In the last couple of years, petroleum industries have gained substantial momentum in their sales revenue as a result of the increasing demand for sulphur from diverse industrial segments. Reports suggest that over 97% of the sulphur today is recovered from the oil and gas industry as a by-product. Sulphur recovery has thus become a widely used process of harnessing sulphur from hydrogen sulphide (H2S). Sulphur is considered the 16th most abundantly available element in the world, constituting 3% of the earth’s overall mass. Its application has significantly increased in pharmaceutical, fertilizers, cosmetics, and rubber industries, which has in turn created significant scope for the deployment of the sulphur recovery technology.
Browse the full Global Sulphur Recovery Technology Market Report:http://www.mrrse.com/sulphur-recovery-technology-market
Regulations Implemented to Curb Sulphur Emission to fuel Demand for Sulphur Recovery Technology
With governments around the world focusing on reducing sulphur contents in manufactured products and the implementation of regulations to curb sulphur emission, the deployment of sulphur recovery technologies is expected to increase further. The technology is primarily based on two processes: Tail and Claus gas treatment process.
Besides stringent environmental regulations, the increasing oil and gas exploration activities have augmented the growth shown by the global sulphur recovery technology market. The proliferating gas processing plants and refineries across Asia and the Middle East market have driven the demand for sulphur recovery technologies as well. In 2015, the Middle East and Africa emerged as the largest market for sulphur recovery technology in the world.
As partnership between refineries and fertilizers producers increase, the market will witness more modifications in the existing sulphur recovery technologies. Besides this, with refineries adopting specialized Trail gas treatment recovery process, the yield from sulphur recovery is projected to enhance in the coming years.
Economy of China Market to be a Major Determinant of Growth of Global Sulphur Recovery Technology Market
Canada enjoys dominance as the largest exporter of sulphur in the world. China however is the largest market for the same. The enterprises operating in the market also see lucrative opportunities in countries such as the U.S., India, Brazil, and Morocco. As per the current scenario, the global sulphur production, largely depends on China’s economy. The country has been importing sulphur since 1990 to meet demand across various industry verticals.
Browse the full Press Release of Global Sulphur Recovery Technology Market at :http://www.mrrse.com/global-sulphur-recovery-technology-market
Due to the current gap between demand and supply, the market seems to be in doldrums. Furthermore, the market is likely to witness high production of sulphur in excess of the existing demand owing to the presence of major oil and gas fields operating across Russia, Canada, and the MEA. This could lead to the declining sulphur price, which foretells a gloomy prospect for the sulphur recovery technology market. However, this downward trend will not be a long-term phenomenon and the market is expected to witness lucrative opportunities in rubber and agricultural sector.
In addition, with considerable growth potential in the fertilizer, mining, and automation sectors, the future of the global sulpher recovery technology market seems promising. According to the latest research, the market in APAC is expected to see high CAGR between 2016 and 2026. Besides this, North America and MENA are also expected to provide lucrative opportunities for the growth of the sulphur recovery technology market.