Supply & Demand Dynamics
Major worldwide demand drivers for valves are:
- Oil & Gas pipelines & transmission infrastructure
- Demand for petrochemical products in Africa (paints, polymers, plastics additives)
- Municipal, chemical and mining industries in the Asia Pacific
- New and more rigorous emission regulations
Asia Pacific, Europe, and North America are the largest markets by size.
In the Middle East, the drive to become a provider of final products and extract the maximum value from the hydrocarbon cycle should result in the increased demand for valves, as more refineries, pipelines and process facilities are required. In addition, manufacturing, process industries, and desalination plants would provide a boost to the demand for valves in the Middle East, as well.
Suppliers from Europe and the United States are the major players, with growing competition emerging markets such as India and China. The market is fragmented with the top 10 manufacturers accounting for around 50% of the cumulative market share. Major suppliers operating on a global scale are Pentair, Flowserve, Emerson, FMC, Crane Co, Cameroon, Kitz, AVK Group, Walworth and ITT Industries.
Italy and France are known as a global hub of valve manufacturing with a number of family-owned and smaller-sized manufacturers, such as Galperti, Dafram, ZaVeRo, Erreesse, Della Foglia, Boney Forge, SRI, Valvitalia and many more.
Lead times to manufacture valves vary from as low as 16 weeks to 70 weeks and largely depend on manufacture, type, size and class of valve and materials used. E.g. a standard 10" ball valve may take 18 weeks to manufacture, but a large size valve with Inconel and control system, , may take 70 weeks.