Sulphur Recovery Market will reach at $ 22.2 bn by 2032, key developmental strategies implemented by the key players:Jacobs Engineering Group, KT-Kinetics Technology SpA, Technip FMC, Chiyoda Corporation, Fluor Corporation, Amec Foster Wheeler, Heurtey Pe

Sulphur Recovery Market will reach at $ 22.2 bn by 2032.The growing awareness to reduce greenhouse gas emissions is a key growth driver of the global sulphur recovery technology market. Sulphur is a vital element which enhances the nutrition of soil, and hence it is widely use in the manufacturing of fertilizers. Additionally, sulphur is used for improving the efficiency of power plants. The growing demand for sulphur from several end-use industries is a prime factor boosting the global sulphur recovery technology market. Growth opportunities in the mining sector is also aiding the growth of sulfur recovery technology market. Further, increased investments by industry bodies for the research and development of advanced technology is serving to boost the global sulphur recovery technology market. Furthermore, increasing rate of urbanization is another factor which propels growth of global sulphur recovery technology.

Global Sulphur Recovery Technology Market: Geographical Analysis

Geographically, the global sulphur recovery technology market could be segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and Rest of MEA. Among all these regions, Asia Pacific is expected to dominate the global elemental sulfur market in the near future. This is due to the increasing number of refineries and gas processing plants in emerging economies of the region.

Global Sulphur Recovery Technology Market: Competitive Landscape

Some of the prominent players in the global sulfur recovery technology market are Jacobs engineering group Inc, Amec Foster Wheeler, Technip SA, Linde AG, WorleyParsons Ltd, and Chiyoda Corporation. The key players in the global sulphur recovery technology market are adopting newer approach such as business partnerships and market expansion to stay ahead of each other. Further, the players are looking forward to incorporate advanced sulphur recovery technology to enhance sulphur yield.

Major Key players profiled in the report include:
Jacobs Engineering Group, KT-Kinetics Technology SpA, Technip FMC, Chiyoda Corporation, Fluor Corporation, Amec Foster Wheeler, Heurtey Petrochem, Linde AG, Worley Parsons Ltd, GTC Technology US, McDermott, Sunway Petrochemical Engineering

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Key Market Trends

Refineries Segment to Dominate the Market

New regulations, especially in the transportation segment under the IMO rules, 2020, heavily focus on the decrease in the sulphur content in the fuel. For ships operating outside designated Emission Control Areas, IMO has set a limit for sulphur in fuel oil used on board ships of 0.50% m/m (mass by mass). More refining of crude oil is expected to boost the sulphur recovery market.
An increase in the consumption of oil in the world has led to an increase in the production of oil with high sulphur content. Refineries equipped with sulphur recovering technologies have increasingly become mandatory in many countries to limit the sulphur emission.
The allowed sulphur content has been decreasing over the years, causing companies the use of tail gas treating plants, in coercion, with sulphur recovery unit. This increases the refining of fuel from 95%-97% to 99.9%.
The United States has the largest refining capacity, in the world. The private players, in the country, are expected to follow the regulations on sulphur emission, and therefore invest more in the sulphur recovery industry.
Therefore, with the increase in demand for clean fuel, the global sulphur recovery technologies market is expected to increase considerably during the forecast period.

Asia-Pacific to Dominate the Market

Asia-Pacific region has dominated the sulphur recovery technologies market, in 2019, and is expected to continue its dominance in the coming years as well. The region consists of major oil and gas refining countries and, also, have some nations with relatively large hydrocarbon reserves in the world.
As of 2019, India requires on-road diesel and gasoline nationwide to meet BS-IV specifications (maximum 50 ppm sulphur). These specifications are expected to tighten to BS-VI (10 ppm sulphur) in 2020. Reduction in the sulphur content is expected to provide a boost for the market.
China has accepted the new IMO guidelines and is expected to further aid the growth of sulphur recovery technologies by increasing its investments into the modernization of the refining sector. In 2020, Guangzhou refinery became the newest refinery in the country to be able to produce very low-sulphur fuel oil (VLSFO) for the marine bunker fuel market
Hence, the Asia-Pacific region is expected to dominate the market due to its large oil and gas refining sector and increasing demand for cleaner fossil fuel.

Market split by Type, can be divided into:
Claus Process, Claus Process and Tail Gas Treatment.

Market split by Application, can be divided into:
Petroleum and Coke, Natural Gas, Others

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Key Market Trends
Refineries Segment to Dominate the Market
New regulations, especially in the transportation segment under the IMO rules, 2020, heavily focus on the decrease in the sulphur content in the fuel. For ships operating outside designated Emission Control Areas, IMO has set a limit for sulphur in fuel oil used on board ships of 0.50% m/m (mass by mass). More refining of crude oil is expected to boost the sulphur recovery market.
An increase in the consumption of oil in the world has led to an increase in the production of oil with high sulphur content. Refineries equipped with sulphur recovering technologies have increasingly become mandatory in many countries to limit the sulphur emission.
The allowed sulphur content has been decreasing over the years, causing companies the use of tail gas treating plants, in coercion, with sulphur recovery unit. This increases the refining of fuel from 95%-97% to 99.9%.
The United States has the largest refining capacity, in the world. The private players, in the country, are expected to follow the regulations on sulphur emission, and therefore invest more in the sulphur recovery industry.
Therefore, with the increase in demand for clean fuel, the global sulphur recovery technologies market is expected to increase considerably during the forecast period.

Years Considered to Estimate the Market Size:
History Year: 2019-2020
Base Year: 2021
Estimated Year: 2022
Forecast Year: 2022-2030

Asia-Pacific to Dominate the Market
Asia-Pacific region has dominated the sulphur recovery technologies market, in 2019, and is expected to continue its dominance in the coming years as well. The region consists of major oil and gas refining countries and, also, have some nations with relatively large hydrocarbon reserves in the world.
As of 2019, India requires on-road diesel and gasoline nationwide to meet BS-IV specifications (maximum 50 ppm sulphur). These specifications are expected to tighten to BS-VI (10 ppm sulphur) in 2020. Reduction in the sulphur content is expected to provide a boost for the market.
China has accepted the new IMO guidelines and is expected to further aid the growth of sulphur recovery technologies by increasing its investments into the modernization of the refining sector. In 2020, Guangzhou refinery became the newest refinery in the country to be able to produce very low-sulphur fuel oil (VLSFO) for the marine bunker fuel market
Hence, the Asia-Pacific region is expected to dominate the market due to its large oil and gas refining sector and increasing demand for cleaner fossil fuel.

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