Instrumentation valves and fittings are fit components that regulate the flow of liquid or gases in the plumbing system or plumbing circuit. While valves help in maintaining and controlling the rate of flow from one point to another, fittings are less complicated components that help in connecting two different points of the plumbing system such as establishing a connection between two different diameter pipes. High quality metals are utilized as building materials of instrumentation valves and fittings that do not warp under high stresses, resistant to rusting, and last longer. Instrumentation valves and fittings form an essential part of a manufacturing unit. They are used across manufacturing plants of various industries such as oil and gas, chemical, paper and pulp, food and beverages, pharmaceuticals, and semiconductor.
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The flourishing growth of these industries is, therefore, one of the primary factors driving the market. The increase in the trend of automation is stimulating the deployment of advanced valves and fittings. There are various types of valves available in the market such as needle valves, check valves, ultra-clean valves, ball valves, and manifold valves. The demand for instrumentation valves and fittings is likely to improve on global level owing to developments in the healthcare services, manufacturing sector and power sector. Also, the forbidding chain of instrumentation valves and fittings suppliers delivering the components to the end users and the availability of online methods for bulk purchases and standalone are also among the factors enhancing the market growth. The “Global Instrumentation Valves and Fittings Market” is expected to grow at a CAGR of 5.5% during the forecast period.
Factors that are influencing the demand for instrumentation valves and fittings include the rise in activities in the petroleum industry especially in the upstream section of the industry. Growth of chemical industry across the world where valves and fittings are utilized for experimentation, storage and controlling the flow of materials during transportation stands as major growth factor for the instrumentation valves and fittings market. The prevalence and growing use of automation in manufacturing units across various industries are also important factors impeding the growth of instrumentation valves and fittings market. The pharmaceutical industry demands for extremely sterile, precise and high quality instruments for the manufacture of medicines and relevant products, which can be attributed as an important element for the healthy sustenance of the instrumentation valves and fittings market during the forecast period.
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The growing demand of utilizing confined chambers, also known as hyperbaric chambers, which are used for remedying various disorders and illnesses in hospitals including Hyperbaric Oxygen Therapy (HBOT), where the internal air pressure differs from ambient atmospheric pressure calls for instrumentation valves and fittings for its construction, is affecting the growth of the instrumentation valves and fittings market in the future. Other major growth factors include designing valves and fittings that seamlessly integrate each of its functions in order to gain higher number of customers in the market. The increase in the implementation of process instrumentation in manufacturing plants is facilitating technological advancements in instrumentation valves and fittings, thereby providing a fillip to the growth of the market. Moreover, the increasing drilling, fracking, and extraction activities are augmenting the market. The growing consumption of ultra-clean valves in the pharmaceutical sector for hygienic and sterile applications is also working in favor of the growth of the market.
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Instrumentation Valves and Fittings Market across Asia Pacific region has huge demand of growth on account of its growing usage in fabrication and manufacturing processes of the semiconductor industry. Major semiconductor players, such as Sony, Samsung, LG, and TSMC, have their presence in APAC. The food & beverages industry in China and India is confronting rapid growth as many of the food & beverages industry players are upgrading their facilities to match international standards. Increased focus on cleanliness and hygiene will boost the demand for ultra clean valves in the region. Hence, the penetration of instrumentation valves and fittings is significantly increasing. Asia Pacific is witnessing a surge in smart city projects, which is also creating demand for instrumentation valves and fittings products. In recent years, Asia Pacific has witnessed tremendous economic growth, political transformation, and social change. Organizations in Asia Pacific are expected to invest heavily in deploying instrumentation valves and fittings products, thus, driving the instrumentation valves and fittings market growth.
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