Global Chemical Valves Market is segmented By Type (Rotary Valves, Linear Valves), By End-user (Oil & Gas, Water & Wastewater Treatment, Energy & Power, Pharmaceuticals), and By Region (North America, Europe, South America, Asia Pacific, The Middle East, And Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
The Global Chemical Valves Market is estimated to reach a CAGR of 5.5% during the forecast period (2024-2031).
Chemical valves are a type of valve that operates to control certain conditions including media, flow, pressure, temperature, and liquid level. Additionally, they work by either opening or closing in their entire or partial capacity in response to certain criteria. It often operates through the use of signals that are programmed to have a set point for a predetermined process variable. Due to the use of chemicals, especially hazardous ones, being such a precise process, the control valve must often perform to exacting standards.
Market Summary
| Metrics | Details |
| Market CAGR | 5.5% |
| Segments Covered | By Type, By End-user, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The market is driven by increasing demand from end-use industries such as water & wastewater treatment, oil & gas, and the energy & power industry. Moreover, the increasing adoption of industrial automation is increasing the use of smart control valves. Hence it is further expected to boost the market growth over the forecast period. Furthermore, growing power generation plants across the globe and the increasing need for energy and power from developing economies are driving the demand for control valves.
Increasing Demand in Oil and Gas Industries.
High-temperature, High-pressure and adverse corrosion conditions experienced with production and refineries platforms have led to a rise in demand for chemical valves. Such platforms are mainly used in offshore and onshore oil & gas activities. They are used in most of the essential mechanisms in the oil & gas industries. Therefore, It not only controls the flow, but also the volume, direction, rate, and pressure of fluids. Hence, these properties led to an increase in the demand for chemical valves.
Increasing end-users profitability
Control valves are used in process industries such as oil & gas, water & wastewater, food & beverages, energy & power, petrochemical, and pharmaceutical to catering growing automation needs. Control valves play a vital role in increasing the end-use industry’s profitability, safety, and efficiency for multiple production processes. Moreover, the adoption of control valves in industries is constantly rising owing to the benefits they offer in terms of temperature or pressure control throughout downstream, midstream, and upstream activities.
COVID-19 Impact on Market
The COVID-19 pandemic has forced governments globally to take drastic measures to protect public health in 2020. The global health crisis has also weakened economic growth prospects and affected the oil market. Since the beginning of 2020, crude oil prices have decreased dramatically. Furthermore, consumer demand has declined following the continued spread of the virus and its negative impact on the economy, which, in turn, has led to a disagreement between two of the largest oil producers, Russia and Saudi Arabia. All these factors have led to a decrease in the growth of the chemical valve market.
In the pharmaceutical sector, chemical valves witnessed surging demand during the pandemic. There is an upsurge in the production of critical medical devices that are required to cure COVID-19 patients. Chemical valves play a crucial role in the manufacturing of different types of medical devices, and various key industry players have grabbed the opportunity to contribute to the fight against the pandemic. Product manufacturers are increasingly investing in the research and development of automatic components, such as solenoid valves, that are supplied to the pharmaceutical industry.
Market Segment Analysis
Based on the type, the chemical valve market has been classified into rotary valves and linear valves.
Rotary valves to account for the highest share of the control valve market by 2028
Rotary control valves are expected to hold the highest share of the control valve market during the review period. Rotary valves are less prone to clogging in dirty service applications, and through stem packing, emissions can be controlled effortlessly, without using costly bellows seals. Additionally, the smaller size and lighter weight of rotary valves contribute to the constantly increasing demand for these valves. Moreover, rotary valves are the formation of a virtually obstruction-free path for the fluid when the valve is wide open.
Based on the industry, the chemical valves market has been classified into oil & gas, water & wastewater treatment, energy & power, pharmaceuticals
Oil & Gas accounted for the highest market share
The oil & gas industry accounted for the highest market share of the control valve market owing to the rising energy demand and increasing drilling activities in the Gulf Cooperation Council (GCC) countries. However, due to COVID-19, major oil-producing companies are running out of space to store the extracted oil, while the oil demand has decreased drastically, which has created a huge demand-supply gap. Oil & gas is one of the key industries for control valves, but the pandemic has severely affected the control valve market to a significant extent.
Market Geographical Share
Based on geography, the study analyzes the chemical valves market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America to witness the highest CAGR in the chemical valve market during the forecast period
Rising R&D activities in the region regarding the use of valves in automation and the increasing demand for safety applications are the two main factors driving the growth of the market in North America. Moreover, R&D at industry levels is broadening the application areas of valves in industries, such as energy & power, and chemicals, especially in the US. Furthermore, control valves are used in oil & gas, energy & power, and water & wastewater treatment industries to control media flow through a system, as well as to start, stop, or throttle the flow and to ensure safe and efficient process automation.
Companies and Competitive Landscape
The chemical valve market is highly competitive, owing to the presence of big brands. The key chemical valves players which are contributing to the growth of the global market include Christian Burkert (Germany), Emerson (US), Flowserve Corporation (US), Cameron (Schlumberger Company) (US), IMI PLC (UK), Neles Corporation (Finland), Crane Co. (US), Samson Controls (US), Kitz Corporation (Japan), Neway Valve (China), Ham-Let (Israel), Trillium Flow Technologies (UK), Alfa Laval (Sweden), Apollo Valves (US), Spirax Sarco (UK), Curtiss-Wright Corporation (US), Dwyer Instruments (US), AVK Holdings A/S (Denmark), Velan, Inc. (Canada), Swagelok (US), and Avcon Control (India)
Flowserve Corporation
Overview: The Flowserve Corporation is an American-based multinational corporation. It is one of the largest suppliers of industrial and environmental machinery such as valves, pumps, end face mechanical seals, automation, and services to power, oil, gas, chemical, and other industries. The company is headquartered in Irving, Texas, a suburb of Dallas. It has over 18,000 employees in more than 55 countries. It sells products and offers aftermarket services to engineering and construction firms, original equipment manufacturers, distributors, and end-users. The Flowserve brand name originated in 1997 with a merger of BW/IP and Durco International.
Product Portfolio: The company's portfolio comprises actuators, ball valves, butterfly valves, control valves, plug valves, end-face mechanical seals, pumps, and others.
Why Purchase the Report?
- Visualize the chemical valves market segmentation composition by type, end-user, and region, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the chemical valves market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of chemical valves market - level 2 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global Chemical Valves Market report would provide access to approx. 80 market data tables, 55 figures, and 180 pages.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
