amines segment accounted for the largest share of 65.2% in 2018 due to their high consumption during the gas purification process coupled with easy availability. The segment was valued at USD 3,091.1 million in 2018; it is expected to register a CAGR of 6.26% to reach USD 4,697.4 million by the end of 2025. In terms of volume, the segment was sized at 1,397.2 kilo tons in 2018 and is projected to exhibit a CAGR of 5.36% to reach 2,000.3 kilotons by the end of 2025.

By application, the global gas treatment market has been classified into acid gas removal and dehydration. The acid gas removal segment dominated the global gas treatment market with a market share of 68.4% by value in 2018 due to stringent regulations toward acidic gas removal, which requires manufacturers to continuously remove acids and other wastes from gases. The segment was valued at USD 3,239.0 million in 2018; it is expected to register a CAGR of 6.31% to reach USD 4,937.4 million by the end of 2025. In terms of volume, the segment was sized at 1,445.2 kilotons in 2018 and is projected to exhibit a CAGR of 5.47% to reach 2,084.7 kilotons by the end of 2025.

Based on end-use industry, the global market has been divided into oil & gas, power plants, chemical, metallurgy, food & beverage, and others. The oil and gas segment accounted for the largest share of 52.1% in 2018 due to large production of various gases coupled with the consumption of gas treatment chemicals across the industry. The segment was valued at USD 2,466.6 million in 2018; it is expected to register a CAGR of 6.64% to reach USD 3,842.0 million by the end of 2025. In terms of volume, the segment was sized at 1,153.0 kilotons in 2018 and is projected to exhibit a CAGR of 5.8% to reach 1,699.6 kilotons by the end of 2025.

The North American market held the largest share of 31.0% in 2018 due to increase in shale oil extraction and growing oil and gas production in the region, which is expected to increase the consumption of gas treatment chemicals in the review period. The market was valued at USD 1,469.0 million in 2018 and is expected to exhibit a CAGR of 5.96% to reach USD 2,189.0 million by the end of 2025. In terms of volume, the regional market was sized at 683.3 kilotons in 2018 and is projected to register a CAGR of 5.05% to reach 958.0 kilotons by the end of 2025.