FLUE GAS DESULFURIZATION (FGD) MARKET ANALYSIS

Flue Gas Desulfurization (FGD) MarketSize and Trends

Market Dynamics

The implementation of environmental laws and restrictions on industrial emissions has been one of the major driving factors for the global flue gas desulfurization market's growth. Furthermore, rising energy consumption around the world has created a strong demand for flue gas desulfurization. All of these factors are thus expected to play a significant part in propelling the global flue gas desulfurization market in the forecast period.

Market Trends

The expensive installation costs of these flue gas desulfurization systems have been one of the most significant barriers to market expansion. Another significant disadvantage is the increased waste disposal expenses associated with desulfurization operations. Rising demand from developing economies such as India and Japan, on the other hand, is expected to strengthen economic opportunities in the forecast period.

Market Outlook

The Asia Pacific flue-gas desulfurization market is expected to witness an increase in demand from the power generation industry as a result of increased restrictions on power output in the region. The power generation industry dominates Asia Pacific, allowing the market for FGD systems to expand. For instance, according to the global energy monitor, new coal plants with a capacity of 74,412 MW were constructed in China and India in 2019, increasing 45.2% from 2018. The chemical industry, as well as the cement and metal smelting industries, are anticipated to grow over the forecast period, providing additional opportunities for flue-gas desulfurization market in Asia Pacific. 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.

The flue gas desulfurization market systems is expected to decline in industrialized nations, such as North America and the Europe region choose to phase out coal in forecast period. Furthermore, growing concern regarding air quality standards, as well as the increased respiratory diseases linked to air pollution, has compelled the North America and the Europe region to seek out greener alternatives, reducing demand for new coal-fired power plants.