Market Size of Flue Gas Desulfurization (FGD) Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
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Flue Gas Desulfurization Market Analysis
The flue gas desulfurization (FGD) is expected to grow at a CAGR of over 4.80% during the forecast period of 2020 - 2025. Rising awareness about air pollution, owing to the increasing global warming and environmental degradation is attributed to drive the demand of flue gas desulphurization, globally. However, the industrial sector slowdown in some of the major regions as Asia-Pacific and North America is acting as restraint in flue gas desulfurization market. Additionally, the significantly increasing share of renewables in the power generation capacity, globally, which reduces the generation of flue gases and hence leading to the decrease in the demand for flue gas desulfurization.
- The power generation industry is expected to have the maximum share in the flue gas desulfurization market, in 2018, owing the need for reduction of sulfur from the large scale generated flue gases from the coal and gas based power plants.
- The imposition of IMO 2020, from January 2020, globally is expected to act as an opportunity in the market of flue gas sulfurization market.
- Asia-Pacific is estimated to have the maximum share of the flue gas desulfurization market, in 2018. Additionally, the growth rate of the Asia-Pacific region is expected to be the highest during the forecast period, primarily due to the presence of manufacturing base in the emerging economies, such as China and India, and the faster growing demand for power over the forecast period.
