Sulphur Recovery Technology Market to Attain Valuation of US$ 2.7 bn by end 2027

A greater number of refinery projects across the world should create an immense opportunity for sulphur recovery technology manufacturers to install their units in the plants. Upcoming refineries in the APEJ and MEA region are anticipated to be major contributors to the global sulphur recovery technology market. Future Market Insights has comprehensively assessed the sulphur recovery technology market in its report titled ‘Sulphur Recovery Technology Market: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027’. The sulphur recovery technology market is expected to have a value of over US$ 2.7 billion by end 2027.

Technology – Claus Process Slightly Ahead of Tail Gas Treatment Technology

There is a close battle between the claus process and tail gas treatment technology in the sulphur recovery technology market with the former edging ahead. The claus process is predicted to record a CAGR of 12.8% for the decade. However, it would be unwise to ignore the tail gas treatment technology segment entirely in the sulphur recovery technology market as companies are focusing on it as well. For e.g. – BASF has introduced tail gas treatment technology to increase plant efficiency and reduce sulphur technology. This helps decrease sulphur emissions and lowers operational expenditure because of lesser amine circulation rates and reboiler duties.

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Source of Recovery – Gas Recovery has Significant Traction in Sulphur Recovery Technology Market

The gas type segment has a market share of approx. two thirds of the global sulphur recovery technology market by source of recovery and is poised to lose 210 BPS going forward. However, gas recovery is unlikely to cede its pole position in the sulphur recovery technology market. An incremental dollar opportunity of US$ 1.1 billion can be tapped in the gas recovery segment of the sulphur recovery technology market. Increasing production and exploration activity, particularly in respect of shale gas, is fuelling demand for sulphur recovery units in refineries. Gas refining has great potential in the Middle East, Central Asia, and East Asia.

Capacity – < 100 t/D Dominates the Sulphur Recovery Technology Market

The < 100 t/D capacity segment has a share of more than half the global sulphur recovery technology market by capacity at the end of 2017. The < 100 t/D segment is popular on account of having a lower emission footprint, being easy to upgrade, and relatively cost-effective as compared to other units. Several companies have invested in < 100 t/ D units such as Siirtec Nigi that has agreed to supply two Claus sulphur recovery units in Kuwait with a capacity of < 100 t/D each.

Region – Europe and MEA Key in Sulphur Recovery Technology Market

Europe and MEA are the regions to look out for in the sulphur recovery technology market. Refinery projects in diverse nations such as Saudi Arabia, Kazakhstan, and Russia should boost the demand for sulphur recovery technology. These countries have ample oil reserves and are major global suppliers, making them lucrative for sulphur recovery technology unit manufacturers. The Europe sulphur recovery technology market is projected to push past US$ 720 million by end 2027.

Competition Dashboard in Sulphur Recovery Technology Market

The companies profiled in the sulphur recovery technology market report are Jacobs Engineering Group, John Wood Group, TechnipFMC, WorleyParsons, Prosernat, Black and Veath Holding Company, Bechtel Corporation, KNM Group Berhad, CB&I, Royal Dutch Shell, Exxon Mobil Corporation, KT Kinetics Technology SPA, Fluor Corporation, Linde AG, Chiyoda Corporation, and GTC Technology.

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Takeaways

Sulphur recovery technology unit manufacturers must take advantage of the refineries being set up across the globe. APEJ, MEA, and Europe could contribute a sizeable chunk of revenue in the sales of sulphur recovery technology units and companies are advised to target these regions with all guns blazing.

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This release was published on openPR.