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Report
Flame Arrestors Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 125 Pages I Mordor Intelligence
The flame arrestors market is expected to register a CAGR of more than 2% during the forecast period (2022-2027). The COVID-19 outbreak indirectly impacted the market by reducing the demand for goods from the chemical, power generation, and oil and gas industries. However, the resurgent growth after Q2 2021 positively impacted the market. Further, stringent government regulations, particularly for the chemical and oil and gas industries to install flame arrestors for safety purposes, may drive the flame arrestors market. Volatile crude oil and gas prices, which are leading to decreased investments, are likely to restrain the flame arrestors market during the forecast period.
Key Highlights
Due to the increasing annual production and refining capacity, the oil and gas segment is expected to be the largest segment in the flame arrestors market during the forecast period.
New technological advancements in replacing the old flame arrestors (due to their outdated technology) are expected to create several opportunities for the flame arrestors market in the coming years.
Asia-Pacific is expected to dominate the flame arrestors market during the forecast period, with most of the demand coming from countries like China and India.
Flame Arrestors Market Trends
Oil and Gas Segment Expected to Dominate the Market
Flame arrestors, also known as deflagration or flame traps, allow gas to pass through them but stop a flame to prevent a massive fire or explosion. Flame arresters are applied in various situations, such as transporting oil and gas through pipelines.
The oil and gas industry majorly deals with materials that are more prone to attract fire than any other industry. The oil and gas industry witnessed several accidents in the past. To prevent and control such events, governments worldwide decided to install flame arrestors at places with more probability of generating a spark (especially in the oil and gas industry). Such guidelines and safety measures from various governments are expected to drive the usage of flame arrestors in the oil and gas industry.
In 2020, the global gas production was 3853.7 bcm, i.e., an increase of about 9.7% compared to the gas production in 2015 (3511.7 bcm). Also, in 2020, the global oil refining capacity amounted to 101,947 thousand barrels per day (bpd), an increase of about 4.1% comapred to 2015 (97,898 bpd). This increment in the production and refining sectors of the oil and gas industry, where flame arrestors are majorly used, is expected to drive the market during the forecast period.
In September 2021, Bharat Petroleum Corporation Ltd planned to invest USD 13.66 billion over five years to improve petrochemical capacity, refining efficiency, and upstream oil and gas exploration and production activities. Thus, such large-scale projects are augmenting the industry's infrastructure, which is expected to increase the need for accessories such as flame arrestors.
Hence, such factors are likely to boost the oil and gas segment in the flame arrestors market during the forecast period.
Asia-Pacific Expected to Dominate the Market
Due to the constant increase in the energy demand, Asia-Pacific has several projects in the oil and gas, chemical, power generation, and mining sectors, which help the region become the largest market for flame arrestors globally.
Most of the countries in the region, such as China, India, and Indonesia, are developing nations and have a growing energy demand and requirement for pharmaceuticals. Due to this growing energy demand, Asia-Pacific has been attracting several investments in various industries that use flame arrestors.
As of 2020, the energy consumption of the Asia-Pacific region was 253.25 exajoules, which accounted for approximately 45% of the total energy consumption in the same year. The share of energy consumption exhibits the increasing industrial development in the region to fulfill the energy demand, which is likely to drive the flame arrestor market during the forecast period.
As of 2021, Santos Ltd, Adelaide, let a contract for the construction, connection, and operation of the floating production, storage, and offtake (FPSO) vessel for Barossa gas-condensate field development in the Timor Sea to BW Offshore. The contract was subjected to a final investment decision (FID) for the USD 3.6 billion Barossa project. This project is designed to backfill the gas supply to the Darwin LNG plant, which is being fed by gas from the Bayu-Undan field. The field is expected to produce gas and condensate, for which flame arrestors are likely to be used to prevent the generation of sparks.
In January 2022, S-OIL, a Korean company, signed four MOUs with Saudi Aramco aimed at collaborating on alternative energy business, including Thermal Crude to Chemicals (TC2C) technology, R&D on the production of lower-carbon future energy, and investment in venture capital. The new Crude2Chemicals technologies are expected to produce ethylene and other necessary chemicals from naphtha and refinery off-gas.
Hence, such factors are likely to help Asia-Pacific become the largest market for flame arrestors during the forecast period.
Flame Arrestors Market Competitor Analysis
The flame arrestors market is moderately consolidated. Some of the key players in the market include Emerson Electric Co., Elmac Technologies Ltd, PROTEGO Braunschweiger Flammenfilter GmbH, The Protectoseal Company Inc., and WITT-Gasetechnik GmbH & Co KG.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Inline Arrestor
5.1.2 End-of-line Arrestor
5.2 End User
5.2.1 Oil and Gas
5.2.2 Chemicals
5.2.3 Pharmaceutical
5.2.4 Mining
5.2.5 Power Generation
5.2.6 Other End Users
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Emerson Electric Co.
6.3.2 Elmac Technologies Ltd
6.3.3 PROTEGO Braunschweiger Flammenfilter GmbH
6.3.4 Flammer GmbH
6.3.5 D-Ktc Fluid Control SRL
6.3.6 The Protectoseal Company Inc.
6.3.7 Sunflow Technologies
6.3.8 WITT-Gasetechnik GmbH & Co. KG
6.3.9 Essex Industries Inc.
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