Butterfly Valve Market to grow at a CAGR of 4.5% during 2024-2028
The Butterfly Valve Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.52 billion. Additive manufacturing, also known as 3D printing, is revolutionizing industries with its ability to produce complex components at a rapid pace. At the forefront of this innovation is the butterfly valve market, where additive manufacturing is transitioning from prototype and testing to mass production. Techniques such as computer numerical codes, cast urethane, binder jetting, sheet lamination, vat photopolymerization, and directed energy deposition are being employed to create finished or semi-finished butterfly valve components. This technology enables manufacturers to experiment with various material components, allowing for enhanced fluid flow optimization and design flexibility. Ultimately, additive manufacturing is streamlining production processes and driving efficiency in the butterfly valve industry.
Get more information on Butterfly Valve Market by requesting a sample report
Technavio analysts predict that the Oil and gas Industry subsegment will lead the End-user segment during 2024 and 2028 In the oil and gas industry, butterfly valves play a pivotal role in the entire supply chain. The oil and gas industry is expected to experience significant growth during the forecast period, with butterfly valves playing a crucial role in piping systems, especially in crude oil processing and refining. Their demand stems from effective fluid flow regulation in high-pressure environments. In the upstream sector, where quality inspection and material containment are vital, butterfly valves are favored for their low maintenance and high-pressure tolerance. Lined butterfly valves, available in both centric and eccentric designs, are specifically engineered for the challenges of chemical processing, including handling corrosive substances and minimizing wear and leakage.
These valves are manufactured from stainless steel, nickel alloys, exotic metals, and composites like reinforced nylon and fiberglass. Butterfly valves are also utilized in water treatment, electric power generation, and municipal wastewater facilities. The increasing adoption of automation, including pneumatic devices and smart valves with sensors, enhances fluid control and process efficiency. Their quarter-turn operation facilitates integration with measurement instruments and control systems, ensuring minimal downtime and maximizing productivity.
Here are the various ways based on which the market is segmented:
Reasons to Purchase the Global Butterfly Valve Market Market Research Report by Technavio. What is in it for you?
There are several factors that are causing the market to flourish recent product developments of butterfly valve
Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report
The Butterfly Valve Market encompasses a wide range of industrial valves used for fluid flow regulation in various industries, including chemical processing, water and wastewater, electric power, and crude oil processing. These valves are known for their quarter-turn operation, making them an ideal choice for automated processes. Butterfly Valves come in different materials such as Reinforced Nylons, Composite Materials, Exotic Metals, and Nickel-Alloys, catering to diverse applications. Leakage issues and wear and tear are common challenges in the industry, leading to the development of advanced solutions like Eccentric Butterfly Valves, Centric Butterfly Valves, and Lined Butterfly Valves. The chemical processing industry is a significant consumer of Butterfly Valves due to their ability to handle harsh chemicals. The use of resilient seats and smart technologies like remote monitoring and automation further enhances their performance and reliability. Moreover, Butterfly Valves are increasingly being adopted in sectors like Food and Beverage and Pharmaceuticals, where hygienic valves made of Stainless Steel are essential. The market for Butterfly Valves is expected to grow significantly due to the increasing demand for efficient and cost-effective flow regulation solutions. In conclusion, the Butterfly Valve Market offers Engineering Solutions for various industries, addressing the need for fluid flow regulation using innovative materials like Reinforced Nylons, Composite Materials, Exotic Metals, and Nickel-Alloys, and advanced technologies like Smart Technologies and Automation.
The industrial machinery and supplies and components market encompasses businesses involved in the production of machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers supplying equipment for industrial applications. Factors driving growth in this market include expanding industrial production in process and discrete industries, particularly in developing countries, leading to increased demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages.
The Butterfly Valve Market is experiencing significant growth, fueled by the recent product developments of butterfly valve. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
