Global Mercury Removal Market Share Worth $2365 Million by 2028 | CAGR 3.2

In terms of revenue, the global mercury removal market accounted for USD 1,563 Million in 2020 and is expected to reach USD 2,365 Million by 2028, growing at a CAGR of 3.2 from 2021 to 2028. The market is mainly driven by factors such as an increase in the number of oil and gas industry, labs, water treatment plants, increased fundings from the government, among others.

Key Findings

• The type segment is anticipated to be the second dominating segment for the Mercury Removal Market. Under the type segment, the activated carbon segment is expected to hold the largest share in 2020. The market growth for the segment is mainly attributed to the increasing use of activated carbon in industries such as oil and gas, chemicals, water treatment plants among others.
• The application segment is anticipated to hold the largest share of the market and be the dominating segment for the Mercury Removal Market. Under the application segment, the oil and gas segment is expected to hold the largest share in 2020. The market growth for the segment is attributed to the increasing number of oil and gas industries, water treatment plants among others.
• Asia Pacific region is expected to hold the largest share of more than 36% and grow at the fastest CAGR over the forecast period for the Mercury Removal Market. The countries such as China and India are anticipated to be dominating countries in this region. The market in these countries is mainly driven by the expansion of oil and gas industries, pharma and chemical labs, water treatment plants, and increasing investment and fundings from the government and several private organizations.

Some of the key players in the Mercury Removal Market are Axen, Nucon International, Johnson Matthey, Pall Corporation, Cabot Corp, Calgon Carbon Corporation, Honeywell International, Schlumberger, among others.

The mercury removal market growth is attributed to an increase in the number of oil and gas industries, labs, water treatment plants, increased fundings from the government, an increase in the number of chemical industries, growing number of pharma labs, among others. Nowadays, owing to the rising demand for oil and gas, the oil and gas industries are expanding tremendously. Thus, the expansion of these industries is increasing the adoption of mercury removal further propelling the growth of the market. Also, the demand for water from chemical and pharma industries is increasing robustly. Thus, to meet the untapped supply and demand gap the number of water treatment plants is increasing which is further increasing the adoption of mercury removal in water treatment plants which is further boosting mercury removal market growth.

Asia Pacific region is projected to hold the largest share of more than 35%, for the Mercury Removal Market. Emerging economies such as China and India among others are expected to drive the market in this region. China is projected to be dominating country in the region followed by India. The growth in this region is mainly attributed to expanding oil and gas industries, pharma and chemical labs, water treatment plants, and increasing investment and fundings from the government and several private organizations among others.