An Incisive, In-depth Analysis on the Sulphur Recovery Technology Market
This study offers a comprehensive, 360 degree analysis on the Sulphur Recovery Technology market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Sulphur Recovery Technology market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Sulphur Recovery Technology-Market Definition
Sulphur recovery technology is used in the conversion of hydrogen sulphide (H2S) to elemental sulphur. Hydrogen sulphide is one of the major by-products of processing high sulphur crude oil and natural gas. Increasing focus on regulations to reduce the levels of sulphur in products and lower sulphur emissions has, in turn, resulted in an increase in the demand for the deployment of sulphur recovery technology. Sulphur recovery technology are mainly based on two processes: Claus and tail gas treatment process. Claus Process type of sulphur recovery technology is the most widely used process for conversion of H2S to elemental sulphur, with 95–98% of recovery of sulphur. Due to limitation of amount of H2S processed, the process was improved, through addition of free-flame oxidation ahead of the catalyst bed and revision of the catalytic step. This ‘Modified Claus Process’ greatly increased sulphur yield and is the basis of most Sulfur Recovery Units (SRU). Tail Gas Treatment process type of sulphur recovery technology is used extensively to enhance efficiency of sulphur recovery process up to 99.99%. which converts small amounts of sulphur compounds (<5%), which were not converted in the sulphur recovery unit (SRU), into hydrogen sulfide (H2S) and recycles it back to the SRU for additional processing. The sulphur recovery technology market sales has been based on two operating business models: via Direct Sales, i.e. from sulphur recovery technology equipment manufacturers and providers to end users as well as fromRental equipment providers of sulphur recovery technology and EPC (engineering procurement and construction) companies also involved in providing sulphur recovery technology to end users.
Factors Influencing the Growth of the Global Sulphur Recovery Technology Market-Oil & Gas sector considered to drive primarily the sulphur recovery technology market across the globe
The growth of the global sulphur recovery technology market depends upon growing awareness to reduce greenhouse gas emissions, power plant efficiency enhancement, adoption and installation of new co-generation power plants, and regional investments, thus imbibing the sulphur recovery technology as well as the scope of repair and maintenance of existing units involving sulphur recovery technology market. The growth of the global sulphur recovery technology market would be aided by the growth in the oil and gas sector with the addition of new refinery units. The increasing number of refineries projects across the world will create an immense opportunity for sulphur recovery manufacturers to install their unit in the respective plants of end users. For instance, in North America, additional refinery project construction is expected to increase demand for domestic heavy crude which in turn will create an opportunity for sulphur recovery technology market. Overall in the oil and gas sector, the oil and gas production in existing refineries is considered to have a greater influence to the growth and development global sulphur recovery technology market as compared to that of new refinery bases.
The growth of the global sulphur recovery technology Market is also expected to be aided by other end use industry sectors such as fertilizer, petrochemical automation and mining. The increasing rate of urbanization is another factor which is attributed to the growth of the Global Sulphur Recovery Technology Market. By end use, the subsequently increasing partnerships between refineries and fertilizer producers & modifications to enhance sulphur recovery technology is also expected to generate substantial amount of business with respect to sales of sulphur recovery technology market. Additionally, with stringent regulations related to hydrogen di-sulphide (H2S) emissions, the growth of the global sulphur recovery technology market is expected to pick up significantly during the forecast period.
Global Sulphur Recovery Technology Market Regional Outlook- Developed and developing regions of the globe having an established base of oil and gas refineries to facilitate favourable growth of sulphur recovery technology market
The global growth of the sulphur recovery technology market is likely to gain from regions such as the Americas (consisting of the prominent countries based in North and Latin America), the Middle East & Africa, and Asia Pacific, owing to increased instalments of greenfield projects as well as augmentation of production capacities in existing refineries, thereby calling for an increased demand for sulphur recovery technology during the forecast period. The global sulphur recovery technology market has been understood to be a high value high growth market.
Global Sulphur Recovery Technology Market Segmentation and Forecasts- Claus Process as well as Tail Gas Treatment types of Sulphur Recovery Technology to have a fair share of preference
On the basis of technology, the Claus process and tail gas treatment process types of Sulphur recovery technology are expected to experience robust growth, individually, over the forecast period, with similar growth rates. Superior sulphur recovery efficiency and operation is said to be the pivotal factor behind the high growth of these types of sulphur recovery technology. Currently, the gas refinery segment of sulphur recovery technology market analysis by source type has been the dominant segment. However, the oilfield refinery is expected to be the prominent segment of sulphur recovery technology estimated to record maximum growth during the forecast period. Other sources of recovery for the sulphur recovery technology market are also anticipated to grow at a decent rate during the forecast period. In terms of market analysis of sulphur recovery technology by capacity, the 201-300 tons/ day capacity segment is expected to expand at a CAGR of over 15% between 2017 and 2027. The segment has a high CAGR index as compared to other segments of sulphur recovery technology, indicating stable and sustained growth prospects in the current as well as forecast period. The global sulphur recovery technology market is expected to be valued at US$ 1.5 Bn by the end of the forecast period.
