LONDON--(BUSINESS WIRE)--The new rupture disc market research from Technavio indicates Neutral growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the Demand for Fast-acting Relief Devices,” says a senior analyst for the Industrials industry at Technavio.
There is an increase in the demand for relief devices that are fast-acting. Some process systems require relief devices to act instantly when the system pressure increases. The reaction of time of rupture discs is much faster than pressure relief valves. Therefore, industries prefer the use of rupture discs in heat exchangers overpressure relief valves. Pressure relief valves do not respond quickly when subjected to excessive pressure from gas or vapor media or when liquid flashing occurs. Thus, the ability to burst quickly makes rupture discs the preferred choice among many industries.
As the markets recover Technavio expects the rupture disc market size to grow by USD 44.86 million during the period 2020-2024.
Rupture Disc Market Segment Highlights for 2020
- The rupture disc market is expected to post a year-over-year growth rate of -0.18%.
- Metallic rupture discs are used to protect vessels, piping, and other pressure-containing components from excessive pressure and/or vacuum.
- This type of rupture disk typically contains an angular seat design. Therefore, the ability to withstand high operating pressure of up to 95% makes metallic rupture discs the preferred choice in many industries.
- Moreover, metallic rupture discs can be used as standalone pressure relief devices or combined with relief valves. Standalone metallic rupture discs have a higher demand than metallic rupture discs in combination with relief valves.
- Market growth in this segment will be faster than the growth of the market in the graphite rupture disc segment.
Regional Analysis
- 52% of the growth will originate from the APAC region.
- The rising volume of automobile production and an increasing number of power plants will significantly influence rupture disc market growth in this region.
- China and Japan are the key markets for rupture discs in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Notes:
- The rupture disc market size is expected to accelerate at a CAGR of almost 2% during the forecast period.
- The rupture disc market is segmented by Product (Metallic rupture disc and Graphite rupture disc), Application (Standalone rupture disc and Rupture disc in combination with relief valves), Geographic (APAC, Europe, North America, MEA, and South America), and End-user (energy, processing industries, transportation, and others).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including BS&B Safety Systems LLC, Continental Disc Corp., Emerson Electric Co., Fike Corp., Graco Inc., Halma Plc, Mersen Group, Parker-Hannifin Corp., SGL Carbon SE, and V-TEX Corp.
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