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Hydrogen Sulfide Scavengers Market: By Type, By Product, By End User and Geography
Hydrogen Sulfide Scavengers Market: By Type, By Product, By End User and Geography
Hydrogen Sulfide Scavengers Market size was valued at US$ 519.2 million in 2023 and is poised to grow at a significant CAGR of 5.2% from 2024-2030. It is a colorless gas, with an offensive odor and a sweetish taste. It is soluble in water, alcohol, oils, and many other solvents. It has a specific gravity of 1.1895 concerning air. It is considered a weak acid, it is toxic to humans and corrosive to metals. During oil and gas operations, hydrogen sulfide can be found as a component of formation gases, dissolved in water, hydrocarbons, or even liquid sulfur. The hydrogen sulfide content of fluids in the permeable formations of oil wells has an important impact on the economic value of the produced hydrocarbons and production operations. Hence, the use of hydrogen sulfide scavengers is particularly high in the oil & gas industry, in upstream and downstream applications is fueling the market growth.
Human health effects of exposure to hydrogen sulfide, an irritant and an asphyxiant, depend on the concentration of the gas and the length of exposure. A maximum of eight hours of exposure to concentrations greater than 100 ppm hydrogen sulfide scavengers will cause hemorrhage and death.13 Concentrations above 600 ppm can be fatal in three to five minutes. Highly stressed, high-strength steel can fail in a matter of minutes in the presence of 50 ppm hydrogen sulfide scavengers. At high pressure, as little as 0.1 ppm hydrogen sulfide scavengers can greatly reduce the time to failure of highly stressed, high-strength steel. Hence, health and safety concerns are restricting the market growth. The global market is surging owing to frequent acquisitions and launchings by the market players. The global market expanding at significant CAGR over 2019 to 2025 owing to rising demand for hydrogen sulfide scavengers from oil & gas industry Based on product, metal-based scavengers segment accounted for larger market revenue share in 2018 and is projected to gain market revenue share over forecast period. Players focusing on innovation of newer products and collaboration strategies to retain market position in the global market.
Study Period
2024-2030Base Year
2023CAGR
5.2%Largest Market
North AmericaFastest Growing Market
Asia-Pacific
Some of the key factors influencing the market growth include rising demand for hydrogen sulfide scavengers from oil & gas industry, high growth in emerging economies and increasing demand from various end user industries. However, environmental & operational concerns associated with hydrocarbon management and health & safety concerns are hampering the market growth.
North America accounted for larger revenue share in global hydrogen sulfide scavengers market with considerable CAGR.
Asia Pacific held considerable market share during estimated period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 519.2 million |
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Market CAGR |
5.2% |
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By Type |
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By Product |
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By End User |
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By Region |
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The hydrogen sulfide scavengers market size was valued at US$ 519.2 million in 2023 and is projected to grow at a CAGR of 5.2% from 2024 to 2030.
The market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The market key players Hexion, SUEZ, Schlumberger Limited, NuGenTec, Arkema Group, Dorf-Ketal, Halliburton, Paqell BV, ChemTreat
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.