세계 극저온 밸브 시장 규모는 2024년 21억 2,000만 달러에 달했습니다. IMARC Group은 2025-2033년 연평균 성장률(CAGR) 3.6%로 2033년에는 29억 1,000만 달러에 달할 것으로 예상하고 있습니다. LNG 인프라의 확장, 산업 및 화학 처리 산업의 괄목할만한 성장, 지속적인 기술 발전, 에너지 효율에 대한 관심 증가는 주로 시장 성장을 가속하고 있습니다.
LNG 수요 증가
더 깨끗한 에너지 솔루션을 찾는 액화천연가스(LNG)에 대한 전 세계적인 수요 증가는 극저온 밸브에 대한 수요를 크게 증가시키고 있습니다. 예를 들어, Shell Global이 발표한 기사에 따르면, 액화천연가스(LNG)의 세계 수요는 2040년까지 50% 이상 증가할 것으로 예측됩니다. 세계 LNG 교역량은 2022년 3억 9,700만 톤에서 2023년 4억 4,000만 톤에 달할 것으로 예측됩니다. 이 밸브는 극저온에 대응할 수 있기 때문에 LNG 생산, 저장, 운송의 각 공정에서 필수적인 역할을 합니다. 이러한 요인으로 인해 극저온 밸브 시장은 향후 몇 년 동안 추진될 것으로 예측됩니다.
석유 및 가스 산업 확장
석유 및 가스 산업의 확장은 극저온 밸브 시장의 성장을 크게 촉진하고 있습니다. 천연가스 및 기타 극저온 유체를 운송 및 저장하기 위한 새로운 파이프라인 및 저장 탱크 건설에는 특수 밸브를 사용해야 합니다. 예를 들어, 2023년 12월, 전 세계적으로 약 228,700km의 가스 수송관이 개발 중이며, 총 공사비는 7,230억 달러에 달할 전망입니다. 극저온 밸브는 이러한 유체와 관련된 극저온 및 고압을 처리하는 데 사용됩니다. 이러한 요인들은 극저온 밸브 시장 예측에 더욱 긍정적인 영향을 미치고 있습니다.
기술 발전
첨단 개스킷 및 실란트 등 씰링 기술의 혁신은 누출을 줄이고 저온 환경에서의 성능을 향상시켜 극저온 밸브의 신뢰성을 높입니다. 예를 들어, 2023년 11월, FlowServe는 Worcester Cryogenic 볼 밸브를 출시하여 융합 배출을 관리할 수 있도록 지원했습니다. 이 밸브는 3피스 유형(CF44 시리즈)과 플랜지 유형(CF51/CF52 시리즈)으로 제공되며, 고강도 스템과 개선된 라이브 로드 스템 씰을 통해 우수한 퓨전 배기가스 관리를 실현하여 극저온 밸브 시장의 수익성을 높입니다.
The global cryogenic valves market size reached USD 2.12 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2.91 Billion by 2033, exhibiting a growth rate (CAGR) of 3.6% during 2025-2033. Expansion of LNG infrastructure, significant growth in industrial and chemical processing industry, ongoing technological advancements, and increased focus on energy efficiency are primarily driving the market's growth.
Rising Demand for LNG
The growing global demand for liquefied natural gas (LNG) for cleaner energy solutions has significantly boosted the need for cryogenic valves. For instance, according to an article published by Shell Global, the global demand for liquefied natural gas (LNG) is expected to increase by more than 50% by 2040. The global trade in LNG reached 404 million tonnes in 2023, up from 397 million tonnes in 2022. These valves are essential in the LNG production, storage, and transportation processes due to their ability to handle extremely low temperatures. These factors are expected to propel the cryogenic valve market in the coming years.
Expansion of the Oil and Gas Sector
The expansion of the oil and gas industry is significantly driving the growth in the cryogenic valves market. The construction of new pipelines and storage tanks for transporting and storing natural gas and other cryogenic fluids necessitates the use of specialized valves. For instance, in December 2023, there were nearly 228,700 kilometers of gas transmission pipes in development around the world, with a total cost of US$ 723 billion. Cryogenic valves are used to handle the extremely low temperatures and high pressures associated with these fluids. These factors further positively influence the cryogenic valves market forecast.
Technological Advancements
Innovations in sealing technologies, such as advanced gaskets and sealants, enhance the reliability of cryogenic valves by reducing leakage and ensuring better performance in low-temperature environments. For instance, in November 2023, Flowserve launched Worcester Cryogenic ball valves to assist in managing fugitive emissions. These valves, available in three-piece (CF44 series) and flanged (CF51/CF52 series) designs, include a high-strength stem and an improved live-loaded stem seal for superior fugitive emissions control, thereby boosting the cryogenic valves market revenue.
According to the cryogenic valves market outlook, ball valves use a spherical disc (the ball) with a hole through the middle. When the valve is open, the hole aligns with the flow path, allowing fluids to pass through. They offer quick quarter-turn operation, reliable sealing, and low-pressure drop. Ball valves are ideal for applications requiring fast shutoff and precise control. Moreover, check valves allow flow in one direction only, using a disc or ball that moves to block reverse flow. They prevent backflow and protect equipment from damage caused by reverse flow. They are crucial for maintaining system integrity and preventing potential contamination. Besides this, gate valves use a gate-like mechanism that slides up or down to open or close the flow path. They provide a straight-through flow path when open, minimizing turbulence.
According to the cryogenic valves market overview, liquid nitrogen is widely used in industrial processes, medical applications (such as cryopreservation and cryosurgery), and in research and laboratory environments. The demand for cryogenic valves in these applications is relatively high due to the extensive use of LN2. Moreover, liquid helium is crucial for applications requiring extremely low temperatures, such as in superconducting magnets (used in MRI machines and particle accelerators) and in scientific research. Its high demand in specialized fields makes cryogenic valves for liquid helium highly critical. Besides this, liquid hydrogen is used as a fuel in aerospace applications and in hydrogen fuel cells for energy. The growth of hydrogen-based technologies and increasing focus on clean energy contribute to the rising demand for cryogenic valves in these systems.
Cryogenic valves are used for handling liquefied gases like nitrogen, oxygen, and hydrogen, which are essential in various chemical processes. Moreover, in oil and gas, cryogenic valves are vital for transporting and processing liquefied natural gas (LNG) and other cryogenic hydrocarbons. The growing global demand for LNG, as a cleaner alternative to other fossil fuels, boosts the need for cryogenic valves. Besides this, the expansion of renewable energy sources, such as hydrogen energy, necessitates the use of cryogenic valves for hydrogen storage and distribution. Energy storage solutions like liquefied air energy storage also contribute to the demand.
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
According to the cryogenic valves market statistics, the North American market is driven by the growing demand for LNG and advancements in cryogenic technology. The U.S. and Canada have significant investments in LNG infrastructure and industrial applications, which drive the demand for cryogenic valves. Regulatory frameworks and standards related to safety and environmental considerations also impact market growth. Moreover, the growth in Europe is driven by the growing focus on energy efficiency, and investments in LNG and hydrogen infrastructure. Europe's regulatory environment, emphasizing sustainability and reducing carbon emissions, supports market growth. Apart from this, rapid industrialization across the Asia Pacific region, particularly in the manufacturing and petrochemical sectors, drives the need for reliable cryogenic valves.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include: