Increased demand for valves from healthcare & pharmaceuticals industries and growing investment in research & development are some of the major factors driving the market growth.

Increasing demand from aerospace segment is one of the major reasons behind this market growth. The cost of carbon fibres is directly proportional to the cost of precursor raw materials from which they are obtained.

Growth in the importance of safety valves in industrial practice and the expansion of nuclear energy generation are the main driving factors for developing the market’s growth.

Technological advancement in oil field equipment, an increase in global investments in exploration and production (E&P), and a rise in unconventional hydrocarbon production are expected to lead the growth of market during the forecast period.

The increasing demand for high-class products is the most crucial issue for milling machines’ growth in demand. An upsurge in demand for computer numerical control (CNC) machines due to its cutting-edge procedure and accurate cutting has boosted these machines’ need.