Slurry Valves Market Overview
According to research, the Slurry Valves market is projected to expand between 4% and 8% CAGR during the 2021 to 2031 assessment period. The growth of oil and gas sectors throughout the globe has resulted in a rise in demand for slurry valves.
Industries around the globe have been impacted by COVID-19-induced slowdown. Be it oil & gas or paper and pulp, which was heavily affected by the pandemic. Although proper policies from government to lift and stabilize industries and bring industries at pre-pandemic levels will prove to be optimistic measure and will uplift the market
What is Driving Demand for Slurry Valves?
Slurry Valves used to regulate the flow of slurries in process industries. Increasing concern for industry waste treatment is anticipated to augment growth for this market in the future. The recent increase in demand for this valves by pharmaceutical companies due to the outbreak of coronavirus has further boosted the market growth.
Growing demand for industrial valves in end-use sectors such as oil and gas, chemical, will drive growth of global market over the forecast period. Additionally, expanding offshore oil and gas projects throughout the world, as well as government attempts to replace outdated water pipelines in the developing economies, is likely to promote global growth.
Automation in in this market has been a prominent development in the last decade, due to increasing focus on precise positioning and automation of this valves. Automation also optimizes overall performance of this devices and increases efficiency.
The introduction of remote valves utilizing the industrial internet of things (IoT), which enhances operational performance and eliminates unexpected downtime, is likely to drive growth in the global slurry valves market over the projected period.
High price for fabrication of Slurry Valves may pose challenge to the market, although with increased application & demand, its price is anticipated to fall in near future.
Oil & Gas Industry to Likely to Augment Slurry Valves Sales
Oil & Gas industry, both downstream and upstream operations generate a high quantity of slurry products, which requires slurry valves for its operation. The upstream process includes transporting, extracting and reserving crude oil while the downstream includes the crude oil refinery process. This valves have been extensively used in oil and gas industry and is anticipated to fuel the growth of the market.
US Slurry Valves Market Outlook
The US government recently increased tariffs on imports of aluminum and steel. This increase includes a 25% increase in steel imports and a 10% increase in aluminum imports, which has negatively affected the US manufacturing sector.
Although this tariffs are intended to increase income from imports, however this step by government has negatively affected the US slurry valve market. Steel is widely used in the manufacturing of industrial valves, and the increasing steel tariffs is expected to hamper market growth.
U.S has one of the prominent paper & pulp industry around the globe, which uses significant number of slurry valves owing to which U.S. is anticipated to boost the market growth. Leading FMCG companies in the region are continuously collaborating with manufacturers to develop advance and sustainable solutions. This strategies will again prove to be beneficial for the slurry valves market in the long run.
APAC Demand Outlook for Slurry Valves
This region was severely hit by Covid-19 global pandemic, which resulted in region wide shut down. However the situation is expected to improve during the last few months of 2021.
Rapid industrialization rate in countries such as China and ASEAN countries in the last decade have resulted in increased demand for energy consumption and wastewater treatment resources, as incurred from the respective end use industry processes. As a result, demand for industrial valves is expected to record a notable surge in the upcoming years. Also increasing region’s offshore oil and gas activities is set to further uplift the global slurry valve in the assessment period.
Who are the Key Manufacturers and Suppliers of Slurry Valves?
Some of the leading manufacturers and suppliers of
- Parker Hannifin Corp
- Emerson Electric Co.
- Flowserve Corporation
- Pentair Valves and Controls
To fortify their business footprint, the respective OEMs have been employing omni-channel sales & distribution measures in domestic and overseas markets. To achieve the desired objective, strategic collaborations with regional manufacturing acting as a leverage for production and supply has been pursued by the OEMs.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
By Product Type:
- Wafer Type
- Lug Type
- Food Processing
- Pulp & Paper
- Polymers and Plastics Industry
- Municipal Sewage Treatment
- Oil and Gas
- North America
- Latin America
- East Asia
- South Korea
- South Asia & Pacific
- ASEAN Countries
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa