The global mist eliminators market size is projected to grow from USD 953 million in 2020 to USD 1,159 million by 2025, at a CAGR of 4.0% between 2020 and 2025. Increasing dependency on fossil fuels, a strong emphasis on process optimization, minimization of emissions, focus on improving process throughput, and growing industrialization is expected to drive the mist eliminators market during the next five years. Technological advancements in the field to control toxic emissions from plants are compelling market players to come up with efficient designs.
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Across the globe, it has been observed that the electricity demand is mostly catered through the coal-fired power plant, especially in developing countries such as India, China, and Brazil, among others. According to the Energy Information Administration (EIA), since 2000, the capacity of coal-fired power plants across the globe has increased to double, i.e., 2,047 gigawatts, and around 300 gigawatts is proposed. This is mainly attributed to massive investment in China, Russia, and India, coupled with the significant growth of the manufacturing sector.
According to the Greenpeace analysis, the coal-fired power plant is a major contributor to the emission of SO2, accounting for more than 40% of the total emission. Also, India, Russia, and China are the major contributing countries with 4,586, 3,683, and 2,578 kilotons/year. To evade the emission of SO2 and support sustainable development, several regulatory bodies have imposed restrictions over their emission from the power plant. For instance, the US Environmental Protection Agency (EPA) had regulated six pollutants under the National Ambient Air Quality Standards program, which resulted in a 73% decline in the emission during 1990-2018. This is achieved through several technological modifications at the processing plant.
In the coal-fired power plant, to evade the SO2 emission, the wet flue gas desulfurization method is prevalently used to minimize the SO2 emission. During this, the mist eliminators play a pivotal role in the collection of the SO2 mist from the gas stream and minimize its concentration from the exhaust gas stream. Thus, with the growing stricter regulations on the power industry and increasing power plant capacity, the demand for mist eliminators will increase in the industry.
APAC projected to account for the largest share of the mist eliminators market
APAC is projected to have the largest share in the global mist eliminators market, in terms of both value and volume, from 2020 to 2025. The APAC mist eliminators market is driven by the rising demand from the oil & gas, and chemical industry to improve the yield of the liquid fraction and to minimize the emission. APAC mist eliminators market has been witnessing consistent growth due to the increasing concern for environmental pollution, growing prevalence of airborne diseases, growth of the manufacturing sector, and enforcement of environmental laws and regulations.
The rise in the demand for mist eliminators from the oil & gas, power generation, chemical, and desalination industries is expected to drive the mist eliminators market. Due to the COVID-19 pandemic, the economic growth of several countries has been declining owing to the suspension of the manufacturing facilities, declining demand for the oil & gas and industrial product, and disruption of the supply chain. The demand for mist eliminators is therefore expected to decrease in several end-use industries in 2020.
Sulzer Ltd. (Switzerland), CECO Environmental Corp.(US), Munters Group AB (Sweden), Koch-Glitsch LP (US), DuPont de Nemours, Inc.(US), Kimre Inc. (US), Hilliard Corporation (US), Monroe Environmental Corporation (US), and Begg Cousland Envirotec Limited (Scotland) are the key players operating in the mist eliminators market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the mist eliminators market.
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