Cryogenic Valves Market, By Product Type (Ball Valve, Check Valve, Gate Valve, Globe Valve, and Others), By Gas (Liquefied Natural Gas, Liquid Nitrogen, Hydrogen, Oxygen, and Other Gases), By End-User Industry (Chemicals, Oil and Gas, Energy and Power, Food and Beverages, Medical, and Other End-user Industries), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa)

Published In : Sep 2023

Code : CMI5239

Pages :164

Formats :

Excel and PDF

Industry : Advanced Materials

Market Challenges And Opportunities

Global Cryogenic Valves Market: Restraints

Safety concerns regarding the operation of liquefied gases are expected to hamper the growth of the global cryogenic valves market. Liquefied gases are highly cryogenic in nature and need to be handled with the utmost care. The extreme cold of cryogenic liquids requires special care in their use. Cryogen leakage is not only dangerous but also expensive, considering the cost of making gas into a cryogen in the first place.
High production costs are expected to hinder growth of the cryogenic valves market. For instance, volatile metal prices increase the cost of production.
Counter balance: Increase in demand from food and beverage industry is expected to provide significant growth opportunities for players in the global cryogenic valves market. For instance, cryogenic valves find wide applications in factories that deal with processed foods and beverages.

Market Opportunity:

Technological upgrades in the space industry are expected to offer lucrative growth opportunities for players in the cryogenic valves market. For instance, cryogenic valves for space exploration are used in propulsion systems and actuators that deliver and create propulsion. Researchers at NASA's Marshall Space Flight Center have developed a cryogenic isolation valve that utilizes the upstream line pressure of cryogenic fluids for actuation. NASA's cryogenic isolation valve eliminates the need for the complex support systems that are necessary with electromechanical and pneumatic actuation systems.
An increase in demand from the food and beverage industry is expected to provide significant growth opportunities for players in the global cryogenic valves market. For instance, cryogenic valves find wide applications in factories that deal with processed foods and beverages. Cryogenic solutions facilitate the utilization of food-grade industrial gases necessary to meet increasing consumer demand for quality, freshness, variety, and convenience. The use of cryogenics has become well established over the last decade to maintain high-quality food.