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As Manufacturing PMI Dips, it Takes Down All Hopes for Normalcy in the Pressure Relief Valves Market. On the Cards is a $657.5 Million Erosion in Revenues
The global market for Pressure Relief Valves is expected to decline by -15.3% in the year 2020 and thereafter recover and grow to reach US$4.6 billion by the year 2027, trailing a post COVID-19 CAGR of 3.4% over the analysis period 2020 through 2027.
Manufacturing industries ranging from oil & gas, processing to paper & pulp, capital goods industry has been massively impacted by economic disruptions of COVID-19. Global economic activity is slumping with GDP growth forecast to dip as low as -4.9% in the year 2020. The manufacturing industry, which is the largest end-user of pressure sensitive valves, is the worst affected given its complex supply chains, labor intensive processes, and inter-dependencies. Division of labor, modular manufacturing strategie
certain point, it exceeds the pressure of that valve, that involve releases, and it makes a popping sound, our understanding is that that is the sounds that we have heard, certainly these things can burn very quickly and very violently, and it would not be unusual for them to explode, but what we believe we have heard, understand, we are a mile and a half away from the facility, so we don t have anybody on-site who is watching this happening, we believe that there just hasn t been a massive explosion and the vapor relief valves, that it could pop. is there a potential for something more? we certainly anticipate that it is hard to predict, certainly, when these things burn, they degrade, there is a possibility that an explosion could happen. why did you rely on cooling as your way to medicaid s this
quickly and violently and it would not be unusual for them to explode. what we believe we ve heard understand, we re a mile and a half away from the facility. we re not we don t have anybody on site that s watching what s happening. we believe that it just hasn t been a massive explosion, it s just been a vapor relief valves that popped. are you saying there s potential for something more than just popping and fire? we certainly anticipate it s hard to predict if there will be an explosion but certainly these things burn when they degrade and there is a possibility that an explosion could happen. why did arkema not flush the chemicals? why did you rely on cooling to mitigate this potential problem? the materials are required to be kept cold. i don t know that there s any chemical way of keeping that from happening. i talked to two experts yesterday at texas a & m and somebody at uh who said it s
family is in one piece? pretty lucky. reporter: more than 10 million homes have boilers and 110 million have hot water heaters. that can also explode if the pressure builds too high. relief valves need to be checked annually. this is our pressure relief valve on this boiler. to test it you flip this lever and you can hear some water discharge you know it is working. if it is rusted shut you have a bomb. reporter: remarkably in this case, no one was hurt, but just barely. neal karlinsky, abc news, bellingham, washington. scary stuff. the video is incredible. really incredible. isn t it, yeah. there are warning signs, leaks, cracks, clunking, noises, like black sooty marks. yeah. look at that video. incredible. it preys on your fears. i worry sometimes this could happen. never think about it but there s the evidence, it happens. when we come back, julie andrews and christopher plummer
the leak and that s where they will move to these other alternatives like the valve and the relief valves. do you have a better sense of how many gallons a day are being spilled out there? the estimates are still the same. the numbers being used is about 5,000 barrels a day. 5,000 barrels a day. and that s still your best guess? that s the number that has been used. there are efforts under way to try to quantify the amount that has leaked from the beginning now, that this incident is in day 21 and there may be better numbers coming out. if this goes on for several more weeks, would this be the worst environmental disaster ever? well, i think there was huge environmental disasters. obviously exxon valdez, chernobyl and other things. it s very bad as it is today. our charge is to do everything that we can to protect the