Market Overview 2022-2027:
The global flue gas desulfurization market is expected to exhibit a CAGR of 5.17% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Flue gas desulfurization (FGD) is the process of eliminating sulfur compounds from the exhaust emissions of fossil-fueled power plants. It relies on absorbents to remove the sulfur dioxide (SO2) from the flue gas, which is produced by burning coal, oil, natural gas, or wood. It helps reduce air pollution by purifying gases produced during various industrial processes, such as manufacturing cement, glass, paper, iron, steel, and copper. It also assists in preventing acid rain, which is caused by the excessive level of sulfur dioxide (SO2) and nitrogen oxides (NOX) in the air.
Flue Gas Desulfurization Market Trends:
The growing awareness among the masses about the consequences of rising air pollution on health represents one of the key factors driving the market. In addition, governments of several countries are promoting the use of FGD systems to maintain air quality standards, which is contributing to the growth of the market. Besides this, key market players are extensively investing in research and development (R&D) activities to introduce advanced limestone FGD units that are cost-effective and efficient solutions for removing sulfur dioxide (SO2) and dust. In line with this, they are developing enhanced technologies, such as novel integrated desulfurization (NID) and circulating dry scrubbers (CDS), to remove maximum sulfur dioxide (SO2) from flue gas, which is positively influencing the market. Moreover, the increasing demand for electricity, along with the significant investments in thermal power plants across the globe, is propelling the growth of the market. Apart from this, the escalating demand for FGD gypsum in the agriculture industry for improving soil physicochemical properties, controlling soil and nutrient loss, supplementing trace elements for soil, and increasing crop yield is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global flue gas desulfurization market report, along with forecasts for growth at the global, regional, and country level from 2022-2027. Our report has categorized the market based on product type and end-use.
Breakup by Product Type:
- Wet FGD Systems
- Dry and Semi-Dry FGD Systems
Wet FGD systems exhibit a clear dominance in the market due to their lower reagent and operating costs, more fuel flexibility, and significant use of by-products.
Breakup by End Use:
- Power Generation
- Iron and Steel
Presently, the power generation industry dominates the market due to the rising utilization of FGD systems to minimize the adverse effects of sulfur oxides (SO2 and SO3) on the environment.
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Asia Pacific holds the largest market share on account of the rising air pollution across the region.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alstom S.A., Andritz AG, Babcock & Wilcox Enterprises Inc., Chiyoda Corporation, Doosan Lentjes, Ducon Technologies Inc., Fujian Longking Co. Ltd., General Electric Company, Hamon Corporation, Mitsubishi Power Ltd., Rafako S.A. and Thermax Limited.
|Base Year of the Analysis
||Product Type, End Use, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alstom S.A., Andritz AG, Babcock & Wilcox Enterprises Inc., Chiyoda Corporation, Doosan Lentjes, Ducon Technologies Inc., Fujian Longking Co. Ltd., General Electric Company, Hamon Corporation, Mitsubishi Power Ltd., Rafako S.A. and Thermax Limited
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Key Questions Answered in This Report:
- How has the global flue gas desulfurization market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global flue gas desulfurization market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global flue gas desulfurization market and who are the key players?
- What is the degree of competition in the industry?