According to our latest market study on “Global Flue Gas Desulfurization Market Forecast to 2027 – Covid-19 Impact and Global Analysis – By Type (Dry FGD and Wet FGD), and Application (Power Generation, Chemical, Iron and Steel, Cement Manufacturing, and Others),” the market was valued at US$ 18,128.01 million in 2019 and is projected to reach US$ 27,655.04 million by 2027; it is expected to grow at a CAGR of 5.6% from 2020to 2027.
Increasing demand from power and energy sector to escalate Flue Gas Desulfurization Market Growth.
Chiyoda Corporation, Ducon, General Electric, S.A Hamon, Mitsubishi Heavy Industries, Ltd., Rafako S.A, Valmet, Doosan Lentjes, Babcock and Wilcox Enterprises, Inc. and Marsulex Environmental Technologies are among the well-established players in the global flue gas desulfurization market.
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Flue gas desulfurization is a system that has a set of technologies that is used in order to remove sulphur dioxide (SO2) from the flue gases which have been emitted by the power plants. The system helps in reducing down the levels of sulphur dioxide and other greenhouse gas emission. The stringent environmental regulations are mostly focusing on controlling the excessive sulphur dioxide emissions is going to increase the demand for flue gas desulfurization system. The demand for flue gas desulfurization is rising across diversified end use industries. Further, rapid industrialization and strategic initiative taken by the manufacturers is expected to proliferate the growth of the market. Additionally, technological advancements in design of FGD systems is expected to provide better opportunities for market growth.
Power facilities are the most extensive generators of SO2, which may cause acid rain. Sulfur is one well-known element found in coal. When combusted, the sulfur in coal converts into sulfur dioxide. When sulfur dioxide combines with moisture in clouds, it forms acid rain. Adding sodium-based exhaust gases lessens SO2 emissions by 98%. In the FGD systems, reductions of the discharges by the amount of 98% have become the most common type of technology used in bituminous and coal-fired power plants. According to the International Energy Agency, the coal-fired power plants produce about 37% of the globe’s electricity, making them the largest single electricity generation source worldwide. However, such plants are bound to release pollutants, especially sulfur, which deteriorates the quality of environment. Sulfur dioxide is usually formed by combusting fossil fuels and by the smelting of mineral ores that contain sulfur. When sulfur dioxide mixes with water and air, it produces sulfuric acid, which is the chief component of acid rain. Acid rain can cause deforestation, corrode building materials and paints, and acidify waterways to harm aquatic life. Therefore, the government has proposed stringent policies to control emissions of particulate matter (PM), sulphur dioxide, nitrogen oxides, and mercury by coal-based thermal power plants. The new rules are expected to cut sulphur dioxide emissions by 90%, PM emissions by 25%, nitrogen oxides by 70%, and mercury by 75% from new thermal plants. The growing focus towards reducing the pollutants arising from power generation sector has significantly driven the demand for setting up flue gas desulphurization systems.
Impact of COVID-19 Pandemic on Flue Gas Desulfurization Market
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of December 2020, US, Brazil, India, Russia, Spain and UK are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverage is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. For instance, China is the global hub of manufacturing and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various materials. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the industries in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.
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The report includes the segmentation of the global Flue gas desulfurization market as follows:
Global Flue Gas Desulfurization Market, by Type
- Dry FGD
- Wet FGD
Global Flue Gas Desulfurization Market, by Application
- Power Generation
- Iron and Steel
- Cement Manufacturing
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