Global demand for flue gas desulfurizer market was valued at approximately USD 21.16 billion in 2018 and is expected to generate revenue of around USD 33.08 billion by end of 2025, growing at a CAGR of around 6.6% between 2019 and 2025.
The report covers forecast and analysis for the flue gas desulfurizer market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on volume (Units) and revenue (USD Billion). The study includes drivers and restraints for the flue gas desulfurizer market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the flue gas desulfurizer market on a global as well as regional level.
As per the report, the global demand for flue gas desulfurizer market was valued at approximately USD 21.16 billion in 2018 and is expected to generate revenue of around USD 33.08 billion by end of 2025, growing at a CAGR of around 6.6% between 2019 and 2025.
Flue gas desulfurization is the process of removing sulfur dioxide from exhaust flue-gases from sulfide emitting processes. Sulfur dioxide emissions in the atmosphere lead to acid rain and hence, stringent regulations have been placed on the manufacturing and process industry to curb sulfur dioxide emissions across the globe. Increasing concerns regarding the emission of sulfur dioxide into the atmosphere is expected to be the major driving factor for the growth of the global flue gas desulfurizer market. Moreover, increasing construction of power plants across the globe owing to the increasing energy demand is expected to further aid the growth of the global flue gas desulfurizer market. Increasing focus on the air quality in major nations owing to climate change and increasing pollution levels is also expected to aid the growth of the market. Growing sulfur dioxide levels in the atmosphere can lead to breathing difficulties, inflammation in the respiratory system, skin irritation, etc. However, high installation cost of flue gas desulfurizers is expected to be a restraining factor for the entry of new players in the market.
The global flue gas desulfurizer market is segmented based on system, application, and region. Based on system, the market is segmented into wet systems and dry systems. Wet systems accounted for a significantly large share of the global flue gas desulfurizer market. Based on application, the market is segmented into power plants, chemical & petrochemical, cement, metal processing & mining, manufacturing, and others. Cement segment accounted for the largest market share in the global flue gas desulfurizer market in 2018 and is expected to witness considerable growth during the forecast period. Cement manufacturing accounts for high sulfur dioxide emissions and the installation of flue gas desulfurizers help reduce the emissions significantly. This has increased the adoption of flue gas desulfurizers in the cement industry.
Asia Pacific accounted for the largest share in the global flue gas desulfurizer market in 2018. Growth of the industries such as cement and metal is expected to be a major driver for the growth of the flue gas desulfurizer market in the region. Moreover, increasing power generation activities in the region owing to the ever increasing energy demand in the region is expected to drive the demand for flue gas desulfurizers in the region. The region accounts for almost half the global flue gas desulfurizers demand.
Some of the key players operating in the global flue gas desulfurizer market include Alstom S.A., Babcock and Wilcox Company, China Boqi, Chiyoda Corporation, Ducon Technologies Inc., Hitachi Power System America Ltd., Hamon Research-Cottrell, Lonjing Environment Technology Co. Ltd., Mitsubishi Heavy Industries, Ltd., Marsulex Environmental Technologies, Siemens Energy, and Thermax, among others.
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