Asia Pacific- Increasing Applications in Chemical Industries Rising the Market of Control Valves

The global market for stainless steel control valves (less than 2 inches) has been covered under the scope of this report. Control valves can be defined as a device which modulates the flow of fluids at various degrees in accordance with signals received from an external control device. It is also referred to as ?the final control element? and performs functions that directly affect the process.

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The global stainless steel control valves (less than 2 inches) market is primarily driven by factors such as its increasing applications in chemical industries of APAC, growing importance of wastewater management across different countries in the globe and rapid growth of semiconductor & electronic manufacturing industries. Moreover, due to the hygiene and time efficiency factor, pharmaceutical companies are investing on sophisticated small scale fluid handling systems, which in turn are expected to result in increased demand for stainless steel control valves (less than 2 inches). Considering these positive factors, the demand for control valves is set to rise during the forecast period from 2015 - 2023.

By actuation technology, the market has been sub-divided into manual, pneumatic, hydraulic and electric. Electric control valves was the largest segment in 2014 and growth of applications of these types of control valves is driven by factors such as increase in demand for small scale fluid handling systems in industrial automation projects and growing penetration of wastewater management systems globally. Electric stainless steel control valves (less than 2 inches) provide high degree of flexibility and scalability of operation while used in wastewater management projects.

Based on type, the global stainless steel control valves (less than 2 inches) market can be segmented into five segments namely ball valve, butterfly valve, cryogenic valve, globe valve and others. Stainless steel butterfly control valves (less than 2 inches) garnered the maximum revenue in 2014. Extensive applications of stainless steel butterfly control valves (less than 2 inches) across various industrial sectors have been the primary driving factors for the growth of this segment.

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The stainless steel control valves (less than 2 inches) market by end-use industry is divided into six segments namely power generation, oil & gas, chemical industry, semiconductor & electronics manufacturing, wastewater management and others. The power generation industry was the largest individual contributor in the stainless steel control valves (less than 2 inches) market in 2014 and is expected to retain its position throughout the forecast period. The stainless steel control valve (less than 2 inches) applications in the power generation sector are primarily driven by the increase in demand for power globally and investments in the industrial infrastructure projects in emerging economies such as China, India and Brazil.

Control valves market has been segmented into broad geographic regions such as North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW). APAC occupied the largest share of the market in 2014 accounting for more than 40%. The demand for stainless steel control valves (less than 2 inches) is expected to remain high in the region as a result of growth across various industry verticals.

Some of the major players in the market are: Emerson Electric, Co. (U.S.), Flowserve Corporation (U.S.), IMI Plc (U.K.), Metso Corporation (Finland), Pentair, Plc (U.K.), General Electric, Co. (U.S.), MIL Controls Limited (India), Samson AG (Germany), SVF Flow Controls, Inc (U.S.), Crane & Co. (U.S.), Velan Inc. (Canada), Armstrong International, Inc.(U.S.), Kimray Inc. (U.S.), Christian Burkert GmbH & Co. KG (Germany), Swagelok Co. (U.S.), Cameron International Corporation (U .S.), CIRCOR International, Inc. (U.S.) and Richards Industries, Inc. (U.S.) among others.

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