The global mercury removal adsorbents market is projected to surpass US$ 2,060.0 Mn by the end of 2030, in terms of revenue, growing at CAGR of 4.36% during the forecast period (2023-2030).
Drivers
Rising awareness regarding harmful impacts of mercury on the aquatic ecology
Mercury is one of the toxic wastes which enters the environment through different industries such as oil and gas refineries, chemicals, plastics, and cement. In addition, mercury is released into the environment after being used in fluorescent lights and mercury cells. The discharge of mining and industrial wastes results in the introduction of mercury into some water bodies, such as rivers, oceans, groundwater, lakes, ponds, and others. Mercury can be absorbed by the small oceanic species, which larger organisms can then consume. The bioaccumulation of mercury in aquatic organisms has harmful effects on aquatic ecology. Thus, there is soaring demand for mercury removal adsorbents across the globe.
Figure 1. Global Mercury Removal Adsorbents Market, Revenue Share (%), By Region, 2022
Among the regions, North America is accounted for the largest share of the global mercury removal adsorbents market in 2022. In North America, major countries such as Canada and U.S. are leading producers of natural gas. In addition, rapid economic development and the presence of well-developed chemical plants in these countries is expected to enhance industrial productivity. For instance, in December 2021, according to U.S. Energy Information Administration, the production of dry natural gas was 34.5 Tcf (trillion cubic feet) and 94.6 bn cubic feet per day. In addition, in 2021, the production of dry natural gas is 13% greater than its consumption. Moreover, in 2021, according to the Chemistry Industry Association of Canada, the sales of industrial chemicals raised by 31% more than in 2020. Mercury removal adsorbents are used for the prevention of downstream equipment damage in chemical plants. Thus, growing production and consumption of chemicals and natural gas is expected to bolster the global mercury removal adsorbents market growth.
Market Restraints
Emission of heat during the mercury removal adsorption process is hindering the market growth
However, mercury removal adsorption is an exothermic process that released heat into the environment. The emission of heat during the adsorption process has harmful effects on the environment and the human body. In addition, the high cost of mercury removal adsorbents is expected to hamper the market growth over the forecast period.
| Report Coverage | Details | ||
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| Base Year: | 2022 | Market Size in 2022: | US$ 1,464.3 Mn |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR: | 4.36% | 2030 Value Projection: | US$ 2,060.0 Mn |
| Geographies covered: |
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| Companies covered: |
Pall Corporation, Johnson Matthey, Axens, Honeywell UOP, BASF SE, NUCON International Inc., UNICAT Catalyst Technologies, LLC., Calgon Carbon Corporation, Cabot Corporation, SLB. |
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| Restraints & Challenges: |
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Market Trends
Growing awareness about the agro industrial waste adsorbents
Mercury is one of the toxic elements as it causes dangerous health effects on the digestive, nervous, and immune systems of organisms. In addition, it has harmful effects on the kidneys and lungs due to its properties such as high persistence, and bioaccumulation. The agro industrial waste such as date pits is used as adsorbents for the removal of mercury from wastewater. In addition, date pits are used to remove heavy metals such as Cd, As, Hg, and Pb from aquatic animals.
Figure 2. Global Mercury Removal Adsorbents Market, Revenue Share (%), by Type, in 2022
On the basis of type, the global mercury removal adsorbents market is segmented into activated carbon, loaded metal adsorbent, zeolites, activated alumina, and others. The most market share in 2021 will belong to activated carbon since it is an effective adsorbent for removing mercury from contaminated water systems. In addition, activated carbon is also known as activated charcoal. It has a granular and nonporous structure which is useful for the efficient adsorption of mercury. Moreover, activated carbon is made from coconut shells, coal, and wood.
