The global gas treatment industry is being driven by the growing demand for natural gas across the globe. The electricity demand is rapidly rising owing to the improving economy and increasing urbanisation. This is expected to further augment the application of natural gas as a fuel source, owing to its minimal environmental footprint and easy availability. Furthermore, the growing investments to promote the discovery of new gas reserves across the globe have also created ample opportunities for the growth of the market. The dehydration segment, among other applications, is predicted to witness a considerable growth during the forecast period, as dehydration helps increase plant efficiency by promoting evaporation during processes such as refining and petrochemical.
In terms of region, the gas treatment industry in Europe is projected to witness a significant growth during the forecast period. The rising demand and increasing investments in power generation, petrochemicals, and oil and gas production due to the rise in shale gas exploration activities across the region are expected to propel the regional market growth over the next few years.
The treated natural gas is transported through pipeline from the production field to businesses and industries to generate electric power and heat. In September 2021, Huntsman Corporation (NYSE: HUN), one of the key players in the global gas treatment industry, announced that the company is implementing a natural gas surcharge of €125/metric ton on all sales of MDI in Africa, Europe, the Middle East, and India. Meanwhile, in September 2021, Petronas selected the OASE purple gas treatment technology developed by BASF SE (OTCMKTS: BASFY) for its second FLNG facility, PFLNG Dua. This technology helps remove carbon dioxide and hydrogen sulphide in natural gas applications. Such developments are expected to support the growth of the market in the forecast years.
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The major players in the global gas treatment market are BASF SE, Huntsman International LLC, Ecolab Inc., Berryman Chemical Inc., and Clariant International Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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