The global sulphur recovery technology market is anticipated at USD 1.3 billion in 2022. Demand is likely to remain high for sulphur recovery technology during the assessment period. this is due to the rapid technological advancement & rapidly growing oil & gas industry garnering USD 4.2 billion in 2033, recording a CAGR of 11.1% from 2023 to 2033. The market is likely to secure USD 1.48 billion in 2023.
| Data Points | Key Statistics |
|---|---|
| Sulphur Recovery Technology Market Size Value in 2023 | USD 1.48 billion |
| Sulphur Recovery Technology Market Forecast Value in 2033 | USD 4.2 billion |
| Global Growth Rate | 11.1% CAGR |
| Forecast Period | 2023 to 2033 |
Key Factors Shaping the Demand Outlook of the Sulphur Recovery Technology Industry :
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| Historical CAGR (2018 to 2022) | 8.7% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 11.1% |
Future Market Insights in its recent study predicts that the sulphur recovery technology market will grow 1.5x its current value during the forecast period owing to increasing demand for modernizing the air treatment and oil and gas facilities along with strict regulations to limit the sulphur dioxide emission exceeding the prescribed limits.
International Maritime Organization enforced its IMO 2020 regulations from 1st January 2020 which restricts the amount of sulphur in ship’s fuel oil to 0.50%. The regulation was implemented across the globe under the complementary International Convention for the Prevention of Pollution from Ships (MARPOL) treaty to decrease the sulphur oxides level in the air and improve the environment and human health.
With the implementation of stringent regulations across the globe regarding sulphur emission as well as sulphur levels in gasoline and other products, a rise in demand for sulphur recovery technological solutions can be expected in forthcoming years.
Shell Inc. recently developed a modern tail gas treating solution technology “CANSOLV TGT+” which captures around 99.99% of the overall sulphur present in a tail gas stream while simplifying the process line-up. The system itself has extremely low sulphur dioxide emission and captures all sulphur particles that are routed towards the incinerator.
DuPont Clean Technologies (DuPont) recently launched an advanced steam plume suppression solution called Sennuba™ plume suppression technology used in sulphur recovery unit applications.
Extensive research and development among leading market players to launch novel tail gas treating technologies to curb sulphur emission will accelerate the sulphur recovery technology market growth.
Gas Sulphur Technology to Capture High Market Share
Increasing activities for exploration and production of shale gas are creating positive prospects, and are boosting demand for sulphur recovery technology units from refineries.
Major gas refining activities in the Middle East, Central Asia, and East Asia are increasing, leading to a rise in the production of recovered sulphur from gas refining activities.
Stringent norms and regulations pertaining to regulations on sulphur are boosting the growth of the sulphur recovery technology market.
Upgradation of Tail Gas Treatment Technology to Propel Market Growth
Increasing occurrences of hydrogen sulphide-rich feed streams influence sulphur recovery unit manufacturers to upgrade and modify their offerings to meet standards that limit the emission of sulphur dioxide.
Hence, most companies are upgrading their tail gas and air treatment technology to capture a significant share of the sulphur recovery technology market.
BASF introduced its new tail gas treatment technology to reduce sulphur content and increase plant efficiency. This technology decreases sulphur emissions from tail gas treatment units and lowers operational expenditure, attributable to the reduced amine circulation rates and reboiler duties.
The Rapid Technological Advances to Boost the Growth of the Sulphur Recovery Technology Market in The United States
The global sulphur recovery technology market is expected to be dominated by North America. The global sulphur recovery technology market is expected to be dominated by North America. The market is anticipated to expand at a CAGR of 11% and is expected to accumulate a market value of USD 3.7 billion over the forecast period. Unites states are expected to account for the largest share of the American region.
The sulphur recovery technology market in North America is mature and well-established, driven by a large refining capacity, abundant natural gas production, and stringent environmental regulations. The region's focus on reducing sulphur emissions and producing low-sulphur fuels creates a significant demand for sulphur recovery technologies. The strong presence of major market players in the United States and Canada provides significant opportunities for market growth.
