In recent years, the demand for valves in developing countries and Middle East represented by China has grown rapidly, and it has begun to replace the EU and North America as a new engine of valve industry growth. According to McIlvaine's forecast data, by, the valve market size of Brazil, Russia, India and China ("BRIC countries") will be 1.729 billion US dollars, 2.607 billion US dollars, 2.165 billion US dollars and 9.827 billion US dollars, respectively, reaching a total of billion US dollars, an increase of 33.56% over 2011, and the proportion of the total market size to the market size will reach. As a traditional crude oil exporter, the Middle East countries are also extending to the downstream of the oil and gas industry through new oil refining projects in recent years, resulting in a large number of valve product demand.
The main reason for the rapid expansion of valve market in developing countries is that the rapid growth of economic aggregate in these countries has led to the development of downstream valve industries such as oil and gas, electric power, chemical industry, etc., thus stimulating the demand for related valves. According to the prediction of the International Monetary Fund, in 2012 and 2013, the average economic growth rate of emerging economies such as Brazil, Russia, India and China will reach 5.4% and 5.9% respectively; in the same period, the average economic growth rate of developed economies such as the United States, Japan and Germany will only be divided into 1.2% and 1.9%. Compared with the developing countries represented by China, North America and the European Union, as the traditional market of valve products, still occupy a large market share of the valve market, but the growth rate will tend to slow down.