Wilmington, Delaware, United States, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global sulfur, arsine, and mercury remover market in oil & gas industry was projected to attain US$ 1.5 billion in 2022. It is anticipated to garner a 5.6% CAGR from 2023 to 2031 and by 2032, the market is likely to attain US$ 2.4 billion by 2031.
Due to factors including population expansion, industrialization, and a growing reliance on energy-intensive technology, the world's energy consumption is still rising. The market for removers of sulfur, arsine, and mercury has possibilities as well as difficulties as a result of the growth of the oil and gas industry from both conventional and unconventional sources. Traditional oil and gas resources continue to play a vital role in the world's energy system.
Effective removal methods are becoming more and more necessary as businesses discover and utilize these conventional deposits. The oil and gas streams in different areas have different impurity compositions, necessitating the need for adaptable removal systems that can accommodate different impurity profiles.
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Key Findings of the Market Report
- The commercial domination of activated carbon can be attributed to its regenerative capacity and ability to adapt to various operating circumstances.
- The dependability and affordability of activated carbon-based removal systems are highly valued by oil and gas businesses, particularly in high-throughput applications where continuous pollutant removal is essential.
- The market for sulfur, arsine, and mercury removers in the oil and gas sector is expected to be dominated by natural gas applications.
- Significant quantities of sulfur, arsine, and mercury impurities are frequently found in natural gas extraction and processing facilities.
- These contaminants must be eliminated to comply with strict environmental requirements and guarantee the quality and safety of the final product.
- The increasing popularity of natural gas as a more environmentally friendly fuel is anticipated to drive up demand for effective pollutant removal technology in various applications.
Global Sulfur, Arsine, and Mercury Remover Market in Oil & Gas Industry: Key Players
In order to boost innovation and grow their business lines in local and global marketplaces, manufacturers are making large investments in thorough research and development initiatives as well as strategic alliances. The following companies are well-known participants in the global sulfur, arsine, and mercury remover market in oil & gas industry:
- Pall Corporation
- Dorf Ketal Chemicals
- Gaharceram Co.
- Clariant AG
- Axens
- BASF SE
- Johnson Matthey
- Hexion
- The Lubrizol Corporation
- Boyce Carbon
- JGS C&C
- Topsoe
- Shell plc
- Norit
- Others
Some key developments by the players in this market are:
- Schlumberger declared the opening of Schlumberger End-to-end Emissions Solutions (SEES) on March 8, 2022. In order to provide operators with a reliable and scalable solution for measuring, monitoring, reporting, and eventually removing methane and regular flare emissions from their operations, the company offers a full suite of services together with state-of-the-art technologies.
Market Trends for Sulfur, Arsine, and Mercury Remover Market in Oil & Gas Industry
- The increasing emphasis on lowering greenhouse gas emissions and switching to lower-carbon energy sources throughout the world has led to natural gas becoming an increasingly important part of the energy mix.
- It is critical for natural gas processing plants to have efficient contamination removal technologies in order to comply with environmental laws and the high standards of quality established by regulatory agencies and end users.
- The development of methods for extracting natural gas, such shale gas drilling and hydraulic fracturing, has resulted in a notable rise in the volume of natural gas produced, which has increased demand for contaminant removal products in this market.
- In the oil and gas sector, all of these variables are anticipated to present profitable market prospects for sulfur, arsine, and mercury removers.
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Global Market for Sulfur, Arsine, and Mercury Remover Market in Oil & Gas Industry: Regional Outlook
- North America is becoming a global leader in environmental issues, with a creative and dynamic approach.
- Strong legal structures, technical capability, and a dedication to environmental responsibility are all credited for its supremacy.
- By utilizing its scientific and engineering know-how, North America—and especially the United States—has been able to develop innovative solutions that successfully lessen the negative environmental effects of these pollutants.
- Maintaining a leading edge via constant innovation investment establishes North America as a center for the development of innovative contamination removal solutions.
Global Sulfur, Arsine, and Mercury Remover Market in Oil & Gas Industry Segmentation
By Material Type
- Activated Carbon
- Metal and Metal Oxide Adsorbents
- CuO-based Adsorbent
- Lead Oxide-based
- Nickel-based
- Alumina-based Adsorbents
- Sulfide and Metal Sulfide-based Adsorbent
- Molecular Sieves
- Others
By Application
- Natural Gas
- Synthetic Gas
- Refinery & Petrochemicals
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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