Industrial Emission Control Systems Market Analysis

Industrial Emission Control Systems Market Analysis

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Growing applicability of these solutions, mainly across the steel plant, cement, and power generation applications, coupled with the ongoing technological advancement & renovation of the existing projects will augment the product demand. For example, in October 2021, Valmet signed a letter of intent with CMPC to deliver advanced technologies for the BioCMPC project that focuses on the modernization of Guaíba pulp mill including the adoption of advanced designed lime kiln ESP. Additionally, its wide applicability across the industries on account of easy operations and lower cost in comparison to other available emission control technologies has led to steady sector demand.
 

Shifting interest of industrial emission control systems market participants in the industrial sectors to control the explosive oil mists of systems and adopt enhanced dust collection systems, will accelerate industry expansion. Ongoing development of advanced design & efficient systems by the leading players has resulted in enhanced product penetration. Rising purchasing power of the consumers, stringent regulatory environment, and ongoing investment toward the expansion of chemical production units are set to foster the industry demand by 2032. The growing need for chemicals around the globe together with the strengthening of the emission norms has further complemented the business growth.
 

The installations of scrubbers and ESPs across the petrochemical sector has witnessed considerable growth in recent years on account of the increasing focus toward curbing emission levels and rising investments toward refining capacity additions. As per World Economic Forum, the total emission or greenhouse gases emission from land use and fossil fuels increased by approximately 0.8% in the year 2022. Furthermore, the introduction of increasingly stringent regulations toward reducing GHG emissions in oil and gas value chain including refining and petrochemical production is set to drive the upgrading or the replacement of the existing systems.
 

Mining activities are responsible for environmental disturbance as a variety of pollutants are emitted in the procedure of ore mining. Growing mining activities and strict government mandates regarding emissions will encourage the industrial emission control systems market espousal. Moreover, the final regulations (2006) amended the emission standards for combined steel and iron manufacturing facilities. The final standards further establish emission limitations for the Hazardous Air Pollutants (HAPs) emitted from blast furnaces, sinter plants, and Basic Oxygen Process Furnaces (BOPFs).
 

The Asia Pacific industrial emission control systems market is set to cross USD 39.8 billion by 2032. Greenhouse gas emissions from various manufacturing facilities have become a major concern for the policy makers worldwide. Growing concentration of such emissions across the atmosphere will create serious issues to human health. As per the IEA, the direct CO2 emissions from industries including chemical, petrochemical, cement, and iron & steel have reached 36.3 Gt in 2021, their highest ever annual level from 7.5 Gt in 2009. As a result, it has become a necessity for the regulators to implement various stringent measures to limit the increasing harmful emissions. This has led to the development of innovative techniques, creating low-carbon industrial processes.
 

The ongoing investments toward the development of new industrial facilities along with government focus on improving energy efficiency will drive the product deployment in developing economies including China, India, & Bangladesh. Countries across the Asia Pacific region primarily rely on the coal & natural gas to meet the growing energy needs, necessitating the deployment of systems to curb the emissions. Therefore, several policies along with stringent regulations pertaining to climate change mitigation will play a positive role in the industrial emission control systems market expansion.