Sulphur Recovery Technology Market Is Expected to Exhibit An Impressive CAGR of 11% During The Forecast Period of 2021-2031

Newly released data by Future Market Insights (FMI), projects that the sulphur recovery technology market will reach valuation of US$ 1.2 Bn by 2021 and is expected to grow at compound annual growth rate (CAGR) of 11% for 2021 – 2031. The increasing production of shale gas will accelerate the growth with top market players holding 2/5th of sulphur recovery technology market share in 2021.
Growth predictions remain positive for Europe due to increasing government expenditure on oil and gas industry and presence of leading market players in the U.K. and Germany. Spurred by this, the Europe sulphur recovery technology market is projected to grow at about 12% CAGR during the forecast period.
According to the recent research report published by Future Market Insights, the sulphur recovery technology market is expected to exhibit an impressive CAGR of 11% during the forecast period of 2021-2031.

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Key Takeaways of Sulphur Recovery Technology Market Study
• Increasing exploration and production activities, especially those associated with shale gas, led to high demand for sulphur recovery technology units from refineries. Production of recovered sulphur from gas refining activities is increasing significantly, attributable to the rise of major gas refining activities across the globe.
• In terms of plant capacity, there is a rising demand for sulphur recovery technology units with capacity of less than 100 t/d, owing to lower emission footprint, ease of upgradation, and relative cost-effectiveness as compared to other units.
• Stringent environmental regulations regarding emission of hydrogen sulfide mainly released during oil & gas extraction, treatment, transportation, and refining are boosting the demand for development of cost-effective desulphurization technologies. For instance, environment legislation of EU (European Union) sets the standards for oil & gas refineries industries in Europe.
• The oil and gas production in prevailing refineries is expected to have a greater impact on the growth and development of the global sulphur recovery technology market in comparison to new refinery bases.
• In terms of value and volume, Europe and the MEA are identified as dominant regions throughout the forecast period. Increasing number of refineries projects in countries in Europe and MEA such as Saudi Arabia, Kazakhstan, and Russia, are expected to supplement the demand for sulphur recovery technology. These countries also have oil reserves, which in turn support the demand for sulphur recovery technology.
“APAC is one of the majorly profitable markets for players offering sulphur recovery technology, attributable to the establishment of new refineries to cater to growing demand for new gas refining units in the region,” says an FMI analyst.

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Sulphur Recovery Technology Market: Competitive Landscape
The global sulphur recovery technology market has remained competitive with the presence of giant players having expertise in advanced manufacturing technologies, and product offerings for diverse applications.
However, leading players account for nearly 2/5th of the global sulphur recovery technology market share. These players include Royal Dutch Shell plc, Exxon mobil Corporation, Bechtel Corporation, Fluor Corporation, and Linde AG & Technip FMC plc. Such key players are adopting strategies such as expansion, acquisitions, and product launches, and are creating challenges for small-scale players.
Key participants in the sulphur recovery technology market include Bechtel Corporation, Linde AG, Royal Dutch Shell Plc, Exxon Mobil, Jacobs Engineering Group Inc, Technip FMC plc CB&I, Chiyoda Corporation, Worley Parsons Ltd, GTC Technology, and KT-Kinetics Technology SpA.

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By Segment:
Technology
• Claus Process
• Tail Gas Treatment
Source of Recovery
• Oil
• Gas
• Others
Capacity
• 300 t/D
Region
• Asia Pacific
• North America
• Latin America
• Europe
• MEA

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