According to the Precedence Research report, the valve industry-valued around USD 87.23 billion in 2019, and It’ll surpass USD 110.91 Billion by 2027. The annual growth rate of the valve industry will be 3.4% approx. The valve industry counts among the top sectors and plays an essential role in almost every sector including, water supply to nuclear reactors.
Another report shows that China is among the largest valve industries and estimated its value around 45.8 billion.
About Formen Valves:
Formen has been making industrial valves for 20 years and counting them among China’s best valve manufacturers. Zhejiang Zhong gong Valve Group Co., Ltd is the parent company of Formen valves, and they’re the biggest exporter of the valve to Europe, American, the Middle East, Asia, etc.
Formen make valves mainly for petroleum, chemical, metallurgy, power, fuel gas, city pipeline networks because of the high-quality materials and top of the notch valve manufacturing to minimize wastewater, oil & power consumption.
Rapidly Increasing Valves Demand:
As we stated above, the valve industry estimated 87+ billion USD, and it’s increasing rapidly. Valves are used in almost every field of life in other industries. Every liquid and gas handling industry uses industrial valves, and it’s mainly used for regulation, controlling the flow, and directing the flow of gases, slurries, liquids, and vapors by industries.
Other industries mainly use industrial valves. The most operated industrial valves are by Oil and Gas industry. Here are some leading industries depending on industrial valves:
- The Energy Industry
- The Agriculture Industry
- The Aerospace Industry
- The Pharmaceutical Industry
- The Construction Industry
What Make Formen Different From Other Valve Manufacturers?
Formen operates from Wenzhou, China and our way of production differs us from our competitors. Formen valves never comprise quality, and we know how vital our industrial valves are for other industries and play a crucial role for our customers. Formen is certificated with ISO9001, API6D, CE/ PED, API 607 to ensure the quality stability of the products.
We have a great team of engineers, designers, researchers, machine operators, and distributors. We’re 100% independent and do A to Z for every part of valve manufacturing to deliver them all around the globe all their own. We’re proud to announce that we’ve 100% customer satisfaction.
Formen Industries are among the top valve industries and all set to surpass the valve industry giants like Emerson Electric Co, AVK Holding A/S, Schlumberger Limited, Metso Corporation, and Crane Co.
During the Covid-19 pandemic, almost every industry has to shut. Like the valve industry, the shutdown created a massive demand in the valve industry and gave a significant spike in valve pricing. Many industries tackle this situation by using other alternative metals and alloys. These are the primary use materials for valve production:
- Cast Iron
The demand for valves also increases the need for these metals globally, and many industries begin to trade from China, Brazil, and Australia for cheaper metal supply.
Types Of Valves:
There are eight basic types of valves, but the consumer can ask for slight changes, and almost every mass valve manufacturer can make custom valves. Here are the commonly used valves:
Future Of Valve Industry:
Many researchers and market experts say that the valve industry is in its golden time and that the upcoming trends for the valve industry are profitable and high demanding. The valve industry is growing day by day, and the current growth state is 3.3%.
According to Fact.MR, the valve industry will hit the mark of US $79.4 billion in a couple of years, and it’ll indeed surpass the 100 billion USD mark by the end of 2030.
Suppose we put all the above research in a nutshell. In that case, we see there is a bright future for the valve industry. The increasing demand for valves spikes the market of raw material, providing more opportunities to other sectors.