Flue Gas Desulfurization Market Growth and Forecasts

Flue Gas Desulfurization Market Growth and Forecasts
As per Triton's research report, the global market for flue gas desulphurization generated a $21754.15 million revenue in 2022 and is expected to rise with a CAGR of 4.93% over the forecasting years 2023-2030.

A recent study by Triton Market Research titled Global Flue Gas Desulphurization Market includes the Global Analysis and Forecasts by Application (Iron and Steel, Power Generation, Cement Manufacturing, Chemicals, Other Applications), Technology (Spray Dry FGD Systems, Wet FGD Systems, Dry FGD Systems), and Regional Outlook (North America, Latin America, Middle East and Africa, Europe, Asia-Pacific).

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Flue gas desulfurization is a process used to separately remove sulfur dioxide from the emissions of fossil fuel power plants to avoid air degradation. It helps neutralize the sulfur dioxide gas with the help of scrubber systems. This technology has applications in petroleum refineries, sulfuric acid plants, industrial boilers, etc.

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Triton's report predicts the global flue gas desulfurization market to witness a growth rate of 4.93% during the forecasting years 2023-2030. The anticipated revenue will be $31952.98 million by 2030.

The growth of the market is attributed to factors like reducing the serious impact of sulfur dioxide emissions on the environment and safeguarding public health from airborne diseases. Long exposure to sulfur dioxide causes respiratory diseases like asthma, throat irritation, coughing, and shortness of breath. To address this health concern, adhering to the strict emission rules and standards of regulatory authorities becomes a norm for industries. Hence, there is a regulatory push for achieving cleaner air and a safer environment, which drives the flue gas desulfurization market's development.

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However, the market faces challenges like industrial slowdowns, which causes limited findings to install and upgrade the FGD systems. The increasing dependability on renewable energy and awareness about the green economy further reduces the need for FGD systems in industries.

The FGD market is segmented into application and technology. Based on application, it includes iron and steel, power generation, cement manufacturing, chemicals, and other applications. Whereas based on technology, the market is further segmented into dry FGD systems, spray dry, and wet FGD systems.

Asia-Pacific dominates the flue gas desulfurization market. This region has the highest reserves of limestone, which is an important raw material for setting up FGD systems. Hence, the developing countries in the region will witness a massive transformation in the industrial landscape, spurring the demand for flue gas desulfurization solutions. The biggest industries, like thermal power plants, chemicals, and coal, are the primary growth drivers of the FGD systems.

Thermax Ltd, Andritz AG, Mitsubishi Hitachi Power Systems Ltd, Babcock & Amp, Rafako SA, Willcox Enterprises Inc, Ducon Technologies Inc, Flsmidth AS, Hamon Group, John Wood Group Plc, Chiyoda Corporation Doosan Lentjes GmbH, Kawasaki Heavy Industries Ltd, Marsulex Environmental Technologies, and Fujian Longking Co Ltd are the leading companies in FGD market.

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Question & Answer: Global Flue Gas Desulfurization Market

Question 1: What factors lead to the growth of the flue gas desulfurization market?
Answer: The growth of the market is attributed to factors like reducing the serious impact of sulfur dioxide emissions on the environment and safeguarding public health from airborne diseases. Long exposure to sulfur dioxide causes respiratory diseases like asthma, throat irritation, coughing, and shortness of breath. To address this health concern, adhering to the strict emission rules and standards of regulatory authorities becomes a norm for industries. Hence, there is a regulatory push for achieving cleaner air and a safer environment, which drives the flue gas desulfurization market's development.

Question 2: What are the factors that hamper flue gas desulfurization market expansion?
Answer: The market faces challenges like industrial slowdowns, which causes limited findings to install and upgrade the FGD systems. The increasing dependability on renewable energy and awareness about the green economy further reduces the need for FGD systems in industries.

Question 3: Which region dominates the flue gas desulfurization market?
Answer: Asia-Pacific dominates the flue gas desulfurization market. This region has the highest reserves of limestone, which is an important raw material for setting up FGD systems. Hence, the developing countries in the region will witness a massive transformation in the industrial landscape, spurring the demand for flue gas desulfurization solutions. The biggest industries, like thermal power plants, chemicals, and coal, are the primary growth drivers of the FGD systems.

Question 4: Which are the leading companies in the FGD market?
Answer: Thermax Ltd, Andritz AG, Mitsubishi Hitachi Power Systems Ltd, Babcock & Amp, Rafako SA, Willcox Enterprises Inc, Ducon Technologies Inc, Flsmidth AS, Hamon Group, John Wood Group Plc, Chiyoda Corporation Doosan Lentjes GmbH, Kawasaki Heavy Industries Ltd, Marsulex Environmental Technologies, and Fujian Longking Co Ltd are the leading companies in FGD market.

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