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Flanges Market Expected to Reach $7.39 Billion by 2031—Allied Market Research

 
2022
Flanges Market

Report Code : A10713

quote Flanges are an integral part used in pipeline. It helps in firmly connecting the pipes. Flanges are important components where leakage can take place if the flanges are not connected in proper manner as well as after getting eroded. Therefore the material composition, size and design of the flanges needs to be accurate depending on their application. quote

Onkar Sumant - Manager
Construction and Manufacturing at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Flanges Market," The Flanges Market Size was valued at $4.50 billion in 2021, and is estimated to reach $7.39 billion by 2031, growing at a CAGR of 5% from 2022 to 2031.

In 2021, Asia-Pacific dominated the global flanges market, in terms of revenue, accounting for around 38% share of the global market. A flange is a medium for connecting pipes, valves, pumps and other equipment in order to form a piping system. In addition, it provides easy access for inspection, cleaning or modification. Flanges are usually welded or screwed. Flanged joints are made by bolting together two flanges with a gasket between them to provide a seal.

The implementation of control technologies has assisted in reducing the wastage of liquids passing through the pipes and valves that result in reduction of costs, which in turn drives the flanges market growth. In addition, the focus on increasing the production of oil & gas in North America has created a high demand for flanges in the region. The investments for extraction of oil & gas have propelled substantially, which has led to infrastructural development. This is expected to create massive demand for flanges, which in turn is expected to boost the growth of the market.

Asia-Pacific is the largest contributor in the global flanges market share during 2021. In North America, U.S. and Canada are the largest consumers of flanges within the region and have strong trade relations with manufacturing countries in the Europe and LAMEA. However, the market has lucrative growth opportunities in China and India, which are likely to exhibit significant growth during the forecast period. This is due to low material costs and extensive growth in industrial infrastructure during the past years.

The global flanges market segmented on the basis of type, material, industry verticals and region. On the basis of type, it is further classified into slip-on, socket weld, threaded and others. By material, it is divided into stainless steel, carbon steel, aluminum and others. Based on industry verticals, it is categorized into automotive, oil and gas, manufacturing, HVAC and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

The major players profiled in the global flanges market analysis include, AFG Holdings, Inc., Coastal Flange, Inc., Flanschenwerk Bebitz GmbH, General Flange & Forge LLC, Hitachi, Kerkau Manufacturing, Kohler Corporation, Mass Global Group, METALFAR Prodotti Industriali S.P.A., Outokumpu Armetal Stainless Pipe Co. Ltd (OASP), Pro-Flange, Qontrol Devices, Inc., Saini Flange (p) ltd., Sandvik AB, Simtech Process Systems, SSI Technologies, Inc. and Texas Flange. Major companies in the market have adopted product launch, partnership, business expansion, and acquisition as their key developmental strategies to offer better products and services to customers in the flanges industry. 

Key Findings Of The Study

  • The report provides an extensive analysis of the current and emerging global flanges market trends and dynamics.
  • Depending on type, the others segment was the largest revenue generator in 2021.
  • By material, the others segment generated the highest revenue in 2021.
  • Based on industry verticals, the oil & gas segment dominated the market in 2021.
  • Region wise, Asia-Pacific is anticipated to dominate the global fanges market throughout the study period.
  • The report provides an extensive analysis of the global flanges market outlook.
  • The global flanges market forecast analysis from 2022 to 2031 is included in the report.

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quote Flanges Market by Type (Slip-on, Socket Weld, Threaded, Others), by Material (Stainless Steel, Carbon Steel, Aluminum, Others), by Industry Verticals (Automotive, Oil and Gas, Manufacturing, HVAC, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

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