Flue Gas Desulfurization (FGD) Market: Current Analysis and Forecast (2022-2028)

Report Description

The Flue Gas Desulfurization (FGD) Market was valued at USD 19.5 billion in 2021 & is expected to grow at a CAGR of 6.0% from 2022-2028. Owing to the higher dependence on the coal-fired power plant for energy generation as well as the increasing awareness related to sulfur emission. Flue Gas Desulfurization (FGD) is a process used to remove sulfur dioxide (SO2) from the exhaust flue gases of fossil fuel power plants, as well as from other industrial processes that produce emissions containing sulfur dioxide. The process is also known as scrubbing. The FGD process involves the use of a scrubbing agent, usually a mixture of water and lime or limestone, which reacts with the sulfur dioxide in the flue gas to produce calcium sulfite or calcium sulfate. The resulting product is then removed from the flue gas stream through a series of physical and chemical processes. The most commonly used FGD method is wet scrubbing, where the flue gas is sprayed with the scrubbing agent and then passed through a mist eliminator to remove any remaining droplets of the scrubbing agent. Other FGD methods include dry scrubbing and semi-dry scrubbing. FGD is an important process for reducing the amount of sulfur dioxide emitted into the atmosphere, which is a major contributor to acid rain and other environmental problems.

Some of the major players operating in the market include Babcock & Wilcox Company, General Electric, Chiyoda Corporation, Fujian Longking Co., Ltd., Andritz AG, John Wood Group PLC, Hamon Corporation, Mitsubishi Hitachi Power Systems, Wuhan Kaidi Electric Power Environmental Co., Ltd., and Alstom. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, the wet gas segment held a dominating share of the market in 2021”

Based on type, the market is bifurcated into dry gas and wet gas system. The wet gas system is expected to register a significant market share in the market owing to its higher incorporation in power plants, industrial boilers and other sources. The wet FGD process typically involves three main stages: absorption, oxidation, and byproduct removal. During the absorption stage, the flue gas is mixed with a water-based slurry of limestone or lime, which absorbs the sulfur dioxide. In the oxidation stage, the calcium sulfite is oxidized to form calcium sulfate, which is then removed from the system. Finally, any byproducts produced during the process, such as gypsum, are removed and disposed of. Wet FGD is a widely used technology for controlling emissions of sulfur dioxide from power plants and other industrial facilities. It is highly effective, with removal efficiencies of up to 95% or more, and is also relatively low cost compared to other control technologies.

“Amongst end-users, the power plant segment registers a significant CAGR in the market for the year 2021.”

Based on end-users, the market is segmented into chemical & petrochemical, cement, power plant, metal processing & mining, and others. The power plant segment is expected to witness significant CAGR during the forecast period owing to the increasing demand for power and the associated emission of flue gas in power generation. In addition, Wet scrubbers are the most commonly used FGD technology in the power industry. They use a liquid (typically limestone slurry) to absorb the SO2 from the flue gas. The absorbed SO2 reacts with the liquid to form calcium sulfate (gypsum), which can be used in various industrial applications. Overall, FGD systems are an essential technology for the power industry to reduce its impact on the environment and public health. They help power plants comply with environmental regulations and reduce their emissions of harmful pollutants.

“Asia-Pacific dominated the Flue Gas Desulfurization (FGD) market in 2021”

The Asia-Pacific region is a major market for FGD technologies, given the high levels of coal consumption and the consequent need to control SO2 emissions. The Asia-Pacific region is expected to see significant growth in FGD installations in the coming years, driven by stricter environmental regulations and increasing public awareness of the health impacts of air pollution. China and India are among the largest markets for FGD technologies in the region, given their large coal-fired power generation capacity. Other countries, such as Japan, South Korea, and Australia, are also investing in FGD technologies to reduce their emissions of SO2 and other pollutants.

Flue Gas Desulfurization (FGD) Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Research Methodology for the Flue Gas Desulfurization (FGD) Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Flue Gas Desulfurization (FGD) market were the three major steps undertaken to create and analyze the adoption of Flue Gas Desulfurization (FGD) in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Flue Gas Desulfurization (FGD) market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Flue Gas Desulfurization (FGD) market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Flue Gas Desulfurization (FGD) market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Flue Gas Desulfurization (FGD) market. Further, we conducted factor analysis using dependent and independent variables such as type and end-users of the Flue Gas Desulfurization (FGD) market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Flue Gas Desulfurization (FGD) market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Flue Gas Desulfurization (FGD) market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Flue Gas Desulfurization (FGD) market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Flue Gas Desulfurization (FGD) market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Flue Gas Desulfurization (FGD) market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, technology, and end-users in the global Flue Gas Desulfurization (FGD) market.

The main objective of the Global Flue Gas Desulfurization (FGD) Market Study

The current & future market trends of the global Flue Gas Desulfurization (FGD) market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Flue Gas Desulfurization (FGD) market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the type and end-users.
• Define and analysis of the regulatory framework for the Flue Gas Desulfurization (FGD) industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Flue Gas Desulfurization (FGD) market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Flue Gas Desulfurization (FGD) market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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