Leading Market Participants in the Global Sulphur Recovery Technology Market focused towards consolidation of business operations
Some of the market participants involved in the manufacturing and sales of sulphur recovery technology include Royal Dutch Shell plc, Exxon Mobil, Bechtel Corporation, Fluor Corporation, Linde AG, TechnipFMC plc, Jacobs Engineering Group Inc, CB&I, and Chiyoda Corporation. The global sulphur recovery technology market is governed by tier-1, tier-2, and tier-3 level companies, having their presence in global and regional markets. Tier-1 and tier-2 level companies, together, have a major share in the global sulphur recovery technology market by value. Market penetration in untapped regions coupled with expansion of existing bases has been the pivotal strategy of sulphur recovery technology providers in fortifying their respective market share. Major players involved in the sulphur recovery technology market are emphasizing on acquisitions, partnerships, collaborations & expansions in order to enhance their operational efficiency. Also, strategic collaboration and joint venture will improve sales & distribution network of sulphur recovery technology providers, which is expected to gain momentum during forecast period for the sulphur recovery technology providers to consolidate their business operations in an optimal manner. Additionally, the innovation and product development strategies adopted by sulphur recovery technology providers their product offering are expected to continue over the forecast period. Few notable cases to support the above mentioned market developments and key strategies by leading sulphur recovery technology providers are the following:
In October 2017, leading sulphur recovery technology provider John Wood Group Plc completed the acquisition of Amec Foster Wheeler. This acquisition will help the company expand their geographical presence and product portfolio
In January 2013, Bechtel acquired Chevron’s wastewater treatment technology. The advocated sulphur recovery technology allows debottlenecking of sulfur plants and reduce the cost of new sulfur units especially in the refineries that produce high nitrogen crudes
This FMI study offers a ten-year analysis and forecast of the global sulphur recovery technology market between 2017 and 2027. The study on sulphur recovery technology market considers 2016 as the base year, with sulphur recovery technology market values estimated for the year 2016, and a forecast developed for the duration of 2017 to 2027. Compound Average Growth Rate (CAGR) is represented from 2017 to 2027. The study covers various perspectives of the sulphur recovery technology market, including market dynamics of sulphur recovery technology, associated macroeconomic factors with industry analysis of oil and gas, pricing analysis, and competitive landscape, along with segment level projections in a comprehensive manner.
The global sulphur recovery technology market size has been provided by value in US$ Mn and volume sales in no. of units. Sulphur recovery technology is primarily employed by two types of processes: a) by Claus Process b) by Tail Gas Treatment. The research study on the sulphur recovery technology market focuses on the potential market size and growth with respect to the two process, and the equipment associated with each of these processes. The sulphur recovery technology market is considered to be driven mainly demand from oil and gas refineries, where sulphur gas recovery technology is critical to their core operations related to products achieved from distillation. Sulphur recovery technology has come into a stronger effect, owing to stringent emission regulations with respect to hydrogen di-sulphide (H2S), which is deemed as hazardous to human health and the operating environment of oil refineries. With the existing refinery operations base and installation of new operating facilities in the forthcoming period, the global sulphur recovery technology market is poised to experience robust growth during the forecast period of the research report. As per the findings of the study and perspectives of industry participants, the global sulphur recovery technology market is projected to grow on at a healthy rate, recording a CAGR over 12% between 2017 and 2027 in terms of value. Sulphur recovery technology providers as well as end users have been regularly focusing on system designs in order to achieve a better operating model of sulphur recovery technology, ensuring the reduced emissions of sulphur.
The Future Market Insights report on sulphur recovery technology carefully analyses the sulphur recovery technology market on a global and regional level through market segmentation on the basis of key parameters such as technology, source of recovery, capacity, and region. The primary objective of the global sulphur recovery technology market report is to offer key insights on market scenarios and updates, technology roadmap with chronological developments, competition positioning, current trends, market potential, growth rates, and other relevant information and statistics in a suitable manner to the readers or various stakeholders of the market.
The report on the sulphur recovery technology market is structured to facilitate the reader to develop a thorough understanding about the market. It begins with a market overview of sulphur recovery technology with a summary of key findings of the research and market definitions, followed by the market background, associated end user market demand scenario, wheel of fortune indicating a summary of the growth stages associated with each segment, market dynamics including external macroeconomic factors, and its implications on the market, supply chain, pricing analysis by technology, and sulphur recovery technology market analysis by global and regional levels, as well as competition analysis including assessment of leading players, i.e. equipment manufacturers in the overall sulphur recovery technology market. The sulphur recovery technology market analysis has been done by key segments, and the figures have been provided separately in terms of value (US$ Mn) and sales volume in units. Each section covers a qualitative and quantitative assessment of the sulphur recovery technology market on the basis of facts, historical developments, projected growth, and key opinions collected from industry participants through dedicated interviews and trends in the sulphur recovery technology market.
