BUTTERFLY VALVES use what has been termed "a rotating disc" to reduce or shut off flow in a pipe. The disc or "wafer" pivots on a central axle connected to a handle or other control device outside the valve.
When the thin disc is positioned parallel to the direction of flow, fluids move freely around it. As the disc is rotated it takes up more and more of the diameter, choking off the flow. At 90 degrees, the disc seals against seats in the valve body to stop flow altogether.
This design is considered well suited to applications in which frequent throttling of flow is required. Butterfly valves are commonly specified in situations where high volumes of gases or liquids are moving under relatively low pressure.