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Flanges Market

Flanges Market

Flanges Market By Type (Welding Neck, Long Welding Neck, Slip-On, Socket Weld, Lap Joint), By Material (Carbon Steel, Stainless Steel, Aluminum, Polymer), By End Use Industry, By Region - Global Mraket Forecast 2020-2027

Flanges Market
FACT4472MR
  • Mar-2022
  • List of Tables : 146
  • List of Figures : 109
  • 170 Pages
  • Industrial Goods

Demand for Flanges to Double as Petrochemical Industry Gathers Momentum

The global flanges market is estimated to grow at a modest CAGR of over 5.5% during the forecast period (2019-2027) and reach a valuation of over US$ 7 Bn. The demand for flanges is expected to gain traction in the near future and is estimated to generate massive revenue sales over the forecast period.

In addition, the growth of the automotive industry is expected to generate robust demand for automotive flanges over the forecast period, primarily due to the rising production of new passenger cars.

Key manufacturers are implementing new manufacturing techniques and using novel materials to manufacture lightweight flanges in the quest to decrease the overall vehicle mass. One of the other main utilizers of refinery and pipeline flanges is the petrochemical industry. Increasing oil consumption in both Asian and North American countries is an important contributor to the growth of the flanges market.

The petrochemical industry will account for a significant share of more than 35% by mid-term forecast in the production of flanges as attachment components in pipes, valves, and pumps.

The petrochemical sector is expected to grow at a rapid pace as the use of flanges in this sector can offer various benefits to valve metering devices and also to separate segments of piping.

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Wastewater Management Snowballing Demand for Stainless Steel Flanges

The flanges industry has seen a substantial rate of growth accredited to the proliferation of wastewater management systems around the world.

The stainless steel segment within the flanges market acquired a share of over 40% till 2018, due to its ability to provide high corrosion resistance and ease of manufacturing.

Flanges market share industry impact analysis

Global wastewater treatment and sanitation laws and mechanisms, such as the Water Supply and Sanitation Collaborative Council (WSSCC), have emphasized the use of flanges in pipelines.

As these flanges can be quickly accumulated and undone, it helps to ensure continuous fluid flow and protect the marine environment in effortless cleaning & maintenance. Due to its elevated corrosion resistant properties and good service life, stainless steel flanges are used in wastewater management plants.

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 APAC to Capture 1/3rd Market Share, as Automotive Industry Gathers Momentum

Driven by the region's numerous developing countries, Asia Pacific has emerged as the largest flanges market in 2018 with over 1/3rd market share. The automotive industry in APAC faces fierce competition from regional counterparts and is embracing diversification.

With an increase in the production of automotive vehicles in the APAC region, particularly in China, India & ASEAN countries, the demand for automotive flanges is likely to increase substantially in the above-mentioned countries. In addition, joint efforts from APAC countries is anticipated to boost the flanges market in order to expand the total sales of the passenger vehicles.

Flanges market share analysis

Manufacturers to Target Design Efficiency and After Sales Support

The global flanges market is moderately fragmented with the presence of several small and large-scale firms. The market is characterized by intense competition between the participants within the international and regional industry fronts. Industry players are focusing primarily on efficiently designed flanges for several industries.

Top tier participants are also providing efficient after sales customer support services to consumers. Key players such as General Flange & Forge LLC, Outokumpu Armetal Stainless Pipe Co Ltd and Pro-Flange Limited have acquired top shares in the global flanges market.

Other competitors are focusing on the production of client specific flanges for various vertical industries. Moreover, emerging competitors in the market are concentrated primarily in Asian countries followed by North America.

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Global Flanges Market: In-Depth Assessment on Key Segments

The global flanges market is segmented on the basis of type, material, end use industry and region.

  • By Type :

    • Welding Neck
    • Long Welding Neck
    • Slip-On
    • Socket Weld
    • Lap Joint
    • Others (Threaded, Blind)
  • By Material :

    • Carbon Steel
    • Stainless Steel
    • Aluminum
    • Polymer
    • Others (Cast Iron, Bronze)
  • By End Use Industry :

    • Aviation and Aerospace
    • Petrochemical
    • Architectural Decoration
    • Food & Beverages Processing
    • Construction
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

Note:- This taxonomy is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.

- FAQs -

The global flanges market is estimated to grow at a modest CAGR of over 5.5% during the forecast period (2019-2027) and reach a valuation of over US$ 7 Bn.
The petrochemical industry will account for a significant share of more than 35% by mid-term forecast in the production of flanges as attachment components in pipes, valves, and pumps.

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