New York, June 30, 2023 (GLOBE NEWSWIRE) -- In 2023, the Europe plastic valves market is estimated at US$ 543.2 million. The market is predicted to expand at 5.1% CAGR over the decade (2023 to 2033). Market growth is being propelled by rapid industrialization in emerging and established countries and increased demand for diverse valve solutions in plant engineering. Plastic valves play a crucial role in controlling, dosing, and ensuring the safe operation of various industrial processes.
Plastic valves provide several advantages in environmental technology applications. Ease of processing plastic materials allows manufacturers to produce valves in large volumes while maintaining consistent quality and performance. The ongoing development of commercial and infrastructure projects in Europe presents a promising market for plastic valves. With a focus on constructing commercial buildings, shopping centers, and public infrastructure, there is an increasing demand for efficient fluid control systems that can optimize operations and ensure seamless functionality.
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Compared to their metal counterparts, plastic valves are easier to handle and install. This not only simplifies the installation process but also reduces the overall labor and time required for projects. Plastic valves have a critical role in applications where the protection of the environment and addressing health concerns are of paramount importance. This is particularly evident in areas such as generating safe drinking water and treating contaminated wastewater.
The market is witnessing a growing need for valves that can cater to different applications and meet specific requirements. This includes a wide range of valve types, such as ball valves, diaphragm valves, butterfly valves, check valves, and solenoid valves. Each valve type offers unique advantages and functionalities, making them suitable for specific applications within plant engineering.
Plastic valves play a pivotal role in achieving accurate and responsive fluid control through the integration of sensors, actuators, and control systems. This integration enables remote operation, real-time monitoring, and data collection, aligning with Europe's drive for increased efficiency, productivity, and reduced human intervention in industrial operations.
Application of chemical expertise is crucial in this context as it empowers manufacturers to configure and develop highly durable products. By understanding the chemical properties of the fluids being pumped, manufacturers can design valves that efficiently handle these substances over prolonged periods. This expertise ensures that the valves maintain their functionality, performance, and reliability even in challenging environments, safeguarding uninterrupted operations.
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Key Takeaways from Market Study
- The European market for plastic valves is forecasted to reach US$ 889.8 million by the end of 2033
- The market in the United Kingdom is expected to reach US$ 91.1 million by 2033, expanding at a CAGR of 6%.
- The market in Germany is predicted to be worth US$ 89 million by 2033, advancing at a CAGR of 5.4%.
- Sales of plastic valves in France are set to rise at a CAGR of 5.6% and reach US$ 93.2 million by 2033-end.
- Usage of plastic valves in the industrial sector is predicted to increase at a CAGR of 4.8% from 2023 to 2033.
- Sales of thermoplastic valves are expected to increase at a CAGR of 5.3% from 2023 to 2033. Thermoplastic valves account for a significant market share due to their cost-effectiveness, high efficiency, and low maintenance requirements.
“Initiatives taken by market players such as establishing local manufacturing units and strengthening distribution networks can have a significant influence on the demand for plastic valves,” says a Persistence Market Research analyst.
Market Competition
The Europe plastic valves industry is a highly competitive space with a significant number of market players vying for a bigger share. Leading manufacturers of plastic valves are Parker Hannifin Corp., Emerson Electric Co., Watts Water Technologies, Flowserve Corporation, Georg Fischer, STÜBBE GmbH & Co. KG, POLYPIPE ITALIA EFFAST, and Xylem.
Key players are notably investing in research and development endeavors to create novel and inventive goods that provide improved effectiveness, dependability, and affordability. They are additionally concentrating on broadening their range of products and reinforcing their distribution channels to meet the changing demands of clients.
Tactical alliances and associations with other corporations are progressively prevalent in the sector, enabling participants to utilize one another's capabilities and broaden their influence in the marketplace. Consolidation and mergers are being utilized by leading players to fortify their market standing and acquire entry into fresh markets. Developing economies, particularly countries like the United Kingdom and Germany, are experiencing significant growth and expansion in the sector.
Leading market players are expanding their presence in these markets by establishing local manufacturing facilities and strengthening their distribution networks. They are also focusing on offering cost-effective solutions to customers to gain a competitive edge.
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More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the Europe plastic valves market that contains an industry analysis for 2018 to 2022 and an opportunity assessment for 2023 to 2033.
The report provides an in-depth analysis of the market through different segments, namely, valve material, valve type, actuation type, end use, and country. The report also provides supply and demand trends along with an overview of the parent market.
For detailed insights on the Europe plastic valves market, write to media@persistencemarketresearch.com
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