Press release
Diaphragm Valve Market Opportunity and Forecast to Reach $541 million by 2032
According to Research, The diaphragm valve market size was valued at $312.4 million in 2022, and is estimated to reach $541 million by 2032, growing at a CAGR of 5.6% from 2023 to 2032.Depending on type, the weir segment dominated the diaphragm valve market in 2022, and straightway segment it is expected to grow at a significant CAGR during the forecast period. This is attributed to the fact that weir-style diaphragm valves are particularly well-suited for hygienic applications where maintaining sterility and preventing cross-contamination are paramount.
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The growth in preference of valves is due to its sustainable and innovative smelting, mining, mineral recovery, and recycling technology. The major key players in diaphragm valve market are focused on development of alloy-based valves, owing to the benefits such as high durability, high electrical resistance, increased toughness, and high temperature sustaining capacity. All these benefits foster the demand for alloy-based valves that subsequently drive the diaphragm valve market growth.
The utilization of high-efficiency valves in the chemical industry is anticipated to grow, owing to the necessity for safe chemical handling. Different chemicals have different properties such as corrosiveness, alkalinity, and others, which make chemical handling very risky.
Industries adopt automatic industrial valves to reduce human interference in the pipe system, which reduces accidents and fatalities. Major players in the valve and valve automation industry offer specialized solutions to automate the operation of valves in chemical processing applications. such factors will drive the diaphragm valve market growth.
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Asia-Pacific is witnessing significant growth in the energy sector, including oil & gas exploration, refining, and power generation. Diaphragm valves are critical components in these energy-related applications, driving their demand and dominance in the region. Moreover, expanding oil & gas extraction increases the demand for diaphragm valves, which is expected to boost growth of the diaphragm valve market share. For instance, the Government of Australia invested around $2 billion in 2023 in new oil & gas development projects in the Northwest Shelf.
Top Players:
Competitive analysis and profiles of the major players in diaphragm valve market that have been provided in the report include Metso Corporation, Mival S.p.A, Bray International Inc, Parker-Hannifin Corporation, Arita Valves Manufacturing Co., Ltd, Velan Inc., Flowserve Corporation, SchuF GmbH, Nihon Kogyo Co., Ltd., and Samson AG. Major strategies such as contracts, partnerships, expansion, and other strategies of players operating in the market are tracked and monitored.
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Key Findings of the Study
The report provides an extensive analysis of the current and emerging global diaphragm valve market trends and dynamics.
Depending on product type, the weir segment has dominated the diaphragm valve market, in terms of revenue in 2022.
By end user, the oil & power segment has registered its highest revenue in 2022 in diaphragm valve market.
By material, the steel segment has registered highest revenue in 2022.
Asia-Pacific is projected to register the highest growth rate in the coming years.
The key players within the global diaphragm valve market are profiled in this report, and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the diaphragm valve industry.
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