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The global flame arrestors market is expected to grow at a CAGR of 5.31%, from 2018 to 2023, to reach a market size of USD 924.7 million by 2023. The shale gas and tight oil boom in North America and China are expected to drive the market for flame arrestors. Stringent safety norms and regulations in the industries also provide opportunities for the growth of the flame arrestors market.

The global flame arrestors market is expected to grow at a CAGR of 5.31%, from 2018 to 2023, to reach a market size of USD 924.7 million by 2023. The shale gas and tight oil boom in North America and China are expected to drive the market for flame arrestors. Stringent safety norms and regulations in the industries also provide opportunities for the growth of the flame arrestors market.

According to a new market research report "Flame Arrestors Market by Type (In-Line and End-of-Line), Application (Storage Tank, Pipeline, Incinerator, Ventilation System), End-user (Oil & Gas, Chemical, Pharmaceutical, Waste-to-Energy Plant), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global market is expected to grow from an estimated USD 713.8 million in 2018 and is projected to reach USD 924.7 million by 2023, at a CAGR of 5.31% during the forecast period. The market is set to grow because of the stringent safety norms and regulations in industries, such as the US Coast Guard Regulations and EU's TRCI (Tank Farm Guidelines for Chemical Industries) which have mandated the installation of flame arrestors for storage of combustible materials.