Slurry Valves Market Trends

Growth Drivers

• Technological Advancement - In view of the development of new technologies such as nanotechnologies, businesses in this sector are starting to find new opportunities. As environmental sustainability has become a primary concern, the demand for products that can help to reduce or eliminate water pollution is increasing. The slurry valves market growth is likely to be stimulated by the introduction in the projected period of remotely controlled valves which use an industrial Internet of Things technique that improves their performance and allows them to avoid unforeseen interruptions. It is anticipated that by 2030 there will be over 26 billion IotT devices.
• High Demand for Industrial Valves in End Use Sectors - The global slurry valves market is expected to grow significantly during the forecast period due to increasing demand for industrial valves in end-use sectors such as oil & gas and chemicals. Additionally, the expansion of offshore oil and gas projects around the world and government efforts to replace aging water pipes in developing countries are also expected to boost global growth.

Challenges

• High Material Cost - Slurry valves require robust materials like wear-resistant alloys and ceramics, pushing up production costs. This can make them expensive compared to valves for less demanding applications. This is anticipated to hamper the market growth shortly.
• Technological Complexities Associated With Slurry Valves are Set to Pose Limitations on the Slurry Valves Market Growth
• Competition from Alternative Technologies is Expected to Pose Restrictions on the Market Growth in the Forecast Period.