Growing Petrochemical Industry in the Region to Boost the Growth of the Market
The sulphur recovery technology sales in the United Kingdom are expected to keep rising with a CAGR of 10.9% and are expected to gain a market value of USD 3.7 billion by the end of the forecast period.
The sulphur recovery technology market in Europe is driven by stringent environmental regulations and efforts to reduce sulphur emissions. The refining and petrochemical industries in Europe extensively utilize sulphur recovery technologies to comply with emissions standards and produce cleaner fuels. European countries like Germany, the United Kingdom, France, and Italy have a notable presence in the sulphur recovery technology market
Growing Environmental Regulation to Drive the Growth of the Market in Asia Pacific.
China’s sulphur recovery technology market is expected to rise at 11.1% CAGR between 2023 to 2033. The market is expected to gain a market value of USD 3.9 billion by the end of the forecast period. The sulphur recovery technologies are driven by increasing industrial activities, economic development, and environmental regulations.
Countries such as China, India, Japan, South Korea, and Indonesia are major contributors to the market's growth due to their large refining capacities, expanding petrochemical industries, and growing demand for cleaner fuels. The region's abundant sulphur resources and rising energy consumption further fuel the demand for sulphur recovery technologies.
Tail Gas Treatment Segment to Remain Prominent During the Forecast Period
By technology, the sulphur recovery technology market segment includes the Claus process and tail gas treatment. Among these, the tail gas treatment segment is expected to dominate the market in the forecast period. The segment is projected to account for a CAGR of 10.8% during the forecast period.
The treatment of tail gas is crucial for environmental compliance. The tail gas treatment process allows for the further conversion of the remaining H2S in the tail gas into elemental sulfur, increasing the overall sulfur recovery efficiency.
Oil Segment Generates High Revenue
Based on the source of recovery, the market is segmented into oil, gas and other segments. Among all these oil segments remains the application category is expected to expand with a CAGR of 10.7% throughout the forecast period.
Increasing demand for oil in the whole world and oil most amount of sulphur is found so sulphur recovery technologies are required more in the case of Oil. The segment is expected to account for a 50% share of the market during the forecast period.
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Some of the startup players and their recent development in the Sulphur Recovery Technology market are listed below-
Key participants in the sulphur recovery technology market include Bechtel Corporation, Linde AG, Royal Dutch Shell Plc, Exxon Mobil, Jacobs Engineering Group Inc, Technip FMC plc CB&I, Chiyoda Corporation, Worley Parsons Ltd, GTC Technology, and KT-Kinetics Technology SpA.
The global sulphur recovery technology market is characterized as fragmented, on account of the presence of numerous international as well as regional players in the sulphur recovery technology market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 11.1% from 2023 to 2033 |
| Market Value in 2023 | USD 1.48 billion |
| Market Value in 2033 | USD 4.2 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Technology Type, Source of Recovery, Capacity Type, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Bechtel Corporation; Linde AG; Royal Dutch Shell Plc; Exxon Mobil; Jacobs Engineering Group Inc; Technip FMC plc CB&I; Chiyoda Corporation; Worley Parsons Ltd; GTC Technology; KT-Kinetics Technology SpA. |
The market will register an 11.1% CAGR through 2033.
Strict environmental rules and advances in crude oil production drive market expansion.
From 2018 to 2022, the market expanded at an 8.7% CAGR.
The United States will expand at an 11% CAGR until 2033.
By 2033, the market will reach USD 4.2 billion.
| Market Estimated Size (2023E) | USD 228.7 million |
|---|---|
| Projected Market Valuation (2033F) | USD 363.4 million |
| Value-based CAGR (2023 to 2033) | 4.7% |
| Market Value (2023) | USD 288.37 Million |
|---|---|
| Market Value (2033) | USD 487.93 Million |
| Market CAGR (2023 to 2033) | 5.4% |
| Estimated Market Value of Market in 2022 | USD 1,050.2 Million |
|---|---|
| Projected Market Size in 2032 | USD 1,453.0 Million |
| Value CAGR (2022 to 2032) | 3.3% |
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Sulphur Recovery Technology Market
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