A cryogenic processing facility or plant is a system where natural gas flowing from a well is cooled to subzero temperatures in order to condensate the liquids or natural gas liquids (NGL). Unlike the natural gas used by consumers, gas produced from oil well, gas well or condensate wells holds a number of gas liquids, apart from methane as a main constituent. NGLs include butane, ethane, and propane. Ethane and propane are the heaviest among these gases, and they require cryogenic processes for its separation form the natural gas. NGLs finds usage in refineries or in petrochemical plants, primarily as fuels or feedstock. The methane gas that remains after the removal of NGLs is transported to the end-user via a pipeline. Cryogenic systems finds application in basic research, high tech and medical equipments & in the industry. In industry these systems are mainly used for obtaining desired gas products or liquid products by cryogenic separation. Apart from these NGLs, oxygen is also an important industrial gas. Oxygen cryogenic plants provide oxygen not only to industries but also to medical facilities. However, the major application of cryogenic processing facilities remains in the oil & gas industry (midstream), where the plant is installed at the well site, the NGLs are separated on-site and then transported to consumers. A cryogenic processing plant separates the NGLs from natural gas by chilling the incoming gas stream from well to -120 degrees Fahrenheit. This reduced temperature allows a blended liquid hydrocarbon mixture to be collected, which later is fed into a fractionation plant. This fractionation plant finishes processing the liquid hydrocarbon into high purity of butane, propane, ethane, and natural gas.

The major driver for the market of cryogenic processing facilities is the increased usage of natural gas as fuel. The natural gas as compared to the conventional fossil fuel (oil) causes less carbon emission, proving to be a more mature and environment-friendly energy. The natural gas being produced from the subsurface is not pure and contains other heavy gas liquids. It is of prime importance to separate and recover the NGLs, as they find application in industrial uses. A cryogenic processing facility allows the processing and recovery of heavy gases on-site. This makes the transportation of NGLs and natural gas easier. Another driver for this market is that the cryogenic facility increases the profitability of the conventional oil and gas operations. The NGLs separated are further treated and sold to end-users. Increased usage of NGV (natural gas vehicles) in developed as well as developing countries is another driver for the cryogenic processing facilities market. A major restraint for the cryogenic processing facilities market is the increasing usage of renewable energy resources. Another restraint is likely to be the cost involved in the installation of the plant or facility.

Demand for cryogenic processing facilities is estimated to rise, especially in North America. Recent development of shale oil and shale gas in the U.S. has increased the share of North America in the export of fossil fuels. In Middle East & Africa, cryogenic processing facilities are estimated to witness increased demand, especially in Qatar, due to the fact that the country holds a prominent deposit of natural gas. The cryogenic processing facilities market is likely to expand consistently in Asia Pacific and Europe due to increased usage of natural gas in the region.

Key players operating in the global cryogenic processing facilities market include ENERFLEX LTD, Honeywell International Inc., Joule Processing, SNC-Lavalin, Schlumberger Limited, Gas Liquids Engineering Ltd., GEA Group, Ross Group, and S-CON Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Cryogenic Processing Facilities Market

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