Market Overview:
The global process flares market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for energy across the globe and stringent environmental regulations pertaining to emissions from industrial processes. Based on type, elevated torch process flares are expected to account for a larger share of the global market during the forecast period. This can be attributed to their ability to handle high-volume gas flows with low emissions levels.
Product Definition:
The Process Flare is an important tool used in chemical engineering to improve the quality of a process stream. It is also used to remove impurities from the stream and to control the temperature of the process.
Elevated Torch:
Elevated torch is a device used to heat the gas/material at a high temperature which in turn increases the rate of reaction and also helps in increasing the output. It’s major application includes heating process flaring, steel production, rubber processing and plastic manufacturing industries. The global market for elevated torch is expected to witness significant growth over the forecast period owing to its ability to provide increased heat input with low carbon footprint as compared to other conventional heating methods.
Surface Torch:
A surface torch is a tool used to heat the metal parts of an automobile at a high temperature for removing paint. It works by heating the part with air or oxygen and then using a stream of nitrogen or argon gas to cool it down. The surface temperature of an object is determined by two factors, firstly, the heat source and secondly, its proximity to the heat source.
Application Insights:
The oil and gas application segment accounted for the largest revenue share in 2016. The process of gas-phase oxidation is used to enhance the production efficiency of various oil fields including deep sour, tight sands, shale plays and heavy crude deposits. Gas-phase oxidation technology injects oxygen into a reservoir rock at high pressure to dissolve organic material such as kerogen, which is then extracted by liquid hydrocarbons present in the reservoir rocks.
The chemical industry emerged as another significant segment with over 10% market share in 2016 owing to rising demand for chemicals such as polymers & resins from construction & automotive industries worldwide. Increasing use of plastics has led to an increase in manufacturing activities across economies globally which has further driven demand for process flaring solutions over recent years.
Regional Analysis:
North America was the leading region and accounted for over 35% of the global revenue in 2017. The growth is attributed to rising demand from various end-use industries, such as oil and gas, chemicals, electricity generation, etc. In North America process flares are used for heating oil prior to transfer into storage tanks as well as preheating air during natural gas processing plants.
The U.S., being a major consumer of petroleum products has huge requirements of process flare equipment that can handle high volumes with accuracy and efficiency; this factor is expected to drive the market in North America over the forecast period.
Asia Pacific emerged as one of the fastest growing regions on account of rapid industrialization along with increasing energy requirement in emerging economies including China.
Growth Factors:
- Increasing demand for energy: The global population is growing at a rapid pace and the demand for energy is increasing along with it. This is driving the need for more efficient and cleaner sources of energy, which is benefiting the Process Flares market.
- Rising awareness about environmental concerns: There has been a rising awareness about environmental concerns in recent years, especially among consumers and businesses alike. This has led to an increased focus on adopting cleaner and more sustainable technologies, which is benefiting the Process Flares market.
- Technological advancements: The Process Flares market has benefitted from continuous technological advancements over the years, resulting in better products that are more efficient and environmentally friendly. This trend is likely to continue in the future, propelling growth of this market further.
Scope Of The Report
Report Attributes
Report Details
Report Title
Process Flares Market Research Report
By Type
Elevated Torch, Surface Torch
By Application
Oil and Gas, Chemical industry, Electricity, Others
By Companies
Honeywell International, JOHN ZINK COMPANY, Fives, ZEECO, Sunpower Group, TORNADO Combustion Technologies, AEREON, Torch, Honeywell International
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
136
Number of Tables & Figures
96
Customization Available
Yes, the report can be customized as per your need.
Global Process Flares Market Report Segments:
The global Process Flares market is segmented on the basis of:
Types
Elevated Torch, Surface Torch
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil and Gas, Chemical industry, Electricity, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Honeywell International
- JOHN ZINK COMPANY
- Fives
- ZEECO
- Sunpower Group
- TORNADO Combustion Technologies
- AEREON
- Torch
- Honeywell International
Highlights of The Process Flares Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Elevated Torch
- Surface Torch
- By Application:
- Oil and Gas
- Chemical industry
- Electricity
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Process Flares Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Process Flares are a feature of the Windows operating system that allow you to temporarily suspend or stop certain processes. This can be useful if you need to free up resources so that other processes can run more smoothly.
Some of the major companies in the process flares market are Honeywell International, JOHN ZINK COMPANY, Fives, ZEECO, Sunpower Group, TORNADO Combustion Technologies, AEREON, Torch, Honeywell International.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Process Flares Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Process Flares Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Process Flares Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Process Flares Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Process Flares Market Size & Forecast, 2020-2028
4.5.1 Process Flares Market Size and Y-o-Y Growth
4.5.2 Process Flares Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Elevated Torch
5.2.2 Surface Torch
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Oil and Gas
6.2.2 Chemical industry
6.2.3 Electricity
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Process Flares Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Process Flares Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Elevated Torch
9.6.2 Surface Torch
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Oil and Gas
9.10.2 Chemical industry
9.10.3 Electricity
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Elevated Torch
10.6.2 Surface Torch
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Oil and Gas
10.10.2 Chemical industry
10.10.3 Electricity
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Elevated Torch
11.6.2 Surface Torch
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Oil and Gas
11.10.2 Chemical industry
11.10.3 Electricity
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Elevated Torch
12.6.2 Surface Torch
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Oil and Gas
12.10.2 Chemical industry
12.10.3 Electricity
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Elevated Torch
13.6.2 Surface Torch
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Oil and Gas
13.10.2 Chemical industry
13.10.3 Electricity
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Process Flares Market: Competitive Dashboard
14.2 Global Process Flares Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Honeywell International
14.3.2 JOHN ZINK COMPANY
14.3.3 Fives
14.3.4 ZEECO
14.3.5 Sunpower Group
14.3.6 TORNADO Combustion Technologies
14.3.7 AEREON
14.3.8 Torch
14.3.9 Honeywell International
