Thermoplastic Solenoid Valves Market Is Expected To Reach A Revenue Of USD 641.6 Mn By 2033, At 5.7% CAGR: Dimension Market Research

New York, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Overview

The Thermoplastic Solenoid Valves Market size is expected to reach USD 389.1 million by 2024 a nd is further anticipated to reach USD 641.6 million by 2033 according to Dimension Market Research. The market is anticipated to register a CAGR of 5.7% from 2024 to 2033.

Thermoplastic solenoid valves are the valves that are build for electrical devices that handle the flow of fluids by a pipe or tube by using an electromagnetic coil to open or shut the valve. These valves are made from thermoplastic materials, including CPVC, PVC, or polypropylene, which delivers high resistance to chemicals and corrosive environments.

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The US Overview

The Thermoplastic Solenoid Valves Market in the US is projected to reach USD 114.2 million in 2024 at a compound annual growth rate of 5.4% over its forecast period.

In the US, the thermoplastic solenoid valve market is increasing due to investments in infrastructure, water treatment, and chemical processing, driven by the need for corrosion-resistant, efficient solutions. However, competition & alternative valve technologies are creating challenges, potentially impacting the adoption despite the benefits of thermoplastic valves in specific sectors focused on sustainability and technological advancements.

Important Insights

• The Thermoplastic Solenoid Valves Market is expected to grow by USD 232.6 million by 2033 from 2025 with a CAGR of 5.7% .
• The flanged type is anticipated to dominate in 2024 with a majority & is anticipated to lead throughout the forecasted period.
• The water & water waste segment is projected to get the biggest market share in 2024 in the Thermoplastic Solenoid Valves Market.
• North America is predicted to have a 34.1% share of revenue share in the Global Thermoplastic Solenoid Valve Market in 2024.

Global Thermoplastic Solenoid Valves Market: Trends

• Eco-Friendly Solutions : A higher focus on environmentally sustainable and energy-efficient valves is driving the need for thermoplastic options over metal alternatives.
• Advanced Material Technology : The innovation of superior polymers and composites is improving the durability, chemical resistance, and performance of thermoplastic solenoid valves.
• Customization and Automation : The growth in the demand for customized valves & incorporation with automated systems for better fluid control is shaping market trends.
• Industry-Specific Solutions : The expansion of thermoplastic valve applications in specialized sectors like pharmaceuticals, food processing, and biotechnology is becoming a key trend.

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Thermoplastic Solenoid Valves Market: Competitive Landscape

The thermoplastic solenoid valve market consists of a mix of established and emerging players, competing through innovations in material technology & better valve performance. Key competitive factors such as product durability, efficiency, affordability, and customization. Companies also aim for customer support and specialized solutions, to meet a dynamic and evolving market as they look for technological developments and industry-specific adaptations.

Some of the major players in the market include AVFI, Plast-O-Matic, Burkert, Norgren, Lee Company, and more.

Some of the prominent market players:

• AVFI
• Plast-O-Matic
• Burkert
• Norgren
• Lee Company
• Bimba Manufacturing
• Parker Hannifin
• SMC Corporation
• Festo
• Rotork
• Other Key Players

Thermoplastic Solenoid Valves Market Scope

Regional Analysis

North America is a leader in the growth of the thermoplastic solenoid valve market, projected to hold 34.1% of the total market share in 2024. Its strong industrial base, advanced technologies, and focus on eco-friendly, energy-efficient systems drive demand, mainly in water treatment, chemical processing, and automotive sectors. The region's infrastructure upgrades, mainly in water management, further boost opportunities. Further, Asia Pacific is the fastest-growing market due to rapid industrialization in China and India, where expanding sectors like water treatment and manufacturing demand durable, cost-effective valves.

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By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

Segment Analysis:

Water & wastewater management is set lead the thermoplastic solenoid valve market in 2024, as these valves are vital in water treatment plants, irrigation systems, and sewage management due to their corrosion, chemical, and scaling resistance. Their durability & affordability make them ideal for environments where metal valves fail. As global water management efforts expand, the need for reliable, low-maintenance valves rises. In chemical processing, thermoplastic solenoid valves are important for handling corrosive chemicals, providing durability and cost-effectiveness, fueling their growth as the chemical industry seeks efficient solutions.

Thermoplastic Solenoid Valves Market Segmentation

By Type

• Flanged
• Jointed
• Threaded

By Application

• Water & Water waste
• Food & Beverage
• Chemical Processing
• Petrochemical
• Others

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Global Thermoplastic Solenoid Valves Market: Driver

• Infrastructure Upgrades : Investments in upgrading water management & chemical processing infrastructure drive the need for durable, corrosion-resistant valves.
• Environmental Focus : The increase in the adoption of eco-friendly and energy-efficient systems boosts the demand for lightweight, low-maintenance thermoplastic valves.
• Industrial Expansion : The increase in industries like water treatment, chemical processing, and automotive manufacturing increases the need for efficient fluid control solutions.
• Material Innovation : Development in polymer technology enhances valve performance, driving competition and market growth.

Global Thermoplastic Solenoid Valves Market: Restraints

• High Competition : Intense competition from established players & alternative valve technologies limits market penetration.
• Availability of Substitutes : Metal and other alternative valve materials may be chosen in certain applications, reducing thermoplastic valve adoption.
• Cost Concerns : Initial costs for advanced thermoplastic solenoid valves may impact some industries from adopting them over traditional options.
• Limited Awareness : In some sectors, limited awareness of the advantages of thermoplastic valves, such as corrosion resistance and durability, can impact market growth.

Global Thermoplastic Solenoid Valves Market: Opportunities

• Sustainability Trends : The increase in the demand for eco-friendly, corrosion-resistant valves in water & chemical treatment supports market expansion.
• Infrastructure Development : Enhancing aging infrastructure, mainly in water management, develops higher demand for durable thermoplastic valves.
• Industrial Growth in Emerging Markets : Fast industrialization in regions like Asia Pacific provides new opportunities for thermoplastic solenoid valves in expanding sectors.
• Technological Advancements : Innovations in polymer materials and valve design enable enhanced performance, opening doors for specialized applications and customization.

Recent Developments in the Thermoplastic Solenoid Valves Market

• August 2024: SMC Corporation unveiled a compact 5-port solenoid valve, as extended the JSY3000 valve series in its latest iteration, giving access to optional pressure sensor compatibility and enhancing convenience & flexibility for industrial automation.
• August 2024: Rotork launched the addition of new features to the industry-leading IQ3 Pro range of intelligent actuators, which contains higher speeds for the IQT3F Pro electric modulating actuators, independent open/close speeds for part-turn actuators, & closed-loop control for both multi-turn and part-turn actuators.
• September 2023: Asahi/America, Inc. announced a partnership with McElroy Manufacturing, to provide industry-leading fusion equipment to the market, compatible with Asahi/America's thermoplastic piping systems.
• August 2022: PMC Hydraulics unveiled the Sun Common (SC) cavity cartridge valves, which are optimized for lower-pressure systems, and consist of a common SAE-style cavity, which is compliant to SAE cavity standard ISO 17209:2013.

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