Global Steel and Alloy Casting Valves Market By Type (Plug Valves, Butterfly Valves, Ball Valves, Gate Valve), By End-Use Industry (Pharmaceutical, Food & Beverage, Chemical, Energy & Power), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Valves are devices used to change the passage sections and the flow direction of mediums such as gases, liquids, etc., by opening, closing, or partially obstructing the pathway of a given material. It has functions such as cutoff, diversion, throttling, check, regulation, and split or overflow relief.

Valve castings are typically control components in the pipeline fluid delivery systems. These valves come in a wide variety of sizes. Valve castings are extensively used in petrochemical, chemical, paper, petroleum, electric power, mining, food, liquefied petroleum gas, water supply, pharmaceutical, mechanical equipment, municipal, electronics, urban construction, as well as other fields.

Steel gate valve castings are usually used for water, steam, oil, air, gas, and non-acid fluids. These type of valve castings are especially designed to withstand high temperatures as well as loads. In addition, these casting valves can be customized as per the requirements of end-users.

On the other hand, ball valve castings are typically utilized in railway industries in air dryer systems. Valve casting parts are manufactured using different casting processes such as sand casting, lost wax casting, and lost foam casting.  Sand casting is mostly suitable for both iron and steel valve castings. This industry has come a long way since its use for earlier industrial applications.

It should be noted that increasing demographic dividends, surging per capita disposable incomes, and increasing industrialization levels are also crucial factors anticipated to augment the financial trajectory of the global steel and alloy casting valves market over the forecast period.

Detailed Segmentation:

The global steel and alloy casting valves market is segmented on the basis of type, end-use industry, and region. the detailed segmental description is represented below:

Based on Type

• Plug Valves
• Butterfly Valves
• Ball Valves
• Gate Valve
• Other Types

Based on End-Use Industry

• Pharmaceutical
• Food & Beverage
• Chemical
• Energy & Power
• Other End-Use Industries

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics

Increasing industrialization as well as urbanization levels are significant factors that are anticipated to bolster projected revenues for the steel and alloy casting valves market. Moreover, the easy availability, installation & operation of these casting valves has led to the boosting of this industry as a whole over the forecast period.

In addition, the steady surge in the demand for food from developing nations such as India, Brazil, etc., is likely to propel market growth opportunities for the food & beverage processing industry. This in turn, is slated to bolster the revenue trajectory of the global steel and alloy casting valves market globally.

Casting valves require regular greasing & oiling, maintenance, as well as the replacement of various parts owing to the frequent abrasion of materials flowing through it. These aforementioned parameters have led to high expenditure costs necessary for the maintenance of valves, which in turn, is likely to restrain potential revenue growth opportunities for the global steel and alloy casting valves market to certain extent.

However, the integration of Artificial Intelligence (AI) & the Internet of Things (IoT) in manufacturing processes under “Industry 4.0”, upgradation is also expected to create favorable opportunities for the global steel and alloy casting valves market.

The COVID-19 pandemic has impacted various industries such as manufacturing, construction, mining, hotel, and tourism industries. In addition, the production-related activities were also halted or restricted due to the scarcity of labor.

Additionally, transportation activities, coupled with their respective supply chains were negatively impacted on a global-level. This led to the decline in the production of casting valves, which in turn, negatively impacted the global steel and alloy casting valves market.

However, most industries are now beginning to resume their manufacturing operations and services at a gradual pace. This is further anticipated to help this market in recovering by end of 2021.

Competitive Landscape:

• AZ Armaturen GmbH
• Schlumberger Limited
• Chemtrols Industries Pvt. Ltd.
• Franklin Valve Company
• Galli & Cassina
• Ghatge Patil Industries Ltd.
• Idex Corporation
• Larsen & Toubro Limited
• Trillium Flow Technologies
• Flowserve Corporation

These mentioned companies develop new products/services, adopt expansion strategies, and undertake partnerships, collaborations, and mergers & acquisitions to stay ahead of their other competitors in the global steel and alloy casting valves market.

For the Steel and Alloy Casting Valves Market research study, the following years have been considered to estimate the market size: