A flange is a connector used to join pipes, valves, pumps, and other equipment in a piping system. Flanges aid in easy, cleaning, modification or inspection of a piping system, owing to increased accessibility that it provides. This easy accessibility reduces overall maintenance cost and downtime or maintenance time of industrial processes. Flanges may be screwed or welded with a gasket usually placed between two flanges that form a joint. The purpose of gasket is to provide better sealing. Different materials such as stainless steel, carbon steel, cast iron, aluminium, brass, bronze, and plastic may be used to manufacture flanges. However, most widely used material for flanges is forged carbon steel.

­Market scope and structure analysis:

COVID-19 scenario analysis:

• COVID-19 pandemic has shut-down production of various products in the global flanges industry, mainly owing to prolonged lockdown in major global countries. This has hampered growth of the global flanges market significantly from past few months, as is likely to continue during 2020.
• COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout the year.
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints, and Impact Analysis

Flanges are commonly used in the global automotive, oil & gas, construction, irrigation, water supply, energy & power, manufacturing & instrumentation, petrochemical, and food & beverages industries to name a few. Growth of the global automotive and oil & gas industries are some of the major factors behind growth of the global flanges industry. Growth of global industrialization, increase in construction activities, airline, and tourism and transportation industries are also important factors that drive the global oil & gas industry. Flanges are used in manufacturing and engineering industries as well for applications that require high corrosion resistance, high heat, and temperature tolerance among other desirable properties. Flanges are also used in HVAC systems and residential & commercial plumbing applications as well. However, leakages due to gasket fail is a problematic issue that is considered a restraining factor for growth of the flanges market. Leakages may occur if the load on gasket falls below its minimum seal pressure. Moreover, owing to nature of its application and flanges are generally required to be leak tight as it may hamper important manufacturing or production processes such as when used in boiler systems or in fuel supply systems. On the other hand, growth of the automotive industry due to factors of rise in population and disposable income around the world is expected to provide opportunities for growth of the global flanges market.

The global flanges market trends are as follows:

Growth in global automotive industry help the market grow

The global automotive industry is expected to grow worldwide due to the rising disposable income levels of the average global consumer. Personal vehicles sales are on the rise due to the growing inclination of the middle class to buy automobiles for the increased comfort, privacy and time saving benefits. The rising number of nuclear families and dual earning families is an important reason behind this phenomenon. Flanges are commonly used in automobiles in various applications. Flanges are used in various pipe, valve, pump and other assemblies. Flanges of different dimensions, material and type are used in different applications in the automotive industry. Many specific applications also demand specially designed or tailor-made flanges for specific tolerances. Hence, the global flanges market is expected to grow in tandem with the global auto sector.

Growth of global oil & gas industry

Growth in population, urbanization, and disposable income of people around the world is expected to increase demand for oil & gas. Growth in number of automobile sales around the world, increase in airline traffic, growth in industrialization, and rise in construction activities around the world are expected to drive the demand for petroleum products. More and more people are buying personal vehicles due to increase in disposable income levels worldwide. Moreover, number of nuclear families and dual earning families is an important reason behind this phenomenon. An average consumer is increasingly using airlines to travel both internationally and domestically for better comfort and time saving. Growth of new industries and expansion of production facilities around the globe is expected to keep the oil & gas demand high. In addition, rise in amount of construction activities around the world is also expected to help the global oil & gas industry grow as the construction sector is a major end user of oil & gas. Hence, with the increase in demand for oil & gas around the world, the global flanges market is also expected to grow.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global flanges industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global flanges market share.
• The current market is quantitatively analyzed from 2019 to 2027 to highlight the global flanges market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global flanges market analysis based on competitive intensity and how the competition will take shape in coming years.