The potential demand for gas treatment technologies in hydrocarbon production and crude oil refinery in order to render them safe for industrial use is a key factor driving the demand for these chemicals. The rising application of gas treatment chemicals for the selective removal of harmful compounds is catalyzing the growth of the gas treatment technologies market. A new report by Transparency Market Research (TMR), titled “Gas Treatment Chemicals Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025”, presents an elaborate assessment of various factors and trends shaping the growth dynamics and opportunities in the market.
The market will gather robust growth momentum by the stringent implementation of several regional and global regulations pertaining to gas conditioning to make natural safe for public use. The widespread use of amine solutions in gas treatment technologies to remove unwanted chemicals is boosting the market.
The sustained focus on improving the quality of air in environment and the burgeoning research and development funding in developing and developed economies are noteworthy trends accentuating the growth the market. The market is likely to significantly benefit from the advent of advanced, customized gas treatment technologies for oil refiners and a constant supply of high quality solvents world over. Nevertheless, the strides taken by oil and gas production and exploration activities in the various parts of the world are unlocking ample opportunities for market players. Some of the key application areas can be its use in power plants, pulp and paper, metal and mining, food and beverages, and sugar industry.
The presence of cost-effective alternate gas treatment chemicals technologies and the exorbitant prices of advanced gas treatment chemicals may act as crucial bottlenecks to the growth of the market.
Of the various regional markets for gas treatment chemicals, Asia Pacific is set to rise at an attractive pace over the forecast period. The presence of coal-fired power plants in countries such as India and China is a notable factor fortifying the uptake. The affordability of raw material prices in various parts of the region is also accentuating the growth.
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Players likely to have a prominent presence in the market include Eunisell Chemicals, DOW Chemical Company, Ecolab Inc., Huntsman, and BASF SE.