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Sulphur Recovery Technology Market Detailed in New Research Report Market: Technological advancements and Geographic growth analysis and Industry insights

10-30-2018 11:40 AM CET | Industry, Real Estate & Construction

Press release from: Future Market Insights

Sulphur Recovery Technology Market Detailed in New Research

According to a market report published by Future Market Insights, titled 'Sulphur Recovery Technology Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027', the long-term outlook on the global sulphur recovery technologymarket remains very positive, with market value of sulphur recovery technology expected to increase at a CAGR of 12.8% during the forecast period (2017–2027), embarking upon a market value of US$ 2.7 Bn in 2027.Sulphur recovery technology is employed for the conversion of hydrogen di-sulphide (H2S) into elemental sulphur, which is one of the major by-products of processing high sulphur crude oil and natural gas in a midstream process. The increasing focus on regulations to reduce the levels of sulphur in products and lower sulphur emissions has, in turn, resulted in an increase in the demand for the deployment of sulphur recovery technology.

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Hydrogen sulphide has an undesirable odour, and is also deemed to be hazardous to human health. This issue has called for stringent regulations related to controlled and low levels of emission of hydrogen di-sulphide. Sulphur recovery technology, thus, has been introduced to address this issue, which has experienced considerably high levels of adoption in existing oil and natural/shale gas refineries, which is expected to grow at a higher rate during the forecast period. Sulphur recovery technology is mainly based on two processes: Claus and tail gas treatment processes, where both the processes have a fair share of use in respective areas of application contributing to the growth of sulphur recovery technology market.

The sulphur recovery technology market has been analysed on the basis of three parameters - technology, source of recovery, and capacity. Among the sulphur recovery technology types, the Claus process type as well as the tail gas treatment type are expected to expand at significant CAGRs in terms of value over the forecast period, and are expected to hold near equal shares in terms of sales revenue by 2017. On the basis of source of recovery, at present, the sulphur recovery technology market value share is mainly acquired by gas refineries. However, in due course, the oilfield refineries segment is anticipated to grow at a significant CAGR and leapfrog over its counterparts for the sulphur recovery technology towards the end of the forecast period. By capacity, the 201-300 tons/day segment is expected to experience high growth for sulphur recovery technology in the current as well as the forthcoming periods of the forecast period, with most of the oil and gas refinery output process capacity requirement falling in the mentioned segment.

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In terms of the sulphur recovery technology market outlook and analysis by geographical region, the Americas, consisting of prominent countries of North and Latin America such has the U.S., Canada, Mexico, etc., have been identified as the leading regional markets in terms of sulphur recovery technology market value share and projected growth during the forecast period. This is due to strong refinery bases established across these countries having a production contribution share of 45% in the global market coupled with a significant influx of greenfield projects of oil and gas refineries by 2020. The Middle East & Africa and Asia are the next prominent regions, followed by Europe, and are considered to witness significant growth in the sulphur recovery technology market during the forecast period. In addition to the existing demand from oil and gas refineries, petrochemical refineries are also viewed as the next source type, which is expected to offer additional demand and growth opportunities for the global sulphur recovery technology market. The sulphur recovery technology market has been identified to be fairly competitive, with tier-2 companies having a higher aggregate share in the overall sulphur recovery technology market

Sulphur Recovery Technology Market Participants

Some of the market participants identified in the sulphur recovery technology market are Royal Dutch Shell plc, Exxon Mobil, Bechtel Corporation, Fluor Corporation, Linde AG, TechnipFMC plc, Jacobs Engineering Group Inc, CB&I, and Chiyoda Corporation. Emphasis of high level of production innovation scale backed by technical marketing to the decision makers of refinery operations involving project management companies has been the chief strategy of sulphur recovery technology providers in general.

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ABOUT US:

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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