Hydrogen Sulfide Scavengers Market to Reach US$ 734.8 Mn by 2031: TMR Report

• Implementation of regulations on preventing health hazards of hydrogen sulfide (H2S) in hydrocarbon and chemical processing facilities spurring sales of products in hydrogen sulfide scavengers market; massive demand for regenerative hydrogen sulfide scavengers in multiple industries generates abundant opportunities
• Rise in oil refinery processes to open up new revenue streams, especially in Asia Pacific market

WILMINGTON, Del., Aug. 22, 2022 /PRNewswire/ -- The future of hydrogen sulfide scavengers market will depend on the commercialization of environmentally friendly products in the water treatment and oil & gas industries for the removal of hydrogen sulfide (H2S). Implementation of stringent regulations on preventing the human health and environmental hazards in these facilities will spur market demand for hydrogen sulfide scavengers. The size of the hydrogen sulfide scavengers market is projected to reach US$ 734.8 Mn by the end of 2031.

Recent trends in hydrogen sulfide scavengers market indicate that the revenue growth has been invigorated by massive utilization in hydrocarbon and chemical processing facilities. In oil and gas production, of note, the adoption has increased considerably due to corrosion impacts of H2S on the equipment. Key vendors in hydrogen sulfide scavengers market are expanding product portfolio to cater to the need for H2S scavenger in various operating conditions and product compositions.

New revenue streams in the hydrogen sulfide scavengers market will emanate from use of the products as a cost-effective alternative to conventional gas/liquid sweetening processes. Demand for hydrogen sulfide scavengers in multiple oilfield operations is creating profitable avenues for chemical companies in the market.

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Key Findings of Hydrogen Sulfide Scavengers Market Study

• Massive Demand From Oil & Gas Industry Underpins Enormous Revenue Potential: Rise in use of H2S scavengers in various processes in oil & gas industry has generated substantial revenue streams. Of note, the products have been massively utilized in hydrocarbon processing, oil refining, and oilfield operations.
• Rise in Use of Regenerative Hydrogen Sulfide Scavengers to Steer Revenue Growth: Regenerative H2S scavengers are widely preferred in various end-use industries. Indeed, the segment led the global hydrogen sulfide scavengers market, as it accounted for more than 58.8% share in 2021. Rise in use of diethanolamine, methyl diethanolamine (MDEA), and monoethanolamine (MEA) will propel the growth of the segment.

Hydrogen Sulfide Scavengers Market: Key Drivers

• Growing number of new oil discoveries notably in the Middle East and Africa and rise in hydrocarbon processing industry in various countries are driving the demand for hydrogen sulfide scavengers. In chemical processing facilities, their use is proliferating on the back of need to meet product and process specifications.
• Rise in crude oil production and their subsequent refining has spurred the adoption of hydrogen sulfide scavengers, and is also a key driver of the market. These are widely utilized in removal of hydrogen sulfide in order to meet regulations related to environmental and health hazards of the gas.

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Hydrogen Sulfide Scavengers Market: Regional Growth Dynamics

• Globally, OPEC member states have become hotspots for oil refining processes. This will offer a robust tailwind to the Asia Pacific hydrogen sulfide scavengers market. Rise in demand for oil in developing economies due to rise in economic growth in those countries is a major macroeconomic factor propelling revenue generation. Rapid expansion of oil refineries spurred the growth prospects and helped the region hold over 60% market share in 2021.
• North America and Europe are prominent regions in the global hydrogen sulfide scavengers market. Rise in demand for products in hydrocarbon processing and chemical processing in various end-use industries will steer revenue growth during the forecast period of 2022-2031.

Hydrogen Sulfide Scavengers Market: Key Players

The hydrogen sulfide scavengers market is characterized by a consolidated competition landscape attributed to relatively few players accounting for the majority stake. Players are increasingly leaning on R&D for expanding product portfolio and developing environment-friendly products.

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Hydrogen Sulfide Scavengers Market Segmentation

• Process
• Regenerative
• Monoethanolamine (MEA)
• Diethanolamine (DEA)
• N-methyldiethanolamine (MDEA)
• Diisopropylamine
• Diglycolamine (DGA)
• Non-regenerative
• Triazine
• Solid Scavengers
• Oxidizing Chemicals
• Aldehydes
• Metal Carboxylates
• Chelates
• Type
• Water-soluble
• Oil-soluble
• Metal-based
• Application
• Onshore
• Offshore

 Regions

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Countries

• U.S.
• Canada
• Germany
• U.K.
• France
• Spain
• Italy
• Russia and CIS
• Japan
• China
• India
• ASEAN
• Brazil
• Mexico
• GCC
• South Africa

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