Significant growth expected in flame arrestor market

The global flame arrestors market is estimated to be $713.8-million in this year and is projected to reach $924.7-million by 2023, at a compound annual growth rate of 5.31%, according to research company Research and Markets.

In their report titled ‘Flame Arrestors Market by Type (In-Line and End-of-Line), Application (Storage Tank, Pipeline, Incinerator, Ventilation System), End-user (Oil & Gas, Chemical, Pharmaceutical, Waste-to-Energy Plant), and Region – Global Forecast to 2023’, they explain that stringent safety norms and regulations in industries and the growing demand for shale gas and tight oil are expected to the drive the growth of the flame arrestors market.

Further, the in-line segment is expected to experience the most growth because of the rising demand for detonation arrestors for pipelines and the ventilation systems of storage terminals in the oil and gas industry.

The research segments the flame arrestors market by application, into storage tanks, pipelines, incinerators, ventilation systems, and others. The ‘others’ segment includes generators, vacuum pumps and compressors. The storage tank segment is estimated to hold the largest share of the market during the forecast period. Growth in the oil and gas terminals as a result of increased investments in refineries and petrochemicals industries is driving the growth for the storage tank segment.

In addition, the flame arrestors market has been segmented, by the end-user, into oil and gas, chemicals, metals and mining, pharmaceuticals, waste-to-energy plant, and others. The others segment includes food and beverage, marine, and primary non-metallic industries. The oil and gas segment is estimated to hold the largest market share by 2023. The shale gas and tight oil boom in North America and the Asia Pacific is the driving factor for the growth of the oil and gas segment in the flame arrestors market.

The research analysed the flame arrestors market in six regions: North America, Europe, the Asia Pacific, South America, the Middle East, and Africa. The Asia Pacific market is expected to dominate the flame arrestors market during the forecast period. Continued investments in refinery expansion and construction of storage terminals and tank farms in the region are driving the growth of flame arrestors in the Asia Pacific. The rapidly growing pharmaceuticals and chemicals industries in the region are further contributing to the growth.

However, the major factor restraining the growth of the flame arrestors market is the lack of effective monitoring of safety instrumentation in emerging economies. This restraining factor is particularly prevalent in the Asia Pacific region, especially in China, India and Indonesia where small and midsized manufacturers opt for hazard prevention equipment like gas blanketing systems to save costs rather than installing hazard protection equipment like flame arrestors.

Some of the leading players in the flame arrestors market include Emerson (US), Braunschweiger Flammenfilter (Germany), Elmac Technologies (UK), Protectoseal (US) and Tornado Combustion Technologies (US).