Butterfly Valve Market Size 2024-2028
The butterfly valve market size is forecast to increase by USD 2.52 billion at a CAGR of 4.5% between 2023 and 2028.
- The market is experiencing significant growth, driven by the increasing demand for efficient and cost-effective valve solutions in various industries, including power generation and wastewater treatment. One of the key trends shaping the market is the adoption of additive manufacturing for producing butterfly valves, offering customization and reduced lead times. However, the market is also challenged by the volatility in raw material prices, particularly for stainless steel and composite materials, used extensively in butterfly valve manufacturing. Furthermore, the integration of IoT sensors, instrumentation valves and fittings, and automotive technologies is transforming the market, enabling real-time monitoring and predictive maintenance.
- The use of fiberglass and composite materials in butterfly valves is also gaining popularity due to their lightweight and corrosion-resistant properties. Crude oil prices and their impact on the energy sector are another critical factor influencing the market's dynamics. Overall, the market presents a compelling growth opportunity for manufacturers and suppliers, with continuous innovation and technological advancements expected to shape its future.
What will be the Size of the Butterfly Valve Market During the Forecast Period?
- The market encompasses various types of valves, including solenoid valves, limit switches, and valve bodies, which are integral components of process control systems. These valves cater to diverse applications, such as remote operation and automation systems, and include gate valves, shut-off valves, regulating valves, diaphragm valves, and more. Sensor technology and control systems play a pivotal role in enhancing the functionality of these valves, enabling features like wireless control and predictive modeling. Ball valves and check valves are also essential components of the market, with ball valves offering quick actuation and check valves ensuring unidirectional flow. The integration of artificial intelligence (AI) and data analytics further bolsters the market's growth, enabling advanced process optimization and maintenance.
- Valve types like isolation valves, throttling valves, pinch valves, and non-return valves cater to specific applications, contributing to the market's rich diversity. The evolution of automation systems and the increasing emphasis on data-driven decision-making are key market trends, fostering innovation and growth in the sector.
How is this Butterfly Valve Industry segmented?
The butterfly valve industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
- End-user
- Oil and gas Industry
- Water and wastewater industry
- Power generation industry
- Chemical industry
- Others
- Type
- High-performance butterfly valve
- Lined butterfly valve
- Mechanism
- Centric butterfly valve (Zero-offset)
- Eccentric butterfly valve
- Centric butterfly valve (Zero-offset)
- Eccentric butterfly valve
- Function
- On/Off butterfly valve
- Control butterfly valve
- On/Off butterfly valve
- Control butterfly valve
- Material Type
- Stainless Steel
- Cast Iron
- PVC
- Alloy
- Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Middle East and Africa
- UAE
- APAC
- China
- India
- Japan
- South Korea
- South America
- Brazil
- Rest of World (ROW)
- Rest of World (ROW)
- North America
By End-user Insights
The oil and gas industry segment is estimated to witness significant growth during the forecast period.
Butterfly valves play a crucial role in the oil and gas industry, particularly in upstream operations where they are widely used due to their ability to handle high fluid flows. The upstream sector's demanding conditions necessitate equipment with extended lifespans and resistance to harsh environments. Unconventional hydrocarbon resources, such as shale oil and gas, oil tar sands, and coal bed methane, have gained prominence in recent years with increased exploration activities. However, extracting and processing these resources requires precise control, which conventional methods cannot provide. Material selection is essential in creating explosion-proof butterfly valves suitable for the oil and gas industry.
Corrosion-resistant materials, such as stainless steel and duplex stainless steel, are commonly used to ensure durability and longevity. Industrial automation and predictive maintenance have become integral components of valve design, enabling condition monitoring, cycle life estimation, and pressure regulation. Oil and gas applications often involve high-pressure, high-temperature environments, necessitating the use of nickel alloys and bi-directional flow butterfly valves. Smart valves with metal seated designs, reduced bores, and resilient seats are increasingly popular due to their improved flow coefficient, process automation capabilities, and reduced pressure drop. These advancements contribute to the overall efficiency and reliability of pipeline systems, water treatment, and power generation processes.
In chemical processing, butterfly valves are employed for fluid handling and flow control applications. Material selection is critical in this sector, with carbon steel, cast iron, and abrasion-resistant materials being commonly used for specific applications. Low-pressure and fire-safe butterfly valves are essential in sewage and wastewater treatment, ensuring safe and efficient operation. The oil and gas industry's evolving landscape continues to drive innovation in butterfly valve technology, with a focus on improving cycle life, pressure regulation, and material selection to meet the demands of various applications.
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The Oil and gas Industry segment was valued at USD 2.76 billion in 2018 and showed a gradual increase during the forecast period.
