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South Korean Industrial APCE Market to Earn $221 Million by 2016 Finds Frost & Sullivan - New analysis from Frost & Sullivan, Industrial Air Pollution Controls Market in South Korea, finds that the market earned revenues of $190.5 million in 2010 and estimates this to reach $221.3 million in 2016
South Korean Industrial APCE Market to Earn $221 Million by 2016 Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Seoul, Korea (South), 2011/03/09 - New analysis from Frost & Sullivan, Industrial Air Pollution Controls Market in South Korea, finds that the market earned revenues of $190.5 million in 2010 and estimates this to reach $221.3 million in 2016.

   
 
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As most industries, such as power plants and steel mills, in South Korea have already installed air pollution control equipment (APCE), the growth of the market is expected to be limited between 2 and 3 percent for the next five years until 2016.

New analysis from Frost & Sullivan (environmental.frost.com), Industrial Air Pollution Controls Market in South Korea, finds that the market earned revenues of $190.5 million in 2010 and estimates this to reach $221.3 million in 2016.

"The economic downturn's impact on the steel industry had stunted the APCE market's growth in 2008 and 2009. However, during 2010-2016, the market is likely to register a stable growth at a CAGR of 2.4 percent, " notes Frost & Sullivan Consultant Chukiat Wongtaveerat. "The market growth rate is expected to increase from the end of 2010 with strong support from Korean Government on green technologies."

Bank of Korea estimates the 2010 expenditure on environmental protection by the Korean industry and the Government at approximately $15.00 billion and $13.00 billion, respectively. This budget will boost the growth of the overall APCE market in South Korea.

Overall air pollution control, including service and equipment, are also expected to benefit from the huge investments in green technology. Opportunities exist for new systems and replacement or retrofitting activities; nevertheless, these are unlikely to compensate for a trend that sees many of these products as commodities.

In addition, investors are deterred by the high cost of APCE, which is attributed to the initial capital costs in R&D and installation of APCE. Equipment such as Electrostatic precipitators (ESP) and Flue Gas Desulfurization (FGD) are expensive to install and maintain, although they are highly efficient in reducing emissions.

The APCE market is highly dependent on the higher uptake of FGD and Selective Catalytic Reduction (SCR) equipment in power plants and steel industries, which accounted for 54.7 per cent of the total application market in South Korea in 2009.

"Both the power generation and petrochemical industries are expected to generate large volumes of emissions as they embark on their expansion drive, " notes Wongtaveerat. "The South Korean industrial APCE market is shifting toward advanced technologies such as FGD and SCR to reduce the level of sulphur oxides and nitrogen oxides emitted from industry plants."

The revision of the Clean Air Conservation Act by Ministry of Environment in 2008 resulted in greater stringency with regard to air pollution and emissions control. The Air Quality Management Bureau had not been strictly enforcing this legislation but this state of affairs is set to change and greater compliance by industries will drive the growth of the APCE market.

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

Industrial Air Pollution Controls Market in South Korea is part of the Environmental Growth Partnership Services program, which also includes research in the following markets: Benchmarking Country Initiatives on Environment in Asia Pacific, Bottled Water Market in Indonesia, Residential Water Treatment Equipment Market in Malaysia, Industrial Wastewater Treatment Equipment Market in Indonesia, Residential Water Treatment Equipment Market in Singapore. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

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 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

Industrial Air Pollution Controls Market in South Korea / P390

Contact:
Miok Lee, Corporate Communications – Korea
P: +82 2 6710 2033 / E: miok.lee[.]frost.com

 
 
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South Korean Industrial APCE Market to Earn $221 Million by 2016 Finds Frost & Sullivan

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