Global Chemical Injection Metering Pumps & Valves Market - Segmented by Metal, by Application, by End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global chemical injection metering pumps & valves is expected to register a CAGR of around 4% during 2018 to 2023 (the forecast period). Europe accounted for the largest market in 2017. Asia-Pacific is expected to register the fastest growth during the forecast period.
Growing Chemical Industry
In the chemical industry, chemical injection metering pumps & valves are used for accurate dosing of chemicals into a system. Chemical injection metering pumps inject a precise volume of liquid in a specified time period to provide a highly accurate flow rate. Chemical injection metering valves complement pumps and ensure that there is a constant discharge pressure of the fluid flowing out for the metering pumps, to work properly. The global chemicals industry has grown rapidly over the past several decades. The global chemical industry generates a revenue of about USD 3,500 billion and produces precursors and intermediates for most other consumer industries. Despite limitations, such as energy costs, feedstock changes, labor costs, and regulation, the global chemical industry is expected to witness a fairly high growth rate during the forecast period, in turn, driving the demand for chemical injection metering pumps & valves.
Chemicals – The Dominant End-user Industry
Chemicals form the largest end-user segment in the injection metering pumps & valves market. The chemical industry consists of the synthesis of finished or intermediate products. In chemical processing, metering pumps and valves help in handling various toxic chemicals at different temperature and pressure situations. Chemical injection systems also find a major use in power generation. China is the leading manufacturer, followed by the EU and US chemical industry. It was estimated that the Asian chemical production will outpace other regions. China dominates the world ranking. Twelve of the top 30 biggest producers are Asian, accounting for more than 50% of the global market. With the growing demand from the chemical industry, the market for chemical injection metering pumps & valves is projected to grow during the forecast period.
Europe to Dominate the Market
Europe is the largest market for chemical injection metering pumps & valves, accounting for major chunk of the global market. The chemical industry in Germany is the fourth-largest in Europe. Apart from the chemical industry, water treatment facilities in the country have also increased, due to the increased treatment of industrial waste. The increased importance and improved technology will drive growth in the country. Moreover, Russia is one of the largest exporter of natural gas and has oil reserves, which are expected to increase further. In addition to this, the number of oil refineries and their production capacities are increasing, further driving the chemical injection metering pumps & valves market in the country.
Major Players: IDEX Corporation, SkoFlo Industries Inc., SPX FLOW, LEWA GmbH, SEKO, Milton Roy, and The McFarland Group, amongst others.
Reasons to Purchase this Report
Impact of the growing chemical industry on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The pump type and end-user industry that are expected to dominate the market
The region that is expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
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