Global Sulfur Recovery Technology Market: Overview
Over the past few years, sulfur has risen in content in sour gases and crude oils, world over. In the form of hydrogen sulfide (H2S), it is found in gaseous waste streams coming out of oil refineries, natural gas production facilities, and wastewater treatment plants. The drive for various sulfur recovery technologies seems to be more motivated by environmental concerns than of economical rewards. There is a rising need for recovering sulfur from waste streams on account of environmental factors. Claus process is used for the recovery of elemental sulfur from sour or acid gas, and is especially beneficial when the concentrations are high or when the feed capacity is made at scale. Although other processes have also been developed and used in recent decades but none other than Claus process has gained widespread popularity in the sulfur recovery technology market. Various improvements have been made to enhance the recovery of sulfur through Claus process, such as the application of cold bed absorption process at process. Various other technological advancements have been attempted at industry players to reach the sulfur recover level to 99.99%.
The report presents evidence-based insights and elaborates assessment of key growth drivers and restraints, lucrative avenues, recent product development initiatives, and major technological advances in the sulfur recovery technology market.
Global Sulfur Recovery Technology Market: Trends and Opportunities
On account of presence of stringent environmental norms on pollution in several countries, sulfur recovery technology is majorly applied when the concentration of sulfur is relatively low. Vendors are focussing on offering cost-effective solutions to attract end users. The rising use of sulfur recovery technology for lower grade fuels in various parts of the world is also boosting the market. The rising popularity of two-bed catalytic claus plants is also bolstering the expansion of the sulfur recovery technology market. Rapid advances made in crude oil and natural gas processing in numerous developing and developed regions is also fueling the demand for sulfur recovery technology. There is an extensive demand for the technologies in oil refining operations in various parts of the world.
Uptake of sulfur recovery technologies has received a robust fillip from the stringent implementation of environmental regulations in the oil and gas industry in several developing and developed countries. Focus of industry players on improving the compliance with prevailing regional and global emission standards also augurs well for the sulfur recovery technology market. Furthermore, crude oil processing has been making rapid strides in developing economies, notably in Asia Pacific.
Global Sulfur Recovery Technology Market: Regional Outlook
On the geographic front, developed regions are showing great potential in the global sulfur recovery technology market. For instance, North America is expected to be potentially lucrative regional market over the next few years. The growth will be fuelled by implementation of stringent standards in the oil and gas industry in the region. Meanwhile developing regions are expected to be increasingly attractive markets for sulfur recovery technologies.
Key Players Mentioned in the Report
Several prominent players are expected to adopt mergers and acquisitions as one of the key strategies adopted by them to consolidate their positions or gain competitive edge over their peers. Some of the prominent names in the global sulfur recovery technology market include Amec Foster Wheeler, Praxair, Inc., GTC Technology US, Fluor Corporation, Amec Foster Wheeler, Royal Dutch Shell Plc., and The Linde Group.
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.