Flue Gas Desulfurization Market is Expected to Register a High CAGR in the Forecast Period
According to TechSci Research
report, “Flue Gas Desulfurization - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018–2028F”, the market expansion is anticipated
to be fueled by the implementation of strict air quality requirements to lower
SOx emission levels, over the forecast period,. Expanding electricity
consumption and large financial investments in thermal power facilities in Asia
Pacific nations are anticipated to spur market expansion. Additionally, it is
predicted that over the course of the projection period, the demand for the
product would increase due to the existence of strict emission rules as well as
the rising need for FGD systems in countries like India, Indonesia, Vietnam,
and South Africa.
The
global flue gas desulfurization market is segmented based on type, end user, and
installation. Based on type, the market is segmented into wet FGD systems, spray
dry FGD system, dry & semi-dry FGD systems. Wet FGD systems have SOx
removal efficiencies of more than 90%, while dry FGD systems have SOx removal
efficiencies of about 80%. Wet systems make up more than 85% of all FGD systems
used due to their reduced reagent and operational costs, greater fuel
flexibility, and potential for by-product usage. These systems have the
capacity to remove oxidized mercury and could offer removal efficiencies of up
to 99%. The entire capital costs of wet FGD systems are increased by the need
for wastewater treatment, wet stacks, and alloys or coatings to defend against
chloride. On the other hand, due to their easy useable feature, less
complicated waste disposal, and need for less water, dry FGD systems have much
reduced initial and yearly expenditures.
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Additionally, dry FGD systems are therefore expected to
see the fastest CAGR during the projection period. In the United States, mining
applications, waste stabilization/solidification, structural fills/embankments,
and soil modification/stabilization were the main markets for dry FGD
by-products. The main applications for dry FGD by-products in Europe were reclamation
and restoration, structural fill, and infill. Owing to which, opportunities for
FGD manufacturers are anticipated to arise due to the expanding demand for FGD
by-products in the construction and agricultural sectors.
Based on end user, the market is segmented into power
generation, cement, chemical, iron and steel, and others. The power generation
end-use segment is likely to continue to dominate the global flue gas
desulfurization system market. Coal-fired power plants are the main source of Sulphur
pollution since they burn coals with a high Sulphur content. The power
generating segment has dominance over other end-use industries as a result of
greater power generation. Based on installation, the market is segmented into greenfield
and brown field. According
to International Energy Agency reports, in 2021 coal-fired power generation
reached an all-time high, increasing by 8% and reversing the declining trend
over the past two years. These
were created in China and India alone to a greater than 75% degree. Despite
severe overcapacity in the industry—more than 50% of China's coal-fired power
plants are losing money since they are operating at 50% of their potential—the
number of new power plants being built is increasing due to the ease with which
permits and relaxations are granted. The demand for coal is expected to rise
steadily over the projection period, with Southeast Asia being one of the few
places where the share of coal in the power mix grew in 2018. According to the
global energy monitor, 18.6% of the pipeline projects for coal-fired power
plants would come from Indonesia, Vietnam, Bangladesh, and South Korea. As a
result, the Asia Pacific region is seeing an increase in demand for new FGD
systems.
Key market players in the Global Flue Gas Desulfurization include:
· Alstom S.A
· Andritz AG
· Babcock & Wilcox Enterprises Inc
· Ducon Technologies Inc
· Fujian Longking Co. Ltd
· General Electric Company
· Hamon Corporation
· John Wood Group PLC
· Mitsubishi Hitachi Power Systems Ltd
· Thermax Ltd.
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“Around the world, tones of
materials for flue gas desulfurization are generated each year, out of which,
around half are useful. One of the main factors driving the need for FGD in the
world is the rising power demand brought by rapid urbanization and the global
reliance on coal for energy production. FGD gypsum is being used more
frequently in industries such as water treatment, panel goods, building, cement
manufacturing, agriculture, and glassmaking.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Flue Gas
Desulfurization Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028. Segmented By Type (Wet FGD Systems, Spray Dry FGD System,
Dry & Semi-dry FGD Systems), By End-User Industry (Power Generation,
Cement, Chemical, Iron and Steel, Others), By Installation (Greenfield, Brown
Field), By Region and Competition”, has evaluated the future growth potential of Flue Gas Desulfurization
Market and provides statistics and information on market structure, size,
share, and future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Flue Gas
Desulfurization Market.
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