New York, United States , March 22, 2023 (GLOBE NEWSWIRE) -- The Global Hydrogen Sulfide Scavengers Market Size is to grow from USD 1.29 billion in 2021 to USD 2.01 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period. The increasing adoption of hydrogen sulfide scavenger by different industries such as water treatment, oil & gas, waste management, and others is the key driving factor.
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Hydrogen sulfide scavenger, commonly known as H2S scavenger, is a specialized chemical or fuel additive that is widely practiced in the hydrocarbon and chemical processing sectors. It is an odorless and translucent chalcogen-hydride gas that is harmful, corrosive, and flammable in trace concentrations, with a distinct bad stench in the ambient atmosphere. The most common types of H2S scavengers include water-soluble scavengers, oil-soluble scavengers, and metal-based scavengers. The aim to increase sweetened oil production, as well as the necessity for quick and cost-effective H2S removal techniques, is projected to drive demand over the forecasted period. Considering hydrogen sulfide scavengers are widely used in many industries, including water treatment and oil and gas, the global market for such chemicals is expected to grow significantly throughout the forecast timeframe.
The water-soluble segment dominated the market with the largest share over the forecast period.
Based on type, the Global Hydrogen Sulfide Scavengers Market is segmented into water-soluble, oil-soluble, and metal-based. Among these, the water-soluble segment dominated the market with the largest share. The efficacy of water-soluble hydrogen sulfide scavengers is mostly responsible for the removal of H2S from condensate, LPG, residues, crude oil, and gas systems.
The regenerative segment is witnessing significant CAGR growth over the forecast period.
On the basis of the process, the Global Hydrogen Sulfide Scavengers Market is segmented into regenerative and non-regenerative. Among these, the regenerative segment is witnessing significant CAGR growth over the forecast period. This is mostly due to the industry's widespread use of regenerating hydrogen sulfide scavengers for hydrogen sulfide removal.
Browse key industry insights spread across 220 pages with 126 market data tables and figures & charts from the report the “Global Hydrogen Sulfide Scavengers Market Size, Share, and COVID-19 Impact Analysis, By Type (Water-Soluble, Oil-Soluble, Metal-Based), By Process (Regenerative, Non-Regenerative), By End Use Industry (Water Treatment, Oil & Gas, Waste Management, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030" Get Detailed Report Description Here:
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The oil & gas segment is dominating the market with the largest market share of 65% over the forecast period.
Based on end use industry, the Global Hydrogen Sulfide Scavengers Market is segmented into water treatment, oil & gas, waste management, and many others. Among these, the oil & gas segment dominates the market with the largest market share of 65% over the forecast period. A hydrogen sulfide scavenger is infused into the hydrocarbon stream to lower the quantities of hydrogen sulfide in the hydrocarbon production fluids. It is also a low-cost solution, making it a feasible option as an additive in the oil and gas industry.
Asia Pacific is dominating the market with the largest market share of 56%.
Asia Pacific is likely to remain the industry's leading region over the projection period, with a 56% market share, because the bulk of refinery expansions are expected to take place in Asia Pacific in the future years, led by the economies of India and China. The rise in the region's gross domestic product (GDP) is driving up demand for petroleum, which is powering the region's oil refineries.
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Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Hydrogen Sulfide Scavengers Market include Solvay SA, Halliburton Co., KNG Capital, General Electric Co., ChemTreat, Inc., Merichem Co., Axalta Coating Systems, Schlumberger Ltd., BASF SE, Dorf-Ketal, Ecolab Inc., Chemical Products Industries Inc., The Dow Chemical Co., Nalco Water, Baker Hughes Co., Schlumberger Ltd., Hexion Inc., CARADAN CHEMICALS INTERNATIONAL, AkzoNobel N.V., Dorf Ketal Chemicals I Pvt. Ltd., Nalco Champion, Vink Chemicals GmbH and Co. KG, Arkema Group, Cestoil Chemical Inc., Altana AG, Innospec Inc., Newpoint Gas LLC, SUEZ, Paqell BV, and among others.
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