JERSEY CITY, N.J., Jan. 24, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Flue Gas Desulfurization (FGD) Market" By Product (Wet FGD System, Dry & Semi-dry FGD Systems), By Application (Power Generation, Iron and Steel, Chemical Industry), and By Geography. According to Verified Market Research, the Global Flue Gas Desulfurization (FGD) Market size was valued at USD 17.5 Billion in 2020 and is projected to reach USD 24.7 Billion by 2028, growing at a CAGR of 4.3% from 2021 to 2028.
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Global Flue Gas Desulfurization (FGD) Market Overview
Flue Gas Desulfurization (FGD) materials are solids generated when the SO2 in exhaust gases from coal-fired power plants is removed before the gases are released into the atmosphere. The tons of Flue Gas Desulfurization materials are produced annually around the globe, about half of which is useful. The rising demand for power on account of swift urbanization and the global dependence on coal for energy generation represents one of the key factors catalyzing the demand for FGD across the globe. In addition, there is an increase in the utilization of FGD gypsum in water treatment, panel products, construction, cement production, agriculture, and glassmaking applications.
It is also utilized as a soil amendment in several soil conditions to improve physical and chemical properties by promoting superior aggregation, rising water infiltration rate, and decreasing soil and soluble phosphorus loss from agricultural fields. The developing concerns regarding environmental pollution and the implementation of environmental laws & regulations are expected to drive the Global Flue Gas Desulfurization (FGD) Market. Moreover, the rise in demand for airborne diseases and multiply the demand for electricity along with noteworthy investments in thermal power plants in the Asian countries expect a boom to the market in the coming years.
In today's modern world technological improvement in the design of large performing FGD systems would provide market players with new opportunities to explore. In addition, reducing the cost of FGD systems is expected to give opportunities for new market entrants. However, high maintenance costs due to the presence of different reagents to treat the emission of sulfur content are a key market challenge. The main energy utilization is assigned to the tank agitation, reheater, water & slurry pumps. Other main factors that impact energy consumption patterns are scrubber design, regulatory constraints, and coal characteristics. These big energy requirements pose a major challenge to the growth of the Flue Gas Desulfurization (FGD) Market.
Key Developments
Key Players
The major players in the market are Mitsubishi Heavy Industries, General Electric, Doosan Lentjes, Babcock& Wilcox Enterprises, Rafko, Siemens, Flsmidth, Hamon Corporation, Clyde, Bergemann, Power Group, Andritz.
Verified Market Research has segmented the Global Flue Gas Desulfurization (FGD) Market On the basis of Product, Application, and Geography.
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