Market Overview:
The Flow Sensors Market size is estimated to reach $10.1 billion by 2030, growing at a CAGR of 6.3% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Flow Sensors Market – By Type (Differential Pressure Flow Sensors, Positive Displacement Flow Sensors, Mass Flow Sensors, Open Channel Flow Sensors, Velocity Flow Sensors, Others), By Technology (Variable Area, Orifice Plate, Venturi Flow Sensors, Pitot Tubes, Oval Gear, Rotary Vane, Turbine Flow Sensors, Vortex Flow Sensors, Electromagnetic Flow Sensors, Ultrasonic Flow Sensors, Coriolis Flow Sensors, Thermal Flow Sensors, Mechanical Flow Sensors, Others.), By End-Use Industry (Oil and Gas, Food and Beverage, Water Management, Chemical & Pharmaceutical, Pulp and Paper, Aerospace, HVAC and Energy), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”. The increasing adoption of Flow Sensors in industrial water treatment processes, combined with their growing application in advanced water filtration and desalination technologies, is driving significant growth in the Flow Sensors market.
Asia Pacific Dominated the Market in 2023
Geographically, in the Flow Sensors share, Asia-Pacific is analyzed to grow with the highest CAGR of 6.2% during the forecast period 2023-2030. APAC has a rising need for Flow Sensors owing to the growth of the chemical sector, the expansion of oil and gas production, and the accessibility of cheap labor. According to Invest India, the market for chemicals and petrochemicals is anticipated to reach $300 billion by 2025. Flow Sensors demand will thus increase as a result of the expanding chemical industry. The region is also home to several major industries that require significant amounts of water, such as power generation, mining, and chemical manufacturing, which are all users of Flow Sensors.
Flow Sensors Market: Key Takeaways
Phosphonate Segment to Hold the Largest Market Share
In the Flow Sensors analysis, the phosphonate segment is estimated to hold the largest market share in 2022 as it is widely used for water treatment solutions using corrosion and scale inhibitors, as well as iron sequestrants. By integrating multiple functions in one molecule, phosphonates provide efficacy at low concentrations. These are also utilized in the manufacture of bleaching agents as a stabilizer. Phosphonates Flow Sensors are oxidized by hydrogen peroxide and ozone. Higher phosphonate oxidation results from the coordination of the phosphonate with dissolved calcium ions. Sulfonates also held a significant share and, owing to their growing use in the seawater treatment sector. For the desalination of seawater resulting in precipitation, sulfonates are commonly used. This has contributed to its rising penetration in the sector of seawater treatment. Offshore oil and gas facilities that require Flow Sensors for seawater desalination have also experienced an increase in demand.
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Water Treatment is the Fastest Growing Segment
According to the Flow Sensors forecast, the water treatment segment is estimated to grow with a CAGR of 6.2% during the forecast period. Flow Sensors is the preferred pretreatment method for water systems due to its unmatched effectiveness in reducing membrane fouling. When used properly, Flow Sensors extends the time between membrane cleanings from a few weeks to years in some cases. In August 2023, LG Chem announced that it will invest approx. US$97.9 million by July 2025 to expand its Cheongju plant by adding a facility capable of producing 400,000 RO membranes annually. The planned expansion will desalinate 1.57 billion tons (4.32 million tons per day) of water annually. This water can be used by approximately 16 million people, which is about one-third of the entire Korean population. With the growing threat of water scarcity, there is a growing demand for water treatment solutions which fuels the growth of the Flow Sensors.
Scope of the Report:
Recent Developments:
- The Trutzschler Card Clothing (TCC) has announced on Dec 2022, that it would invest $13.2 million in expansion of production facilities across Germany, where the UV cured printing could be used for dyeing and printing on fabrics. In owing to this, the Flow Sensors market is analyzed to grow.
- Flint Group, a global print consumables manufacturer, has announced the early success of its UV LED ink range, EkoCure Ancora F2 with dual curing capability, following its launch in Europe at the end of 2022. The company’s UV LED dual cure ink range is specially designed for food packaging and labelling with optimized curing speed, improved rheology and lower viscosity
Flow Sensors Market: Competitive Landscape
Key companies profiled in the Flow Sensors Market are BASF SE, The Dow Chemical Company, Kemira Oyj and others.
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