In 2019, the global flue gas desulfurization market was valued at approximately US$ 18,128.01 million and is anticipated to grow to around US$ 27,655.04 million by 2027, reflecting a compound annual growth rate (CAGR) of 5.6% from 2020 to 2027.
Flue gas desulfurization (FGD) refers to a collection of technologies designed to eliminate sulfur dioxide (SO2) from the exhaust gases produced by power plants. This system plays a crucial role in lowering sulfur dioxide emissions and mitigating other greenhouse gases. The increasing stringency of environmental regulations aimed at curbing excessive sulfur dioxide emissions is driving the demand for flue gas desulfurization systems. The rising need for FGD solutions spans various end-use sectors, and the rapid industrialization and strategic initiatives by manufacturers are expected to further propel market growth.
The flue gas desulfurization market is divided into two main types: Dry FGD and Wet FGD. In 2019, the Dry FGD segment dominated the market, showcasing the highest CAGR. Dry flue gas desulfurization technology encompasses several methods where SOx interacts with limestone particles in a moist environment to produce sulfite. The processes involved in Dry FGD include furnace or duct sorbent injection utilizing sodium or calcium-based reagents, as well as the spray dryer absorber (SDA) technology, which employs slaked lime or limestone as a reagent. The SDA system features a central gas disperser and a roof gas disperser to distribute flue gas, along with an atomizer that sprays the reagent slurry. Within the SDA setup, limestone slurry is atomized and applied to the flue gas to capture SOx. The resultant dry product is collected using an electrostatic precipitator (ESP). Dry FGD systems are particularly cost-effective for smaller power generation units. Additionally, these systems are designed to effectively absorb acid gases, sulfur dioxide, and associated heavy metals simultaneously, enhancing reagent efficiency, minimizing water usage, and eliminating wastewater production. For decades, dry flue gas desulfurization systems have been employed in various power plants and industries, including petrochemical, iron and steel, and pulp and paper sectors, to manage SOx emissions and other pollutants.
From a geographical perspective, the flue gas desulfurization market is segmented into North America, Europe, Asia-Pacific (APAC), South America, and the Middle East & Africa (MEA). In 2019, Asia-Pacific held the largest market share, followed closely by North America. The region's increasing regulatory measures and power generation activities have spurred demand for flue gas desulfurization systems. The Chinese government's focus on economic stimulation through foreign investments and a transition towards enhancing the power generation and energy sectors is expected to drive market growth. The rising electricity demand, coupled with increased investments in thermal power plants across Asian nations, will further boost the market. Additionally, the expansion of the cement and metal smelting industries, along with a growing chemical sector, will contribute to the heightened demand for flue gas desulfurization systems.
The COVID-19 pandemic, which originated in Wuhan, China, in December 2019, has rapidly spread across the globe. By December 2020, countries such as the US, India, Brazil, Russia, France, the UK, Italy, Spain, Argentina, Colombia, Germany, and Mexico were among the most severely affected in terms of confirmed cases and fatalities. The pandemic has significantly impacted economies and industries worldwide due to lockdowns, travel restrictions, and business closures. The chemicals and materials sector has faced substantial disruptions, including office and factory shutdowns and supply chain interruptions, which are anticipated to adversely affect the flue gas desulfurization market.
Key players in the global flue gas desulfurization market include 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.
The overall size of the global flue gas desulfurization market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders and experts to validate the findings and gain deeper analytical insights. Participants in this process included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the global flue gas desulfurization market.