With the existence of a large number of producers of stainless steel control valves, the global stainless steel control valves market is highly fragmented, reports Transparency Market Research in a new study. As a result of this, the competitive rivalry among the players operating in the global stainless steel control valves market is anticipated to stay high in the coming years. Although the number of established players is relatively small, the large companies with better price structure are likely to benefit more from the present market scenario. The top four players in the global stainless steel control valves market, Pentair Plc., Flowserve Corporation, Emerson Electric Co., and General Electric, Co., held a share of approximately 7.4% in 2014.
The leading producers of stainless steel control valves are focusing on implementing diverse strategies to provide better services to end-users in various geographies. Such diversifications will enable companies to handle economic fluctuations along with business expansion. Many companies are streamlining their businesses by consolidating their divisions.
Growing Chemical Industry in Asia Pacific to Boost Sales of Stainless Steel Control Valves
According to a TMR analyst, “The chemical industry in Asia Pacific is growing steadily due to the decreasing prices of crude oil.” As the raw materials used in the chemical industry are derived from crude oil, the manufacturing process in the chemical industry has taken a surge. Due to the growth of the chemical industry in Asia Pacific, there is an upsurge in the demand for stainless steel control valves in the region. For instance, the chemical industry in India is rising as it aims to become self-sufficient in the production of polyethylene. The increasing chemical production activities across Asia Pacific is likely to boost the sales of stainless steel control valves as they form a crucial part of the manufacturing unit.
The rapid growth in the semiconductor and electronics manufacturing industry is also expected to positively impact the sales of stainless steel control valves.
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Increasing Application of Polyvinylidene Fluoride Control Valves to Hinder Sales of Stainless Steel Control Valves
Industry verticals such as semiconductor manufacturing, food packaging, and pharmaceutical industries are shifting their focus towards the application of polyvinylidene fluoride control valves. As PVDF can withstand a temperature variation between -40C and 100c, it is considered to be more cost effective than stainless steel control valves. PVDF is also chemically more inert. As a result of this, the PVDF control valves are expected to hinder the sales of stainless steel control valves. However, it is expected that PVDF will not completely replace stainless steel control valves as numerous industry verticals are still opting for the latter over PVDF control valves.
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