On the basis of applications, the global mercury removal adsorbents market is classified into oil and gas, water treatment, and others. Among these, oil and gas is accounted for the largest share in 2022. The increasing demand for mercury removal adsorbents in oil and gas sector owing to the rising production of chemicals and natural gas is boosting the product demand across the globe. The growing awareness about the removal of mercury from natural gas due to corrosion difficulties, downstream catalyst poisoning, and corrosion difficulties is likely to propel the demand for mercury removal adsorbents.
Global Mercury Removal Adsorbents Market- Impact of Coronavirus (Covid-19) Pandemic
The outbreak of COVID-19 negatively impacted the global mercury removal adsorbents market due to the strict lockdown. Assembling or manufacturing organizations with mercury removal adsorbents were facing hardships at their working sites during the pandemic. Some factors such as interruption in the supply and demand chain and stringent regulations on the transportation of workers restrained the global market growth of mercury removal adsorbents during the pandemic.
Competitive Section
Pall Corporation, Johnson Matthey, Axens, Honeywell UOP, BASF SE, NUCON International Inc., UNICAT Catalyst Technologies, LLC., Calgon Carbon Corporation, Cabot Corporation, SLB.
Definition - Mercury removal adsorbents are used for the process of removing mercury from different hydrocarbons. In addition, these adsorbents are widely used for removing mercury in wastewater treatment and the distillation process of natural gas and crude oil.
Mercury is a toxic heavy metal that has harmful effects on the digestive systems, lungs, kidneys, nervous, and immune systems. In addition, inorganic salts of mercury including mercuric oxide (HgO), mercuric sulphide (HgS), and mercuric chloride (HgCl2) are corrosive to the eyes, skin, and gastrointestinal tract. Due to these factors, there is increasing demand for mercury removal adsorbents for different applications such as oil and gas treatment, wastewater treatment, and others. Mercury removal adsorbents are referred to as materials used to remove mercury from the environment. The different types of mercury removal adsorbents available are activated carbon, sodium carbonate, loaded metal adsorbents, and others.
Market Dynamics
Rising crude oil production is boosting the demand for mercury removal adsorbents
Mercury is one of the toxic chemical elements present in condensate, natural gas, and crude oil. Owing to the high toxicity of mercury, there is growing demand for mercury removal adsorbents in the oil and gas industry. In addition, mercury removal adsorbents are used to prevent the failure of cryogenic equipment during the distillation process of crude oil. Furthermore, the rising demand for fuel energy such as petroleum is projected to increase the production of crude oil. For instance, in February 2023, U.S. proven reserves for crude oil and lease condensate climbed from 38.2 billion barrels to 44.4 billion barrels in 2021, a 16% increase, according to the U.S. EIA (Energy Information Administration). Moreover, U.S EIA is an organization that deals with the collection and publication of impartial and independent energy information.
Rising demand for mercury removal adsorbents in different applications
The mercury removal adsorbents have abrasion resistance and thermal stability, thus being used in different applications such as gas refining, water treatment, petroleum refining, chemicals, and others. Thus, the growing demand for mercury removal adsorbents in various industries is projected to witness ample opportunities for the global mercury adsorbents market players. In addition, mercury removal adsorbents are widely used in wastewater treatment which adsorbs toxic substances. Moreover growing demand for the treatment of water owing to the contamination of natural water resources such as lakes, oceans, rivers, streams, and others are further creating significant opportunities for the global mercury removal adsorbents market players.
The high cost of mercury removal adsorbents is hindering the market growth
The high cost of mercury removals adsorbents such as loaded metal adsorbent, zeolites, activated carbon, and activated alumina, among others. Owing to the high cost of these adsorbents there is an increase in the adsorption process cost which further hinders the growth of the global mercury adsorbents market. Furthermore, during wastewater treatment, there is a requirement for high-stream equipment. Thus, high equipment requirements and the high cost of the adsorption process are expected to restrain the global mercury removal adsorbents growth.
Key features of the study:
Detailed Segmentation:
*” marked represents similar segmentation in other categories in the respective section.
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