Maritime Policies Create Huge Opportunities for the Asia Pacific Ballast Water Management Market, Finds Frost & Sullivan

Maritime Policies Create Huge Opportunities for the Asia Pacific Ballast Water Management Market, Finds Frost & Sullivan PR Newswire KUALA LUMPUR, Malaysia, Oct. 2, 2012 - Participants need to sensitize ship owners on the importance of ballast water treatment KUALA LUMPUR, Malaysia, Oct. 2, 2012 /PRNewswire/ -- The ballast water management (BWM) guidelines set by the International Marine Organization (IMO) has kick-started a fresh industry within the shipping sector, as ship owners look to adopt ballast water systems within their vessels. Water treatment companies have found a whole new market ready for penetration and are eager to carve their place in it. New analysis from Frost & Sullivan (http://www.environmental.frost.com), Ballast Water Treatment Market in Asia- Pacific, finds that the market earned revenues of over US$214.6 million in 2011 and estimates this to reach US$3.63 billion in 2017. The IMO guidelines drive this nascent market, as they set compliance targets and timelines for existing and new vessels until 2020. The highest demand for BWM systems is expected from the construction of new vessels, as these will be the least costly to incorporate, although existing vessels are likely to generate revenue in the long term. "The number of countries endorsing BWM is growing, as member nations of the IMO understand the impact cross-ocean contamination has on local marine biodiversity," said Frost & Sullivan Research Associate Prashanth Kay.