Home >> Business >> Sulfur Recovery Technology Market Projected To Grow With A CAGR Of 9.0 % By Value From 2018 To 2026 – Credence Research

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

According to the latest report published by Credence Research, Inc. “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.

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.

Sulfur Recovery Technology Market

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.

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

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.

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