Global Hybrid Valve Market Forecast to 2024: Increasing Use of 3D Printers in Valve Manufacturing to Broaden the Growth Prospects

DUBLIN, Oct. 14, 2019 /PRNewswire/ -- The "Hybrid Valve Market by Material (Steel, Tungsten Carbide, Alloy, Titanium, Duplex Nickel), Valve Size, End-Use Industry (Oil & Gas, Water & Wastewater, Energy & Power, Chemicals, and others), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The hybrid valve market was valued at USD 988 million in 2018 and is projected to reach USD 1,419 million by 2024, at a CAGR of 6.4% from 2019 to 2024.

The need for controlling excessive noise, pressure, vibration, and cavitation in critical processes; and corrosion problems in the oil & gas industry are among the key driving factors for the hybrid valve market. Other factors fueling the growth of this market include the use of 3D printers in manufacturing lines and an increase in the number of refineries and petrochemicals and chemical plants worldwide. However, factors such as the high fabrication cost can hinder the growth of the hybrid valve market in the coming years.

A hybrid valve is specially designed using a disc stack for reducing cavitation, noise, and vibration that occur during high-pressure flow applications. A disc stack is designed with several holes on the periphery for easy transfer of gases and petroleum fluids; this disc stack is used in valves to reduce the flow pressure. Hybrid valves are widely used in various process industries such as oil & gas, energy & power, water & wastewater, chemical, pharmaceutical, metal & mining, and others for reducing pressure/vibration/noise.

The hybrid valve market has been segmented, based on material, size, end-use industry, and region. Based on material, the hybrid valve market has been segmented into steel, alloy, titanium, tungsten carbide, duplex nickel, and others (brass, bronze, and plastic). Hybrid valves are used in various end-use industries such as oil & gas, energy & power, water and wastewater, chemical, pharmaceuticals, metal & mining, food & beverage, and others.

Emerson (US), Trillium Flow Technologies (US), Parcol S.P.A (Switzerland), Flowserve Corporation (US), and IMI Plc. (UK) are some of the players operating in the hybrid valve market.

These players mostly adopted product launches and acquisitions as their main strategies from 2015 to 2018.

Key Topics Covered:

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.4 Currency
1.5 Market Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in the Hybrid Valve Market
4.2 Market, By Material
4.3 Market in Asia Pacific, By Country and End-Use Industry
4.4 Market, By Size
4.5 Market, By Country, 2019

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 The Need for Controlling Excessive Noise, Pressure, Vibration, and Cavitation in Critical Processes
5.2.1.2 Corrosion Problems in the Oil & Gas Industry are Projected to Drive the Demand for Hybrid Valve Made of Steel/Alloy/Carbide Materials
5.2.1.3 High Demand for Energy & Power Generation in Asia Pacific
5.2.1.4 The Increase in the Oil & Gas Production has Led to A Surge in Demand for Hybrid Valves in GCC Countries
5.2.2 Restraints
5.2.2.1 Rising Instances of Downtime to Increase the Repairing and Maintenance Expenditures of Valves
5.2.2.2 Lack of Standardized Certifications and Government Policies to Increase the Production Cost
5.2.3 Opportunities
5.2.3.1 The Increasing Use of 3D Printers in Valve Manufacturing to Broaden the Growth Prospects
5.2.3.2 Increase in the Number of Refineries and Petrochemical & Chemical Plants Across Regions to Create Opportunities for Hybrid Valve Manufacturers
5.2.4 Challenges
5.2.4.1 High Fabrication Cost of Valves to Inhibit the Market Growth

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Industry Trends
6.3.1 IoT Impact on the Market
6.3.2 3D Printing

