September 15, 2023 05:48 ET | Source: Research and Markets Research and Markets
Dublin, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The "Global Lined Valve Market by Type (Ball Valve, Butterfly Valve, Globe Valve, Plug Valve, Gate Valve), Material (Polytetrafluoroethylene (PTFE), Perfluoroalkoxy (PFA), Polychlorotrifluoroethylene(PCTFE) ), Industry and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering. Rubber Bearing Pad For Bridge
The lined valve market size is expected to grow from USD 3.4 billion in 2023 to USD 4.1 billion by 2028; it is expected to grow at a CAGR of 4.2% from 2023 to 2028
The lined valve market is comprehensively segmented in this report, offering insights into the overall market size and subsegments across various types, materials, industries, and regions. Stakeholders can gain a deep understanding of the market dynamics, expected scenarios, and key market drivers, restraints, challenges, and opportunities.
Key growth drivers for the lined valve market include the increasing adoption of IoT-integrated valves, particularly in industries where process purity is paramount, such as pharmaceuticals. Additionally, stringent process safety regulations mandated by governments worldwide are fueling the demand for lined valves.
In 2022, the estimated shipment value of lined valves is projected to range between 8.5 to 9.5 million units. These valves are crafted from materials like polytetrafluoroethylene (PTFE), perfluoroalkoxy (PFA), modified polytetrafluoroethylene (TFM), or polychlorotrifluoroethylene (PCTFE).
The Asia Pacific region, driven by its burgeoning urban population and increasing demand for electronics, particularly in countries like China and India, is a significant contributor to the lined valve market's growth.
China, known for its numerous medium-sized lined valve manufacturers, is also a key player in this market. In India, the energy and power sector is focusing on capacity expansion to meet growing energy needs, further boosting lined valve demand. Additionally, improving wastewater treatment infrastructure is driving demand in the region.
North America is experiencing market growth due to increased research and development activities related to automation using actuators in lined valves and rising demand for safety applications.
Key industry players in the lined valve market include Emerson, Flowserve Corporation, Crane Co., Neles, KITZ Corporation, Entegris, Samson, Bray International, ChemValve-Schmid AG, and EBRO ARMATUREN Gebr. Broer GmbH, among others.
Ball valve held the largest share, and butterfly valve held the second largest share of the lined valve market in 2022
The stem design of the lined ball valve offers an anti-blowout feature, which provides increased safety. In addition, every lined ball valve has its anti-static device that helps to protect against potentially dangerous electrostatic discharges, thereby driving their usage across multiple sectors such as chemical, petrochemical, and pharmaceuticals.
Butterfly valves are lightweight, compact, and a low-cost alternative to other valve types. Lined butterfly valves are suitable for applications that require constant torque and no maintenance, thereby increasing their adoption across sectors such as metals & mining and pulp & paper.
PTFE material held the dominating share, and PFA held the second largest share of the lined valve market in 2022
Polytetrafluoroethylene (PTFE) offers better sealing, non-viscosity, and higher lubrication, ensuring high chemical resistance and better durability. Hence, PTFE lined valves are widely used in high-grade alloys in corrosive applications in various industries such as pharmaceutical, chemical, petrochemical, pulp and paper, fertilizer, and metallurgical.
Polyfluoroalkoxy (PFA) is resistant to strong acids and insoluble in any solvent. These valves ensure high sealing performance in a wide range of temperature and pressure differences, thereby increasing their adoption across multiple sectors such as chemical, food & beverages, and power.
Chemical industry held the dominating share and petrochemical industry held the second largest share of the lined valve market in 2022
The chemicals industry is governed by regulations that vary with each country, and such variations in regulations place the entire industry at risk in terms of safety issues. Lined valves and positioners resolve these conflicting issues related to plant safety and harmful environmental emissions.
In addition, several government associations and organizations worldwide are working on chemical process safety in the plants, which will help drive the opportunity for the lined valve market around the world. The petrochemical industry needs deeper wells and longer pipelines.
It focuses on reducing production costs, using specialized and critical equipment, such as lined valves, especially in oil and gas plants. This industry's lined valves help identify fluid corrosivity, fluid erosion properties, and other parameters.
For more information about this report visit https://www.researchandmarkets.com/r/lotqsp
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