PRZOOM - /newswire/ -
Cape Town, South Africa, 2009/10/30 - New analysis from Frost & Sullivan, South African Valves and Actuators Market in the Chemicals and Petrochemicals Industry, finds that the industry earned revenues of $78.2 million in 2008 and estimates this to reach $170.6 million in 2015.
Despite the impacts of the global financial crisis, leading companies within the petrochemicals industry in South Africa are continuing to implement planned capital expenditure projects. These sizeable initiatives are set to contribute to growth in sector demand for valves and actuators in South Africa from 2010 to 2015.
New analysis from Frost & Sullivan (industrialautomation.frost.com), South African Valves and Actuators Market in the Chemicals and Petrochemicals Industry, finds that the industry earned revenues of $78.2 million in 2008 and estimates this to reach $170.6 million in 2015. The following technologies are covered in this study: on/off valves, control valves and actuators.
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Patrick Cairns, Corporate Communications, at patrick.cairns[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brief brochure will be sent to you by email.
"Leading chemicals and petrochemicals companies, such as SASOL and PetroSA, are going ahead with their capital expenditure programmes to increase production capacity, despite the global financial crisis," notes Frost & Sullivan Research Analyst, James Fungai Maposa. "The implementation of these projects is expected to contribute to a higher demand for valve and actuator products within the sector."
In addition to the construction of new plants and refineries, challenges such as energy shortages and stricter environmental concerns are other factors that have prompted end users within the sector to upgrade their existing facilities to reduce energy consumption. Part of the upgrade activity will include the replacing of obsolete valves and actuators with automation compatible valve and actuator products.
However, a few user companies within the chemicals and petrochemicals end user sector have announced cuts of their planned capital and operational expenditure budgets of up to 40 per cent due to the impact of the global financial crisis.
"The budget cuts are expected to affect short- and mid-term growth of the valve and actuator market within the petrochemicals industry," states Maposa, "Operational expenditure will be limited to critical purchases, as end-user companies try to save as much as they can to avoid major losses during the financial downturn. A rise in operational expenditure is however expected over the long term, due to most end-user companies focusing on replacing obsolete valve and actuator equipment in older process plants to improve process efficiency and contribute to substantial energy savings."
South African Valves and Actuators Market in the Chemicals and Petrochemicals Industry is part of the Industrial Automation & Process Control Growth Partnership Services programme, which also includes research in the following markets: South African Valves and Actuators Market and, South African Channel Partners Analysis for Industrial Automation and Control Solutions. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.
South African Valves and Actuators Market in the Chemicals and Petrochemicals Industry / M483