Butterfly Valve Market Size, By Lining Type (Rubber lined, Plastic lined, Metal lined), By Material (Carbon steel, Stainless steel, Iron, Others), By Mounting Type, By End-use, By Distribution Channel, Forecast 2024 - 2032

Butterfly Valve Market Size, By Lining Type (Rubber lined, Plastic lined, Metal lined), By Material (Carbon steel, Stainless steel, Iron, Others), By Mounting Type, By End-use, By Distribution Channel, Forecast 2024 - 2032

Butterfly Valve Market Size

Butterfly Valve Market was valued at USD 10.8 billion in 2023 and is estimated to grow at a CAGR of 5% during 2024 to 2032. A significant driver is the demand for butterfly valves in the oil and gas industry, particularly for applications requiring stainless steel variants due to their high-pressure tolerance and minimal maintenance needs. These valves are used for extraction, refining, and transportation of oil and gas.

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Butterfly valves offer a simple quarter-turn operation for opening and closing, making them ideal for automated processes. This aligns with the growing trend towards automation in various industries to improve efficiency and safety. The chemical processing industry relies on butterfly valves for regulating fluid flow in various processes. Their ease of operation and tight shut-off properties make them a preferred choice. The rising demand for power generation, both from conventional and renewable sources, necessitates the use of butterfly valves in power plants for fluid flow control.
 

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The market is fragmented with numerous regional and niche players. This can lead to intense competition and price pressure, especially for standard butterfly valve offerings. While butterfly valves generally offer good shut-off capabilities, wear and tear over time can lead to potential leakage issues. Regular maintenance and potential replacement of worn-out parts are crucial to ensure continued leak-proof operation.

Butterfly Valve Market Trends

Manufacturers are exploring materials like nickel-alloys and exotic metals to create butterfly valves that can withstand extreme temperatures, harsh chemicals, and abrasive fluids. This caters to demanding applications in sectors like oil & gas exploration and chemical processing. The use of composite materials like reinforced nylons and fiberglass offers a lighter weight alternative to traditional metal valves. This can be beneficial for applications requiring weight reduction or corrosion resistance. Butterfly valves are increasingly being equipped with automation features like electric or pneumatic actuators. This allows for remote control and integration with industrial automation systems, improving process efficiency and safety.

The emergence of smart butterfly valves with embedded sensors and diagnostics capabilities is gaining traction. These valves can provide real-time data on performance parameters like flow rate, pressure, and valve position. This data can be used for predictive maintenance, optimizing operations, and preventing downtime.

Butterfly Valve Market Analysis

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Based on lining type, the plastic lined segment was worth over USD 4.9 billion in 2023 and is expected to cross USD 7.8 billion by 2032. Plastic linings, such as PTFE (Teflon) or PFA, offer exceptional resistance to a broad spectrum of corrosive chemicals, making them suitable for highly aggressive environments (chemical processing, pharmaceutical industries). Plastic linings offer low friction coefficients, reducing pressure drops and making them ideal for applications involving viscous fluids or those requiring minimal product contamination (food & beverage processing). Plastic linings are lighter than metal alternatives and can be a cost-effective option for applications where weight reduction is beneficial (aerospace, marine).

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Based on material, the stainless steel segment held the dominant market share of around 41% in 2023. Stainless steel offers excellent resistance to corrosion, making it ideal for applications involving harsh chemicals, saltwater, or high humidity environments (chemical processing, marine applications). Stainless steel offers a good balance of strength, corrosion resistance, and affordability, making it a versatile choice for various applications.

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North America butterfly valve market size surpassed USD 2.8 billion in 2023 and is expected to reach USD 4.4 billion by 2032. North America is a significant producer and consumer of oil and gas. This translates to high demand for butterfly valves, particularly stainless steel variants, for applications throughout the oil & gas value chain (extraction, refining, transportation). Their ease of operation and reliable shut-off are crucial in these processes.

The market in U.S. is set to grow through a CAGR of 5.4% through 2032. Power generation facilities in the U.S. increasingly rely on butterfly valves for their simple design, tight shut-off capabilities, and potential for automation, optimizing energy production processes.

The German butterfly valve market maintained a considerable position in Europe. The European Union enforces strict environmental regulations. Butterfly valves with features like minimal leakage and energy efficiency are increasingly sought after to comply with these regulations and contribute to sustainability goals.

China is supposed to grow at the highest rate of 6.1% in the region. The rapid urbanization in China translates to a surge in high-rise buildings and modern infrastructure projects. This creates significant demand for butterfly valves in water distribution systems, sewage treatment plants, and HVAC systems within buildings.

Butterfly Valve Market Share

Butterfly Valve industry seem to be consolidated in nature due to presence of local and global players across the globe. In 2023, the market players such as Emerson Electric Co., Flowserve Corporation, Grundfos, Xylem, AVK Group, Crane Co., Alfa Laval, Neles collectively held around 10%-15% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.

Butterfly Valve Market Companies

Major players operating in the butterfly valve industry are

• Alfa Laval
• AVK Group
• Bray International, Inc.
• Crane Co.
• Curtiss-Wright Corporation
• DeZURIK, Inc.
• Emerson Electric Co.
• Flowserve Corporation
• Grundfos
• Honeywell International Inc.
• Neles
• SPX FLOW, Inc.
• Velan Inc.
• Weir Group
• Xylem

Butterfly Valve Industry News

• In April 2023, JA Moody and Lexair delivered the K-LOK valves for the United States Navy. With this product line being managed by a small company that offers excellent customer service, component engineering, manufacturing, and component machining, the Navy can expect better results.
• In June 2023, Francis Ward and Aliaxis teamed up to reduce food contamination. Together, Francis Ward and Aliaxis created an industry-first plastic opening valve incorporating FDA and WRAS approvals. By working closely together, Francis Ward and Aliaxis designed a truly unique solution for the client that mitigated contamination risks.

This butterfly valve market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million)(Thousand Units) from 2021 to 2032, for the following segments

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Market, By Lining Type

• Rubber lined
• Plastic lined
• Metal lined

Market, By Material

• Carbon steel
• Stainless steel
• Iron
• Others (Titanium, Aluminum, etc.)

Market, By Mounting Type

• Wafer
• Semi Lug
• Lug
• Double flanges

Market, By End-use

• Water and wastewater
• Oil and Gas
• Energy and Power
• Pharmaceuticals
• Chemicals
• Others

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA