Flue Gas Desulfurization System Market Projected To Reach USD 34.1 Billion By 2032 | Increasing Adoption Of Wet FGD Systems Drives The Market Growth | Report By SNS Insider

Austin, Nov. 27, 2024 (GLOBE NEWSWIRE) -- The Flue Gas Desulfurization System Market Size Growth is on a steady growth trajectory, with projections estimating a valuation of USD 34.1 billion by 2032, growing at a CAGR of 5.2% from 2024 to 2032.

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Trends Influencing the Flue Gas Desulfurization System Market

The growing focus on reducing sulfur dioxide (SO2) emissions to comply with stringent environmental regulations is a key trend driving the adoption of FGD systems. Governments worldwide are imposing stricter emissions norms for industrial facilities, pushing industries to invest in advanced desulfurization technologies.

In the power generation sector, the transition toward clean energy sources and retrofitting coal-fired power plants with FGD systems are significant growth drivers. The ability of these systems to reduce SO2 emissions by up to 95% makes them indispensable for compliance with global emission standards.

Another notable trend is the increasing adoption of wet FGD systems, particularly in regions with high coal consumption. Wet systems, which use limestone slurry to remove SO2, are preferred for their high efficiency and adaptability to varying operational conditions.

In the chemical and manufacturing industries, the demand for FGD systems is fueled by the need for sustainable operations and reduced environmental impact. Additionally, the rising use of gypsum a by-product of wet FGD systems in construction materials is adding economic value to these technologies.

Drivers of Growth

The escalating demand for air quality improvement measures in urban and industrial areas is a primary growth driver. According to the International Energy Agency (IEA), coal-fired power plants remain a dominant source of electricity in emerging economies, necessitating the adoption of FGD systems to mitigate environmental impact.

The adoption of FGD systems in the chemical sector is also expanding, driven by the increasing production of sulfur-based compounds and the need for regulatory compliance in emissions control.

Additionally, the rising focus on circular economy initiatives is promoting the utilization of FGD by-products. For instance, synthetic gypsum produced in wet FGD processes is widely used in cement and drywall production, offering an environmentally friendly alternative to natural gypsum.

Flue Gas Desulfurization System Market Report Scope :

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Which Technology Dominated the Flue Gas Desulfurization System Market in 2023?

Wet FGD systems dominated the market in 2023, accounting for over 32% of the total market share. It is due to the efficiency with which such systems can effectively remove sulfur dioxide (SO2) emissions with removal > 95%. Due to their high efficiency, SCGP systems are the technology of choice for utility-scale applications in coal power plants, chemical production, and other industrial facilities where increasingly strict emissions limits must be achieved. Moreover, its capacity to manage a large volume of flue gas and flexibility to different types of fuel makes this system one of the most widely applied. Furthermore, wet FGD systems also produce by-products such as synthetic gypsum that can be reused in the construction sector, which improve the economic attractiveness of the system.

Which Application Segment Led the Market in 2023?

The power plant segment accounted for the majority of the market share near about 32% in 2023. This is due to the large amount of SO2 removed because of the high demand for power generation and the very strict reductions in SO2 emissions. The emissions of sulfur from power plants, especially coal-fired generation are contentious amongst the regulatory community and almost all such database plants have installed FGD systems in response to national conditions. On such a large scale as possible, the government policy has implemented effective emission control technologies at power plants, making it the very penalty for polluters through domestic and international agreements such as the Paris Agreement that those polluters need to conform with air quality levels. As a result, power plants are majorly adopting FGD systems for SO2 emission reduction purposes, which is the largest segment of the market.

Which Region Holds the Largest Market Share in the Flue Gas Desulfurization System Market?

The Asia-Pacific region dominated the market in 2023, holding over 42% of the global market share. The reason for this growth is driven mainly by high coal burning in China and India, the coal-burn duo will remain a major source of energy for years to come in these countries replacing the global trend towards renewables. As a result, though, governments of these countries seem to be working towards reducing the environmental footprint of coal-based power facilities by introducing stringent emission control regulations like China's Ultra-Low Emission Standards and environmental requirements towards sulfur dioxide reductions in India. Moreover, massive investments in industrial infrastructure and retrofitting works to renovate existing facilities will spur the implementation of FGD systems. Together with supportive government initiatives and funding for clean air technologies, the region's growing industrial base proves that it is a global leader in the field.

Recent Developments

• In 2023 , Mitsubishi Heavy Industries, Ltd. announced the successful deployment of its next-generation FGD system at a coal power plant in Southeast Asia. The system offers enhanced SO2 removal efficiency and lower operational costs, aligning with the region's emission reduction goals.
• In 2023 , GE Power introduced a compact FGD solution designed for smaller industrial plants. The innovation aims to make compliance accessible for mid-sized industries, contributing to the broader adoption of desulfurization technologies globally.

Conclusion

The flue gas desulfurization system market is poised for substantial growth, driven by stringent emission regulations and a rising emphasis on sustainable industrial practices. As industries adopt cleaner technologies, FGD systems will remain a critical component of emissions control strategies.

With ongoing advancements in desulfurization technologies and increasing adoption across emerging economies, the market is well-positioned to achieve significant growth through 2032.

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5 Statistical Insights and Trends Reporting:

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• Vehicle Technology Adoption, by Region
• Consumer Preferences, by Region

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