Technavio has published a new report on the global valves market in the mining industry from 2017-2021. (Graphic: Business Wire)

Technavio has published a new report on the global valves market in the mining industry from 2017-2021. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE )--According to the latest market study released by Technavio, the global valves market in the mining industry is expected to grow at a CAGR of almost 6% during the forecast period.

This research report titled ‘Global Valves Market in the Mining Industry 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The demand for multi-valves, especially knife gate valves, is expected to increase in the coming years due to their nature to withstand harsh mining conditions. Continuous innovations are made by vendors to improve the alloy content of valve casing for making it strong. The adoption of control valves is also expected to increase during the forecast period due to the increased adoption of automation by mining industry players.

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Technavio’s industrial automation research analysts categorize the global valves market in the mining industry into the following segments by the application. They are:

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The top three application segments for the global valves market in the mining industry are discussed below:

Mineral fuels, such as coking coal, steam coal, lignite coal, uranium, and petroleum, are further used by various industries such as steel, power, pharmaceutical, chemical, and others after being refined. Multiple processes are involved in refining minerals ranging from extraction to electrowinning.

According to Bharath Kanniappan, a lead automation research analyst from Technavio, “Mining faces challenges such as high pressure, high temperature, leakage, and corrosion due to the presence of liquid and gases around. To counter these challenges, bidirectional ball valves and butterfly valves are used due to their capability to resist leakage of gas and liquid under any circumstances. Since reliable shut-off is a requirement in mineral fuel mining, rising stem ball valve is predominantly preferred. Special alloys to tackle corrosive environment and to make fire resistant valves are the innovations pertaining to this segment.”

Valves that are used to mine ferroalloys are high-performance knife gate valves are also used to tackle the challenges of tailing, heavy slurry, abrasion, wear and tear, and corrosion. Knife valves have a hard surface that is coated with chromium or nedox to withstand high temperature and minimize wear and tear. Vendors also customize knife gate valves according to the application.

“Asia-Pacific is a major producer of iron and ferroalloy metals, especially China, which accounts for more than half of the total production worldwide. Rapid industrialization and urbanization are expected to increase mining activities due to the anticipated increase in demand for batteries and metallurgical tools, which will increase the demand for valves in the next five years,” adds Bharath.

Latin America, Africa, China, and Australia are the major producers of non-ferrous minerals. The mining industry is suffering from the oversupply situation for all non-ferrous minerals due to the economic downturn in China and a subsequent drastic decrease in demand. However, during the forecast period, this mining segment is expected to increase due to the positive political environment in the Americas and the expected growth in the economy of China.

Environment pollution and the declining number of mines are the major challenges to the growth of this segment. To tackle this, international players are shifting to developing regions such as Africa.

The top vendors highlighted by Technavio’s research analysts in this report are:

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Technavio Research Jesse Maida Media & Marketing Executive US: +1 630 333 9501 UK: +44 208 123 1770 www.technavio.com

According to the study released by Technavio, the global valves market in the mining industry is expected to grow at a CAGR of almost 6% through 2021.

Technavio Research Jesse Maida Media & Marketing Executive US: +1 630 333 9501 UK: +44 208 123 1770 www.technavio.com