San Francisco, California, June 11, 2017: TMR Research has published a new report titled, “Sulfur Recovery Technology Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025.” The global sulfur recovery technology market is chiefly driven by the growing demand for sulfur in metallurgy, medicine, geotechnical investigation, and chemical plants. On account of technological advancements, there have been several innovations with regards to extracting sulfur and making use of this in various industries. This is also going along way in order to drive the growth of the sulphur recovery technology market.
On the other hand, there are a few factors which are hampering the growth of this market including the extraction process which is extremely expensive, thereby making it difficult for new players to invest and become successful in the market against the well-established and large players which have large amounts of money or capital to invest. Another factor which is acting as an obstacle is the growing concerns regarding technical risks which would ultimately result in huge losses to the company, which is discouraging players from adopting new technologies. The impact of this restraint however, is anticipated to reduce as initiatives taken by government bodies will motivate players to extract sulphur.
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On the basis of geography, it is Europe and the Middle East and Africa which are leading in terms of highest revenue contribution on account of the huge amount of sulfur deposits present in these religions. Another factor which is going well for this regions is the presence of huge oil and gas reserves, which increases the chances of sulphur being present. Asia Pacific is also expected to showcase promise of growth as a number of players are eying Asia Pacific in order to detect sulfur and carry out the extraction process by making use of advanced technologies. North America is also expected to be a key market on account of the presence of advanced methods and techniques brought about by players present in the region.