Press release
Lined Valve Market Growth, Analysis, Latest Trends and Forecast till 2027
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Drivers: Growing chemical industry to drive the market growth
The demand for new chemical products in the modern world is significantly driven by greenhouse gas (GHG) mandates across industries, electric vehicles, and 3D printing technology. The growing demand from the new application areas drives innovation in the industry, and chemical companies are setting up to make the most of the new opportunities. The industry players are involved in mergers & acquisitions to extend their product portfolio, expand to new geographies, and thrive on new business opportunities. Additionally, introducing new chemical plants is driving the demand for line valves. In January 2022, ExxonMobil Chemical Co. (US) announced the initiation of a new manufacturing facility in Texas, US, under its joint venture with SABIC (Saudi Arabia).
Furthermore, planned expansion projects are likely to drive market growth. In July 2022, BASF (Germany) started the final phase of an expansion project for the methylene diphenyl diisocyanate (MDI) plant at its Verbund site with an investment of USD 780 million. The investment will double production capacity at the company's Ascension Parish chemical manufacturing complex.
Challenge: Lack of standardized policies
Valve manufacturers must adhere to the different certifications and policies of different regions regarding valves. This factor creates diversity in product specifications due to the widespread applicability of valves in various end-user industries. However, this diversity is hindering the growth of the lined valve market, as industry players have to amend the same product according to regional policies, making it difficult for valve manufacturers to achieve an ideal installation cost. They must set up manufacturing facilities across regions to resolve this issue, resulting in additional capital investments.
Lined Valve Market, by Type
Ball Valves
Butterfly Valves
Globe Valves
Plug Valves
Gate Valves
Lined Valve Market, by Material
PTFE
PFA
TFM
PCTEF
Others
Lined Valve Market, By Region
North America
Europe
APAC
RoW
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Key Market Players
A few of the key players in the lined valve market are Emerson (US), Flowserve (US), Valmet (Finland), Crane Co. (US), KITZ Corporation (Japan), Trillium Flow Technologies (Scotland), Bray International (US), EBRO Armaturen (Germany), Samson Group (Germany), and Klinger Group (Austria).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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