Northbrook, IL 60062 -- (SBWIRE) -- 01/05/2023 -- The global lined valve market size is estimated to be USD 3.4 billion in 2023 and is projected to reach USD 4.1 billion by 2028 at a CAGR of 4.2% according to a new report by MarketsandMarkets™. The growing necessity for ensuring a sterile environment with utmost purity for processes in the pharmaceutical industry, rising demand for IoT-integrated valves, and stringent regulations for adhering to the process safety regulations established by governments are major factors driving the growth of the lined valve market.
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Browse in-depth TOC on "Lined Valve Market"
168 – Tables
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204 – Pages
Based on type, ball valves are expected to register the highest CAGR during the forecast period from 2023 to 2028
In the case of lined ball valves, the thickness of the material helps to protect the valves completely from any chemical corrosion; hence it is considered an excellent choice for applications with a highly corrosive or abrasive environment, such as in chemical and pharmaceutical industries. Other benefits of lined ball valves include low pressure drop and relatively high flow capacity, thereby offering low turbulence to the fluid flow. In addition, lined ball valves are available in a wide variety of materials, making them suitable for the petrochemical and mining sectors.
Based on material, PTFE material is expected to register the highest CAGR during the forecast period from 2023 to 2028
PTFE valves offer a non-sticky texture, thereby ensuring lower friction to the flow of chemicals or fluid passing through them. PTFE lined valves offer effective resistance against corrosion and ensure optimum sealing, thereby preventing leakage. PTFE lined valves are suitable for high-pressure and high-temperature applications, making them a preferred choice across multiple sectors such as food & beverage, petrochemical, pharmaceutical, and chemical.
Based on industry, the pharmaceuticals industry is expected to register the highest CAGR during the forecast period from 2023 to 2028
Advanced tunnel boring machines (TBMs) are now used worldwide for highly efficient drilling through the Earth's crust. Full-face tunnel boring machine (TBM) tunneling has unparalleled advantages over conventional drill-and-blast (D&B) techniques in terms of higher advance rates and lower risk levels in favorable ground conditions. Autonomous haulage has helped mining companies to increase their fleet utilization rates, resulting in increased production.
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The lined valve market in Asia Pacific is expected to register the highest CAGR during the forecast period from 2023 to 2028
The lined valve market in Asia Pacific is driven by a few fast-growing economies, such as China, Japan, Taiwan, India, and Southeast Asian countries, that are expected to hold growth opportunities for industries such as chemicals, petrochemicals, and the semiconductor industry. In India, the demand for lined valves from the oil & gas industry is due to offshore explorations and the development and expansion of oil and gas pipeline infrastructure. Lined valves are frequently deployed in pipelines, propelling their demand in the upstream and midstream sectors of the oil & gas industry. According to the Japanese government's panel on future investments, there is a need to shift the manufacturing base of high value-added products and other goods manufactured across Southeast Asia to the country. This shift would increase the demand for lined valves for the new facilities in the coming years.
Major companies operating in the lined valve market include Emerson (US), Flowserve Corporation (US), Crane Co. (Sweden), Neles (Finland), KITZ Corporation (Japan), Entegris (US), Samson (Germany), bray International (US), ChemValve-Schmid AG (Switzerland), and EBRO ARMATUREN Gebr. Bröer GmbH (Germany).