Butterfly Valve Market Forecasts to 2028 – Global Analysis By Product (Rubber Lined Butterfly Valve, Metal Lined Butterfly Valve and Other Products), Type (High-Performance Butterfly Valves, Lined Butterfly Valves and Other Types), Material Type (Cast Iro

Butterfly Valve Market Forecasts to 2028 – Global Analysis By Product (Rubber Lined Butterfly Valve, Metal Lined Butterfly Valve and Other Products), Type (High-Performance Butterfly Valves, Lined Butterfly Valves and Other Types), Material Type (Cast Iron, Stainless Steel and Other Material Types), Design, Function, End User and By Geography

According to Stratistics MRC, the Global Butterfly Valve Market is accounted for $12339.83 million in 2022 and is expected to reach $19910.41 million by 2028 growing at a CAGR of 8.3% during the forecast period. A butterfly valve is a valve used to control or obstructs flow that is made out of a spinning circular plate or a pair of hinged semicircular plates attached to a transverse spindle and installed inside a pipe. A butterfly valve is a shut-off valve used in a variety of industrial applications to isolate and regulate the flow of fluids and gases. Another name for it is a quarter-turn valve. The butterfly valve has a straightforward design that starts and stops the flow of fluid through a disc that is positioned in the middle of a pipe and rotates either sideways or on uprights. The butterfly valve has two modes of operation: quarter-turn and rotating motion.

According to the National Bureau of Statistics of China, industrial production increased by 0.7% and 3.9% in May and June 2022, respectively.

Market Dynamics:

Driver:

Rising number of new launches

The market is becoming more competitive as a result of the rising number of new releases, which will eventually spur innovation and distinctiveness. Manufacturers also pay attention to new debuts since they encourage end customers to explore numerous novel butterfly valve kinds. For instance, Sylax 3 Lug design and wafer style butterfly valves have been introduced, according to Flomatic Corp., a maker of water valves and wastewater valves. The debut of the new butterfly valve 565, a comprehensive solution for the water industry that can address all the common problems customers have had with metal valves, was announced by Georg Fischer Piping Systems Ltd., a leader in the safe and reliable transportation of water, chemicals, and gases. These elements are anticipated to support the market under consideration's expansion.

Restraint:

Fluctuations in raw material prices

A major concern for vendors is a rise in raw material prices because it might lower their profit margin and play a significant role in regulating valve prices. Some of the main raw materials utilised in butterfly valves include copper, stainless steel, cast iron, aluminium, brass, and bronze. Some of the steel types that are widely utilised in the production of butterfly valves are austenitic stainless steel, low-temperature carbon steel, and high-temperature carbon steel. In addition to raw materials for the butterfly valve's main body, several grades and types of metals are needed for the valve's other components, including the bonnet, trim, disc, seats, stem, packing, and actuator. Manufacturers of butterfly valves are unable to pass on the rise in raw material costs to customers, which have a negative impact on their profit margins. These elements are predicted to impede the expansion of the butterfly valve market globally.

Opportunity:

Additive manufacturing gaining traction

Technology improvements are causing additive manufacturing to gradually gain applications in several industries, where it is transitioning from the level of prototype and testing to that of mass production. Some of the additive manufacturing processes in use today include cast urethane, binder jetting, sheet lamination, vat photo-polymerization, and directed energy deposition. Manufacturers of valves are now able to experiment with different material components to test the 3D printed valve models for fluid (liquid, gas, or oil) flow through the valve in addition to producing real functioning models of complex items with additive manufacturing. As a result, these investments are positioned to fuel the expansion of the target market.

Threat:

Increased competition from local producers

Limited throttling, growing competition from regional suppliers, a significant chance of cavitations, and choke flow are all expected to hinder the expansion of the butterfly valve sector. More and more domestic manufacturers, including those in India, are creating a range of valves that satisfy international standards, including severe-service valves. The majority of butterfly valve field issues are brought on by poor installation techniques. Turbulence influences the unguided disc movement of butterfly valves. Additionally, the high cost of producing industrial valves could have a detrimental effect on market expansion.

