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Growing Power Generation by Renewable Source is Estimated to need Gas Treatment Market

HYDERABAD, TELANGANA, INDIA, December 14, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Gas Treatment Market is forecast to reach US$3.8 billion by 2026, after growing at a CAGR of 5.8% during 2021-2026. Gas treatment improves the quality of gas by adding cleaning agents. These cleaning agents are highly powerful that help in fighting the accumulation of harmful carbon, gum, and varnish deposits in the fuel system. Gas treatments are used in the removal of acid gases such as hydrogen sulphide and carbon dioxide gases, in gas plants, and refineries. Gas treatment technologies are used in traditional applications such as syngas and ammonia gas plants, sales gas, and liquefied petroleum gas facilities. Additionally, natural gas is used to generate electricity and produce useful thermal output. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/gas-treatment-Market-Research-500003

Key takeaways:

This IndustryARC report on the Gas Treatment Market highlights the following areas -

1. The Asia Pacific dominates the market of gas treatment due to increasing demand for gas treatment from the oil and gas industry which attracts investment from manufacturers in emerging and developing countries such as India, China, Japan, and Others.

2. According to the Oil & Natural Gas Corporation (ONGC), in India, crude oil production was 1788.92 TMT in 2020 which is 1.24% higher than in 2019. Therefore, according to India Brand Equity Foundation (IBEF), oil production is expected to rise 36 billion cubic meters (bcm) in 2021.

3. Additionally, increasing the adoption of amines in industrial plants and oil refineries to remove sour gases from liquid hydrocarbons such as liquefied petroleum gas is estimated to grow the gas treatment technology.

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Segmental Analysis:

1. Amines held the largest share of the global gas treatment market in 2020. Amines react with carbon dioxide in flue gas treatment which leads to the emission of compounds such as ammonia. Amines are used to remove hydrogen sulphide and carbon dioxide from gases.

2. Asia Pacific dominated the global gas treatment in 2020 with a share of 38%, due to the increasing oil and gas industry and government initiatives in Asian countries such as India, China, Japan, and others which is estimated to grow the demand for gas treatment.

3. Oil and gas dominated the global market of gas treatment in 2020 and is growing at a CAGR of 4.5% during 2021-2026. Gas treatments are used in natural gas plants or refineries for oil & gas processing. This treatment technology is also used for removing acidic gas and liquified petroleum gas.

4. The growth in the oil and gas industry is estimated to create an opportunity for market growth. Gas treatment is used for the quality improvement of liquified petroleum gas. Thus, increasing investment by the major companies in North America is estimated to grow the market size.

Competitive Landscape:

The top 5 players in the Gas Treatment Industry are -

1. BASF

2. Huntsman

3. Ecolab Inc.

4. Dow Chemical Company

5. Eunisell Chemicals

Click on the following link to buy the Gas Treatment Market Report:
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Related Reports:

A. Water Treatment Systems Market
https://www.industryarc.com/Report/18814/water-treatment-systems-market-for-food-and-beverages-market

B. Consumer Water & Air Treatment Market
https://www.industryarc.com/Report/10617/consumer-water-air-treatment-market.html

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