Hydrogen Sulfide Scavengers Market: Data-driven Software Technology Empowers Oil & Gas Stakeholders
TMR has carried out a study on the hydrogen sulfide scavengers market for the period of 2019 to 2027 to help stakeholders in this landscape make informed decisions. The global hydrogen sulfide scavengers market is poised to grow at a moderate-to-high CAGR of ~5% during the forecast period.
The high cost of separating hydrogen sulfide from crude oil and other petrochemicals is creating the need for efficient and cost-effective techniques in the hydrogen sulfide scavengers market to avert this challenge. Such needs are giving rise to extensive research and development studies to assist operators in gauging as to what extent their oilfields will sour with the help of insight-driven data. Stakeholders are investing in software modeling programs that use operational, planning, and survey data acquired from all the oil production units to estimate the intensity of temperature and pressure conditions, and forecast hydrogen sulfide generation, taking into account the lifetime of a reservoir.
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Innovative software can predict a reservoir’s susceptibility to sourness in advance of the well completion, which serves as one of the most valuable information to reservoir operators, engineers, and technicians. For instance, in August 2018, Rawwater Engineering Company Ltd., a specialist in oilfield reservoir souring and simulation forecasting, announced the launch of its new office in Houston, Texas, which will facilitate its stakeholders with breakthrough technologies that cater to the oil & gas industry. The company is running key research experiments with the help of DynamicTVS (Dynamic Thermal Viability Shell), an innovative predictive sourcing model, which analyzes operational and reservoir sourcing data that empowers its clients to make informed and cost-efficient decisions with context to suitable material selection, production, and counter-chemical treatment, depending upon the level of hydrogen sulfide sourness in a reservoir.
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Regenerative Hydrogen Sulfide Scavengers Likely to Increase Market Scope in Future
The process of hydrogen sulfide separation from crude oil has evolved from examining the aftermath of pressure and temperature upon oilfield microbiology to sourcing data related to numerous aspects such as injection temperature as per the level of sourness, cool down of an oil reservoir due to water flooding, and the scope of growth for sulfate-reducing microorganisms (SRM) with the help of data-intensive software systems. These software transformations are also influencing various practices at ground level, where companies are providing training, consultancy, and workshop programs for their clients and customers, to make them knowledgeable about the field of sourcing data from software systems, water chemistry, and measures to control the souring of crude oil.
The hydrogen sulfide scavengers market is currently valued at ~US$ 440 million, and is estimated to reach ~ US$ 655 million by the end of 2027. The market is more likely to grow for regenerative hydrogen sulfide scavengers (H2S scavengers) as compared to non-regenerative hydrogen sulfide scavengers, since the installation of regenerative H2S scavengers systems serve as an economic solution for the removal of H2S from sour gas & oil for onshore and offshore stakeholders. For example, in April 2019, Troy Corporation, a manufacturer of high-performance materials for various industries, announced the launch of Oilmate, a specialty hydrogen sulfide scavenger product that facilitates H2S extraction from oil & gas processes. This specialty product also helps minimize H2S emissions, and offers health, safety, environmental and anti-corrosion advantages to energy producers.
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Strategic Partnerships to Show Positive Results for Industrial Innovations
The trend in the hydrogen sulfide scavengers market is significantly inclining towards reducing the total cost of operations, eliminating solid deposition, and mitigating downstream corrosion hassles. These changing trends have been made possible to a great extent as non-triazine scavengers provide effective H2S removal without any obstructive side effects that occur with the use of triazine-based formulations. For instance, in September 2018, Baker Hughes – a GE company (General Electric Company) and world leader in the oil & gas industry, announced the launch of PETROSWEET HSW799, a non-triazine H2S scavenger, which is used in gas sweetening towers formulated for direct injection into gas flow lines, sour oil management in transportation lines, and rail cars as well as oil & gas transport systems.
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Another development trend seen in the hydrogen sulfide scavengers market is the demand for efficient process treatment chemicals, customized engineering solutions, and the need to maximize the production of sweetened oil due to the rising demand from existing stakeholders of crude oil reserves. Such changing dynamics of the market are giving rise to multi-faceted collaborations between companies that are making developments to provide their clients and customers with quality technical solutions and new alternatives for procedure optimization. Likewise, in July 2018 Halliburton – a leading provider of products and services to energy industries, announced the acquisition of Athlon Solutions – a provider of industrial water and process treatment solutions to energy industries, to leverage the manufacturing capacity of chemicals relating to energy industries.
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