Oil and Chemical Spill Kits Market – Geographical Segmentation and Forecast by Technavio

June 8, 2017

LONDON–(BUSINESS WIRE)–#Research–The global
oil and chemical spill kits market is expected grow at a
CAGR of over 3% during the forecast period, according to Technavio’s
latest report.


In this report, Technavio
covers the market outlook and growth prospects of the global oil
and chemical spill kits market for 2017-2021. The market
is further categorized into two product segments, including oil spill
kits, and chemicals spill kits, of which the oil spill kits segment
dominated the market with nearly 60% of the overall market share in 2016.

“The growth of the market is driven by stringent and comprehensive
regulations by regulatory bodies such as Occupational Safety and Health
Administration and National Fire Protection Association as the
increasing number of oil and chemical spills are causing threats to
public and natural resources. Also, increasing awareness of the need for
preparedness and response activities with respect to oil pollution will
drive the market toward growth,” says Neelesh Prakash Singh, a lead power
research expert from Technavio.

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Technavio’s research study segments the global oil and chemical spill
kits market into the following regions:

  • Americas
  • EMEA
  • APAC

In 2016, with a market share of over 40%, the Americas dominated the
market, followed by EMEA with almost 33% and APAC with over 27%.

Oil and chemical spill kits market in the Americas

The demand for oil and chemical spill kits will be spurred by the
increasing number of oil and chemical spills in recent years and the
stringent regulations imposed by regulatory bodies such as OSHA. North
America dominated the market, because of its huge oil and gas reserves
and production backed by the technological advances.

“The market will also be driven by the growth of the manufacturing
and automotive industries, as they deal with hazardous chemicals and
lubricants in their day-to-day processes, which, at times, may lead to
accidents such as spills or explosions, thereby impacting the market,”
says Neelesh.

Oil and chemical spill kits market in EMEA

In EMEA, Europe is a hub for manufacturing innovations. Manufacturing
industries such as automotive, which is currently undergoing stagnant
growth, is expected to witness resurgence during the forecast period.
Countries such as Egypt, Iran, South Africa, and Nigeria will experience
dramatic improvements in their automobile sales. Therefore, automakers
from other parts of the world are expected to establish factories in
these countries.

In Europe, the European Maritime Safety Agency (EMSA) is the regulatory
body that undertakes activities to ensure a safer, cleaner, and more
secure maritime environment. The intervention of such regulatory bodies
has an impact on the industries involved in the transportation of oil
and chemicals via water bodies.

Oil and chemical spill kits market in APAC

The market for oil and chemical spill kits will benefit owing to the
growth of the manufacturing sector in the region. Also, APAC is
witnessing an increase in oil and gas E&P activities in countries such
as China, Australia, South Korea, and India. The manufacturing sector
includes the automotive sector, which is witnessing a boom in Southeast
Asia, including in Thailand, Malaysia, and Indonesia.

The top vendors in the global oil and chemical spill kits market
highlighted in the report are:

  • Chemtex
  • Darcy Spillcare Manufacture
  • ENPAC
  • Oil-Dri Corporation of America

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Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
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value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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