Sulphur Recovery Technology – Market Segmentation
Source of Recovery
The report on the global sulphur recovery technology market begins with a market introduction, defining the market taxonomy and product definitions with a working principle explained in detail regarding each sulphur recovery technology. In the next section, the report describes the market development background, covering macro-economic factors, industry factors, forecast factors, regional weighted average pricing analysis for the base year, and supply chain overview of the sulphur recovery technology market.
The next section of the sulphur recovery technology market report discusses market dynamics such as drivers (supply and demand side), restraints, and trends, as well as forecast factors impacting the market growth on a global level. Market opportunities or the potential for manufacturers have been presented in the subsequent section of the same chapter. This section also includes the impact assessment of market dynamics on the global sulphur recovery technology market on a qualitative level based on analysis facts and insights.
Subsequent sections of the sulphur recovery technology report provide value (US$ Mn) and volume (New Sales in Units) projections for the sulphur recovery technology market on the basis of the aforementioned segments on a global level. The global market values represented in these section have been agglomerated by collecting data and information on a regional level. The sulphur recovery technology market information, along with key facts and insights, cover unique analysis frameworks such as absolute $ opportunity analysis, year-on-year growth trend comparison, market share, and attractiveness analysis for each of the sub-types covered in each segment.
The next section of the sulphur recovery technology report presents asummarisedview of the global sulphur recovery technology market, based on seven prominent regions considered in the study. The section includes regional market position, growth potential, trends, and market attractiveness analysis for each of these regions.
The sulphur recovery market analysis sections cover regional trends, weighted average pricing analysis, and market projections for each segment, including Y-o-Y growth trends, market share analysis, market attractiveness, and incremental $ opportunity assessment. These sectionsanalysethe degree at which the global drivers are influencing this market in each region.
All the above sections evaluate the present market scenario and growth prospects in the global sulphur recovery technology market, while the forecast presented in the sections assesses the market size in terms of volume sales and value.
In order to offer an accurate forecast, FMI started by sizing the current sulphur recovery technology market (2016), which forms the basis of how the global sulphur recovery technology market is expected to develop in the future for the period (2017-2027). Given the characteristics of the sulphur recovery technology market, we triangulated the outcome of three different types of analysis, based on primary research, secondary research, and our own analysis. However, forecasting the market in terms of various segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecast exercise.
In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the sulphur recovery technology market, and identify the right opportunities available.
As previously highlighted, the sulphur recovery technology market is split into a number of sub-segments, particularly by region, where all the sub-segments have been analysed on the basis of Basis Point Share (BPS) to understand each individual segment’s relative contribution to the market growth. This detailed level of information is important for the identification of various key trends witnessed in the sulphur recovery technology market.
Another key feature of this report is the analysis of all the key segments in the sulphur recovery technology market, sub-segments, and the regional adoption and revenue forecast in terms of absolute dollar opportunity. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources and earnings from a sales and delivery perspective in the sulphur recovery technology market. This analysis is provided by individual product segments by technology, source of recovery, and capacity, as well as opportunity analysis by prominent countries of the designated geographical regions.
In order to understand the key market segments in terms of the growth and installation of sulphur recovery technology across concerned regions, Future Market Insights has developed a sulphur recovery technology market attractiveness index, which will help providers identify real market opportunities.
In the final section of the sulphur recovery technology report, a competitive landscape of the sulphur recovery technology market is included to provide report audiences with a summarized view in the form of a dashboard, which has been categorized on the basis of a technology provider’s level of presence in the sulphur recovery technology market, scale of product innovation, and key differentiating factors and strategies. The report also identifies the nature of the market by identifying the competitors present in the market on the basis of their business operation levels, i.e. by tier-1 sulphur recovery technology manufacturers and others. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the sulphur recovery technology market. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors on the basis of an in-depth assessment of their capabilities and reputation in the sulphur recovery technology marketplace. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, and recent developments in the sulphur recovery technology market. Key competitors covered in the report include Royal Dutch Shell plc, Exxon Mobil, Bechtel Corporation, Fluor Corporation, Linde AG, TechnipFMC plc, Jacobs Engineering Group Inc, CB&I, and Chiyoda Corporation.
The sulphur recovery technology market report concludes by highlighting the research methodology employed in deriving the estimated sulphur recovery technology market figures with a related approach and the types of data sources referred.
Sulphur Recovery Technology Market Reports - Table of Contents
5. Forecast Factors: Relevance and Impact
15. Research Methodology
16. Assumptions & Acronyms Used