VALLEY COTTAGE, New York, April 29, 2016 /PRNewswire/ --
Future Market Insights (FMI) delivers key insights on the sulphur recovery technology in its latest report titled, 'Sulphur Recovery Technology Market: Global Industry Analysis and Opportunity Assessment, 2016-2026'. Global sulphur recovery technology market is projected to register a healthy CAGR of 11.5% in terms of value during the forecast period (2016-2026).
On the basis of technology, sulphur recovery technology market has been segmented into Claus Process and Tail Gas treatment. The tail gas treatment technology is projected to grow at a significant CAGR of 11.7% in terms of value during the forecast period.
By source of recovery, sulphur recovery technology market has been segmented into oil, gas, and others (coal gasification). The gas segment is expected to register a CAGR of 11.0% in terms of value over the forecast period. Recovery of sulphur through gas is largest as compared with other sources. This due to the increasing demand for gas and increasing number of gas processing plants in Middle East and Central Asia.
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By capacity, sulphur recovery technology market has been segmented into <100 t/D, 101-200 t/D, 201-300 t/D, and >300 t/D. The <100 t/D segment has been estimated to account for 51.8% value share of the market in 2015. Most refineries opt for low capacity sulphur recovery units, as medium to high capacity sulphur recovery units are capital intensive and require sizeable amount of finances for its operation and maintenance.
Growth of the sulphur recovery technology market is mainly driven by increasing adoption of sulphur recovery technologies by the oil & gas industry and implementation of various stringent environmental regulations. Other trends driving growth include upgrade of existing sulphur recovery units and increasing number partnership between refineries and fertilizer producers. Capital intensiveness of project can act as a restraint to a certain extent for players to venture into big sulphur recovery projects.
Middle East & Africa (MEA) has been estimated to dominate the global sulphur recovery technology market, with over 50% market share in 2015 and is anticipated to remain dominant by 2026 end, followed by Europe. Among all the regions, Americas market is anticipated to register the highest CAGR over 2016-2026, followed by Asia Pacific (APAC). This is mainly attributed to increasing demand from oil & gas industry in Americas and APAC.
Key players in the sulphur recovery technology market include Chiyoda Corporation, Jacobs Engineering Group Inc., Amec Foster Wheeler, Technip SA, Linde AG, WorleyParsons Ltd., Fluor Corporation, KT - Kinetics Technology SpA, GTC Technology US, LLC, PROSERNAT, and Black & Veatch Holding Company.
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These companies are executing number of projects that also includes sulphur recovery technology. For example, on 23 February 2016, the Jacobs Engineering Group completed its Chuandongbei Project, an onshore gas project, in southwest China. The project involved use of Jacobs' Comprimo Sulfur Solutions technology.
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SOURCE Future Market Insights