Regional Analysis
APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The Metal Additive Manufacturing Market in APAC is experiencing substantial growth due to the expanding industrial sector, particularly in industries such as oil and gas, automotive, and chemical and petrochemical. This industrial expansion has led to an increase in onshore and offshore refining activities, making APAC an attractive investment destination for numerous companies. China and Indonesia are among the countries in the region investing heavily in new projects related to these industries. The region's advantages, including the easy availability of raw materials, low labor and land costs, and abundant business opportunities, contribute to this trend. In the oil and gas sector, the demand for corrosion-resistant and high-temperature materials, such as stainless steel, duplex stainless steel, and nickel alloys, is increasing due to the harsh operating conditions.
These materials are essential in various applications, including pressure regulation, flow control, and fluid handling. Predictive maintenance and condition monitoring are also becoming crucial in this sector to ensure the longevity of equipment and prevent costly downtime. The chemical processing industry also relies heavily on metal components, including carbon steel, cast iron, and material selection based on pressure drop and flow coefficient. The use of smart valves, such as those with bi-directional flow and metal seated, enables efficient process automation and reduced bore. Additionally, the increasing demand for water treatment and pipeline systems necessitates the use of materials with excellent abrasion resistance and operating life.
In the power generation sector, high-pressure and low-temperature applications require materials with resilient seats and pressure regulation capabilities. These materials are essential in ensuring the efficient and reliable operation of power generation systems. In summary, the Metal Additive Manufacturing Market in APAC is witnessing significant growth due to the industrial expansion in several sectors, including oil and gas, automotive, and chemical and petrochemical. The demand for materials with specific properties, such as corrosion resistance, high temperature, and pressure regulation, is driving the market's growth. Additionally, the adoption of advanced technologies, such as predictive maintenance, condition monitoring, and smart valves, is enhancing the efficiency and reliability of various industrial applications.
Market Dynamics
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
What are the key market drivers for the Butterfly Valve industry?
- Recent product developments of butterfly valve is the key driver of the market.
The market is experiencing significant growth due to the introduction of new product innovations. Manufacturers are launching various types of butterfly valves, including the Sylax 3 Lug style and wafer style butterfly valves by Flomatic Corp. In April 2020. These new developments cater to the evolving needs of end-users in industries such as oil and gas, chemical processing, and fluid handling. Butterfly valves are widely used in industrial automation for flow control and pressure regulation in high and low-temperature applications. Material selection plays a crucial role in the market, with options including cast iron, carbon steel, stainless steel, duplex stainless steel, nickel alloys, and more.
These materials offer benefits such as corrosion resistance, abrasion resistance, and fire safety. End-users prioritize predictive maintenance, condition monitoring, and remote monitoring to ensure optimal performance and extended cycle life. Butterfly valves come in various designs, such as single plate, double plate, and smart valves, catering to different pressure drops and flow coefficients. Additionally, butterfly valves can handle bi-directional flow and are available with metal seated or resilient seats. Manufacturers focus on providing butterfly valves for diverse industries and applications, including power generation, water treatment, pipeline systems, and sewage and wastewater. With the increasing demand for efficient flow control and pressure regulation, the market for butterfly valves is expected to continue growing.
What are the market trends shaping the Butterfly Valve industry?
- Additive manufacturing gaining traction is the upcoming market trend.
Additive manufacturing, also known as 3D printing, is revolutionizing the valve industry by enabling the production of intricate valve designs and facilitating material selection for various applications. Techniques such as computer numerical control (CNC), cast urethane, binder jetting, sheet lamination, vat photopolymerization, and directed energy deposition are being employed to create valve components with enhanced features and improved performance. This technology allows valve manufacturers to produce functional prototypes and experiment with different material combinations to optimize flow control, pressure drop, corrosion resistance, and cycle life. Material options include cast iron, carbon steel, stainless steel, duplex stainless steel, nickel alloys, and resilient seats, catering to industries such as oil and gas, chemical processing, fluid handling, power generation, sewage and wastewater, and water treatment.
Additive manufacturing also supports predictive maintenance and condition monitoring through smart valves and remote monitoring systems, ensuring optimal operating life and reducing downtime. Valve sizing and pressure regulation are also improved, enabling better flow coefficient and pressure drop management. By integrating additive manufacturing into industrial automation and process control systems, valve manufacturers can enhance overall system efficiency and reliability.
What challenges does the Butterfly Valve industry face?
- Fluctuations in raw material prices of butterfly valve is a key challenge affecting the industry growth.
Butterfly valves are essential components in various industries, including oil and gas, chemical processing, and fluid handling, for flow control and pressure regulation. The market for butterfly valves is influenced by several factors, including material selection and the specific application requirements. Raw material prices significantly impact valve prices, with steel, such as cast steel and carbon steel, being commonly used due to its strength and versatility. High-temperature carbon steel and low-temperature carbon steel are utilized based on the operating conditions, while corrosion-resistant materials like stainless steel, duplex stainless steel, nickel alloys, and abrasion-resistant materials are employed for specific applications.
