Sulphur Recovery Technology Market to Suffer Slight Decline in 2020, Efforts to

Posted by aliena on December 4th, 2020

The sulphur recovery technology market is expected to display exponential growth with a 13.6% CAGR through the end of the assessment period in 2027. The ongoing coronavirus pandemic has had a severe impact on the global oil & gas processing industry, substantially reducing operations in the sector. This in turn, is likely to reduce the demand for sulphur recovery technologies in the near term. However, the market is likely to recover strongly in the post-pandemic era, owing to very strict emission regulations imposed on the oil & gas industries.

 “Rising worldwide levels of environmental awareness and legislative efforts are providing impetus to the sulphur recovery technology market. End user verticals including power and transport are pushing for reduction of sulphur emissions, thereby driving the global market,” says the FMI analyst.