One-Way Valve Market

Market Overview

The global one-way valve market size was valued at USD 3,840 million in 2021. It is expected to reach USD 6,115 million by 2030, growing at a CAGR of 5.3% during the forecast period (2022–2030). 

Check valves and non-returning valves are other names for one-way valves. These valves only permit one direction of fluid flow. By physically stopping the flow, they also limit fluid flow in the opposite direction. These valves are primarily utilized in the water and wastewater, oil and gas, electricity, manufacturing, and chemical industries. The awareness and treatment of water and wastewater in the municipal and industrial sectors is a primary driver of the one-way valve market.

The industrial and construction industries in developing nations like Brazil, India, and China are other factors driving the one-way valve market. However, preventing fluid flow in the opposite direction results in significant physical wear and strain. Therefore, these valves require routine maintenance and observation. This restricts the market for one-way valves. Additionally, the use of IoT in the industry has improved the efficiency and monitoring of these one-way valves. Consequently, a significant opportunity for growth during the forecasted time is created.

Market Dynamics

Drivers: Urbanization and Industrialization in Developing Countries

Rapid urbanization and industrialization in developing countries are anticipated to create remunerative opportunities to expand the valve market. The market for one-way valves is primarily driven by the rising need for infrastructure and building projects. The demand for one-way valves in process industries has increased due to the industrialization of developing nations. Mining, building, sugar, paper, oil & gas, and other industries need valves to manage high fluid flows.

Expenditure on infrastructure developments, such as improving roads, bridges, and others, has also increased. The global population is also expected to increase by 2 billion people by 2040, with urban populations expected to increase by 46%. This will result in massive demand for manufacturing and FMCG products. The expansion of the global industrial sector leads to an increase in demand for mined ores as raw material and fuel for the industries. Industrialization led to transportation development, which increased the need for valves in manufacturing industries.

Drivers: Awareness Regarding Water and Wastewater Treatment

The water is being contaminated due to climatic changes, causing health issues among the people and affecting the animals and vegetation. Additionally, there has been awareness to conserve natural resources such as water and avoid contaminating it by dumping industrial and municipal wastewater directly in rivers and oceans. There has been a rise in the need for water owing to urbanization. Therefore, the governments of the US, China, India, Germany, France, the UK, and other countries have enforced water laws that further help municipal wastewater treatment plants, thereby protecting watersheds and drinking water sources.

Furthermore, there are stringent rules and regulations to avoid the direct disposal of wastewater from industries and municipalities. Owing to this, there are several new projects for wastewater treatment. For instance, in September 2020, six sewage treatment plants started operating in Uttarakhand state in India. Similarly, in October 2020, MilliporeSigma inaugurated a new industrial water treatment plant at its Jaffrey, New Hampshire. Such projects will lead to the installation of new one-way valves, thus, driving the market growth.

Restraint: Wear and Tear and Frequent Maintenance

One-way valves and related systems are widely used in various industrial applications such as food processing, oil & gas, chemical, and others. They work under adverse conditions such as unstable pressure, temperature, vibrations, and other factors in the industry that physically damage the one-way valves. It causes wear and tear of the one-way valves and the smaller parts inside a valve. Maintenance of components such as plugs, bushes, nuts & bolts, body, springs, bonnets, and others need frequent examination and care like greasing and cleaning for smooth operation without failure. The maintenance cost can be high and recurring, impeding the market.

What Are Future Opportunities in Global One-Way Valve Market?

• Introduction of IoT and Energy Efficient Valves

One-way valves are widely used in food processing, beverage, chemical, pharmaceutical, and petrochemical industries to control the flow of fluids. Moreover, upgrading manufacturing facilities involves using energy-efficient products for operations. Therefore, the use of IoT-enabled systems to monitor the flow through one-way valves and the physical condition of the components in the one-way valves have gained prominence and made the one-way valves energy efficient. This can provide a lucrative growth opportunity to the players in the one-way valve market during the forecast period.

Regional Analysis

Region-wise, the global one-way valve market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Is Asia-Pacific Likely to Dominate the Global One-Way Valve Market?

Asia-Pacific is the largest region in the one-way valve market and is estimated to grow at a CAGR of 5.4% during the forecast period. Emerging economies like India and China are developing swiftly, witnessing rapid growth of industries and urban migration. This has led to the construction of new projects in these countries and, in turn, driving the one-way valve market in Asia-Pacific during the forecast period.

North America is the second-largest region and is projected to reach USD 1,350 million by 2030, growing at a CAGR of 4.5%. The US has a robust industrial sector, whereas Mexico is a rapidly developing country. Industrialization and urbanization in North America have been driving the one-way valve market. Additionally, new and aftermarket sales of one-way valves in industries such as oil & gas, power, pharmaceutical, food & beverage, and other sectors, owing to new projects and expansion of existing facilities, are expected to boost the one-way valve market growth during the forecast period.

LAMEA is the fastest-growing region. LAMEA includes Brazil, Argentina, South Africa, Saudi Arabia, Qatar, and others. The growth is attributed to the booming industries and the growing urban population. This drives the development of manufacturing plants for food & beverage, pharmaceutical, oil & gas, and other process industries. Therefore, the installation of one-way valves in these manufacturing plants boosts the one-way valve market growth during the forecast period.

Segmental Analysis

The global one-way valve market share is segmented by type, application, sales type, and region. 

• By Type

Based on type, the global one-way valve market is divided into Brass, Stainless Steel, Carbon Steel, and Others.

