PUBLISHER: Allied Market Research | PRODUCT CODE: 1139998
PUBLISHER: Allied Market Research | PRODUCT CODE: 1139998
The global flanges market was valued at $4,501.5 million in 2021, and is projected to reach $7,393.4 million by 2031, registering a CAGR of 5.0% from 2022 to 2031. The flanges are the protruding rim or ridge that are used for increasing strength or the spread of the load. There are various types of flanges such as blind flanges, lapped flanges, slip on flanges, socket welded flanges, threaded flanges, and weld neck flanges.
Development in control technologies have contributed significantly in boosting the growth of the flanges market during the recent years. The flanges allow monitoring of the fluid level, which is advantageous in hazardous and remote environments of oil & gas industries, chemical industries, and power plants. In addition, the increased investments in the oil & gas storage as well as refining infrastructure, mainly in the North America drives the requirement for flanges. North American countries, such as the U.S. and Canada, are major importers of flanges from Asian and European nations.
Thus, the development of oil & gas industry in North America drives the flanges market growth globally. Moreover, the demand for flanges has significantly increased from the food & beverage industry mainly from the developing nations in Asia-Pacific and Latin America. With surge in agriculture and rise in demand for processed food, the food & beverage processing industry has shown high growth in countries such as India, Brazil, and others. This, in turn, has created a high demand for flanges; thereby, driving the growth of the flanges industry.
However, the saturation in industrial growth in major developed countries such as Germany, the U.S., the UK, and others is likely to affect the growth in trend for flanges significantly. The demand for new flanges is extremely slow paced in the previously mentioned countries mainly due to the developed industrial infrastructure. This is likely to restrain the growth of flanges market. In addition, the trade tensions between the U.S. and China have led to newly imposed tariffs on various metals including stainless steel, aluminum, and others, which are mainly used for the manufacturing of flanges. This in turn results in surged production costs and a disruption in supply chain of global flanges industry, which is likely to restrain the market growth of flanges globally
On the contrary, the technological advancements in industrial valves such as implementation of automation and control technologies are likely to create lucrative growth opportunities for the global flanges market.
The flanges market is 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. By industry vertical, it is categorized into automotive, oil & gas, manufacturing, HVAC, and others. Region wise, the flanges market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players profiled in the global Flanges market 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.
Key Benefits For Stakeholders
Key Market Segments
By Type
By Material
By Industry Verticals
By Region