HYDROGEN SULFIDE SCAVENGERS MARKET TO REACH A VALUE OF ~US$ 655 MN BY 2027: TRANSPARENCY MARKET RESEARCHHYDROGEN SULFIDE SCAVENGERS MARKET TO REACH A VALUE OF ~US$ 655 MN BY 2027: TRANSPARENCY MARKET RESEARCH
The global hydrogen sulfide scavengers market was valued at ~US$ 440 Mn in 2018, and is anticipated to expand at a CAGR of ~5% from 2019 to 2027. Increase in crude oil production enhances oilfield operations such as drilling, cementing, production, workover and completion, and well stimulation. This drives the demand for production chemicals such as hydrogen sulfide scavengers.
The demand for crude oil is increasing year-on-year, and is estimated to reach 100 million barrels per day (including biofuels) by the end of 2019. Crude oil prices are increasing. OPEC members have reduced their production output in order to stabilize prices. Thus, price stability is expected to enhance oilfield operations, and thereby, drive the hydrogen sulfide scavengers market during the forecast period.
Request A Sample of Hydrogen Sulfide Scavengers Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=50223
Key Drivers of the Hydrogen Sulfide Scavengers Market
Hydrogen sulfide (H2S) is a naturally-occurring gas contained in crude oils. It is also formed in the refining process due to the degradation of sulfur-containing compounds in crude oil at high temperatures. Increasing global demand for crude oil and rising concentration of hydrogen sulfide in oil & gas products formed in the processing of hydrocarbons are raising concerns related to safety, environment protection, and operations.
A general approach for removing hydrogen sulfide or reducing the amount of hydrogen sulfide is to subject hydrogen sulfide to a treatment containing an agent that chemically reacts with hydrogen sulfide. This agent is called a hydrogen sulfide scavenger.
Hydrogen Sulfide Scavengers Market: Newly-discovered and Potential Oil & Gas Reserves to Offer Attractive Opportunities
New discoveries of crude oil and natural gas reserves create opportunities for companies that are operating in the hydrogen sulfide scavengers market. The number of new oil & gas discoveries has increased in countries of Africa over the last few years. Large untapped reserves in Africa are garnering the interest of some of the largest exploration and production companies in the world. This has resulted in new oil & gas discoveries in the sub-region. Thus, newly-discovered and potential oil & gas reserves are estimated to offer lucrative opportunities to the global hydrogen sulfide scavengers market.
Environment- and Health-related Concerns Regarding Use of Non-regenerative Hydrogen Sulfide Scavengers
Reacted triazine byproducts are readily biodegradable and relatively non-toxic. Unreacted, excess triazine has very high aquatic toxicity, and a tendency to form carbonate scales with produced water or seawater. This can result in emulsion stabilization and increase in overboard oil-in-water (OIW) content. Unreacted triazine is also an issue for refineries, as it impacts the desalting process, and it can cause accelerated corrosion in crude oil distillation units, foaming in glycol and amine units, and discoloration of glycol units.
Asia Pacific Prominent Hydrogen Sulfide Scavengers Market
Asia Pacific is expected to be a highly attractive region of the global hydrogen sulfide scavengers market during the forecast period. According to OPEC, almost 50% of refinery additions are expected to occur in Asia Pacific, led by China and India, in the near future. Rapid economic growth in developing countries, particularly in Asia Pacific, has driven oil demand in the region.
Increasing GDP is augmenting the demand for oil, which has driven the oil refinery business in the region in the last few years. Increase in the number of oil refineries in the region is resulting in the emission of hydrogen sulfide. This is propelling the production of hydrogen sulfide scavengers in the region.
Regenerative Process Held a Major Share of Global Hydrogen Sulfide Scavengers Market
Regenerative is likely to be a highly attractive segment, in terms of share and growth rate, during the forecast period, as regenerative hydrogen sulfide scavengers are widely used in industries for the removal of hydrogen sulfide. For example, monoethanolamine (MEA), diethanolamine (DEA), and methyl diethanolamine (MDEA) are the commonly used forms of regenerative hydrogen sulfide scavengers in gas sweetening.
Hydrogen Sulfide Scavengers Market: Top Five Players Accounted for Major Share in 2018
Schlumberger Limited, Halliburton, Baker Hughes, Nalco Champion, Hexion, Arkema S.A. Lonza, and SUEZ are some of the top players operating in the global hydrogen sulfide scavengers market. The worldwide reach of these companies and their focus on a wide range of end-user industries are responsible for the significant market share held by these companies. They are investing in the development of new products that are eco-friendly and recyclable.
On July 3, 2018, Baker Hughes merged with GE’s oil & gas business segment, forming the world’s first full-stream oil & gas company. The new company is the first to bring together market-leading equipment, services, and digital solutions across the entire spectrum of oil & gas development.
In April 2018, Schlumberger Limited signed a joint venture agreement with YPF S.A. to open a shale oil pilot in Bandurria Sur, Loma Campana, Argentina, with an investment of US$ 390 Mn. The joint venture aims to re-affirm YPF’s leading position in the field of developing unconventional resources, and its commitment toward achieving energy self-sufficiency.
