Flanges Market Demand to Cross US$6bn by 2025: Global Market Insights, Inc.
The flanges market share from the power generation segment is to exceed over USD 750 million in 2025 as flanges are known as integral parts of plumbing and engineering equipment. Some of the other major end-users of flanges are oil & gas, wastewater management and petrochemicals.
SELBYVILLE, Del., June 26, 2019 (Newswire.com) - The Flanges market is predicted to rise from USD 4.1 billion in 2018 to over USD 6 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Market share for flanges has been witnessing a significant growth rate accredited to rising awareness for wastewater management programs worldwide. International regulations and frameworks associated with wastewater treatment and sanitation such as Water Supply and Sanitation Collaborative Council (WSSCC), have laid emphasis on deployment of flanges in pipelines. Since these flanges can be easily assembled and disassembled, it helps in effortless cleaning & maintenance to ensure a constant flow of liquids and enables protection of marine environments. Stainless steel flanges are used in wastewater management plants due to their high corrosion resistant properties and a good service life.
Flanges are manufactured from a variety of raw materials including stainless steel, nickel alloy, carbon steel, alloy steel, etc. Stainless steel is the most preferred raw material with a share of approximately 45% of the total market share in 2025. Carbon steel has around 2.1% carbon content by weight, and flanges made of these materials found their applications in petrochemicals, power generation, offshore oil drilling operations, sea water equipment, gas processing systems, etc.
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Flanges are manufactured in different sizes as per the specifications in ANSI/ASME B16 standards. The standards mention the size and method for designating openings in reducing fittings, minimum material requirements, tolerances and dimensions, fastener and gasket dimensions, and all tests required in the process.
Flanges are classified on the basis of shape as into weld neck, slip on, lap joint, socket weld, blind flanges, etc. Weld neck flanges have been dominant in the shape segment and will account for a share of almost 60% in the total market share in 2025. Each class of flange has distinct properties and application areas. For instance, socket weld flanges are mainly utilized in small size and high-pressure applications such as in chemical processes, hydraulic and steam distribution lines.
Flanges are known as integral parts of several plumbing and engineering equipment. Henceforth, they serve a range of end-user industries. Some of the major end-users of flanges are oil & gas, power generation, wastewater management, petrochemicals, etc. Torque flanges are used mostly in power plants. The power generation segment will register a revenue of more than USD 750 million for the market in 2025.
Browse key industry insights spread across 378 pages with 895 market data tables & 23 figures & charts from the report, “Flanges Market Size By Material (Stainless Steel, Alloy Steel, Nickel Alloy, Carbon Steel), By Size (0.5 to 12 inches, 13 to 24 inches and 25 to 60 inches), By Shape (Weld Neck, Slip-on, Socket Weld, Lap Joint, Blind), By End Users [Oil & Gas (Upstream, Midstream, Downstream), Petrochemical, Power generation, Wastewater management, Chemical Industry] Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait) Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019-2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/flanges-market
Asia Pacific and Europe are the most significant regions for flanges market share, accounting for a share of around 50% and 20%, respectively. The reason behind Asia Pacific seeking a high growth rate for flanges is its established steel industry. Easy availability of raw materials and a large pipeline of networks to cater to the huge regional population will be key driving factors.
Owing to the presence of a large number of end-users, the market share for flanges is highly fragmented in nature. Some of the key industry players include Texas Flange, Pro-Flange Limited, Outokumpu, General Flange & Forge, Sandvik Materials Technology, etc.
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