The global sulfur recovery technology market is expected to witness significant growth over the forecast period. Sulfur is widely used in petroleum industries as it helps in gaining traction across various industry segments. In the current scenario, sulfur is recovered as a by-product of the oil & gas industry followed by coal gasification. Sulfur recovery is a process of harnessing sulfur from hydrogen sulfide. It ranks for its large volume and ready availability and as the most abundant element in the world. Its end-use application is sought in fertilizers, rubber, cosmetics, and pharmaceutical industries. It needs to be eliminated during the coal gasification & extraction process in order to avoid catalyst poisoning & prevent fouling.
It is estimated that the world population is about to double in the next decade which will eventually lead to an increase in food demand. Therefore, the soil is required to be many nutrients in order to serve the food demands in the near future. Sulfur is one of the most significant nutrients for plants, which means, deficiency of sulfur in plants will directly affect the crop yield. Therefore, sulfur removal technologies need to be undertaken with sincere concerns in order to ensure sustainability.
The driving factor responsible for the growth of the sulfur recovery technologies market includes the growing demand for sulfur across various industry verticals. Additionally, growth in end-use industries is contributing to the growth of sulfur recovery technology. Growth opportunities in farm fertilizer and mining sectors are also adding to the growth of the market. However, a huge gap in demand and supply limits the market growth plus slowing demand for sulfur in developed countries is another market restraint.
On the basis of technology, the global sulfur recovery technology market is segmented into claus process and tail gas treatment. On the basis of source, the global sulfur technology market is segmented into oil, gas, and others. On the basis of capacity, the global sulfur technologies market is segmented into <100 t/D>101-200t/D, 201-300t/D, >300t/D. On the basis of geographic segmentation, the global sulfur technologies market spans North America, Europe, Asia-Pacific, and the Middle East and Africa.
APAC regions are anticipated to have a higher CAGR growth during the forecast period followed by North America. 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 world market and has been importing sulfur to meet the needs of various industry verticals. The Middle East and African regions are expected to grow at a substantial rate. The major oil fields have been operating in Canada, Russia, and the Middle East and Africa.
The key players in the global sulfur recovery technology market include Jacobs engineering group Inc, Amec Foster Wheeler, Technip SA, Linde AG, WorleyParsons Ltd, Chiyoda Corporation, Fluor Corporation, KT-kinetics technology SpA, GTC Technology LLC, PROSERNAT, and Black & Veatch holding company.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."