North America Oil Pollution Remediation Materials Market
No. of Pages: 122 | Report Code: BMIRE00030619 | Category: Chemicals and Materials
No. of Pages: 122 | Report Code: BMIRE00030619 | Category: Chemicals and Materials
The North America oil pollution remediation materials market was valued at US$ 864.22 million in 2022 and is expected to reach US$ 1,063.46 million by 2030; it is estimated to register a CAGR of 2.6% from 2022 to 2030.Rising Offshore Oil Exploration and Transportation Activities Fuels North America Oil Pollution Remediation Materials Market
Increased offshore exploration and drilling activities, transportation of oil via pipelines or tankers, and human errors during oil extraction and storage propel the chances of oil spill incidences. As per the Energy Information Administration data, the US oil demand climbed to a four-year high in 2023, and it is anticipated to remain there through 2024. The amount of fuel consumed last year was 20.23 million barrels per day, the most since 2019. According to a report released by the US Energy Information Administration on January 2024, crude oil production has increased since the COVID-19 pandemic as of January 9, 2024, reversing a two-year decline. The US crude oil production rose from 11.27 million barrels/day in 2021 to 13.21 million barrels/day in 2023 and is forecasted to reach 13.44 million barrels/day by 2024.
According to the Canada Energy Regulator, most of the crude oil produced in Canada is shipped using pipelines from western provinces to refineries in the US, Ontario, and Quebec. Inefficient safety measures and aging infrastructure contribute to the occurrence of oil spills or pollution during exploration activities and crude oil production, thereby posing a significant environmental threat and prompting an effective response effort. There is growing emphasis on the development and adoption of effective oil pollution remediation materials and technologies to mitigate the adverse impacts of oil spills. The increased need for remediation solutions due to rising offshore oil exploration and transportation activities fuels the demand for oil pollution remediation materials.North America Oil Pollution Remediation Materials Market Overview
The utilization of sorbents, dispersants, mechanical remediation, and bioremediation are the prominent approaches adopted by North American countries to control water pollution due to oil spillage. Environmental regulations and growing focus on sustainability encourage government bodies to adopt advanced technologies and materials to tackle oil spill incidents. An increasing number of oil spills and oil pollution incidences in the region drive the emphasis on environmental protection and oil spill responses. North America marks the presence of many environmental authorities and response agencies. These include the Marine Spill Response Corporation, National Environmental Emergencies Center, Canadian Transport Emergency Centre, the US Environmental Protection Agency, the US Coast Guard National Response Center, the US Coast Guard, the US National Response Team, and National Oceanic & Atmospheric Administration.
As per a report by the National Academies of Sciences, Engineering, and Medicine, oil pollution in North American ocean waters is caused by land-based oil runoff along with oil spills, natural oil seeps, and oil and gas site discharge. According to the Pipeline and Hazardous Materials Safety Administration, North America has ?2.6 million miles of pipelines that deliver huge volumes of liquid petroleum products (hundreds of billions of tons) and natural gas (trillions of cubic feet) yearly. Per the Canada Energy Regulator, most of the crude oil produced in Canada is shipped using pipelines from western provinces to refineries in the US, Ontario, and Quebec. The increasing crude oil production operations, rising exploration activities, and large-scale marine transportation activities are further expected to drive the demand for oil pollution remediation materials in North American countries over the coming years.
North America Oil Pollution Remediation Materials Market Revenue and Forecast to 2030 (US$ Million)
Strategic insights for the North America Oil Pollution Remediation Materials provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the North America Oil Pollution Remediation Materials refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Get more information on this report North America Oil Pollution Remediation Materials Strategic Insights
Get more information on this report North America Oil Pollution Remediation Materials Report Scope
Report Attribute
Details
Market size in 2022
US$ 864.22 Million
Market Size by 2030
US$ 1,063.46 Million
Global CAGR (2022 - 2030)
2.6%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Type
Regions and Countries Covered
North America
Market leaders and key company profiles
Get more information on this report North America Oil Pollution Remediation Materials Regional Insights
Get more information on this report North America Oil Pollution Remediation Materials Market Segmentation
The North America oil pollution remediation materials market is categorized into type and country.
Based on type, the North America oil pollution remediation materials market is segmented into physical remediation, chemical remediation, thermal remediation, and bioremediation. The physical remediation segment held the largest market share in 2022. Furthermore, the physical remediation segment is sub segmented into booms, skimmers, and adsorbent materials. Additionally, the chemical remediation segment is bifurcated into dispersants and solidifiers.
By country, the North America oil pollution remediation materials market is segmented into the US, Canada, and Mexico. The US dominated the North America oil pollution remediation materials market share in 2022.
Ansell Ltd; Brady Corp; CL Solutions, LLC; Compania Espanola de Petroleos SA; Cosco Shipping Heavy Industry Co., Ltd; Cura Inc; Ecolab Inc; NOV Inc; Oil Spill Eater International Corp; Oil-Dri Corp of America; Osprey Spill Control; Regenesis; Sarva Bio Remed LLC; SkimOIL LLC; and TOLSA SA are some of the leading companies operating in the North America oil pollution remediation materials market.
1. Ansell Ltd
2. Brady Corp
3. CL Solutions LLC
4. Compania Espanola de Petroleos SA
5. Cosco Shipping Heavy Industry Co., Ltd
6. Cura Inc
7. Ecolab Inc
8. NOV Inc
9. Oil Spill Eater International Corp
10. Oil-Dri Corp of America
11. Osprey Spill Control
12. Regenesis
13. Sarva Bio Remed LLC
14. SkimOIL LLC
15. TOLSA SA
The North America Oil Pollution Remediation Materials Market is valued at US$ 864.22 Million in 2022, it is projected to reach US$ 1,063.46 Million by 2030.
As per our report North America Oil Pollution Remediation Materials Market, the market size is valued at US$ 864.22 Million in 2022, projecting it to reach US$ 1,063.46 Million by 2030. This translates to a CAGR of approximately 2.6% during the forecast period.
The North America Oil Pollution Remediation Materials Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Oil Pollution Remediation Materials Market report:
The North America Oil Pollution Remediation Materials Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Oil Pollution Remediation Materials Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Oil Pollution Remediation Materials Market value chain can benefit from the information contained in a comprehensive market report.
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