Sales of valves to meet the requirements of the pharmaceutical, food and other life science industries in 2015 will exceed $3.4 billion worldwide, according to a report by the McIlvaine Company.
Traditionally, Europe and the U.S. have been the biggest markets for pharmaceutical valves, the report says. However, rapid construction of generic manufacturing facilities in India and China, along with a general trend to build manufacturing facilities near the markets they serve, is creating a shift toward Asia.
Much of the growth in food processing is also in Asia where there is growth in production, as well as a greater concern for contamination. This increases the average sales price per, valve as more expensive materials of construction and more expensive designs are needed, the report says.
The food industry also has a need for valves, which can withstand the higher temperatures associated with safe processing.
The market for valves for municipal drinking water plants in 2015 will be more than $3.8B. However, these valves are not designed to the high sanitary levels required of valves in the life sciences.
The life sciences segment of the valve market has grown more steadily and at a higher rate than the general valve segment, the report says.
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