Flue Gas Desulfurization (FGD) Is Expected To Showcase A CAGR Of 6.0% Due To The Increasing Demand From The Coal-Fired Power Plant| Univdatos Market Insights X Herald

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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. In many countries, governments have implemented regulations to limit the amount of sulfur dioxide emissions from power plants. For example, in the United States, the Clean Air Act requires coal-fired power plants to use FGD systems to reduce their sulfur dioxide emissions. In addition, the European Union's Large Combustion Plant Directive also mandates the use of FGD systems in coal-fired power plants. Overall, the demand for FGD systems in coal-fired power plants is expected to continue to grow as environmental regulations become increasingly stringent and as the cost of FGD technology continues to decrease.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the flue gas desulfurization (fgd) market . The pandemic led to a slowdown in industrial activity, which in turn led to a decrease in the demand for FGD systems. Additionally, supply chain disruptions and logistical challenges also affected the market. The pandemic also caused a decrease in the demand for electricity, as many businesses and industries were shut down or operating at reduced capacity. This led to a decrease in the demand for FGD systems as power plants were not operating at full capacity. Furthermore, the pandemic led to a decline in global trade and economic uncertainty, which affected investments in FGD systems. Many projects were put on hold or delayed due to the uncertainty surrounding the pandemic. However, despite the short-term impact of the pandemic on the FGD market, the long-term outlook for the market remains positive. The increasing focus on environmental regulations and the need to reduce emissions from power plants and industrial processes is expected to drive the demand for FGD systems in the coming years. Additionally, the adoption of clean energy technologies, such as renewable energy and energy storage, is expected to increase in the post-pandemic world, which will require a significant amount of investment in grid infrastructure and power generation systems, including FGD systems.

Overall, while the COVID-19 pandemic has had a short-term impact on the FGD market, the long-term outlook for the market remains positive as the demand for cleaner energy and reduced emissions continues to grow.

The global Flue Gas Desulfurization (FGD) market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

· 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.

· On the basis of 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.

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Flue Gas Desulfurization (FGD) Market Geographical Segmentation Includes:

· North America (U.S., Canada, and the Rest of North America)

· Europe (Germany, UK, France, Italy, and the Rest of Europe)

· Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)

· Rest of the World

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.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Flue Gas Desulfurization (FGD) market. The major players have been analyzed using research methodologies such as Porter's Five Forces Analysis to get insight views on global competition.

Recent Developments:

· In July 2020, General Electric group inked an agreement with NTPC Limited to supply the FGD system for its three coal-fired power plants which will treat about 35 million cubic meters per hour of the flue gas.

· In July 2019, NTPC awarded GE Steam Power $335M in contracts to significantly reduce emissions and improve air quality by installing a wet FGD system.

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Key questions resolved through this analytical market research report include:

. What are the latest trends, new patterns, and technological advancements in the Flue Gas Desulfurization (FGD) market?

. Which factors are influencing the Flue Gas Desulfurization (FGD) market over the forecast period?

. What are the global challenges, threats, and risks in the Flue Gas Desulfurization (FGD) market?

. Which factors are propelling and restraining the Flue Gas Desulfurization (FGD) market?

. What are the demanding global regions of the Flue Gas Desulfurization (FGD) market?

. What will be the global market size in the upcoming years?

. What are the crucial market acquisition strategies and policies applied by global companies?

. What are the descriptive profiles of key companies along with their SWOT analysis?

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