[195+ Pages Report] According to a report published by Facts & Factors, the global rupture disc market was estimated at USD 590.78 Million in 2019 and is expected to hit USD 690.25 Million by the end of 2026, expanding at CAGR by 2.5% between 2020 and 2026.
Global Rupture Disc Market: Overview
A rupture disc is pressure and temperature-sensitive relief system that is engineered to rupture at a certain pressure and temperature. It is a method of ensuring the safety of staff and facilities. It is a failsafe device. In the processes where an instantaneous and complete opening of a pressure relief system is needed, rupture discs are used. Rupture disc can be installed alone or with other safety accessories. Once the disc is blown it cannot be refitted. Rupture discs are sometimes used in series (upstream) with a Relief valve to keep corrosive fluids away from the valve's metal sections. This combination is also a self-closing device.
Global Rupture Disc Market: Growth Factors
One of the important reasons for the increasing demand for rupture disc is due to high demand from chemical industries. Operating pressure and temperature in the chemical process industries depends on the market factors and many times these factors determine the production targets. High production target requires high operating pressure close to the set pressure of the operating vessel Rupture disc protects the vessel from over pressurization condition damaging vessel and human life. Another major reason for the demand for rupture discs is the increasing market for a lithium-ion battery. Lithium batteries and battery packs are in high demand. The use of rechargeable lithium batteries is increasing around the world, with applications in automotive, IT, aerospace, consumer electronics, and a variety of other industries. Lithium-ion battery has protective circuitry to operate, however, the last resort of the protection is the rupture disc intended to release the inside pressure of the cell
Global Rupture Disc Market: Segmentation
The global Rupture Disc Market is segregated based on the type as flat Type Rupture Disc, Positive Arch Rupture Disc, and Anti-arch Rupture Disc. By Material, the market is divided into Stainless Steel, Graphite, and Other. By End User, the market is bifurcated as Energy, Aerospace, Oil and Gas, Automotive and Transportation, Chemical, Pharmaceutical, and Others. Energy and Automotive will exercise the highest CAGR owing to high investment in electrical vehicles projects
Global Rupture Disc Market: Regional Analysis
Asia Pacific region is expected to be the major growing market globally owing to the high growth potential of the region and high investment potential in the manufacturing, chemical, and pharmaceutical industry. Similarly, high growth for the mining industry is likely to drive the market of the rupture disc. The oil and gas industry from the Middle East and mining from Africa has also created a good market for rupture disc in the region. The US and Europe market has increased the use of lithium-ion battery systems which has potentially increased the demand for rupture discs.
Global Rupture Disc Market: Competitive Players
Major players in the market are BS&B Safety Systems LLC, Continental Disc Corp., Emerson Electric Co., Fike Corp., Graco Inc., HalmaPlc, Mersen Group, Parker-Hannifin Corp., SGL Carbon SE, V-TEX Corp. are a few of the key vendors in the rupture disc market. BS&B safety system also introduced Saf-T- Change a rupture disc replacement system in order to reduce the downtime
Rupture Disc Market: Regional Segment Analysis
KEY REPORT POINTERS & HIGHLIGHTS:
Table of Content
Industry Major Market Players
Our Analysts and Consultants are working ceaselessly to congregate, identify, analyze, and portray the Actual Impacts of COVID-19 Global Pandemic in each of our published as well as ongoing research reports to Redefine and Revise Current and Future Market Trends, Growth Rates, And Market Size Projections across the Globe as well as in different Regions and individual Countries.
Still haven't found what you're looking for? Speak to our Custom Research TeamLearn More