Report : Asia Pacific Flue Gas Desulfurization Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Dry FGD and Wet FGD); Application (Power Generation, Chemical, Iron and Steel, Cement Manufacturing and Others)
According to the latest study on “Asia Pacific Flue Gas Desulfurization Market Forecast to 2027 – Covid-19 Impact and Analysis – By Type (Dry FGD and Wet FGD); Application (Power Generation, Chemical, Iron and Steel, Cement Manufacturing and Others)” the Asia Pacific flue gas desulfurization market was valued at US$ 9,089.24 million in 2019 and is projected to reach US$ 14,021.10 million by 2027; it is expected to grow at a CAGR of 5.7 % during 2020-2027. The report provides understanding on the key driving factors pertaining to the market growth and highlights the prominent players in the market, along with their developments.
The government is imposing stringent norms and regulations to reduce energy-related emissions to achieve and maintain the National Ambient Air Quality Standards for carbon monoxide and ozone; to develop cost-effective, flexible control strategies to minimize energy-related emissions of sulfur dioxide (SO2) and nitrogen oxides. The primary air pollutants resulting from fossil fuel combustion are carbon monoxide, the oxides of sulfur, SO2, and SO3 (represented as SOx), nitrogen, NO, and NO2 (NOx). These prime pollutants can further mix with the environment to generate additional harmful effects and may result in the greenhouse effect, acid rain, smog, and the depletion of ozone levels. Therefore, stringent international and government regulations are continuously being imposed, such as the Clean Air Act (CAA) and the Mercury and Air Toxics Standards, enforce installing systems that monitor and control emissions to bring them to a safer level power generation companies using fossil fuels. Moreover, many coal-based plants are installing flue gas desulphurization (FGD) systems to meet emission norms announced by the government which is expected to drive the flue gas desulphurization market.
The increase in popularity of the flue gas desulfurization among the populace has motivated the manufacturers to boost the production volume and undertake investment in research and development and new product development using the latest technology to suit consumer needs. Introduction and adoption of advanced technology can create opportunities, which will boost the Asia Pacific flue gas desulfurization market during the forecast period. Technological advancement by the key manufacturers such as GE Power, HAMON GROUP, and others have significantly driven the demand for flue gas desulphurization systems. For instance, GE Power offers NOVEL INTEGRATED DESULFURIZATION (NID) which is a well-fitted technology for various industry applications, particularly waste-to-energy and iron and steel. This system includes a J-duct reactor, a patented integrated hydrator/mixer, and typically a fabric filter. Hydrated lime is utilized as a reagent to react with gaseous pollutants like HCl, SOx, and HF. Mercury collection can be obtained by injecting PAC upstream. The collected particles are either recirculated or disposed of. Hence, such technological advancements are is the key trend driving the flue gas desulphurization system market.
The Asia Pacific flue gas desulfurization market is growing at a tremendous rate over the years, and it is likely to continue to grow at a same rate during the forecast period. India, China, Japan, South Korea, Australia are the key contributors to the flue gas desulfurization market in this region. These emerging countries are witnessing an upsurge in industrialization and urbanization activities, offering ample opportunities for the key market players in the flue gas desulfurization market. The flue gas desulfurization industry in the countries of APAC has experienced a considerable shift over the years. The massive growth of the Asia-Pacific region is due to the presence of a manufacturing base in the emerging economies, such as India and China, and the faster-growing demand for power over the forecast period. The NASA data, highlights that coal-based power stations are the major emission sector in the APAC countries such as India, China, Indonesia, Thailand, and Australia. Attributed to the flourishing economic conditions in the APAC region, there has been a spur in the region's industrial activities, which is leading to an increase in air pollution. The exponential growth in the industrial sector, including chemicals and metal processing, power generation, and cement manufacturing, has influenced the demand for flue gas desulphurization systems. Countries such as India and China are already topping the list of most polluted countries. The governments of these countries have been forced to implement laws and regulations for the emission standard in these countries, forcing the pathway to implement flue gas desulphurization systems in industries.
Recently, the World Health Organization (WHO) announced the outbreak of COVID-19, the novel form of a disease caused by the virus SARS-CoV-2, as a pandemic. This outbreak started in December 2019 in Wuhan, China, and later, it turned into a pandemic, causing numerous deaths worldwide. The outbreak of COVID-19 pandemic has severely impacted the chemicals & materials industry. The shutdowns of this industry and supply chain disruptions due to lockdown of countries has created a strain on the supplies of the products of this industry. India witnessed the highest number of day cases in Asia Pacific. The government of various countries in the Asia Pacific has taken necessary steps to reduce its effects by announcing lockdowns, and thus, impacting the growth of the flue gas desulfurization market. This is likely to impact the chemicals and materials industry in the region as, due to the COVID-19 outbreak, the supply and distribution chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth.
The Asia Pacific flue gas desulfurization market is concentrated with several well-established players. A few of the key players in this 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 report includes the segmentation of Asia Pacific flue gas desulfurization market as follows:By Type
- Dry FGD
- Wet FGD
- Power Generation
- Iron and Steel
- Cement Manufacturing
- South Korea
- Rest of Asia Pacific
Contact Person: Sameer Joshi
Email Id: email@example.com