Albany, NY -- (SBWIRE) -- 03/13/2019 -- Emergency spill response is an important part of a company's safety and health program. Any incident involving spill or release of hazardous chemicals, mixtures of such chemicals, or hazardous waste that requires the intervention of spill cleanup specialists to contain and remove the spilled material safely is an emergency response spill.
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Increase in transportation and trade of hazardous and non-hazardous chemicals is driving the market. The emergency spill response market is expected to expand substantially in the near future due to the implementation of stringent environmental regulations across the world in order to lower environmental pollution from spills. Government agencies across the globe are focusing on reducing environmental pollution from spills. This is also driving the emergency spill response market.
Global Emergency Spill Response Market: Key Segments
The global emergency spill response market can be segmented based on product, spill material, vertical, and region. In terms of product, the emergency spill response market can be classified into booms, transfer products, skimmers, sorbents, radio communication products, in-situ burning products, dispersants, and dispersant products. The skimmers segment is expected to hold the major share of the emergency spill response market during the forecast period due to the high demand for mechanical recovery methods for spill recovery. Demand for products that use the mechanical recovery method is high, as they remove the spilled content from the spill environment, thus lowering the impact of spills on the environment. The radio communication products segment is anticipated to expand at a rapid pace during the forecast period owing to the rise in focus on prevention of spills as well as reduction of environmental pollution through early detection.
Based on spill material, the global emergency spill response market can be bifurcated into oil and chemical & hazardous material. Based on end-use, global emergency spill response market can be segregated into chemical, oil and gas, transportation, industrial facilities, ports and harbors, and government. The ports and harbors segment is expected to expand at a fast-paced CAGR during the forecast period. This growth is primarily ascribed to the increase in international sea trade and rise in focus on the environmental impact of oil spills. Growth in sea trade results in increased spills during vessel operations, which include loading and discharging, anchoring, and bunkering. The primary causes of larger spills are allision or collisions, hull failures, equipment failures, fire, and explosion, among others.
Global Emergency Spill Response Market: Regional Outlook
In terms of region, the global emergency spill response market can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America dominated the global emergency spill response market in 2017. This trend is estimated to continue during the forecast period owing to the presence of a large number oil rigs and subsea oil operations. The U.S. Environmental Protection Agency (EPA) is accountable for the enforcement of prevention, preparation, and response regulations for oil spills that occur in and around inland waters of the U.S. The United States Coast Guard (USCG) is the lead oil spill response agency for oil spills in coastal waters and deepwater ports. Middle East & Africa is another major region for the market owing to growing number of oil rigs and subsea oil operations as well as chemical plants.
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Global Emergency Spill Response Market: Key Players
Major companies operating in the global emergency spill response market include Veolia Environnement S.A., Polyeco Group, Markleen A/S, Elastec, Inc., Clean Harbors, Inc., AM Environmental, US Ecology, Inc., Oil Spill Response Ltd, Marine Well Containment Company, Vikoma International Ltd, DESMI A/S, and Adler and Allan Limited.