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Global Sulfur Recovery Technology Market Projected To Grow With A CAGR Of 9.0 % By Value From 2018 To 2026

According to the latest report published by Acute Market Reports “Global Sulfur Recovery Technology Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global Sulfur Recovery Technology market accounted for US$ 1,576.7 Mn in 2017, expanding at a CAGR of 9.0% from 2018 to 2026.

Market Insights

The global Sulfur Recovery Technology accounted for US$ 1,576.7 Mn in 2017 growing with a CAGR of 9.0% during the forecast period from 2018 to 2026. The Sulfur Recovery Unit (SRU) is often referred to as the Claus Process. This process recovers elemental sulfur from petroleum and natural gas refining processes. It also reduces the hazardous sulfur emissions to the required limits of 250 ppm. Sulfur is recovered majorly as a byproduct of oil & gas industry.  Sulfur is removed from coal gasification process so as to prevent catalyst poisoning and corrosion formation among downstream component. Moreover, the recovered sulfur has multiple end-use applications such as in fertilizers, rubbers, pharmaceuticals and cosmetics industries amongst ‘Others’. Therefore, growing demand for sulfur has prompted the refining industry to move towards sulfur recovery processes such as ultra-desulfurization for gasoline and diesel.

Browse the full report Global Sulfur Recovery Technology  Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 at  https://www.acutemarketreports.com/report/sulfur-recovery-technology-market

The stringent environmental regulations and rise of contaminated gas containing oxides of sulfur has led to adoption of better technologies among oil and gas industry worldwide. Industry leaders such as Jacobs have devised Super Claus and EuroClaus technologies which exhibit sulfur recovery rate of 99.5% to 99.8%. The Super Claus Process is designed to overcome the major disadvantage of Claus Process (sulfur recovery efficiency of up to 95%). New emission regulations, growing demand for sulfur recovery has further led to the adoption of Super Claus Process. Sulfur compounds are present naturally in crude oil and therefore exists in their derivatives. Sulfur in gasoline hampers the effectiveness of emission control systems thereby further contributing to air pollution. Shipping is the dominant emission source of sulfur as it has resulted from the combustion of marine fuels. Shipping industry is the largest consumer of lowest grades of fuel thus contributing to maximum share of release of harmful/toxic gases into the environment. These emissions have been regulated by International Maritime Organization (IMO) through the International Convention for the Prevention of Pollution from Ships (MARPOL). These regulations have mitigated emissions by means of changing fuel type or exhaust gas cleaning systems. Sulfur recovery through a multistage process involves high operational expenditure. Thus, cost factor has been a major restraint holding back the growth of the sulfur recovery market. Refineries are adopting specialized tail gas treatment recovery process which in turn serves as opportunity for the market during the forecast period from 2018 to 2026.

The global Sulfur Recovery Technology market has been segmented by technology, source of recovery, capacity and geography. In 2017, Claus process segment dominated the global sulfur recovery technology market by technology. Growing requirement of single stage Claus plants to expand into corresponding multi-stage plants owing to the strict environmental regulations is mainly driving the market. In terms of source of recovery, oil & gas segment held the largest revenue share in 2017. In terms of capacity, Up-to 100 t/d held major share of the global sulfur recovery technology market. In terms of geography, Asia Pacific is the most prominent market and held the largest market share in terms of value in the global sulfur recovery technology market. Increasing government and environmental regulations followed by increasing adoption of this technology in China is mainly driving the Sulfur Recovery Technology market in this region.

Key players operating in the global sulfur recovery technology market includes Jacobs Engineering Group Inc., The Linde Group, EXXON MOBIL CORPORATION, Royal Dutch Shell Plc, John Wood Group Plc., Amec Foster Wheeler, Black & Veatch Holding Company Chiyoda Corporation, Fluor Corporation, GTC Technology US, LLC, CHICAGO BRIDGE & IRON COMPANY N.V. and BASF SE among others.

The Global Sulfur Recovery Technology Market is Segmented into:

ATTRIBUTE DETAILS
Research Period  2016-2026
Base Year 2017
Forecast Period  2018-2026
Historical Year  2016
Unit  USD Million
Segmentation

 Technology Segment (2016–2026; US$ Mn)

 Source of Recovery Segment (2016–2026; US$ Mn)

 Capacity Segment (2016–2026; US$ Mn)

 Geography Segment (2016–2026; US$ Mn)

*Complete segmentation list is on report page

 

Key questions answered in this report

  • What are the current market trends and dynamics in the sulfur recovery technology market and valuable opportunities for emerging players?
  • Estimated forecast and market projections up to 2029
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which is the largest regional market for sulfur recovery technology?
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • The worldwide market value of the sulfur recovery technology market in 2019 and 2020
  • Which are the key trends driving the global sulfur recovery technology market growth?
  • Who are the leading service providers in the sulfur recovery technology market worldwide?

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