Stainless Steel dominates the one-way valve market and is estimated to grow at a CAGR of 5.3% during the forecast period. Stainless steel valves are highly reliable and robust. These valves can be used at any temperature and do not impact operating in very hot or cold conditions. In addition, these valves do not easily catch rust. These valves are used in chemical, pharmaceutical, and food & beverage industries. For instance, in May 2019, the construction of a new biologics manufacturing facility worth USD 400 million was started in Dundalk, Ireland. The plant aims to become the world’s largest single-use biologics manufacturing facility. Such new constructions are expected to drive the stainless steel one-way valves market growth during the forecast period.

Carbon Steel is the second-largest segment. Carbon steel valves are durable and moderately shock resistant. In addition, the cost of carbon steel valves is comparatively low compared to other valves. Further, these valves can be recycled, thus, making them environmentally friendly. Therefore, these valves are used in process industries such as pulp & paper, pharmaceuticals, and food processing, and also in the power industry such as nuclear and LPG. Owing to such extensive application, in February 2020, Flomatic introduced a new AIS-compliant, Model 745 swing check valve for heavy industries. Similarly, in September 2018, Matco-Norca introduced a new forged carbon steel swing check valve, especially for medium and light-duty operations. Such strategies are expected to boost the growth of the carbon steel valve market during the forecast period.

The others segment is anticipated to exhibit the highest CAGR during the forecast period. One-way valves or check valves made of titanium, bronze, cast iron, alloy steel, and other material are considered under this segment. These one-way valves are high-pressure resistance, corrosion-free, highly durable, malleable, and reasonably low in cost. Such valves are majorly used in commercial and industrial components around the world. These valves are used in large HVAC systems and water & wastewater treatment plants. For instance, in April 2021, Colombian water utility Aguas de Manizales, which serves the capital of the Caldas department, launched a new wastewater treatment plant project in Los Cambulos. The plant will be operational from 2022 and will expand its capacity gradually until 2034. Several alloy one-way valves can be installed in this project. Such developments are anticipated to boost the growth of the one-way valves market during the forecast period.

• By Application

Based on application, the global one-way valve market is classified into Oil & Gas, Power, Chemicals, Water & Wastewater, Pharmaceutical, and Others.

The Oil & Gas segment is the highest contributor to the market and is estimated to grow at a CAGR of 4.6% during the forecast period. The consumption of oil & gas has significantly increased over the past decade, mostly in emerging countries, owing to industrialization. Therefore, in June 2020, the Government of India planned to double its oil refining capacity to around 450-500 million tons. The current production capacity is about 250 million tons, and the demand is expected to rise to over 350 million tons by 2030 and over 475 million tons by 2040. Such expansions of oil refineries can lead to the installation of one-way valves, boosting the growth of the one-way valves market during the forecast period.

Pharmaceutical has been a rapid development in the past few years. The rise in diseases and outbreak of the COVID-19 pandemic drive the expansion of the pharmaceutical industry. Owing to this demand, in August 2020, it was announced that Samsung Biologics to invest around USD 1.5 billion in a new pharmaceutical plant in South Korea. Similarly, in May 2021, Sandoz announced the expansion of its antibiotics manufacturing at its plant in Kundl, Austria, along with the help of the Austrian government. Such development and new constructions of pharmaceutical companies will boost the one-way valve market growth during the forecast period.

The Power industry is witnessing continuous growth as construction and industrial sectors are expanding in emerging countries. Thus, there are several new upcoming projects for power plant production facilities. For instance, in August 2019, Brazil planned to raise investments to construct hydropower plants in Bem Querer, Castanheira, Telemaco Borba, and Tabajara. Construction of these new hydropower projects is expected to lead to the installation of new one-way or check valves, thus, boosting the growth of the one-way valve market during the forecast period.

• By Sales Type

Based on sales type, the global one-way valve market is divided into New and Aftermarket Sales.

The Aftermarket Sales segment is the largest market shareholder and is estimated to grow at a CAGR of 4.8% during the forecast period. The valves need regular monitoring and maintenance for their smooth operation. Thus, timely servicing and valves are carried out to avoid failure. In addition, sudden breakdown of the valves needs to be repaired as quickly as possible to prevent the production and functions of the facility. For instance, in December 2020, Kampen Valve Care B.V. signed an entire scope valve service contract with Shell/NAM. The agreement includes monitoring and maintaining valves installed for all on and off-shore facilities. Such strategies are anticipated to boost the aftermarket sales of the one-way valves market.

The New Sales segment is the fastest growing. The rise in industrialization and urbanization worldwide has led to the expansion of power, pharmaceutical, and water & wastewater industries. Several new manufacturing and production plants are being constructed worldwide that need the installation of one-way valves for their smooth operation. Thus, industrialization and urbanization, especially in developing countries, are expected to boost the one-way valve market growth during the forecast period.

Recent Developments

• June 2022 - Flowserve Corporation, a leading provider of flow control products and services for the global infrastructure markets, announced today it was awarded a contract to provide pumps to TMGcore, Inc., a Texas-based leading provider of high-performance computing solutions specializing in liquid immersion cooling technology.
• May 2022 - Flowserve Corporation, a leading provider of flow control products and services for the global infrastructure markets, announced today that it was awarded a contract to provide control and ball valves to OMV’s chemical recycling demonstration plant in the city of Schwechat, Austria, located approximately 16 km (10 miles) southeast of Vienna.