Chemical Injection Skids Market - Growth, Trends, and Forecasts (2023 - 2028)

The market for chemical injection skids is expected to grow at a CAGR of less than 3% during the forecast period. The major factor driving the growth of the market studied is rapid growth in the chemical industry. On the flipside, maturing markets in developed economies are expected to hinder the growth of the market studied.

Key Highlights

• The Energy, Power, and Chemicals industry dominated the market with a significant share. This segment is expected to have a significant demand due to increasing refining activities.
• Europe dominated the market and Asia-Pacific is expected to witness the fastest growth rate during the forecast period.

Chemical Injection Skids Market Trends

Energy, Power, and Chemicals Segment to Dominate the Market

• Energy, Power and Chemicals is one of the major end-user segment in chemical injection skids market. Pulp and paper industry is also included in this segment.
• Chemical injection skids are widely employed in the chemicals industry. They are used for the injection of various chemicals, including caustic soda (for high pressure cleaning, corrosion inhibitor chemicals, hydrochloric acid (for descaling purposes), and amines (for removal of sour gas), among many more.
• These chemicals are injected in key components of refineries, such as heat exchangers, mixers, flow conduits, columns and towers to ensure efficient processing and outputs of the input crude oil.
• In addition, these skids are also used for the injection of water treatment chemicals to treat the wastewater produced and for inhibition of gasoline and other additives to fuel oils. Coagulant dosing is also done using the chemical injection skids in order to aid in the coagulation of solids.
• The refinery capacities are witnessing a surge globally due to the rising usage and demand for petrochemical products.
• The increase in the capacities is also fueled to some extent by increasing oil & gas activities across the globe both in terms of production and consumption. Hence, the demand for chemical injection skids is expected to rise moderately during the forecast period.
• Moreover, chemical injection skids also find a major use in power generation. There are chemicals, such as ferric sulphate and sulphuric acid, which are needed in precise measurements for transformation of water into ultra-pure water for the boilers.

Asia-Pacific to Witness Lucrative Growth

• Asia-Pacific region is estimated to witness a fastest CAGR during the forecast period primarily due to the increasing demand from petrochemicals and chemical industries.
• China and Japan dominated the market in the Asia-Pacific, however, India is expected to witness a healthy growth during the forecast period.
• Increasing refining activities in these countries are in turn expected to boost the market demand.
• Japan is the fourth-largest oil consumer globally, with a refinery capacity of about 3,600 thousand barrels per day, which constitutes 3.7% of the world's refining capacity. Currently, Japan has approximately 23 oil refineries, and the demand for petroleum products is decreasing by 1-2% per year.
• Futhermore in India, in September 2018, the government of Gujarat selected Energy Infrastructure Limited (EIL), a subsidiary of the Netherlands-based Energy Infrastructure Butano (Asia) BV, to set up a liquefied petroleum gas (LPG) terminal at Okha, with an investment of INR 7 billion (USD 104.42 million).

Chemical Injection Skids Market Competitive Analysis

The market studied is fragmented among the top players. The key players include Proserv Group Inc., IDEX Corporation, SPX FLOW Inc., Petronash, and Seko SpA, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support