Gas Treatment Chemicals Market to Record an Exponential CAGR by 2025
Gas
treatment is a process of improving the quality of the gas by
removing undesirable compounds. Gas treating is also called as gas
conditioning, and the process usually uses amine solutions to absorb
unwanted acid gases such as hydrogen sulfide and carbon dioxide in
the atmosphere.
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Stringent
implementation of various regulatory and sustainable mandates
concerning the environment is expected to boost the demand for gas
treatment chemicals. Increase in industrial activity coupled with
rise in demand for gas treatment chemicals is anticipated to drive
the market. Moreover, growing contributions of various environmental
quality associations and R&D activities carried out by companies
to enhance the quality of air/gas is also propelling the gas
treatment chemicals market. However, factors such as increase in the
prices of gas treatment chemicals and presence of alternate treatment
technologies are anticipated to hamper the market. An alternative to
the usage of amines involves membrane technology. However, membrane
separation is less attractive due to the relatively high capital and
operating costs as well as other technical factors.
Based
on type, the gas treatment chemicals market can be divided into amine
and non-amine chemicals. In many cases, chemicals are customized for
selective treatment of gases. The amine segment is anticipated to
dominate the gas treatment chemicals market during the forecast
period due to the increase in demand for acid-gas treatment in
end-use industries. The amine segment can be further sub-segmented
into methyldiethanolamine (MDEA), monoethanolamine (MEA),
diethanolamine (DEA), and diisopropanolamine (DIPA). The most
commonly used amines in industrial plants are DEA, MEA, and MDEA.
These amines are also utilized in many oil refineries to remove sour
gases from liquid hydrocarbons such as liquefied petroleum gas (LPG).
In
terms of application, the gas treatment chemicals market can be
segregated into power plants, refineries, pulp & paper, metal &
mining, food & beverages, oil & gas, and sugar. Rise in
exploration activities of oil & gas reserves is boosting the
demand for the gas treatment chemicals. The refineries application
segment is anticipated to dominate the gas treatment chemicals
market.
In
terms of geography, the gas treatment chemicals market can be
segmented into North America, Latin America, Asia Pacific, Europe,
and Middle East & Africa. The Asia Pacific gas treatment
chemicals market is projected to expand at a significant CAGR in
terms of both, value as well as volume. Rise in number of industries,
increase in global population, rapid urbanization, easy availability
of low-cost labor, and affordable raw material prices in Asia Pacific
are key factors that are anticipated to fuel the gas treatment
chemicals market during the forecast period. The market in the region
is driven by the rise in number of coal-fired power plants in China
and India. Industrial air pollution control regulations in China have
been strengthened recently, and the regulations in India are expected
to be implemented in the near future. These regulations is also a
main driver for the demand of gas treatment chemicals market.
The
market in North America and Europe is anticipated to expand during
the forecast period due to the increase in environmental regulations
in these regions. Middle East & Africa is likely to be an
attractive region due to the increase in oil & gas explorations
and refineries, which demand the removal of undesirable compounds
from refinery and natural gas streams in order to make their products
safe for domestic or industrial usage.
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Key
players operating in the global gas treatment chemicals market
includes, BASF, Huntsman, Ecolab Inc., DOW Chemical Company and
Eunisell Chemicals.
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