End-users demand robust and durable butterfly valves, leading to the use of special metal grades like super austenitic stainless steel, super duplex steel, and nickel alloys. These materials offer superior corrosion and chemical resistance for high-demand applications. Additionally, advanced technologies like predictive maintenance, condition monitoring, remote monitoring, and smart valves are increasingly adopted for improved performance and extended cycle life. Materials like resilient seat and metal seated are used based on the specific application requirements, while valve sizing, pressure drop, and flow coefficient are essential considerations for optimal flow control in pipeline systems and power generation.
Exclusive Customer Landscape
The butterfly valve market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the butterfly valve market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Key Companies & Market Insights
Companies are implementing various strategies, such as strategic alliances, butterfly valve market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Emerson Electric Co. (United States) - Butterfly valves, a critical component in stainless steel pipe systems, cater to hygienic and high-purity process applications. These valves are renowned for their versatility and effectiveness in various industries, including pharmaceuticals, food and beverage, and chemical processing. Engineered for optimal performance, they ensure the maintenance of stringent process conditions, thereby contributing to the overall efficiency and productivity of the system. The use of premium materials, such as stainless steel, further enhances their durability and resistance to corrosion. With a focus on delivering superior quality and reliability, these butterfly valves meet the demanding requirements of modern process applications.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- Emerson Electric Co. (United States)
- Flowserve Corporation (United States)
- Crane Co. (United States)
- Kitz Corporation (Japan)
- AVK Holding A/S (Denmark)
- Bray International Inc. (United States)
- Cameron (United States)
- Velan Inc. (Canada)
- Weir Group PLC (United Kingdom)
- DeZURIK Inc. (United States)
- Metso Corporation (Finland)
- Spirax-Sarco Engineering plc (United Kingdom)
- NIBCO Inc. (United States)
- Mueller Water Products Inc. (United States)
- Powell Valves (United States)
- Xhval Valve Co., Ltd. (China)
- L&T Valves Limited (India)
- Hitachi Metals Ltd. (Japan)
- Hyper Valve (India)
- Zhejiang Sedelon Valve Co., Ltd. (China)
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Research Analyst Overview
The market encompasses a wide range of industrial valves utilized for flow control and pressure regulation in various industries, including oil and gas, chemical processing, water treatment, and power generation. These valves are distinguished by their unique design, which employs a disc or a flexible cap rotating around a shaft to regulate flow. Material selection plays a significant role in the market, with cast iron, carbon steel, stainless steel, duplex stainless steel, nickel alloys, and other materials being commonly used. The choice of material depends on the specific application requirements, such as corrosion resistance, high temperature, and pressure drop. Explosion-proof and fire-safe butterfly valves are essential in industries dealing with potentially hazardous environments.
These valves are designed to prevent the ignition of explosive gases or vapors and to contain fires. Industrial automation and process control systems have led to the increasing adoption of smart valves in the market. These advanced valves offer features such as predictive maintenance, remote monitoring, and condition monitoring, which enhance process efficiency and reliability. Butterfly valves are available in various designs, including single plate, double plate, full port, reduced bore, and bi-directional flow. The choice of design depends on the specific application requirements, such as operating life, pressure regulation, and flow coefficient. The market is driven by the increasing demand for flow control and pressure regulation in various industries.
Industrial growth, particularly in the oil and gas, chemical processing, and power generation sectors, is expected to fuel the market's growth. Fluid handling applications, such as sewage and wastewater treatment, also contribute significantly to the market. These applications require valves that can handle high volumes of fluid and withstand harsh conditions. High-temperature and high-pressure applications, such as power generation and pipeline systems, require butterfly valves made of materials like nickel alloys and other corrosion-resistant materials. These valves offer extended cycle life and improved operating life, making them ideal for demanding applications. In conclusion, the market is a dynamic and diverse industry that caters to the specific needs of various industries.
The market is driven by factors such as industrial growth, automation, and the need for reliable and efficient flow control and pressure regulation solutions. Material selection, design, and advanced features continue to shape the market's evolution.
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Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market growth 2024-2028 |
USD 2524.8 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.2 |
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Key countries |
US, China, Japan, Germany, France, Spain, Canada, India, South Korea, France, Japan, Italy, Brazil, UAE, UK, Spain, Rest of World (ROW), and Mexico |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What are the Key Data Covered in this Butterfly Valve Market Research and Growth Report?
- CAGR of the Butterfly Valve industry during the forecast period
- Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the butterfly valve market growth of industry companies
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