NEW YORK, May 6, 2024 /PRNewswire/ -- The global rupture disc market size is estimated to grow by USD 88.91 million from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 2.97% during the forecast period.

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Region Outlook

1. APAC
2. North America
3. Europe
4. South America
5. Middle East & Africa

1. APAC - During the forecast period, APAC is expected to contribute significantly to the global market growth, with an estimated 47% share. Analysts from Technavio have detailed the regional trends and drivers influencing the market. APAC is projected to experience the fastest growth, driven by increased automobile production and the establishment of more power plants.

• This material is crucial in the automotive sector, particularly for manufacturing NGVs, due to its lightweight nature, strong strength-to-weight ratio, and resistance to corrosion. The escalating production of NGVs in APAC will drive demand for this material.
• In 2018, APAC accounted for over 71% of global NGV production, with leading manufacturing countries including China, India, South Korea, Japan, and Thailand. Consequently, the utilization of this material in NGV manufacturing is notably high in these nations.

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Segmentation Overview

1. Application 
   • 1.1 Standalone rupture disc
   • 1.2 Rupture disc in combination with relief valves
2. Product 
   • 2.1 Metallic rupture disc
   • 2.2 Graphite rupture disc
3. End-user 
   • 3.1 Energy
   • 3.2 Processing industries
   • 3.3 Transportation
   • 3.4 Others
4. Geography 
   • 4.1 APAC
   • 4.2 Europe
   • 4.3 North America
   • 4.4 South America
   • 4.5 Middle East and Africa

1.1 Standalone rupture disc: During the projected period, the standalone rupture disc market is expected to witness significant growth. These discs are cost-effective compared to pressure relief valves, albeit they can rupture more rapidly. This characteristic fuels the segment's expansion. In 2017, the segment was valued at USD 331.95 million and maintained growth until 2021.

• Standalone rupture discs can be installed in series or parallel with relief valves, offering added protection. Their use alongside relief valves prevents corrosive and viscous materials from directly contacting the valves, ensuring operational integrity. The rising demand for pressure relief valves stems from the necessity for leak-tight seals in pressurized systems, driving market growth.

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Research Analysis

The Rupture Disc Market encompasses the production and distribution of essential safety components used in industrial applications. These components, which include rupture discs, pressure relief valves, and fast-acting relaxation devices, play a crucial role in upholding industrial safety regulations in various sectors, such as chemical plants.

Rupture discs, available in types like graphite, metallic, anti-arch, and standalone, are designed to withstand extreme temperatures, corrosion, and high viscous fluids. They are integral to maintaining leak-tightness in systems that handle gas, vapor, or liquid flashing. Malfunctioning of heat exchangers or other equipment can lead to increased system pressure, necessitating the use of rupture discs to prevent potential hazards during upstream production.

Market Overview

The Rupture Disc Market encompasses a wide range of pressure safety valves designed to protect industrial processes from overpressure conditions. These discs, which come in various materials such as metal, rubber, and ceramic, function by breaking or rupturing when a predetermined pressure threshold is reached. This mechanism prevents further damage to equipment and potential hazards to personnel.

The market for rupture discs is driven by the need for process safety in industries like oil and gas, chemicals, pharmaceuticals, and power generation. Key players in this market focus on innovation, reliability, and cost-effectiveness to cater to the evolving demands of their customers. The market is expected to grow significantly due to increasing industrialization, stringent safety regulations, and the rising trend towards automation and remote monitoring in industrial processes.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio