Dublin, Jan. 28, 2021 (GLOBE NEWSWIRE) -- The "Flue Gas Desulfurization Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Dry FGD and Wet FGD) and Application (Power Generation, Chemical, Iron and Steel, Cement Manufacturing, and Others)" report has been added to ResearchAndMarkets.com's offering.
The market was valued at US$ 18,128.01 million in 2019 and is projected to reach US$ 27,655.04 million by 2027; it is expected to grow at a CAGR of 5.6% from 2020 to 2027
Increasing demand from power and energy sector to escalate flue gas desulfurization market growth
The demand for flue gas desulfurization is rising across diversified end-use industries. Further, rapid industrialization and strategic initiatives taken by the manufacturers are expected to proliferate the growth of the market. Additionally, technological advancements in the designing of FGD systems are expected to provide ample opportunities for market growth.
Power facilities are the most extensive generators of SO2. When SO2 combines with moisture in clouds, it forms acid rain. Incorporation of flue gas desulfurization systems lessens SO2 emissions by 98%. According to the International Energy Agency, the coal-fired power plants produce about 37% of the globe's electricity, making them the largest single electricity generation source worldwide. However, such plants are bound to release pollutants, especially sulfur, which deteriorates the quality of environment.
Chiyoda Corporation; Ducon; General Electric; S.A Hamon; Mitsubishi Heavy Industries, Ltd.; Rafako S.A; Valmet; Doosan Lentjes; Babcock and Wilcox Enterprises, Inc.; and Marsulex Environmental Technologies are among the well-established players in the flue gas desulfurization market.
Impact of COVID-19 Pandemic on Flue Gas Desulfurization Market
As of December 2020, the US, Brazil, India, Russia, Spain, and the UK are among the worst-affected countries in terms confirmed COVID-19 cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.
Food & beverages is one the world's major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries, and it is also one of the worst-affected countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various materials.
Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the industries in a negative manner and thus act as restraining factors for the growth of various markets related to this industry in the coming months.
Key Topics Covered:
1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
4. Flue Gas Desulfurization Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Expert Opinion
5. Flue Gas Desulfurization Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand from Power & Energy Sector
5.1.2 Stringent Rules and Regulations By The Government
5.2 Market Restraints
5.2.1 High Cost of Reagents and Safety Concerns Associated with FGD System
5.3 Market Opportunities
5.3.1 Rising Demand for Flue Gas Desulfurization Gypsum For Soil Amendment Applications
5.4 Future Trend
5.4.1 Technological Advancements regarding Flue Gas Desulfurization
5.5 Impact Analysis Of Drivers And Restraints
6. Flue Gas Desulfurization - Global Market Analysis
6.1 Flue Gas Desulfurization Market Overview
6.2 Flue Gas Desulfurization Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Market Players
7. Flue Gas Desulfurization Market Analysis - By Type
7.1 Overview
7.2 Flue Gas Desulfurization Market Breakdown, By Type, 2019 and 2027
7.3 Dry FGD
7.4 Wet FGD
8. Global Flue Gas Desulfurization Market Analysis - By Application
8.1 Overview
8.2 Flue Gas Desulfurization Market Breakdown, By Application, 2019 and 2027
8.3 Power Generation
8.4 Chemical
8.5 Iron and Steel
8.6 Cement Manufacturing
9. Flue Gas Desulfurization Market - Geographic Analysis
10. Overview - Impact of COVID-19
11. Industry Landscape
11.1 Overview
11.2 Strategy & Business Planning
11.3 Merger and Acquisition
12. Key Company Profiles
- Chiyoda Corporation
- Ducon
- General Electric
- S.A Hamon
- Mitsubishi Heavy Industries, Ltd.
- Rafako S.A
- Valmet
- Doosan Lentjes
- Babcock and Wilcox Enterprises, Inc.
- Marsulex Environmental Technologies
For more information about this report visit https://www.researchandmarkets.com/r/bsno11
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