The emergency spill response market is expected to be valued at USD 33.68 Billion by 2022, growing at a CAGR of 7.0% between 2016 and 2022. The market is highly competitive due to the presence of a large number of established players. Market players are majorly adopting the strategies of partnerships and acquisitions to achieve growth.
The companies operating in the emergency spill response market are consolidating their market position through acquisitions and joint ventures and expanding their facilities to cater to the increasing demand for emergency spill response products and services. The major factors driving the growth of the emergency spill response market are the increasing awareness regarding the effects of spills on the environment and the growing focus on preventing the spills by adopting the best practices for spill response through manpower training.
Oil Spill Response Limited is a provider of emergency preparedness, subsea well intervention services, and member response services. Following the Montara and Macondo well incidents, the company partnered with Subsea Well Response Project to provide global Subsea Well Intervention Service (SWIS) in cooperation with the Joint Industry Project (JIP). The company is the largest spill response service provider as it contains stock piles in all regions across the world to respond all type of spills including Tier 2 and Tier 3.
Polyeco Group is a leading provider of Emergency spill response products and solutions for the oil and gas, shipping companies, industrial facilities, governments, ports and harbors, and protection and indemnity insurance companies. Polyeco Group was formed with the merger of Polyeco International (UAE) and Lamor Corporation AB (Finland). This merger enabled the company to become the largest spill response products manufacturer and services provider globally. The company, through its subsidiary Lamor Corporation AB, offers oil spill response products, industrial products, soil and water treatment services, and training services. Its oil spill response products include skimmers, booms, pumps, reels, vessels and work boats, and oil storage products. Through its other subsidiary Environmental Protection Engineering S.A., the company operates more than fifty emergency response facilities in Greece, Albania, Cyprus, Oman, and Iraq and provides worldwide emergency response services including containment and recovery of oil at sea, shoreline and nearshore clean-up, ship-to-ship or ship-to-shore transfer, offloading of hydrocarbons and cargo from sunken or grounded vessels, counter-pollution measures during salvage operations, remediation and handling of contaminated and/or distressed cargoes, wreck removal, processing and disposal of oily waste and residues, and hazardous and noxious substances (HNS) response services.
Emergency Spill Response Market by Type (Product (Booms, Skimmers, Transfer Products, Sorbents), Services (Product Rental, Waste Management, Manpower Training), Spill Material (Oil, Chemical & Hazardous), Vertical - Global Forecast to 2022
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