Global Coke Dry Quenching Market Projected to Augment at a Notable CAGR during the Forecast Period u
The iron and steel industry is continuously broadening its vision and reaching new heights. With modern infrastructures becoming more advanced, need for effective and more efficient technology is higher than ever before. The growing demand for power is prompting the sector to scout for innovative solutions. Coke dry quenching are heat recovery system used particularly in iron and steel plants. Coke dry quenching recovers heat from red hot coke during quenching process. With the help of coke dry quenching system the recovered heat is used for production of steam and electricity. Coke dry quenching system consists of cooling tower and waste heat recovery boiler. Nowadays Coke Dry Quenching Market fully automated with advanced process control and optimization systems. Coke dry quenching technology was introduces in 1970’s and is now used worldwide in iron and steel plants. A positive outlook can be seen for coke dry quenching during the forecast period.
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Global Coke Dry Quenching Market: Dynamics
Prominent stakeholders in iron & steel industries are leverage emerging technology such as coke dry quenching technology to boost performance. The Coke dry quenching technology (CDQ) is helping in abating climate change by reducing carbon footprint. The state of the art technology will help to achieve Kyoto protocol targets by reducing carbon dioxide emission. Moreover, the coke dry quenching technology also helps in the reduction of coke dust and water utilization. Stringent government regulations on emission control are influencing manufacturers to adopt innovative technologies. Owing to high number of benefits, coke dry quenching technology is expected to be used most widely in iron and steel manufacturing plants, which is encouraging manufacturers to develop more suitable and technologically advanced and apt equipment. Thermal energy of red-hot coke lost in the conventional system can be used in coke dry quenching system by circulating gas in an enclosed system. A 100T/hr. treating capacity of Coke dry quenching system can produce about 18MW electric power by effective utilization of energy which would be lost in conventional wet quenching method system. Increased efficiency and effective utilization of energy will continue to create demand for coke dry quenching technology in the upcoming years. Demand for coke dry quenching system likely to surge in China, Japan, India, and US in the upcoming years owing to high production of iron and steel in the above-said countries. A positive outlook can be seen for coke dry quenching system in the foreseen future but high cost of processing system as well as long setup time for installation might impede the overall growth for coke dry quenching market during the forecast period.
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Global Coke Dry Quenching Market: Regional Outlook
China, India, Japan and US dominate the iron and steel production. Lucrative opportunities for coke dry quenching system manufacturers exists in the above said countries. Less than 35% of iron and steel plants employs coke dry quenching system and hence creates abundant of opportunities for coke dry quenching system in China. Demand for coke dry quenching system likely to grow in European countries owing to strict emission norms in the region. The Latin America Coke Dry Quenching market outlook is expected to remain positive during the forecast period. Asia Pacific leads in terms of installed base for coke dry quenching systems.
Global Coke Dry Quenching Market: Key Players
Some of the key players operating in the global Coke Dry Quenching Market are- JP Steel Plantech Co., Nippon Steel and Sumikin Engineering, JSDJ Heavy Industry Co.,Ltd, Thermax Global, Others
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