Low-cost manufacturing countries of the world will be utilizing an increasing percentage of the world’s valves. Traditional manufacturers are challenged by the low selling prices and lack of access. This lack of access is mostly due to the inattention of the large valve suppliers. But as these countries use a larger percentage of the world’s valves, it is desirable to address the increasing market share rather than neglect these markets.
Population and GDP are two of the best indicators of future valve demand. The population of Asia is now 4.81 billion and will increase to 5.05 billion by 2035. The population of Africa is now 1.53 billion but will increase to 1.89 billion by 2035. At that time, it is estimated that these two areas will have 78% of the world’s population.