What is Valve Casting
For casting the liquid form of metal is used to create valves unlike forging. The metals are then melted into molten form and then poured into several molds. Once cooled, the liquid is solidified it is then broken out of or ejected from the molds.
One of the biggest advantages that valve casting manufacturers of casting are that valves of complex patterns, shapes, and sizes can be created. The use of the mold to manufacture such devices gives more freedom to make valves with intricate parts.
Why is Valve Casting Better Than Forging
Casting valves are an effective solution for many companies, it allows the company to make a valve with more metals and alloys, it is the most cost-effective solution. Casting valves reduced the cost of machining as it does not require much labor which is beneficial for the company, especially for making complex shapes.
Casting valves provide an easier and less time-consuming way to make replacement parts when a system’s current valve breaks or deteriorates.
Valve Casting’s Value in the Industrial Market
The industrial valves market was valued at USD 67.49 billion in 2017 and is expected to reach USD 85.19 billion by the year 2023, which is a great profit for the industries involved. Its value is likely to increase at a CAGR of 3.96% during the forecast period.
The industrial valve market is likely to witness rapid growth in the coming years due to the hike in demand for the industrial valves from gas and oil-related production facilities in GCC countries, elevation in the APAC in the energy demand, development of the smart city initiate across the globe, demand for the predictive maintenance techniques from industries manufacturing it and the stringent environmental and safety regulations to make the energy sector more resilient.
Few of the tier I players in the valve manufacturing market have started offering IoT-enabled valves and solutions. As of 2017, some keen industry players, such as Metso (Finland) and Emerson Electric Company (US), have introduced IoT in their industrial valve products and gave services.
They are striving to push their ways in the market. However, by 2020–2022, tier II players from this industry would also integrate these technologies to offer reliable and connected valves to every end-user in the industry.