South Korea Industrial Dryer Market (2021-27)
Market Forecast By Product (Direct Dryers, Indirect Dryers, Specialty Dryers), By Type (Rotary Dryers, Fluidized Bed Dryers, Spray Dryers, Flash Dryers, Conveyor Dryers, Drum Dryers, Freeze Dryers), By Applications (Food, Pharmaceutical, Fertilizer, Chemicals, Cement, Others) And Competitive Landscape
According to 6Wresearch, South Korea Industrial Dryer Market size is projected to grow at CAGR of 4.8% during 2021-27.South Korea Industrial dryer market is anticipated to grow substantially in the forthcoming years owing to the presence of a robust industrial sector in South Korea combined with rapidly growing agricultural imports for food processing industries which have increased the number of food processing companies across the country. Additionally, the majority of the demand for industrial dryer could be witnessed in industrial domains from pharmaceuticals and food industries in the recent past. However, the outbreak of the COVID-19 pandemic has negatively impacted the market during the year 2020 as a result of a halt in the business operations of manufacturing units and the stringent lockdown imposed across the country.
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.
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Market Analysis by Type
Direct dryer 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.
Key Highlights of the Report
South Korea Industrial Dryer Market Overview
South Korea Industrial dryer Market Trends
Industry Life Cycle
Porter’s Five Force Analysis
South Korea Industrial Dryer Market Outlook
South Korea Industrial Dryer Market Forecast
Market Drivers
Market Restraints
Market Opportunity Assessment
South Korea Industrial dryer Market Share, By Company
Market Competitive Benchmarking
Company Profiles
Key Strategic Recommendations
Historical Data and Forecast of South Korea Industrial Dryer Market Revenues and Volumes, By-Products and Applications for the Period 2017-2027F
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