Frost & Sullivan: Looming Market Maturity Highlights The Need For Innovation In The WWWT Market In Japan And South Korea
KUALA LUMPUR, Malaysia, Dec. 11, 2012 /PRNewswire/ -- With Japan and South Korea being among the first few membrane system manufacturers and the few top suppliers globally, the water and wastewater treatment (WWWT) markets in these countries are well developed and approaching maturity. The highly competitive domestic market and strong demand in overseas markets are making a strong case for key companies in Japan and South Korea to shift their business focus to foreign markets.
New analysis from Frost & Sullivan ( http://www.environmental.frost.com), Market for Membrane Technologies Used in Water and Wastewater Treatment in Japan and South Korea , finds that the market earned revenues of US$325.4 million in 2011 and estimates this to reach US$639.4 million in 2017. Intense economic activities boost the demand for WWWT.
"Limited space availability for infrastructure is the primary factor determining the choice of technology for WWWT facilities," said Frost & Sullivan Research Associate Janice Wung. "With membrane technologies enabling the use of decentralised water and wastewater treatment systems that offer the benefits of smaller footprint, ease of operation, and automation, the market for membrane technologies looks promising."
However, the market is pegged back by higher operating and maintenance costs than conventional technologies'. Hence, customers prefer the more economically priced traditional technologies. Further, being the trailblazers in this market, participants in Japan and South Korea have extensive knowledge of the technology. Their know-how intensifies domestic competition, compelling participants to innovate proactively.Reverse osmosis and nanofiltration are expected to be the future buzzwords in the membrane technologies for WWWT market, with both segments witnessing rapid growth. "Key market players have been strongly focusing on technological advancement through their robust R&D activities to earn their place not only in the domestic market, but in the international market as well," noted Wung.
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