According to Technavio's analyst, the hydrogen sulfide scavenger market size is expected to be valued at USD 231.02 billion by 2026 at a CAGR of 2.98%.

This market research report extensively covers hydrogen sulfide scavenger market segmentations by the following:

• End-user - Oil and gas, water and wastewater treatment, and others
• Geography - North America, APAC, Europe, Middle East and Africa, and South America

This hydrogen sulfide scavenger market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The hydrogen sulfide scavenger market report offers information on several market vendors, including Altana AG, Arkema Group, Baker Hughes Co., BASF SE, Cestoil Chemical Inc., Chemical Products Industries Inc., Dorf Ketal Chemicals I Pvt. Ltd., Ecolab Inc., General Electric Co., Halliburton Co., Hexion Inc., Innospec Inc., KNG Capital, Merichem Co., Newpoint Gas LLC, Schlumberger Ltd., Sofina SA, Solvay SA, The Dow Chemical Co., and Vink Chemicals GmbH and Co. KG among others.

What will the Hydrogen Sulfide Scavenger Market Size be During the Forecast Period?

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Hydrogen Sulfide Scavenger Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The rise in global oil and gas refinery capacity is notably driving the hydrogen sulfide scavenger market growth, although factors such as the COVID impact may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hydrogen sulfide scavenger industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Hydrogen Sulfide (H2S) Scavenger Market Driver

• The rise in global oil and gas refinery capacity is one of the key drivers supporting the hydrogen sulfide scavenger market growth.
• Hydrogen sulfide is a byproduct of crude oil, which is formed in the refining process by the degradation of sulfur-containing compounds in crude at high temperatures.
• Many refineries try to remove hydrogen sulfide from cracked streams used in blending fuels. Moreover, hydrogen sulfide scavenger removes hydrogen sulfide and some mercaptan from hydrocarbon streams.
• The rising oil and gas demand has led to a simultaneous increase in global refinery capacity due to the addition of new refineries or the expansion of existing refinery complexes
• Several major refinery expansions are under either the planning or construction stage and are expected to be completed during the forecast period. These expansions will drive the hydrogen sulfide scavenger market growth during the forecast period.

Key Hydrogen Sulfide (H2S) Scavenger Market Trend

• An increase in the adoption of IoT in industrial emission control systems is one of the key hydrogen sulfide (H2S) scavenger market trends fueling the market growth.
• Advances in sensors, IoT platforms, and mobile communications technologies have resulted in the development of small, portable, cost-effective, and mobile-enabled sensors.
• Big Data capabilities, such as analytics and machine learning, can be applied to related data sets such as weather and traffic to gauge causes and fluctuations in air pollution.
• the formulation and implementation of various health and safety regulations across the world against hydrogen sulfide are increasing the adoption of gas sensors and air quality monitors for critical industries, such as oil and gas, mining, and paper and pulp industries.
• For instance, Spec Sensors offers hydrogen sulfide sensors, such as Digital Gas Sensor Module for H2S and Ultra-Low Power Analog Sensor Module for H2S. Such technologically advanced solutions are controlling hydrogen sulfide emissions. This is likely to boost the growth of the global hydrogen sulfide scavenger market during the forecast period. 

Key Hydrogen Sulfide (H2S) Scavenger Market Challenge

• The COVID impact is one of the factors challenging the hydrogen sulfide scavenger market growth.
• The outbreak of the COVID-19 pandemic has severely affected the global economy. The economic fallout of the pandemic is expected to be enormous in terms of the loss in production, income, and employment.
• IMF estimates that global economic growth in 2020 is likely to fall to -3%. This might have a negative impact on the global economy and thus affect various sectors, such as the global hydrogen sulfide scavenger market.
• One of the major segments of the global economy impacted due to COVID-19 is the oil and gas industry.
• The global oil and gas industry entered a new period of uncertainty after the global price of crude oil price plunged to $23.36 per barrel on March 23, 2020. Such an increasing price of crude oil will limit the hydrogen sulfide scavenger market growth during the forecast period.

This hydrogen sulfide scavenger market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global hydrogen sulfide scavenger market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hydrogen sulfide scavenger market during the forecast period.

Who are the Major Hydrogen Sulfide Scavenger Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Altana AG
• Arkema Group
• Baker Hughes Co.
• BASF SE
• Cestoil Chemical Inc.
• Chemical Products Industries Inc.
• Dorf Ketal Chemicals I Pvt. Ltd.
• Ecolab Inc.
• General Electric Co.
• Halliburton Co.
• Hexion Inc.
• Innospec Inc.
• KNG Capital
• Merichem Co.
• Newpoint Gas LLC
• Schlumberger Ltd.
• Sofina SA
• Solvay SA
• The Dow Chemical Co.
• Vink Chemicals GmbH and Co. KG

This statistical study of the hydrogen sulfide scavenger market encompasses successful business strategies deployed by the key vendors. The hydrogen sulfide scavenger market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Arkema Group - The company offers hydrogen sulfide scavenger under the brand name Norust, to remove H2S present in oil, gas, and water to comply with the most stringent HSE requirements. 
• BASF SE - The company offers hydrogen sulfide scavenger under the brand name Basolon, that can react selectively with H2S in the presence of CO2 to help eliminate the hazards. 
• Dorf Ketal Chemicals I Pvt. Ltd. - The company offers hydrogen sulfide scavenger under the brand name MAXSCAV, which reacts with one or more sulfide species to convert them to a more inert form. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The hydrogen sulfide scavenger market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Hydrogen Sulfide Scavenger Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the hydrogen sulfide scavenger market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Hydrogen Sulfide Scavenger Market?

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35% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the hydrogen sulfide scavenger market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The capacity expansions in the food and beverage, oil and gas, and petrochemical industries will facilitate the hydrogen sulfide scavenger market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 severely disrupted the regional economy and adversely impacted the H2S scavenger market in the region. However, the vaccination drives adopted by governments across the region helped to contain the spread of the disease. Major industries such as oil and gas and metal mining recovered in the first half of 2021, which is expected to propel the growth of the H2S scavenger market in the region during the forecast period.

What are the Revenue-generating End-user Segments in the Hydrogen Sulfide Scavenger Market?

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The hydrogen sulfide scavenger market share growth by the oil and gas segment will be significant during the forecast period. Hydrogen sulfide gas is released in the oil and gas industry during drilling, completion, and servicing operations. Hydrogen sulfide scavenger is injected into the hydrocarbon stream to minimize the concentration of hydrogen sulfide in hydrocarbon production fluids. The H2S scavenger decreases the level of hydrogen sulfide gas in crude oil. Also, it is a cost-effective solution which makes it a sustainable choice as an additive in the oil and gas industry. These factors will encourage the use of H2S scavenger in the oil and gas industry and thereby driving the market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the hydrogen sulfide scavenger market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Hydrogen Sulfide Scavenger Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive hydrogen sulfide scavenger market growth during the next five years
• Precise estimation of the hydrogen sulfide scavenger market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the hydrogen sulfide scavenger industry across North America, APAC, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of hydrogen sulfide scavenger market vendors

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