(MENAFN- GlobeNewsWire - Nasdaq) The global flame arrestor market size is anticipated to grow from USD 1 billion to USD 1.79 billion in 10 years. The market will experience rapid growth due to technological advancements in flame arrestor during the forecast period.
Newark, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1 billion in 2023 global flame arrestor market will reach USD 1.79 billion in 2033. As the name suggests, a flame arrestor is a device that either stops the spread of flames or stops them from spreading. It is an essential safety tool used in petrochemical, manufacturing, chemicals, metallurgy, oil and gas, and other industries where fire mishaps are common. It stops or slows the growth of the flames, yet it lets gases through. These arrestors are included into the building's current systems, such as the vent systems. They are incredibly robust and can tolerate harsh environmental conditions without losing their usefulness. According to rules and regulations, they are necessary. For optimum performance, they require inspections and routine maintenance.
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Key Insight of the Global Flame arrestor Market
Asia Pacific will dominate the market during the forecast period.
Flame arrestors are widely needed in the expanding oil and gas, chemicals, manufacturing, and industrial sectors of the region's rising economies, such as those of China and India. The government has improved its safety standards and regulations in response to an increase in fire and explosion events. The strict regulatory environment will help to increase demand for flame arrestors. The need for flame arrestors is rising as a result of increased awareness raised by social media, marketing initiatives, and ads. With a strong supply chain infrastructure, the area is also equipped to produce flame arrestors to meet market demand.
In 2023, the inline arrestor segment dominated the market with the largest market share of 57% and revenue of 0.57 billion.
The type segment is divided into inline arrestor and end-of-line arrestor. In 2023, the inline arrestor segment dominated the market with the largest market share of 57% and revenue of 0.57 billion.
In 2023, the oil and gas segment dominated the market with the largest market share of 40% and revenue of 0.40 billion.
The end user segment is divided into oil and gas, chemicals, pharmaceutical, mining, power generation, and others. In 2023, the oil and gas segment dominated the market with the largest market share of 40% and revenue of 0.40 billion.
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Advancement in market
Federal safety officials have issued a number of fuel container safety recommendations, warning the public about the risk of explosions and flames brought on by liquid fuel and fuel vapours, which can catch fire and cause fatalities and severe burns. The U.S. Consumer Product Safety Commission (CPSC) has produced fuel container and liquid fuel safety recommendations that state that only petrol cans with flame arrestors should be used. The organisation also gave customers advice on safe storage practices and recommended that they always have water on hand in case of a fire while working with liquid fuel sources.
Market Dynamics
Driver: Strict legal structure.
Government authorities are being forced to proactively monitor fire safety standards across businesses due to the rising number of fire accidents. This is especially the case for companies that employ combustible products and are therefore more prone to fires. In order to prevent preventable events, stricter criteria and their implementation have been put in place, along with more accountability mechanisms and frequent inspections. One essential component of these safety regulations is the installation of flame arrestors, which must be done in buildings. Businesses who violate these rules risk severe penalties and fines in addition to harm to their reputation. While flame arrestors are required in some industries, they are advised in others. Thus, the strict regulatory environment will propel the expansion of the worldwide flame arrestor market.
Restraints: Limited efficacy.
In situations where flame intensity is minimal, flame arrestors work wonders in stopping the spread of fire. They might not be as useful, though, in situations involving intense flames and explosions. Inadequate training about flame arrestors may result in incorrect installation, thereby diminishing their efficacy. Furthermore, improper maintenance of flame arrestors is a result of inadequate training, which shortens their lifespan and efficacy over time and raises costs. Businesses prefer advanced fire safety systems to unstable flame arrestors, and the availability of multiple options restricts the market's expansion. Thus, the expansion of the market will be constrained by flame arrestors' low effectiveness.
Opportunities: developments in technology.
The increasing requirement for flame arrestors in order to comply with regulations has spurred innovation, research, and development efforts to create more efficient flame arrestors. The usage of stronger, more durable modern materials has resulted from product advancements; these materials are perfect for harsh environments with high pressure, corrosivity, and temperatures. Moreover, design advancements have simplified maintenance and installation. Thus, during the forecast period, technological advances will propel the growth and development of the worldwide flame arrestor market.
Challenges: The lack of awareness.
flame arrestors do not necessarily show up as the most known or popular fire safety device given the lack of awareness about it. the lack of awareness may stem from neglect, lack of understanding about the functionality or lack of familiarity which makes it less trusted among consumers. the lack of training, information and necessary qualification to install, operate and maintain these further exacerbate these problems. Lax regulatory environment with poor implementation and accountability measures also contributes to the neglect of flame arrestors as an effective safety device in buildings. Therefore, the lack of awareness will hamper the global flame arrestor market's growth.
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Some of the major players operating in the global flame arrestor market are:
. Braunschweiger Flammenfilter
. Elmac Technologies
. Emerson Electric Co.
. Ergil
. L&J Technologies
. Morrison Bros. Co.
. Motherwell Tank Protection
. Protectoseal
. Tornado Combustion Technologies
. Westech Industrial
Key Segments covered in the market:
By Type
. Inline Arrestor
. End-of-line Arrestor
By End User
. Oil and Gas
. Chemicals
. Pharmaceutical
. Mining
. Power Generation
. Others
By Region
. North America (U.S., Canada, Mexico)
. Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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