Posted On: 2021-06-09
Fluidized bed dryer are expected to hold the largest revenue share in South Korea Industrial Dryer Market during the forecast period- 6Wresearch
South Korea industrial dryer market witnessed a notable decline during the year 2020 owing to halt in operations of several industries which includes food processing, fertilizers, chemicals, cement and more combined with restriction on movement of people due to imposition of lockdown by South Korean government on spread of COVID-19 across country. However, owing to government launched five-year plan i.e., Bio-tech plan (2019-2024), the pharmaceutical sector would witness substantial growth in the forthcoming years which in turn, would propel the installation of fluidized bed industrial dryer in new areas.
According to 6Wresearch, South Korea Industrial Dryer Market size is projected to grow at CAGR of 4.8% during 2021-2027. Direct dryers would witness considerable growth in South Korea industrial dryer market during the forecast period owing to its benefits such as high heat transfer efficiency, low cost of manufacturing coupled with efficient fuel consumption pattern for industries which includes agriculture and mining in comparison to their other counter parts such as indirect and speciality dryer. Additionally, direct dryers are more suitable for industries such as pharmaceutical and paper & pulp that requires their raw material to be in direct contact with the drying air to demoisturized or extract the water completely from the material. Furthermore, the indirect dryers are ideal options for niche applications which includes processing food grade materials, combustible materials, and very fine chemicals like pigments as these aforementioned dryers provides an opportunity to create an inactive processing environment along with preventing the risk of entrainment when working with fine materials. Hence, these mentioned dryers become more suitable for food and chemical industries across South Korea in the upcoming year.
According to Apoorva Sawhney, Senior Research Analyst, 6Wresearch “On the basis of applications, cement industry would observe notable growth in the near future on account of increasing number of construction projects under residential sector such as Songdo Ijin Bay City Tower 1, Marina G7 Building A and commercial & hospitality domain namely Hyundai Convention hotel and Hyundai global business center which in turn, would propel the demand for cement across cities of South Korea and augment the installation of rotary dryers in cement manufacturing plant across country.”
According to Shivankar Guha, Research Associate, 6Wresearch “Rotary dryers are contributed a major share to South Korea industrial dryer market in 2020 owing to high functional areas in several domains as these dryers have the ability to accept variance in feedstock and process multitude of materials including minerals, fertilizers, chemicals, therefore they become the preferred choice among end-consumers in South Korea.”
South Korea Industrial Dryer Market (2021-2027) report provides in-depth analysis with more than 20 figures and 4 tables covered in more than 70 pages.” The report estimates and forecast the overall Vietnam Helmet Market by revenues, design types and application types. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.