Valve Market to Hit $53 Billion By 2010

Valve manufacturers will generate sales of $43 billion this year up to $53 billion by 2010, fueled by new applications in developed countries and industrial expansion in developing nations, according to an online report, "Industrial Valves World Markets," by McIlvaine Company (www.mcilvainecompany.com).

The report shows oil and gas as the largest application sector, with 2006 sales of over $7 billion. According to McIlvaine, this sector is undergoing substantial change, as the rapid growth of liquefied natural gas (LNG) is presenting big opportunities for companies, which can meet the extreme pressure and temperature demands. McIlvaine says the development of nonconventional oil sources, such as tar sands, is also creating demand for rugged valve designs.

The report shows China as the leading purchaser of valves for new plants, while the United States remains the largest purchaser of repair parts. In the power sector, China is expected to purchase more valves for new power plants than the rest of the world combined. China is also a leader in most heavy industrial sectors.

The report shows environmental applications as a continuing growth area for valve suppliers. The remediation of ground water, desalination of seawater, and the conventional treatment of drinking water are also cited as growing sectors. Treatment of municipal wastewater in Asia is also expanding rapidly, according to McIlvaine. Double-digit growth is being experienced in the sales of valves for scrubber systems used for cleanup of exhausts from power plants and other industrial sources.