South Korea Water Desalination Market Research Report, 2029

South Korea Water Desalination Market Research Report, 2029

Actual Market Research 31-01-2024 63 Pages Figures : 5 Tables : 16 Region : Asia-Pacific Country : Korea South Category : Energy & Utility Environmental

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Water scarcity is a hidden difficulty faced by South Korea, a country renowned for its technological prowess and lively pop culture. The nation is increasingly resorting to water desalination as a life-saving solution due to its limited freshwater supplies and impending climate calamity. A recent development is that negotiations are underway for another branch of the Saudi government to purchase tiny modular reactors from South Korea in order to desalinate saltwater for usage in homes and businesses. The Daesan Desalination Plant is the first large-capacity desalination plant in South Korea, and it is designed, built, and supplied by GS Inima. At the moment, water scarcity is a problem in Korea. Early in the twenty-first century, it is anticipated that Korea will have a water deficit greater than 10% of the country's yearly consumption. The issue of water scarcity is particularly severe in coastal regions that are home to several industrial complexes. Due to Korea's proximity to the sea on three of its borders, saltwater desalination is receiving more attention as a potential solution to the country's water scarcity issue. Through a web of rules and encouraging initiatives, the South Korean government significantly influences the water desalination industry. To build and run desalination plants, businesses need permission from the Ministry of Environment and the appropriate local authorities. These licenses guarantee adherence to water quality guidelines and environmental laws. Environmental impact assessments (EIAs) are mandatory for large-scale desalination projects in order to identify and prevent potential ecological problems. South Korea now uses desalination mostly for industrial and agricultural purposes, as opposed to areas such as the Middle East where it is predominantly used for public water supply. This is due to the fact that desalinated water is more expensive in South Korea than freshwater sources. According to the research report "South Korea Water Desalination Market Research Report, 2029," published by Actual Market Research, the South Korea Water Desalination Market is expected to grow with more than 6% CAGR from 2024 to 2029. Freshwater resources are under stress due to erratic rainfall patterns and an increase in the frequency of droughts. In addition to promoting long-term water security, desalination provides a dependable supply of water during dry spells. Desalination may be a necessary countermeasure as freshwater sources are also threatened by rising sea levels brought on by climate change. The population of South Korea's vibrant cities is constantly growing, which raises the need for water for both residential and commercial uses. In order to satisfy the demands of expanding urban populations, desalination can assist complement current water sources. Even though there are still worries about the expense, health dangers, and environmental effects of desalination, public awareness and education campaigns are helping to increase acceptance of the technology as a workable alternative. Public trust is being fostered by the successful installation of desalination plants in coastal towns and the demonstration of the technology's advantages. Leading the way in the development and sale of desalination technology are South Korean businesses, demonstrating their expertise and supporting international efforts to ensure water security. With this leadership role, Korean businesses can now take advantage of profitable chances to engage in global desalination projects. Based on by Technology the market can be categorized by Reverse Osmosis, Multi-Stage Flash (MSF) Distillation, Multi-Effect Distillation (MED), Others (Vapor Compression Distillation (VCD), Mechanical vapor compression (MVC), solar desalination, Hybrid systems & Electro dialysis/Electro dialysis Reversal (ED/EDR), Adsorption Desalination). South Korea has resorted to desalination as a means of ensuring water security, and reverse osmosis (RO) is the industry leader in this field.RO is far more cost-effective than thermal desalination techniques like multi-stage flash (MSF) or multi-effect distillation (MED). It is a more appealing choice for large-scale water production due to its reduced energy usage and simpler infrastructure, which translate into cheaper operating costs. With the advancement of semipermeable membrane technology, RO membranes are now more efficient and require less energy to force saline water through them. This is in complete harmony with South Korea's emphasis on sustainability and minimizing desalination's negative environmental effects. Based on by Source the market can be categorized by Sea Water, Brackish Water, Surface Water (Rivers & Streams), Wastewater, Others (Industrial Process Water, Produced Water, Agricultural Runoff, Mining Effluents, Highly Saline Springs or Wells, Landfill Leachate, Tailings Pond Water). In fact, the South Korean water desalination market is seeing a considerable increase in the use of brackish water, which is somewhat salty but less concentrated than saltwater. There are several places in South Korea where brackish water is more easily accessible than seawater, especially those that are close to rivers and estuaries. For desalination projects, its broader dispersion makes it a more handy and approachable source. Compared to treating seawater, desalting brackish water requires a lot less energy. This is so that operating expenses can be reduced because less pressure is needed to force water through the RO membranes due to the lower salt concentration. Based on By Application the market can be categorized by Municipal, Industrial, Others (Agriculture, Power & Energy, Tourism, Military, etc.). Climate change, irregular rainfall patterns, and rising population needs are all contributing to South Korea's developing water shortage. Particularly in times of stress or drought, desalination can be used to augment already available freshwater sources and offer municipalities a consistent supply of water. Through effective pilot programs and education, worries about the high cost and possible environmental effects of desalinated water are increasingly being addressed. As a result, desalination is becoming more widely accepted and willingly considered as a feasible alternative for the public water supply. Considered in this report: • Geography: South Korea • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report: • South Korea Water Desalination market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Technology: • Reverse Osmosis • Multi-Stage Flash (MSF) Distillation • Multi-Effect Distillation (MED) • Others (Vapour Compression Distillation (VCD), Mechanical vapour compression (MVC), Solar desalination, Hybrid systems & Electrodialysis/Electrodialysis Reversal (ED/EDR), Adsorption Desalination) By Source: • Sea Water • Brackish Water • Surface Water (Rivers & Streams) • Wastewater • Others (Industrial Process Water, Produced Water, Agricultural Runoff, Mining Effluents, Highly Saline Springs or Wells, Landfill Leachate, Tailings Pond Water) By Application: • Municipal • Industrial • Others (Agriculture, Power & Energy, Tourism, Military, etc.) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Water Desalination industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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