PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250725
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250725
According to Stratistics MRC, the Global Flame Arrestors Market is accounted for $9.13 billion in 2022 and is expected to reach $13.10 billion by 2028 growing at a CAGR of 6.20% during the forecast period. The flame arrestor is a device used to stop a flame from turning into a large fire by extinguishing it in the early stage. These are non-moving, passive devices. It works on the principle of absorbing the heat from the flame and dropping the temperature of the gas mixture below its ignition temperature. The heat is dissipated through the channels, which are frequently formed of wire mesh or metal sheets with punched holes. It enables advantages such as cheapness, relatively light construction of the casing, and the minimising of weight. Flame arrestors are used across various end-user sectors, such as Oil & Gas, Chemical, Pharmaceutical and Waste-to-Energy Plant.
Rapid growth of manufacturing sector
One of the major possibilities for the market for flame arrestors is the expansion of the industrial sector. Manufacturing is expanding quickly in nations like China, India, and Indonesia, particularly in the petrochemical, pharmaceutical, textile, and heavy sectors. Flame arrestors, in particular, have a lot of prospects as a result of the expansion of the industrial sector in these areas and therefore fuelling the market expansion.
Lack of efficient government monitoring
For the purpose of regulating and advising companies on safety standards and other procedures to be followed for the safety of the environment and human resources, separate regulatory bodies have been established in the majority of countries. However, one major issue that is anticipated to impede market expansion over the projected period is a lack of effective government oversight for industrial safety.
Replacement of legacy equipment in industries
The market for flame arrestors has a chance to expand as industries replace outmoded flame arrestors. With improved protection technology and high-quality flame quenching elements utilized in the equipment, flame arrestor technology has advanced over time. Industries that installed flame arrestors in the 1980s and 1990s did so with outdated technology; as a result, they are choosing to replace that equipment with modern technology which is the driving the market demand.
Additional costs
Customizing a product's specifications adds to the expense of complying with a particular nation's regulations. There are difficulties with competitive pricing because each country's testing and certification process has additional costs. Also, since different nations have varying rules and requirements for equipment certification, it is difficult for makers of flame arrestors to grow into new areas. This factor is hindering the market growth.
Most corporate operations have ceased as a result of the worldwide pandemic epidemic. This has created a huge decline in the market's demand for energy, which has had a negative influence on the oil and gas sectors all over the world. As a result, the need for flame arrestors in the oil and gas sector also fell quickly. The demand for flame arresters was significantly increased by the resumption of various sectors in the first quarter of 2020 following the standstill brought on by the worldwide pandemic.
The oil & gas segment is expected to be the largest during the forecast period
The oil and gas segment is estimated to have a lucrative growth, due to guidelines and safety measures from various governments. More than any other business, the oil and gas sector works primarily with materials that are more likely to catch fire. There have been a number of incidents in the oil and gas sector in the past. Governments all around the world opted to install flame arrestors in locations with a higher likelihood of generating a spark in order to prevent and manage such events. These aspects are driving the segment's growth.
The chemical segment is expected to have the highest CAGR during the forecast period
The chemical segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its effective prevention of the propagation and transmission of a flame or flame front. Flame Arrestors are frequently employed in chemical plants because they reduce the likelihood of fire and explosion. They are also used in certain places like distillation columns, storage tanks, and reactors. Ammonia, chlorine, and hydrogen fluoride are a few of the frequently used chemicals that make use of Flame Arrestors. These elements are fuelling the segment's demand.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing energy demand. The usage of flame arrestors by diverse sectors has seen significant breakthroughs in this region. The percentage of energy consumed demonstrates the region's expanding industrialization in response to the energy demand. The presence of the leading oil industries in this area will likely fuel the growth of the flame arrestor market over the course of the projected period.
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to its sustained investments in refinery. This area is making significant investments in the building of tank farms, stowage terminals, and refinery expansion. The region's rapidly expanding chemical and pharmaceutical industries are also playing a significant role in the expansion of the flaming arrestor market worldwide. The global market for flame arrestors is predicted to grow due to the region's expanding manufacturing sector in Asia Pacific.
Some of the key players profiled in the Flame Arrestors Market include Emerson Electric Co, Flammer GmbH, Elmac Technologies Ltd, D-Ktc Fluid Control SRL, PROTEGO Braunschweiger Flammenfilter GmbH, The Protectoseal Company Inc, WITT-Gasetechnik GmbH & Co. KG, Sunflow Technologies, Essex Industries Inc, Braunschweiger Flammenfilter, Motherwell Tank Protection, L&J Technologies, Bs&B Safety Systems, Ergil, Tornado Combustion Technologies, Westech Industrial and Groth Corporation.
In September 2022, Emerson, a global technology and software leader, announced a new "Go Boldly" tagline and global ad campaign reinforcing the evolution of the long time manufacturing powerhouse. Go Boldly spotlights the ways Emerson is helping the world's largest companies reach their sustainability goals and optimize operations.
In January 2017, Elmac Technologies launches new website. The new website showcases the company's innovative range of end-of-line and in-line flame arresters, in-line detonation arresters, tank protection valves and hatches, bursting discs and accessories.
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All the customers of this report will be entitled to receive one of the following free customization options: