Explosion Panels Market Outlook:
The global explosion panels market size 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 2020 - 2027. 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.
Explosion Panels Market Dynamics
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.
Explosion Panels Market Segmental Outlook
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.
Regional Outlook
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.
Competitive Landscape
- Key players in the explosion panels market share include Fike Corporation, Construction Specialties, Inc., Halma plc, BS&B Safety Systems, L.L.C., Continental Disc Corporation, and Atex Explosionsschutz GmbH among others. These companies are considered as key manufacturers of explosion panels based on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.
- The players are adopting key strategies such as acquisition, new product launches, and geographical expansion in order to strengthen their market position.
- In September 2018, Fike Corporation announced the opening of full-service office and manufacturing facility in JAFZA. This opening of fully-fledged office in Dubai helped the company to increase its operations and strengthen its presence in Middle East and North Africa (MENA).
- On February 18, 2020, Elfab which is a company of Halma plc entered into a partnership with Induchem for expanding Elfab’s market reach as well as pressure relief solutions offerings for process industries. This partnership is aimed at making Elfab’s product spectrum widely accessible in UK and Republic of Ireland.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Explosion Panels Market
- Historical, Current and Projected Market Size in terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Explosion Panels Market Performance
Segments
By Types
By Applications
- Dust Explosion
- Gas Explosion
- Others
By End-user Industries
- Oil and Gas
- Automobile
- Chemical
- Pharmaceutical
- Food & Beverages
- Others
By Region
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- South East Asia (SEA)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
Key Market Players Profiled in the Report
- Fike Corporation
- Construction Specialties, Inc.Char-Broil LLC
- Halma plcBull Outdoor Products
- BS&B Safety Systems, L.L.C.FIRE MAGIC
- Continental Disc CorporationKitchenAid
- Atex Explosionsschutz GmbHModern Home Products
- REMBEKenmore (Transform SR Brands LLC)
- Stif
- CV Technology
- alle rechten voorbehouden aan Stuvex
- Euratex
- DonadonSDD Srl
- RSBP Ltd.
- 4B GROUP
- ZOOK Enterprises, LLC.
- CMC Technologies Pty Limited
- FDC Co., Ltd.
- POPDISC
- Camfil APC
- Flexospan Steel Buildings, Inc.
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