Global Flue Gas Desulfurization System Market Grows Steadily at a CAGR of 3.9%

Introduction

FGD is a collection of technologies that remove sulfur dioxide from exhaust combustion gases in sulfur oxide-emitting processes, such as coal-fired boilers, paper and pulp facilities, diesel generators, oil-fired boilers, and waste incinerators. Absorbents remove sulfur dioxide (SO2) from flue gas produced by coal, oil, natural gas, or biomass combustion. The integrity of outdoor air must be maintained to shield people from the damaging health effects of toxic pollutants. Therefore, FGD systems restrict the release of SO2 and other gaseous pollutants. It reduces air pollution by purifying vapors produced by various industrial processes, including cement, glass, paper, iron, steel, and copper.

Market Dynamics

Rising Focus to Combat Air Pollution Drives the Global Market

According to the World Health Organization (WHO), most of the world's population is likely exposed to unsafe air, and four to five million people perish annually due to air pollution-related health problems. This has increased the demand for FGD systems as the need to enhance air quality has increased. In addition, China and India, both extremely populated nations, are recognized as the leading contributors to the rise in air pollution. However, both nations are transferring their focus to air pollution control. For instance, India launched the National Clean Air Program (NCAP) in January 2019, which provides a road map for preventing, controlling, and reducing air pollution. Therefore, a greater emphasis on reducing pollution is anticipated to increase demand for flue gas desulfurization systems, propelling the market for these systems.

Rising Technological Advancements Creates Tremendous Opportunities

The demand for FGD systems products has increased due to technological developments by GE Power, Thermax, SA HAMON, MHPS, and others. For instance, Carmeuse developed two new technologies, Novel Integrated Desulfurization (NID) and Circulating Dry Scrubbers (CDS), capable of removing 98% of SO2 from 2.5% sulfur lignite. These technologies recycle SO2 from flue gas sequentially using regenerable aqueous amine-based solvents. Such technological advances are anticipated to provide manufacturers with lucrative opportunities.

In addition, introducing multi-pollutant control is anticipated to accelerate market expansion soon. Lextran Ltd., based in Israel, developed a catalytic, regenerative wet scrubbing procedure that eliminates SOx and NOx from flue gas. The increase in air pollution and carbon emissions paves the way for FGD systems that are energy-efficient and environmentally favorable, thereby reducing environmental degradation.

Regional Analysis

Asia-Pacific is the most significant global flue gas desulfurization system market shareholder and is estimated to exhibit a CAGR of 4.21% during the forecast period. The most populous countries in the Asia-Pacific region are India and China, which is a major factor in this region's increased demand for food, electricity, oil, gas, and other resources. Therefore, the increase in the installation of oil and gas processing plants, food processing plants, and others in the region has resulted in increased air pollution, which has further fueled the demand for extremely reliable and efficient flue gas desulfurization systems to prevent these plants from producing polluted and contaminated air. In addition, according to the International Energy Agency (IEA), China will surpass the United States in crude consumption by 2030. The business growth of flue gas desulfurization systems is anticipated to be bolstered by varying rules and regulations imposed by governments in various nations.

Europe is projected to grow at a CAGR of 3.1% over the forecast period. The market growth for flue gas desulfurization systems in Europe is driven by the government's implementation of various laws and regulations to control air pollution. For instance, in May 2017, the French government issued national objectives such as the National Air Pollutant Emission Reduction Plan to control industrial emissions of sulfur dioxide, ammonia, and other fine particles. These factors are anticipated to stimulate market expansion. In addition, according to the European Environment Agency's (EEA) "Air Quality in Europe — 2018 Report," the primary producers of air pollution in Europe are the energy, transportation, and agriculture sectors. In order to preserve the ecological balance, industrial centers have been concentrating on wet and dry scrubbers to eliminate flue gas pollutants. These factors are anticipated to drive the industrial adoption of flue gas desulfurization systems.

Key Highlights

• The global flue gas desulfurization system market was valued at USD 20.81 billion in 2022. It is estimated to reach USD 29.36 billion by 2031, growing at a CAGR of 3.9% during the forecast period (2023–2031).
• Based on technology, the global flue gas desulfurization system market is bifurcated into wet FGD systems, spray dry FGD systems, and dry FGD systems. The wet FGD systems segment dominates the global market and is projected to exhibit a CAGR of 4.8% over the forecast period.
• Based on application, the global flue gas desulfurization system market is segmented into power plants, cement, metal processing and mining, manufacturing, and chemicals. The power plants segment owns the highest market share and is estimated to exhibit a CAGR of 4.1% during the forecast period.
• Asia-Pacific is the most significant global flue gas desulfurization system market shareholder and is estimated to exhibit a CAGR of 4.21% during the forecast period.

Competitive Players

1.  Babcock & Wilcox Enterprises Inc.
2. GE Power
3. GEA Group Aktiengesellschaft
4. Mitsubishi Hitachi Power Systems Ltd
5. S.A. HAMON
6. Thermax Ltd
7. Carmeuse
8. KraftPowercon
9. Koch-Glitsch
10. ANDRUTZ AG.

Recent Developments

Recent Developments

• August 2022- Power Mech Projects Limited (PMPL), a Hyderabad-based construction and services provider with a diverse portfolio, received a record order for five Flue Gas Desulphurization (FGD) projects worth a total of Rs 6,163.20 Crores. The orders are for fifteen FGD retrofits to coal-based units spanning from 330 MW to 660 MW.
• March 2022- Tata Projects, one of India's most admired and fastest-growing industrial infrastructure companies, finished the third chimney (chimney 5) at Odisha's Talcher Flue Gas Desulfurization project. Against all odds, the casting and slipping of the Chimney 5 exterior was completed.

Segmentation

1. By Technology
   1. Wet FGD Systems
   2. Spray Dry FGD System
   3. Dry FGD System
2. By Applications
   1. Power Plants
   2. Chemicals
   3. Cement
   4. Metal Processing and Mining
   5. Manufacturing