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Gas Treatment Market 2024 - By Size, Share Analysis, Trends And Growth Forecast By 2033
Gas Treatment Market
As per the report, the gas treatment market size has grown strongly in recent years. It will grow from $4.21 billion in 2023 to $4.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The gas treatment market size is expected to see strong growth in the next few years. It will grow to $5.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
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Surging Demand For Natural Gas Drives Expansion Of The Gas Treatment Market
Rapidly growing demand for natural gas is expected to propel the growth of the gas treatment market going forward. Natural gas is used in gas treatment for extraction, removal, separation, and liquifying. An increase in demand for natural gas increases the demand for gas treatment. For instance, in 2021, according to the International Energy Agency, a France-based autonomous intergovernmental organization, global natural gas consumption is projected to expand at an average annual rate of 0.8% from 2022 to 2025. Therefore, the rapidly growing demand for natural gas is driving the growth of the gas treatment market.
Technological Advancements Driving Innovation In Gas Treatment Market
Technological innovation is a key trend gaining popularity in the gas treatment market. Major companies operating in the gas treatment market are advancing in their new technologies and research and developments in the gas treatment market. For instance, in November 2021, BASF, a Germany -based chemical company introduced OASE digilab, a technique to examine the makeup of the gas-treating agents in the OASE procedures instantly. Previously, this involved a time-consuming effort and difficult process that required sending samples from the processing at the various customers to two specialized BASF laboratories for analysis. However, with the latest technique, it combines a mobile NIR (near infrared) spectrometer with data processing (chemometrics). Shortly, users would be able to directly inject plant samples into the digilab gadget and instantly receive the component analysis.
The gas treatment market covered in this report is segmented -
1) By Type: Amines, Non-Amines
2) By Application: Acid Gas Removal, Dehydration
3) By End User: Power Plants, Refineries, Pulp And Paper, Metal And Mining, Food And Beverages, Oil And Gas, Sugar
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Major companies operating in the gas treatment market report are DuPont de Nemours Inc., Huntsman International LLC, Ecolab Inc., Clariant AG, BASF SE, Berryman Chemicals Pvt. Ltd., Eunisell Limited, Hexion Inc., Innospec Inc., Varichem International Inc., Exxon Mobil Corporation, Akzo Nobel N.V., Gas Processing Equipment Pvt. Ltd., Boldrocchi Group, Jacobi Carbons AB, Axens SA, Honeywell International Inc., Zeochem AG, Arkema S.A., Cabot Corporation, Calgon Carbon Corporation, Kuraray Co. Ltd., Mitsubishi Chemical Corporation, Sumitomo Chemical Co. Ltd., Eastman Chemical Company, Evonik Industries AG, Solvay S.A., Lanxess AG, Albemarle Corporation, The Chemours Company
Contents of the report:
1. Executive Summary
2. Gas Treatment Market Report Structure
3. Gas Treatment Market Trends And Strategies
4. Gas Treatment Market - Macro Economic Scenario
5. Gas Treatment Market Size And Growth
…..
27. Gas Treatment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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