Flue Gas Desulfurization Market has slated to Accelerate with a Growing CAGR during the Forecast period 2022-2028

 

Flue Gas Desulfurization Market 

A variety of methods are used in the flue-gas desulfurization (FGD) process to remove sulphur dioxide (SO2) from coal-fired power station flue gases. Flue gases emitted by fossil fuel-burning facilities, particularly coal-burning plants, constituted an environmental and human health risk, prompting the development of flue-gas desulfurization systems. According to the International Energy Agency, coal-fired power plants will provide around 37% of global electricity in March 2021, making them the world's largest source of electricity generation.

Such facilities, on the other hand, are prone to emitting pollutants, notably Sulphur, which harms the environment. As a result, coal-fired power plants utilise flue-gas desulfurization systems. Flue-gas desulfurization systems in a typical coal-fired power station can remove around 95 percent of SO2 from flue gases. Wet flue-gas desulfurization systems are frequently more costly than dry ones. Wet flue-gas desulfurization systems are also less expensive to operate and maintain.

One of the primary driving factors for the worldwide flue gas desulfurization market's growth has been the introduction of environmental regulations and limitations on industrial emissions. Furthermore, increased global energy consumption has produced a considerable need for flue gas desulfurization. As a result, all of these factors are projected to play a major role in boosting the worldwide Flue Gas Desulfurization Market over the forecast period. One of the most important hurdles to market development has been the high installation costs of these flue gas desulfurization devices. Another important downside of desulfurization processes is the higher waste disposal costs. Rising demand from growing economies like India and Japan, on the other hand, is likely to boost economic prospects throughout the projection period.

As a consequence of rising constraints on power production in the area, the Asia Pacific flue-gas desulfurization market is likely to see an increase in demand from the power generation industry. Asia Pacific's power generating industry dominates, allowing the market for FGD systems to grow. According to the global energy monitor, new coal plants with a capacity of 74,412 MW were built in China and India in 2019, representing a 45.2 percent increase over 2018. The chemical, cement, and metal smelting sectors are expected to expand throughout the forecast period, creating further possibilities for the Asia Pacific flue-gas desulfurization market. For instance, in December 2020, according to the global energy monitor, Indonesia, Vietnam, Bangladesh, and South Korea are likely to contribute 18.6% of total coal-fired power plant pipeline projects in the forecast period. As a result, demand for new FGD systems is increasing in Asia Pacific.

Major players operating in the global flue gas desulfurization market include General Electric, Babcock & Wilcox Company, Chiyoda Corp., Mitsubishi Hitachi Power Systems, S.A. HAMON, Carmeuse, Thermax, Fujian Longking Co., Ltd., and Wuhan Kaidi Electric Power Environmental Co., Ltd.

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