-Remarkable growth in oil and gas discoveries is expected to fuel sales opportunities in hydrogen sulfide scavengers market. Thus, market is expected to be valued at ~ US$ 655 Mn during 2019–2027
-The Asia Pacific market is likely to expand at promising pace in the forthcoming years.
ALBANY, N.Y., July 6, 2021 /PRNewswire/ -- Hydrogen sulfide refers to a naturally occurring gas from crude oils. Apart from this, the formation of this gas also occurs during the refining process because of degradation of the sulfur-containing compounds in crude oil at higher temperatures. For the removal of hydrogen sulfide or reducing the amount of hydrogen sulfide, the gas has to be passed through a treatment that contains hydrogen sulfide scavenger, which is an agent that reacts chemically with hydrogen sulfide.
According to analysts at Transparency Market Research, the global hydrogen sulfide scavengers market will expand at a decent CAGR of ~5% throughout assessment period 2019–2027. In 2018, the total valuation of the market was ~US$ 440 Mn.
Analysts highlight that the hydrogen sulfide scavengers market is likely to gather lucrative avenues in the Asia Pacific region. In addition to this, the market is projected to gain high product production opportunities in North America and Europe.
Hydrogen Sulfide Scavengers Market: Key Findings
Growth in Oilfield Operations Fuels Demand for Hydrogen Sulfide Scavengers
Owing to the consistent growth in demand for oil, there is remarkable growth in the crude oil production activities across the globe. As a result, a growth in various oilfield operations including cementing, drilling, workover and completion, well stimulation, and production is observed. This scenario is fueling the demand for different production chemicals including hydrogen sulfide scavengers. On the back of this factor, the global hydrogen sulfide scavengers market is expected to gather quintessential sales opportunities in the upcoming years.
Enterprises Focus on Untapped Oil and Gas Discoveries
Over the period of recent few years, there in notable increase in the number of new oil and gas discoveries across different African countries. As a result, several well-entrenched enterprises engaged in the exploration and production activities are focused on exploring these untapped reserves from Africa. Thus, increase in number of newly discovered crude oil and natural gas reserves in African countries is likely to help in generating promising sales opportunities for the enterprises operating in the hydrogen sulfide scavengers market in the forthcoming years.
Major players operating in the hydrogen sulfide scavengers market are increasing concentration toward decreasing total cost operations, removing solid deposition, and lessening downstream corrosion issues. One of the key factors making these trends possible is the ability of non-triazine scavengers to offer efficient H2S elimination with no disruptive side effects, which are generally found using triazine-based formulations.
The companies engaged in the hydrogen sulfide scavengers market are growing participation in various strategic moves such as mergers, acquisitions, partnerships and collaborations. These strategies are helping enterprises in boosting their production capabilities. Apart from this, the players are seen investing in the research and development activities. The main motive of these researches is to offer the end-users high-quality technological solutions. All these factors are projected to bring outstanding growth avenues in the market.
Hydrogen sulfide is a pungent and highly toxic gas that is responsible for causing various issues pertaining to downstream and upstream processes. A non-regenerative solution is required during the process of removing hydrogen sulfide gas from oil and gas streams. Triazines, specifically 1,3,5-tri-(2-hydroxyethyl)-hexahydro-s-triazine, is one of the most frequently utilized scavengers. However, using triazine-based scavengers can result in to fouling throughout various activities such as the processing and transportation of oil and gas. If the non-regenerative hydrogen sulfide scavengers are not disposed properly, this can result into adverse effect on the human health as well as environmental safety.
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