The global explosion panels market was valued at USD 295.9 million in 2019 and is anticipated to reach USD 384.5 million by 2027, expanding at a CAGR of 6.8% during the forecast period. Explosion vents or panels are safety devices installed to protect equipment or buildings against extreme internal explosion-incurred pressures, by providing pressure relief. These vents and panels relieve pressure instantly from their openings. Major applications of these vents and panels are dust, gas, or mist explosion. These vents and panels provide reliable relief at or below burst pressure, even when damaged. They require little maintenance and are easy to replace. A few types of vents and panels are for single use, whereas some are reusable. These vents and panels are available in different shapes such as round, square, and rectangle and are available in varying dimensions and sizes. Rectangular shape panels come under with two different shapes such as rectangular domed and rectangular flat panels. The rectangular domed explosion vents are designed for high vacuum and high-cycling applications such as dust collectors and bag houses. This design is more durable and negative pressure resistant without additional vacuum support. The rectangular flat vent is made from stainless steel and provides long-term durability.
Increasing use of explosion panels by various end-user industries including oil & gas, automobile, and energy & mining is one of the major factors contributing to the market growth. Compulsion to adhere to the rules & regulations by industries for the protection from industrial fire or explosion going to affect the market. Several benefits and features provided by these panels over others substitutes are key factors expected to drive the growth of explosion panel market. Lack of awareness about such availability of safety systems among people and need for replacement of explosion panel after use are few factors hampering the market growth. Increasing demand for such panels by industries such as healthcare and power generation is projected to create ample opportunities in the market.
Increasing investments by various industries are expected to increase significantly to improve safety measures related to explosion and fire safety. Industrial safety plays a vital role in protecting their employees, workers, industrial environment, surrounding infrastructure, equipment, and assets. This, in turn, is propelling the demand for industrial safety equipment in the oil & gas, automotive, and construction industries.
On the basis of types, the global explosion panels market is categorized into Dome shape, and Flat Shape. The Flat panel segment held over half of the market share in 2019 and is expected to witness lucrative growth during the forecast period. The domed shaped single section metal explosion vents are known for having integral gaskets. A dome shape is formed to resist vacuum. Both panels are available in flat, round, and rectangular design to be fixed on the structure for protection against explosion. It is designed for static or atmospheric pressure service conditions. These panels needs to be installed in a safety frame with vacuum support bars to resist vacuum or back-pressure. Both types of explosion panels/vents are suitable for positive pressures of up to 60% of the minimum burst pressure.
Based on applications, the market is segregated into dust explosion, gas explosion, and others. The gas explosion segment accounted for a market share of over 38% in 2019. As gas explosion can cause severe harm to industrial structure, workers, and surrounding area, installation of explosion panel is mandatory across various industries. Explosions are deadly hazards and can occur in several different industrial environments. Explosion panels/vents are used for providing precaution against dust, gas explosion, mist explosion and others. It play important role in fire safety and reduce the possible harm caused by explosion.
Based on end-user industries, the market is fragmented into oil & gas, automobile, chemical, pharmaceutical, food & beverages, and others. The pharmaceutical segment is anticipated to expand at significant CAGR during the period from 2020 to 2027. The pharmaceutical industry is one of the important industries, as it provides lifesaving medicines and several essential products. Companies operating in this industry are susceptible to the risk of dust, fire, and explosion at the manufacturing plant, as there are various raw materials and chemical compounds used in the pharmaceutical drug manufacturing. Many synthesis and sterilization procedures are performed in pharmaceutical industries, which increases the chances of boiler explosion and chemical explosion. These types of explosion can cause severe injuries, health issues, or death. Wall or roof panels can be used in such manufacturing companies to prevent damages occurring due to explosion.
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to grow at a significant pace during the forecast period, owing to the growth of a significant number of industries and increasing demand for explosion panels by these industries. Moreover, the market in the Middle East & Africa and Latin America is expected to grow at a high pace owing to the increase in industrialization and rise in oil & gas exploration and production activities.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers product specific information such as Flat Panel and Dome Panel.
According to this Growth Market Reports report, the market from Explosion Panels is likely to register a CAGR of 6.8% during forecast period 2020-2027, with an anticipated valuation of USD 384.5 million by the end of the 2027.
The rising safety concerns about safe industrial operations and increasing use in the various end-user industries including oil & gas, automobile, and energy & mining are some of the factors driving the market growth.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The COVID-19 pandemic has negatively impacted the market growth during year 2019 -2020 to a major extent.
The base year considered for the global explosion panels market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Oil and gas, automobile, chemical, pharmaceutical, and food & beverages industries are the key end-users that are driving the explosion panels market growth.
Major Manufactures include Fike Corporation, Construction Specialties, Inc., Halma plc, BS&B Safety Systems, L.L.C., Continental Disc Corporation, and Atex Explosionsschutz GmbH among others.
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