asia/pacific India: Industrial Valve Supply & Demand Demand for industrial valves in India totaled $1.

4 billion in 2010, and the country was the second fastest growing market in the Asia/Pacific region during the 2000-2010 period, trailing only China. Gains have been in large part due to the economic reforms that have been made, resulting in robust increases in fixed investment expenditures and an expansion of the countrys manufacturing sector. Indias crude oil and refinery industries also represent significant markets for industrial valves. The countrys process manufacturing sector encompasses many valve-using industries, including chemicals, primary metals and food processing, among others. Given the wide array of applications, the Indian valve market necessitates the use of a large variety of valve types, including automatic control, quarterturn, pressure reducing, safety/relief, and steel gate and globe valves. Shipments of industrial valves in 2010 from facilities in India totaled $1.3 billion, making it the fourth largest supplier in the region behind China, Japan and Taiwan. Thanks to a healthy macroeconomic environment, valve production grew at a strong 8.9 percent annual rate during the 2000-2010 period, increasing the trade deficit in these products to $130 million in 2010. Industry output consists largely of lowerend, commodity-type items. Higher-end valves constitute the majority of the countrys imports, with major sources of supply including China, Germany and the US. India also exports, with the US being the biggest export market. The market for industrial valves in India is expected to increase at an 11.8 percent annual pace through 2015 to $2.4 billion, faster than the growth rate of the 2005-2010 period and among the strongest performances in the world. Fueling gains will be a healthy economic climate and continued development of the nations process manufacturing

Item 2000 2005 2010 2015 2020 Gross Fixed Investment (bil 2009$) 449 840 1337 2035 2950 $ valves/000$ fixed investment 1.3 1.0 1.0 1.2 1.3 Industrial Valve Demand 600 850 1400 2440 3830 Conventional: 350 480 770 1310 2070 Standard Multiturn 120 150 240 400 650 Quarterturn 80 120 190 350 540 Other 150 210 340 560 880 Automatic: 250 370 630 1130 1760 Control Valves 140 210 350 650 1000 Regulator Valves 100 140 240 400 650 Automatic Actuators & Other 10 20 40 80 110 net exports -60 -50 -130 -540 -1030 conventional -40 -30 -60 -290 -570 automatic -20 -20 -70 -250 -460 Industrial Valve Shipments 540 800 1270 1900 2800 Conventional 310 450 710 1020 1500 Automatic 230 350 560 880 1300 % India 4.5 4.4 4.3 4.7 5.2 Asia/Pacific Industrial Valve Shipments 12030 18100 29310 40250 53350