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Industrial Automation and Equipment

Global Cryogenic Valve Market Repor...

Historical and Forecast Market Trends

2018-34

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The global cryogenic valve market is expected to be driven by applications across multiple industries relying on valves specifically designed for cryogenic applications to maintain safe handling of extremely cold liquids and gases. Equipment in refrigeration, air separation, chemical processing, medical and food processing fields employ cryogenic valves for purposes essential to these industries’ functions. Rising LNG demand is also likely to drive market growth. North America, Europe and Asia are likely to be key markets.

Novel solutions are being developed by companies to meet industry requirements. For example, the new Type 3598 Cryogenic Valve was particularly developed to meet the requirements of cryogenic applications. The valve is available in sizes up to NPS 8 and pressure ratings up to Class 900 and is appropriate for temperatures down to –196 °C. The valve is optimized to manage high pressure drops. It has a cryogenic extension bonnet and circulation inhibitor to ensure a perfect temperature distribution and minimize energy loss to the atmosphere. Such developments are expected to drive the global cryogenic valve market. Type 3248 top entry threaded seat globe and angle style control valve was designed for cryogenic service applications up to the limits of the ANSI 600 pressure class rating. The Type 3248 cryogenic valve was specifically designed to meet the needs of cryogenic applications with the addition of a cryogenic extension bonnet cover plate to enable installation in vacuum insulated pipelines, and air separation plants as well as standardizing on a metal bellows with a cryogenic length extension bonnet to meet emission requirements and minimize heat leaks. The top entry design enables valve maintenance without removal from pipeline.

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Key Industry Developments

In 2021, Flowserve Corporation announced that it was providing pumps, valves and seals to Pfizer to support production of its COVID-19 vaccine. During the engineering runs of vaccine production, Pfizer required immediate support to replace a mechanical mixer seal on its vaccine production line. Flowserve accelerated the rebuild of the mechanical mixer seal that Pfizer required urgently during engineering runs vaccine production. Additionally, Flowserve, through its channel partner, Corrosion Fluid Products, would provide Pfizer with a cryogenic valve application to support their expanded production capabilities of the COVID-19 vaccine.

In 2017, The HEROSE Group announced the successful conclusion of discussions with Australian valve manufacturer Mack Valves, intended to create a future industry focussed organisation. This resulted in an investment in Mack Valves by the HEROSE Group. The investment entailed HEROSE securing a majority 51% equity position in the Company, with the Ador Group’s equity holding in Mack Valves at 49%. The joint venture would seek to leverage the unique cultures that each business had developed through their shared over 170 years of history, to reinforce the new consolidated organisation that had come together as a result of the partnership. Mack Valves would retain its distinct brand, functioning as a member of the HEROSE Group and would continue its unique value proposition to customers.

In 2018, Emerson announced that it had acquired Advanced Engineering Valves (A.E. Valves). The transaction would enable Emerson to offer customers the world’s broadest portfolio of valves to improve process performance and reliability. The addition of A.E. Valves would support Emerson’s Main Valve Partner™ initiative to be the leading supplier of final control solutions for the LNG industry, and complement its Vanessa triple-offset valve range to generate a single technology leader for process isolation in critical cryogenic and severe service applications.

Key Findings of the Report:

  • The global cryogenic valve market is expected to be driven by applications of cryogenic valves in industrial gases.
  • Rising LNG demand is likely to drive market growth.
  • North America, Europe and Asia are projected to be key markets.

Market Analysis by Type, Gas, End User Industry, Application and Region:

  • By type, the market is segmented into Globe Valve, Gate Valve, Check valve, Ball Valve, and Others.
  • By gas, the market is divided into Nitrogen, Oxygen, LNG, and Others.
  • By end user industry, the market is classified into Energy and Power, Chemicals, Food and Beverage, Healthcare, and Others.
  • By application, the market is divided into Tanks and Cold Boxes, Liquefiers, Transfer Lines, Manifolds and Gas Trains, and Others.
  • By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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