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Industrial Air Pollution Controls Market in South Korea
Frost & Sullivan, Dec 2010, Pages: 79
This research service highlights the South Korean industrial air pollution controls market. It provides a complete analysis of the market dynamics such as drivers and restraints for growth, challenges, technology, legislation and equipment trend. Following from these, total market size for industrial air pollution control equipment is forecasted. In addition, an in-depth analysis of value chain analysis, competitive structure, end-user analysis, strategic conclusion, and profile of key market participants are performed. The base year is 2009 with forecasts running through 2016.
Research Overview
This Frost & Sullivan research service titled Industrial Air Pollution Controls Market in South Korea provides market drivers and restraints, technology, legislation and equipment trends. It includes an analysis of value-chain, competitive structure, end users, strategic conclusion and profile of the key market participants. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: fabric filters, electrostatic precipitators (ESP), wet scrubbing equipment, flue gas desulphurisation (FGD) and selective catalytic reduction (SCR).
Market Overview
South Korean Industrial Air Pollution Controls Market Expected to Grow at 2-3 Per Cent from 2010 to Reach $221.3 Million in 2016
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. “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 the analyst of this research service. “The market growth rate is expected to increase from the end of 2010 with strong support from Korean Government on green technologies.” The 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 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 the system. Equipment such as ESP and 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 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 the analyst. “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 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.
Technologies
The following technologies are covered in this research:
- Fabric filters
- Electrostatic precipitators (ESP)
- Wet scrubbing equipment
- Flue gas desulphurisation (FGD)
- Selective catalytic reduction (SCR)
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