Covid-19 Impact

The pandemic has had a detrimental influence on demand for the foreseeable future in the commercial aerospace and general industrial end markets; the magnitude of this damage depends on future developments. The COVID-19 epidemic has had a tremendous impact on butterfly valve sales as well as economies all around the world. Despite the importance of producing these valves for the oil and gas industries, supply chain hiccups have temporarily halted operations. The degree of COVID-19 exposure a nation experiences, the efficiency of its manufacturing processes, and import-export regulations are just a few of the factors that affect when manufacturing and demand pick back up.

The centric butterfly valve segment is expected to be the largest during the forecast period

The centric butterfly valve segment is estimated to have a lucrative growth, due to the centric butterfly valve's seat is constructed inside the body as a sleeve or cartridge, the media travelling through the valve does not make contact with the body. The zero offset butterfly valve is capable of handling abrasive applications, coatings, food, specific powders, and chemicals. The use of centric butterfly valves is expected to rise as a result of these considerations.

The oil and gas industry segment is expected to have the highest CAGR during the forecast period

The oil and gas industry segment is anticipated to witness the fastest CAGR growth during the forecast period. The dependence of the world on oil and gas is increasing as the economies and infrastructure of the world continue to rely heavily on items made from petroleum. In the oil and gas sector, stainless steel butterfly valves are in high demand right now. Electric stainless-steel butterfly valves are more effective and offer a higher level of control than other kinds of valves. In addition, it is predicted that demand for butterfly valves would rise as shale gas utilisation increases as an energy source.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the factors like rising demand for water treatment across different nations, widespread use of valves in various end-use industry verticals, particularly in the oil and gas and water treatment industries, as well as an increase in refineries and chemical plants, Asia Pacific is currently dominating the global butterfly valves market. Additionally, it has been noted that valves are being consumed at a higher rate. Additionally, as passenger car sales rise, there is a greater need for petrochemical businesses to expand their production capabilities, which in turn fuels the global market for butterfly valves.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to an increase in the use of pipelines for the transportation of oil and gas, desalination initiatives, treatment in various processing industries, and water treatment facilities, consequently replenishing the need for butterfly valves in the area. The retrofitting and rehabilitation of outdated technologies is expected to increase consumer awareness in Europe. In addition, spending in the general and petrochemical industries is expanding, as are activities for exploration and production and investments in oil refining increasing the growth of the market.

Key players in the market

Some of the key players profiled in the Butterfly Valve Market include Curtiss-Wright Corporation, Emerson Electric Co., Alfa Laval Corporate AB, Pentair PLC, Flowserve Corporation, Crane Company, Weir Group PLC, AVK Group A/S, Schlumberger Limited, KSB SE & Co. KGaAVelan, Inc. and Honeywell International Inc.

Key Developments:

In July 2022, Emerson Electric Co. has introduced the TESCOM Anderson Greenwood Instrumentation H2 Valve Series for applications using hydrogen up to 15,000 psi (103.4 MPa). In high pressure gas applications like hydrogen filling stations and tube trailers, the innovative technology reliably isolates process pressure, lowering fugitive emissions and raising safety.

In November 2017, Weir BDK successfully secured contract of butterfly valves around US$ 1.58 MN in Sri Damodaram Sanjeevaiah thermal power station near Andhra Pradesh to ensure optimal service-life on their new valves and improve efficiencies across their power station.

In September 2016, AVK Armaturen delivered eccentric butterfly valves in order to clean water pump reservoirs to the clean water pump stations of the Walddorfer waterworks in Hamburg.

Products Covered:
• Rubber Lined Butterfly Valve
• Metal Lined Butterfly Valve
• Plastic Lined Butterfly Valve
• Other Products

Types Covered:
• High-Performance Butterfly Valves
• Lined Butterfly Valves
• Other Types

Material Types Covered:
• Cast Iron
• Stainless Steel
• Aluminium
• Other Material Types

Designs Covered:
• Centric Butterfly Valve
• Eccentric Butterfly Valve
• Other Designs

Functions Covered:
• On/Off Valve
• Control Valve
• Other Functions

End Users Covered:
• Oil and Gas Industry
• Power Generation Industry
• Water and Wastewater Industry
• Chemical Industry
• Pharmaceutical
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements