Sulfur Recovery Technology Market: Introduction
- Over the past few years, sulfur has risen in content in sour gases and crude oils across the world. 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 motivated by environmental concerns than economic rewards. Need for recovering sulfur from waste streams has been rising owing to environmental factors.
- The 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. Other processes have also been developed and used in recent decades; however, the Claus process has gained widespread popularity in the sulfur recovery technology market. Various improvements have been made to enhance the recovery of sulfur through the Claus process such as the application of cold bed absorption process. Various other technological advancements have been attempted by industry players to reach the sulfur recovery level of 99.99%.
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Drivers of Sulfur Recovery Technology Market
- Led by 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 focusing on offering cost-effective solutions to attract end-users. Rise in use of sulfur recovery technology for lower grade fuels in various parts of the globe is boosting the market. Uptake of sulfur recovery technologies has been increasing due to the implementation of stringent environmental regulations in the oil gas industry in several developing and developed countries.
- Increase in popularity of two-bed catalytic Claus plants is also boosting the sulfur recovery technology market. Rapid advances made in crude oil and natural gas processing in numerous developing and developed regions is fueling the demand for sulfur recovery technology. Demand for sulfur recovery technology has been rising in oil refining operations in various parts of the world. 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.
Restraints of Sulfur Recovery Technology Market
Dearth of universal directives pertaining to applications of sulfur recovery technology is expected to restrain the market during forecast period. Every country has different directives pertaining to applications of sulfur recovery technology. Companies find it difficult to deal with these county wise regulations. This discourages investments in the sulfur recovery technology market, thereby restraining the market during forecast period.
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COVID-19 impact on Sulfur Recovery Technology Market
- The COVID-19 outbreak is hampering the demand for sulfur recovery technology in many applications. Many governments across the globe have enforced lockdown as a measure to curb the spread of the coronavirus. This has resulted in slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown, which are hampering the demand for sulfur recovery technology.
- Key players operating in the sulfur recovery technology market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of the market.
Sulfur Recovery Technology: Key Players
Major players operating in the sulfur recovery technology market are adopting various organic and inorganic growth strategies such as joint ventures, mergers acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- Amec Foster Wheeler
- Praxair, Inc.
- GTC Technology US
- Fluor Corporation
- Royal Dutch Shell Plc.
- The Linde Group
- TechnipSpA
- Worley Parsons Ltd
- Chiyoda Corporation
- KT-kinetics technology SpA
- GTC Technology LLC
- PROSERNAT
- Black Veatch Holding Company
Global Sulfur Recovery Technology Market: Research Scope
Global Sulfur Recovery Technology Market, by Technology
- Claus process
- Tail Gas Treatment
Global Sulfur Recovery Technology Market, by Source
- Oil
- Gas
- Others
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North America to Hold Major Share of Sulfur Recovery Technology Market
- In terms of geography, the sulfur recovery technology market can be segmented into North America, Asia Pacific, Europe, Middle East Africa, and Latin America
- Developed regions exhibit high potential for the global sulfur recovery technology market. North America is expected to be alucrative region over the next few years. The growth is likely to be fuelled by implementation of stringent standards in the oil gas industry in the region.
- Asia Pacific is anticipated to hold significant share during the forecast period. The largest exporter of sulfur on a global scale is Canada, while China is a significant market for sulfur. China plays a crucial role in the global market and has been importing sulfur to meet the needs of various industry verticals.
- The market in Middle East Africa is expected to grow at a substantial rate. Latin America is expected to be an increasingly attractive region of the sulfur recovery technology market during forecast period.
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