7 Market, By Material
7.1 Introduction
7.2 Steel
7.2.1 Stainless Steel Material to Dominate the Market During the Forecast Period
7.3 Tungsten Carbide
7.3.1 Tungsten Carbide-Based Valves Play A Significant Role in the Market
7.4 Duplex Nickel
7.4.1 Duplex Nickel Material is Widely Used in the Petrochemical Industry
7.5 Titanium
7.5.1 Titanium-Based Valves Play A Significant Role in the Refinery, Food & Beverage, Mining, and Chemical Industries
7.6 Alloy
7.6.1 Higher Adoption of Alloy Material for Valves in the Power Industry
7.7 Others

8 Market, By Size
8.1 Introduction
8.2 Up to 1
8.2.1 Up T O 1 Hybrid Valves to Witness Significant Growth in the Market
8.3 1-6
8.3.1 1 T O 6 Hybrid Valves to Dominate Market During the Forecast Period
8.4 6''-25''
8.4.1 6 T O 25 Hybrid Valves to Drive the Market for Large-Pressure Applications
8.5 25'' to 50''
8.5.1 Handle High Pressure, Drop Water, and High-Temperature Steam are Key Applications for 25" to 50" Hybrid Valves
8.6 50'' & Larger
8.6.1 50 and Larger Hybrid Valves to Drive the Market for Oil & Gas, Power, and Petrochemicals Industry

9 Market, By End-Use Industry
9.1 Introduction
9.2 Oil & Gas
9.2.1 Increasing Oil Well Production is Projected to Drive the Demand for Hybrid Valve in the Oil & Gas Industry
9.3 Water & Wastewater
9.3.1 Increasing Investments in Water Infrastructure is Projected to Encourage the Demand for Hybrid Valves
9.4 Energy & Power
9.4.1 Increasing Number of Nuclear Power Plants is Projected to Drive the Growth of the Market
9.5 Food & Beverage
9.5.1 Increasing Instances of Retrofitting in Existing Facilities of Food & Beverage Companies are Projected to Create Growth Opportunities for Hybrid Valves
9.6 Chemicals
9.6.1 Expansion of Consent Decrees Implemented in Refineries is A Key Factor Driving the Demand for Hybrid Valves
9.7 Pulp & Paper
9.7.1 Increasing Paper and Paperboard Production Across Regions is Projected to Drive the Demand for Hybrid Valves
9.8 Metals & Mining
9.8.1 Increasing Construction of New Coal Plants is Projected to Drive the Demand for Hybrid Valves
9.9 Building & Construction
9.9.1 Increasing Investments to Develop Smart Cities are Projected to Drive the Demand for Hybrid Valves
9.10 Pharmaceuticals
9.10.1 Increase in Demand for Medical Devices is Projected to Drive the Growth of the Market
9.11 Agriculture
9.12 Others

10 Geographic Analysis

11 Competitive Landscape
11.1 Overview
11.2 Competitive Situations and Trends
11.2.1 Product Launches and Acquisitions
11.2.2 Agreements and Contracts
11.2.3 Others
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Innovators
11.3.3 Dynamic Differentiators
11.3.4 Emerging Companies
11.4 Business Strategy Excellence (For All 25 Players)
11.5 Strength of Product Portfolio (For All 25 Players)

12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 IMI PLC
12.2.2 Emerson Electric Co.
12.2.3 Trillium Flow Technologies
12.2.4 Circor International Inc.
12.2.5 Parcol S.P.A
12.2.6 Koso Kent Introl Pvt. Ltd.
12.2.7 Wuxi Smart Auto-Control Co. Ltd.
12.2.8 Chemtrols Emet Pvt. Ltd
12.2.9 Dymet Alloys
12.2.10 Carter Process Control GmbH
12.3 Other Important Key Players
12.3.1 Seed Technologies Corp., Ltd (Aseeder)
12.3.2 Penn United Technologies, Inc
12.3.3 Master Flo Valve Inc.
12.3.4 Electronica Tungsten Ltd.
12.3.5 Mascot Cavflo
12.3.6 Civacon
12.3.7 Automat Industries
12.3.8 Flowserve Corporation
12.3.9 L&T Valves
12.3.10 Metraflex

For more information about this report visit https://www.researchandmarkets.com/r/qt38mv

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