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BANGALORE, India , Aug. 22, 2022 /PRNewswire/ -- The global Gas Treatment Market is segmented by Type - Amines, Non-Amines, by Application - Acid Gas Removal, Dehydration. Global Opportunity Analysis and Industry Forecast, 2022 - 2028. It is published in Valuates Reports under the Energy & Utilities Category.
The global Gas Treatment market size is projected to reach USD 4791.5 million by 2028, from USD 3389.3 million in 2021, at a CAGR of 4.6% during 2022-2028.
Major Factors Driving The Growth of The Gas Treatment Market are
The increasing demand for natural gas for power generation and electricity due to its eco-friendly nature will fuel the growth of the market during the forecast period.
The stringent air pollution control rules and demand for gas treatment for ensuring compliance with strict environmental standards will drive the growth of the market.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL GAS TREATMENT MARKET
Natural gas is a clean and efficient burning fuel. It is used for the effective generation of electricity. The emission of toxic gasses such as carbon dioxide is far less than coal or other energy sources. The gas treatment process is used extensively in petrochemical plants, refineries, natural gas processing plants, and other industry verticals. This will expand the growth of the gas treatment market. Natural gas contains poisonous and toxic elements such as hydrogen sulfide and carbon dioxide which, left untreated, can lead to sudden failure of pipelines and premature vessels. The treatment method removes these harmful substances before large-scale release.
Government authorities around the world are enacting air pollution control regulations for waste gas emissions during natural gas extraction and industrial waste treatment. The release of flue gas during fossil fuel burning contains hazardous pollutants such as sulfur dioxide, mercury, carbon dioxide, and particulate matter. This can drastically affect regional and local air quality. This will augment the growth of the gas treatment market during the forecast period. The toxic gas is usually sent to an electrostatic precipitator or passed through fabric filters. The devices eliminate harmful substances like ash by electrostatically charging them. They then get deposited on plates or other collection containers.
The demand for natural gas is high for power generation. It is a greener source of energy with the most extensive use in steam and gas turbines for generating electricity. While coal and petroleum come in second. Coal-powered plants also convert the substance into gas for use in a gas turbine. This will boost the growth of the gas treatment market in the upcoming years. Residual fuel oil, petroleum coke, and diesel fuel oil are also burned and treated in the turbines.
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GAS TREATMENT MARKET SHARE ANALYSIS
Based on type, the amines segment will dominate the gas treatment market share due to their high rejuvenating capability and cheaper methodology than other treatment procedures.
Based on application, the acid gas removal segment will be the most lucrative due to the demand for natural gas from several industry verticals and the need for strict adherence to environmental protocols for reducing air pollution.
Based on region, Asia-Pacific will grow the highest in the gas treatment market share due to the widespread presence of a large industrial base and the need for gas treatment in the oil and gas industry. Moreover, favorable government support and rising investments will also bolster the demand.
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