Press release
Hydrogen Sulphide Market Global Size Overview, Growth Drivers, Industry Share and Forecast to 2026
Hydrogen Sulphide Market
The COVID-19 pandemic has led to severe repercussion owing to its widespread effects across several economies. Several industries are facing unprecedented losses owing to the lockdown announced by several governments across the globe that has resulted in the complete shutdown of the businesses. The crippling economy, however, is being revived through collective efforts from the government as well as the industries and is expected to bounce back in the coming years.
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Hydrogen sulphide (H2S) is a type of gas that is majorly extracted during the production of crude oil, and undertaking drilling activities near oil and gas reserves. H2S is formed in the absence of oxygen during the microbial breakdown of the organic materials. The gas is toxic, corrosive, colorless, and highly inflammable while having a smell similar to the rotten eggs. The gas is commercially used across several industrial applications such as pharmaceutical, chemical, laboratories, and agriculture.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2019 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
DRIVING FACTORS
Increasing Demand for Superior Quality Pesticides to Augur Growth
A rapidly growing population and high disposable income are driving the demand for food to suffice the growing needs across the globe. However, every year crops destroyed due to pests, insects, and other factors, result in a huge monetary loss for the agriculture industry. According to the United States Department of Agriculture, around 40-50% crop yield is lost to pests and other diseases every year in developing regions. To limit the destruction of crops and produce a better quality yield, the farmers and the agro-based companies across the globe are adopting superior quality pesticides. Hydrogen sulphide is used to derive sulfur and sulfuric acid that are further adopted to manufacture pesticides. Increasing demand for pesticides from the agricultural regions is expected to drive the global hydrogen sulphide market in the forthcoming years.
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REGIONAL INSIGHTS
Asia-Pacific to Remain at the Forefront; High Demand for Fertilizers to Drive the Market
Among all regions, Asia-Pacific is expected to witness significant growth and hold the highest position in the global hydrogen sulphide market share during the forecast period. This is attributable to the increasing demand for fertilizers and pesticides from major agricultural countries such as India and China. On the other hand, the market in North America is expected to hold the second position in the market during the forecast period. This is ascribable to factors such as increasing adoption of technologically advanced methods to extract H2S and a growing oil & gas industry between 2019 and 2026.
COMPETITIVE LANDSCAPE
Teledyne Launching a New MultiTox Detector to Aid Growth
In July 2020, Teledyne Gas & Flame Detection, a leading industrial gas detection instruments supplier, announced its launch of a new MultiTox MOS detector for the petrochemical, oil & gas, and refining industries. According to the company, the new detector uses metal oxide semiconductor (MOS) technology that aids in detecting hydrogen sulphide, without any risk of poisoning, and has a sensor life of over 10 years. The company is further providing a 5 years standard warranty on the product. The launch of the product by the company is expected to strengthen its product portfolio in the highly competitive global hydrogen sulphide market during the forecast period.
List of the Companies Operating in the Market:
• Linde,
• Messer group,
• Matheson,
• Praxair,
• Dow Chemical,
• Chengdu Taiyu Industrial Gases Co., Ltd.
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