Chemical & Petrochemical IECS Market Size - By Systems (Electrostatic Precipitators Catalytic Systems, Absorbers, Scrubbers), Regional Outlook & Growth Forecast, 2024 – 2032

Chemical & Petrochemical IECS Market Size

Chemical & Petrochemical IECS Market was valued at USD 9 billion in 2023 and will grow at a CAGR of over 6.3% from 2024 to 2032. The chemical and petrochemical industrial emission control system market is evolving rapidly, driven by regulatory pressures, technological advancements, and a growing focus on sustainability. Companies in this market are investing in advanced technologies, digital solutions, and R&D to meet stringent emission standards and enhance their environmental performance.
 

Growing public awareness and advocacy for environmental protection are influencing corporate strategies and government policies. NGOs, environmental groups, and the general public are increasingly demanding stricter emission controls and greater transparency. This heightened awareness is driving companies to adopt advanced emission control technologies and practices, thereby enhancing their social license to operate.
 

Chemical & Petrochemical IECS Market Trends

Stringent government regulations coupled with increasing technological advancements in industrial emission control systems will complement the business scenario. Regulatory frameworks, such as the U.S. Environmental Protection Agency (EPA) standards, the European Union’s Industrial Emissions Directive (IED), and China's National Emission Standards, have been pivotal in driving the adoption of industrial emission control systems. Companies are increasingly investing in advanced technologies to meet stringent emission limits, avoid penalties, and enhance sustainability credentials. In addition, significant technological advancements aimed at improving efficiency, reliability, and cost-effectiveness of pollution controlling devices will further complement the business outlook.
 

Growing public awareness and advocacy for environmental protection are influencing corporate strategies and government policies. NGOs, environmental groups, and the general public are increasingly demanding stricter emission controls and greater transparency. This heightened awareness is driving companies to adopt advanced emission control technologies and practices, thereby enhancing their social license to operate.
 

Chemical & Petrochemical IECS Market Analysis

The global chemical & petrochemical IECS industry is expected to surpass USD 15.5 billion by 2032. The growing emphasis on sustainability and corporate social responsibility has compelled chemical and petrochemical companies to adopt greener practices. Emission control systems are integral to these efforts, enabling companies to reduce their environmental footprint. By investing in state-of-the-art emission control technologies, companies enhance their public image, meet stakeholder expectations, and align with global sustainability goals such as the United Nations Sustainable Development Goals (SDGs).

Based on systems, the electrostatic precipitators will grow at a CAGR of over 6.4% through 2032. Innovations in heat recovery, advanced materials, and system design are contributing to the development of more energy-efficient emission control solutions. Companies are prioritizing energy efficiency to enhance their overall sustainability and profitability.
 

Asia Pacific chemical & petrochemical IECS market size is projected to surpass USD 5.2 billion by 2032. Rapid industrialization and economic growth in emerging markets are driving the demand for emission control systems. Countries like China, India, and Southeast Asian nations are expanding their chemical and petrochemical production capacities, leading to increased emissions. As a result, governments in these regions are implementing stringent emission standards, thereby boosting the market for emission control systems. Additionally, international trade agreements and export market requirements are compelling manufacturers to adopt advanced emission control technologies.
 

In the U.S., the digital transformation is revolutionizing the emission control system market. The integration of digital technologies such as the Internet of Things (IoT), artificial intelligence (AI), and big data analytics is enabling more precise and efficient emission control. These technologies facilitate real-time monitoring, predictive maintenance, and automated adjustments, enhancing system performance and reducing operational costs across the country.
 

Chemical & Petrochemical IECS Market Share

Babcock & Wilcox Enterprises, Inc., BASF SE, CECO ENVIRONMENTAL, DÜRR Group, GEA Group Aktiengesellschaft, General Electric, S.A. HAMON, among others are few of the major market players in the chemical & petrochemical IECS business. Strategic partnerships and collaborations are enabling companies to leverage each other’s strengths and enhance their technological capabilities. These trends are fostering a more competitive and dynamic market environment, driving innovation and improving service offerings.
 

Chemical & Petrochemical IECS Market Companies

Major key players operating across the chemical & petrochemical IECS industry are:

• APC Technologies, Inc.
• Babcock & Wilcox Enterprises, Inc.
• BASF SE
• CECO ENVIRONMENTAL
• DÜRR Group
• FLD Smidth
• Fujian Longking Co., Ltd.
• Fuel Tech Inc.
• GEA Group
• General Electric
• KC Cottrell India
• John Wood Group PLC
• Monroe Environmental Corp.
• S.A. HAMON
• MITSUBISHI HEAVY INDUSTRIES, LTD.
• TAPC
• Thermax Limited
• Zhejiang Feida Environmental Protection Technology Co., Ltd.
   

Chemical & Petrochemical IECS Industry News

• In March 2024, the U.S. government announced an allocation of over USD 6 billion in federal funding to support industrial emissions reduction projects. This funding will subsidize 33 industrial projects across 20 states, aiming to cut carbon emissions and thereby stimulating market growth.
   
• In December 2023, the European Union allocated funds to modernize energy systems in nine Member States through 19 selected projects. These investments aim to assist lower-income EU countries in meeting their 2030 climate and energy targets, reducing greenhouse gas emissions in the energy, industry, and transport sectors, and enhancing energy efficiency.
   

This chemical & petrochemical IECS market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in ‘USD Billion’ from 2021 to 2032, for the following segments:

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Market, By System

• Electrostatic Precipitators
• Catalytic Systems
• Absorbers
• Scrubbers
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Aisa Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Chile
  • Argentina