Global Hydrogen Sulfide Scavengers Market: Research Scope
Hydrogen Sulfide Scavengers Market by Process
Metal Carboxylates & Chelates
Hydrogen Sulfide Scavengers Market by Type
Hydrogen Sulfide Scavengers Market by Application
Hydrogen Sulfide Scavengers Market by Region
Russia & CIS
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Office No. 501-A, 5th Floor,
VANTAGE 9, S.No. 36/1/1,
Baner, Pune 411045
We are the ‘difference’ between success and failure in business. It can’t get simpler than this in explaining what we are. A market research company, our reports and expertise into and outside your business circles is the guideline to success. And this is not what we claim, but this is what our clients tell about us and our reports. We are leaders in providing cutting-edge market intelligence reports that are brought out of more than 5 million hours of expertize in market intelligence at the global, national, and local levels. Not just that, our niche lies in delivering tailored business intelligence that is exclusive for the specific client.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release HYDROGEN SULFIDE SCAVENGERS MARKET TO REACH A VALUE OF ~US$ 655 MN BY 2027: TRANSPARENCY MARKET RESEARCHHYDROGEN SULFIDE SCAVENGERS MARKET TO REACH A VALUE OF ~US$ 655 MN BY 2027: TRANSPARENCY MARKET RESEARCH here
News-ID: 2105505 • Views: 397
More Releases from Transparency Market Research Reports
High Purity Quartz Market - Global Industry Report, 2030
High Purity Quartz Market: Introduction Albany, NY - The global high purity quartz market was valued at ~US$ 800 Mn in 2019 and is anticipated to expand at a CAGR of ~6% during the forecast period. The global high purity quartz market is driven by increase in demand for high purity quartz in the global semiconductor industry. Asia Pacific accounts for a major share of the global high purity quartz market,
Smart Remote Control Market: Analysts Expect Robust Growth in 2028
The rise in the use of technology across the globe has hit the shore of remote controls too. On the back of technological advancements, the smart remote control market may gain considerable momentum across the forecast period of 2019 -2028. The shift in consumer preference from cost-effectiveness to convenience is serving as a prominent growth factor for the smart remote control market. Based on technology type, the smart remote control
METAL-ORGANIC FRAMEWORK MARKET TO REACH A VALUATION OF ~US$ 24 MN BY 2027: TRANS …
Metal-organic Framework Market: Introduction In terms of value, the global metal-organic framework market is anticipated to expand at a CAGR of ~11% from 2019 to 2027 Metal-organic framework is a class of porous materials constructed from metal-rich inorganic nodes bonded with organic linkers. The structure provides high density of three-dimensional porous cores with a large surface area, uniform cross-linkages, and tunable porosity. Metal-organic framework possesses excellent absorption rate for hydrogen, water, carbon
PE BLOW MOLDED PRODUCTS MARKET TO REACH A VALUATION OF ~US$ 8 BN BY 2027: TRANSP …
PE Blow Molded Products Market: Introduction In terms of value, the PE blow molded products market is anticipated to expand at a CAGR of ~5% from 2019 to 2027 PE blow molded products are generally containers, drums, or other rigid packaging materials manufactured through the blow molding process of polyethylene polymers such as HDPE, LDPE, and LLDPE The HDPE material segment accounted for a major share of the PE blow molded products market
More Releases for Hydrogen
Hydrogen as a fuel
An open road ahead for the fuel cell: The first high-precision mass flow meter for hydrogen filling stations certified to international standard OIML R 139 2018 On the road to climate-friendlier mobility, hydrogen is gaining importance as an energy source for fuel cells. However, fueling of hydrogen is more complex than fueling of gasoline and diesel. Unlike other gases, hydrogen heats up as it expands, causing pressure and temperature changes during
Global Hydrogen Electrolyzer Market to 2025| Nel Hydrogen, McPhy, Hydrogenics, T …
Researchmoz added Most up-to-date research on "Global Hydrogen Electrolyzer Market Insights, Forecast to 2025" to its huge collection of research reports. Hydrogen, used across various industrial applications such as chemicals, electronics, glass, etc., is produced both as a principal product and a by-product. More than 90% of total hydrogen demand across the globe depends upon fossil fuel based resources. Only a small fraction of this demand is met by hydrogen produced
Global Hydrogen Market: Competitive Assessment
Understanding several aspects of the global hydrogen market, Persistence Market Research has presented a well-structured analysis various trends, opportunities, challenges, restraints and growth drivers influencing the global market in its latest insightful research publication titled “Hydrogen Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025).” Several aspects of the market are assessed across important regions of North America, Latin America, Europe, Asia Pacific and Middle East and Africa. The exhaustive research
Hydrogen Analyzer Global Market Research Report 2018
GET SAMPLE REPORT @ https://www.research2reports.com/sample-report-instrument/hydrogen-analyzer-market/79671 Hydrogen Analyzer Report by Material, Application, and Geography � Global Forecast to 2022 is a professional and in-depth research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, united Kingdom, Japan, South Korea and China). The report firstly introduced the Hydrogen Analyzer basics: definitions, classifications, applications and market overview; product specifications;
Hydrogen Generator Market
Transparency Market Research has released a new market report titled Hydrogen Generator Market – Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2016 – 2024. According to this report, the global hydrogen generator market revenue for stood at US$ 792.44 Mn in 2015 and is expected to reach US$ 1,255.76 Mn by 2024 at a CAGR of 5.25% from 2016 to 2024. Browse the full Hydrogen Generator Market By Product
Hydrogen Market to Remain Lucrative by 2021
Growing secondary end-user industries and increasing use of hydrogen in refinery hydro-processing are some of the major factors fuelling the growth of the hydrogen market for hydrogen fuel cell vehicles. Since the hydrogen is used in petroleum refining processes, the industry is impacted by unstable growth of the latter. However, increasing demand for clean transportation (the reason for unstable growth of petroleum refining industries) is supporting growth of the hydrogen