The world market for valves used by industry will grow to $65 billion in 2017, adding more than $10 billion to current annual sales, according to the latest forecast.

The report shows East Asia will account for more than 30 percent of the market in 2017. Mostly new infrastructure and heavy industrial spending will drive the growth in this region. More power plants will be built in this region in the next five years than in the rest of the world combined. The investment in municipal wastewater treatment and drinking water facilities will also outpace other regions. East Asia will dominate the production of semiconductor chips, flat panels, solar voltaic cells, and other devices requiring high-performance valves for ultrapure water.

The growth in NAFTA will be led by the non-conventional oil and gas sector. Pennsylvania, Texas, and other states in the West will expand their production of gas and oil from shale. This will generate very substantial investments in valves.

Western Europe will be a slow growth market characterized by a large percentage of replacement valves for existing plants as opposed to valves for new plants. Eastern Europe will reflect growth in expenditures to meet environmental regulations required for European Union membership.

The report shows Middle East expenditures will rise as the region increasingly becomes a supplier of refined rather than raw products. Valve sales in this region will also be boosted by the desalination plant investments.

According to report ocean will play a role in valve industry growth in several ways. New regulations for ballast water treatment and scrubbing of vessel stack emissions will boost the sales of valves for existing and new vessels. And expanded production of oil and gas from subsea sources will require many large and expensive valves.