CHLORINE GAS VALVES MARKET REPORT OVERVIEW
The global chlorine gas valves market size was USD 87.72 million in 2023 and the market is projected to touch USD 119.55 million by 2032, exhibiting a CAGR of 3.50% during the forecast period.
Chlorine gas valves are specialized valves designed. It controls the flow of chlorine gas in a variety of industrial applications. Chlorine gas is needed in various fields of work that includes water treatment, chemical manufacturing, and disinfection processes. This gas has an unsafe characteristic. Hence, it is crucial to have reliable and secure valves for regulation of its flow. This regulatory flow ensures safety and operational efficiency.
Rising industrial expansion and increasing demand for effective control systems are supporting market progress. Evolution of technology such as smart features is offering numerous chances to grow market expansion in the coming future.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Temporary Closure of Industries
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
COVID-19 pandemic has affected the overall market. Sudden lockdown and restriction on staying at home has temporarily shut-downed many industries. This has resulted in hindrance of market growth. Disruption of supply chain has affected raw material shortage and its late delivery has hampered the market growth. Reduction of industrial operation and decrease demand from water treatment and chemical industries has slowed down sales of the devices which impede the market progression in the period of pandemic.
LATEST TRENDS
Merging of Technological Advancement Encourages Market Progress
Current trend in the market which is boosting the market growth is the integration of the advanced technologies with the valve systems. The use of IoT for making a valve smart that provides real-time monitoring and control is increasing demand for the item. Increasing integration of automated systems is another trend boosting market growth. It helps in optimization of processes and increases efficiency of the valve.
CHLORINE GAS VALVES MARKET SEGMENTATION
By Type
Based on type the global market can be categorized into bronze chlorine gas valves & brass chlorine gas valves.
- Bronze Chlorine Gas Valves: Bronze valve is used in many industries such as marine, plumbing system, and industrial sectors and it has high durability, corrosion resistance, and high-pressure ratings.
- Brass Chlorine Gas Valves: Brass valves are strong, durable, and high resistance to corrosion which is used in plumbing and industrial piping systems.
By Application
Based on application the global market can be categorized into oil and gas, chemical, & others.
- Oil and Gas: The valve system is used in the oil and gas industry for fuel oil transportation and turbine lube oil systems and it maintains a consistent temperature.
- Chemical: Valve is used in the chemical industry for the protection from harmful effects of chlorine and it provides high-level safety.
- Others: there are other sectors where this device is used such as pulp and paper mill systems, synthetic rubber industry, pesticides and solvent manufacturing industries and others.
DRIVING FACTORS
Rising Demand for Water Treatment Enhances Market Growth
One of the key attributes for the global chlorine gas valves market growth is the increasing demand for water treatment by the consumers. Water purification process requires a valve for which provides safety and drinkable water supply. Hence, through this process demand for the produce is increasing for cleaning water and encourages market growth. Furthermore, the chemical manufacturing industry needs chlorine gas for various production processes. Expansion of the chemical industry is fueling demand for the products and impelling the market growth.
Imposition of Strict Safety Regulation Boost Market Growth
Another growing aspect to expansion of market growth is the imposition of strict and safety regulation by the government. Growing emphasis on industrial safety and environment standards are highly dependent on valves. It is used for prevention of spills, leaks, and mishaps while functioning. This aspect attracts attention on the benefits of the product which helps in the market expansion. Additionally, it is a corrosive gas which is necessary to employ specialist valves that are resistant to corrosion. Increasing requirements for corrosion-resistant materials and coatings in the valve are increasing demand for valves and consequently propelling market growth.
RESTRAINING FACTORS
High Cost and Lack of Skills Impede Market Expansion
The constraint factor for the expansion of the market growth is the high quality of the device and the lack of skill for installation and maintenance. Expensiveness of the devices due to its advanced control system and optimization of fluid handling is discouraging many small industries with financial constraint to spend a high amount of money and hence hindering the market growth. The limited specialized skilled person required for the installation and maintenance of the system is impeding demand. To maintain the complex function of the device restrains customers from installing the system is hampering market expansion.
CHLORINE GAS VALVES MARKET REGIONAL INSIGHTS
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
Asia Pacific Region Dominating the Market due to Rapid Industrialization
Asia Pacific has emerged as the most dominant region in the global chlorine gas valves market share due rapid industrialization of the region is increasing market expansion. Extensive investments in the construction of infrastructure in the emerging countries are raising demand for the device. China and India are the major contributors to market progress in the region. Adoption of automation in the manufacturing industries is making this region dominant. North America is witnessing significant market progress owing to the robust industrial infrastructure and increasing investment in the automation process. Implementation of advanced technologies for advancing the manufacturing process is boosting market growth. The U.S. is the main contributor to the market expansion in this region.
KEY INDUSTRY PLAYERS
Key Industry Players Shaping the Market through New Launch of Product and Market Expansion
Many prominent industry players are operating in this market focused on launching new products to cater consumers’ needs and be in the competition. There are many companies in the market that use some techniques such as merger, acquisitions, partnership and using new advanced technologies for producing and developing new products and stay ahead in the market.
List of Market Players Profiled
- Sherwood Valve (U.S.)
- Hunt & Mitton (China)
- Valmet (Finland)
- Halogen Valve Systems (U.S.)
- CPV Manufacturing (U.S.)
- KLINGER Schöneberg (Germany)
- Controlmatik ABW (Slovenia)
- Muller Gas Equipment (Denmark)
- Tekno Valves (India)
- Dixon Valve & Coupling Company (U.S.)
INDUSTRIAL DEVELOPMENT
July 2023: Renishaw and Kent Introl announced their partnership to initiate additive manufacturing to the U.K.oil and gas industry. Kent Introl has become the first valve parts manufacturer in the county who adopted AM technology and installed Renishaw’s system at its Brighouse headquarters.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
