Triazine Market Trends, Growth Drivers and Forecast Report, 2030

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Triazine Market To Generate 814.55 Million in
Revenue by 2030
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Often, the crude oil extracted from the earths
surface contains excessive amounts of hydrogen
sulphide (H2S), which causes souring. This can
lead to corrosion and damage to underwater
metallic pipelines and other equipment, which can
seriously harm exploration and production (EP)
operations. As a result, the global triazine
market, which generated 518.68 million in 2019,
is projected to witness a 5.6 CAGR between 2020
and 2030, to reach 814.55 million in
2030. Triazines, especially 1,3,5-triazine, is
used in high volumes as an H2S scavenger, to
ensure smooth EP operations and prevent air and
water pollution in the surrounding environment.
In this regard, the key driver for the triazine
market is the biodegradability of
monomethylamine (MMA), a triazine derivative,
which propels its usage in oil gas extraction
and refining and their transportation via
shipping containers, pipelines, and storage
tanks, apart from water treatment. The COVID-19
pandemic had a mixed impact on the triazine
market due to the wide application base of these
compounds. On one hand, the demand for triazines
in the oil gas, paints coatings, and
agrochemical sectors declined massively, while
on the other, their consumption in sanitary
product, food beverage, and medical packaging
applications remained almost unaffected.
Therefore, in spite of the closure of several
manufacturing plants around the world, in the
wake of the lockdowns, market players coped
well. Triazine Market Segmentation
Analysis Throughout this decade, the
1,3,5-triazine category will continue holding the
largest share in the triazine market, on the
basis of type. The most stable of all the three
isomers of triazines, it is widely used in the
oil gas and chemical industries. This chemical
finds high-volume application as an H2S scavenger
in the oil gas sector and during the
manufacturing of pesticides. Moreover, MMA,
monoethanolamine (MEA), and melamine, which are
derived from 1,3,5-triazine, are important
intermediates in the production of numerous
products. Request for sample pages of this report
https//www.psmarketresearch.com/market-analysi
s/triazine-market- report/report-sample The
triazine market, under the product segment, was
dominated by the MEA category in the past. The
oil gas industry uses MEA in high volumes for
reducing the amount of H2S in the oil and gas
extracted from wells. Thus, the growing oil
gas sector, on account of the increasing demand
for electricity, will propel the consumption of
MEA. Currently, the oil gas category is
generating the highest revenue in the triazine
market, under segmentation by end use. Triazine
is one of the most-cost-effective agents for
sour management, which refers to controlling the
amount of H2S in oil and gas. Moreover,
triazines help check the corrosion caused to EP
equipment, including storage tanks and
pipelines, and remove harmful odors. North
America has been the most-productive triazine
market till now, and it is
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• expected to display the highest value CAGR, of
  6.1, in the years to come. The Energy
  Information Administration (EIA) mentions a
  12-times increase in shale EP activities in the
  U.S. over the last decade, which has propelled
  the consumption of triazines and their
  derivatives. Due to its cost-effectiveness over
  crude oil, shale gas is being increasingly used
  for the production of a variety of intermediate
  and commodity chemicals in the region.
• The most-significant companies in the global
  triazine market are Baker Hughes Company,
  Ashland Global Holdings Inc., Foremark
  Performance Chemicals, BASF SE, Eastman Chemical
  Company, Dow Inc., Haihang Commercial Holding Co.
  Ltd., Evonik Industries AG, Stepan Company, and
  Hexion Inc.
• Key Findings of Global Triazine Market Report
• Robust product demand seen during COVID-19
  pandemic
• Demand for 1,2,4-triazine to rise at highest rate
  in coming years
• Oil gas most profitable end use for triazine
  suppliers
• North America to remain largest consumer of
  triazines and derivatives
• Mergers and acquisitions key trends in market
• Market partially consolidated in nature
• Browse full report at https//www.psmarketresearc
  h.com/market- analysis/triazine-market-report
• Triazine Market Size Breakdown by Segments
• By Type
• 1,3,5-Triazine

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• By end use
• Europe Triazine Market
• By type
• By product
• By end use
• By country Germany, France, Italy, U.K., Spain,
  and Rest of Europe
• Germany triazine market
• By type
• By product
• By end use
• Asia-Pacific (APAC) Triazine Market
• By type
• By product
• By end use
• By country China, Japan, South Korea, India,
  and Rest of APAC
• China triazine market
• By type
• By product
• By end use

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