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The global gas treatment market size was USD 3.7 Billion in 2022 and is expected to reach USD 6.09 Billion in 2032

NEW YORK CITY, NEW YORK, USA, May 1, 2023 /EINPresswire.com/ -- Market Overview:

The gas treatment market is expected to see a rapid revenue growth of 5.7% during the forecast period, with a projected revenue value of USD 6.09 Billion in 2032. This growth can be attributed to the strict government regulations aimed at reducing emissions from companies and the increasing demand for natural gas as an energy source across various industries. The gas treatment process involves the removal of unwanted components from gases to improve their quality, which is becoming increasingly necessary as the consumption of natural gas rises.
The demand for natural gas in various sectors, such as transportation, energy generation, and home heating, is driving the need for gas treatment. Impurities and pollutants must be eliminated during gas treatment to ensure that natural gas meets the required standards for pipeline transit or usage as fuel. This demand for pure, clean natural gas with low sulfur content is fueling the need for gas treatment goods and services.
There is an increasing awareness among the public about environmental issues and the need to reduce greenhouse gas emissions, which is driving the demand for gas treatment technologies that can efficiently remove impurities and pollutants from natural gas. Various governments have introduced laws such as the Clean Air Act and National Ambient Air Quality Standards (NAAQS), which are having a favorable impact on the gas treatment sector. As a result, there is a growing need for efficient gas treatment solutions that can meet the stringent environmental standards set by regulatory bodies.

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Gas Treatment Market: Segmentation

The base year for estimation is 2022, with historical data from 2020 to 2021, and a forecast period of 2022 to 2032. The quantitative units used to measure the market size and growth rate are in USD billion.
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Gas Treatment Market: Strategic Development

BASF SE made an announcement in 2021 about its development of a new technology that uses its FlexSORB technology to remove sulfur from natural gas. The technology boasts high sulfur capacity, making it more cost-effective and efficient than previous methods.
SUEZ, a company that provides environmental services, announced in 2021 that it signed a 10-year contract with PTTEP, a Thai oil and gas exploration and production company, for gas treatment services at the Arthit field in the Gulf of Thailand. The contract is worth over $160 million.
ExxonMobil Corporation completed a major expansion of its Fawley refinery in the UK in 2020, which includes a new gas treatment unit. The unit uses advanced technologies to remove impurities from natural gas, making it suitable for a variety of applications.

Gas Treatment Market: Competitive Landscape

These are 10 companies that operate in various industries and sectors.

ABB is a Swiss-Swedish multinational corporation that specializes in robotics, power, and automation technologies.
BASF SE is a German chemical company that produces and markets a wide range of chemicals, plastics, coatings, and other products.
Ecolab Inc. is an American multinational provider of water, hygiene, and energy technologies and services to a range of industries.
ExxonMobil Corporation is a multinational oil and gas corporation that engages in the exploration, production, transportation, and sale of crude oil, natural gas, and petroleum products.
Honeywell International Inc. is an American multinational conglomerate that produces a wide range of commercial and consumer products, including aerospace systems, building technologies, and performance materials.
Johnson Matthey PLC is a British multinational chemicals and sustainable technologies company that produces a wide range of products, including catalysts, chemicals, and precious metals.
Linde PLC is a multinational industrial gases and engineering company that provides industrial gases, engineering, and healthcare products and services.
Schlumberger Limited is a multinational oilfield services company that provides services to the oil and gas industry, including exploration, production, and reservoir management.
SUEZ is a French multinational corporation that provides water and waste management solutions to industrial, commercial, and municipal customers.

The Dow Chemical Company is an American multinational chemical corporation that produces a wide range of chemical products and materials, including plastics, resins, and coatings.

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