Flanges Market Size - By Material (Stainless steel, Alloy steel, Nickel alloy, Carbon steel), By Shape (Weld Neck, Slip-on, Socket weld, Lap joint, Blind), By Size (0.5 to 12 inches, 13 to 24 inches, 25 to 60 inches) By End User, By Pressure & Forecast, 2024 – 2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationFlanges Market Size - By Material (Stainless steel, Alloy steel, Nickel alloy, Carbon steel), By Shape (Weld Neck, Slip-on, Socket weld, Lap joint, Blind), By Size (0.5 to 12 inches, 13 to 24 inches, 25 to 60 inches) By End User, By Pressure & Forecast, 2024 – 2032
Flanges Market Size
Flanges Market was valued at around USD 5.4 billion in 2023 and is anticipated to register a CAGR of 5.8% between 2024 to 2032. Flanges play a critical role in these networks, ensuring secure connections at pipe junctions and with equipment. This translates to a diverse market for flange manufacturers, as different power generation technologies require specific flange types like weld neck for high-pressure areas. Ultimately, the growing power sector with its focus on safety and efficiency creates a strong demand for the flanges.
To get key market trends
Furthermore, the oil and gas sectors are a major driver, with substantial investments in pipeline construction and refinery operations. According to the International Energy Agency, global upstream oil and gas investments are expected to grow by 7% in 2024, reaching approximately USD 570 billion, led by substantial contributions from companies in the Middle East and Asia. These investments not only highlight the sector's commitment to maintaining and enhancing infrastructure but also to transitioning towards more sustainable energy solutions, further boosting the demand for high-quality flanges essential for these projects.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Flanges Market Size in 2023 | USD 5.4 Billion |
| Forecast Period | 2024-2032 |
| Forecast Period 2024-2032 CAGR | 5.8 % |
| 2032 Value Projection | USD 9.3 Billion |
| Historical Data for | 2021-2023 |
| No. of Pages | 340 |
| Tables, Charts & Figures | 531 |
| Segments covered | Material, Pressure, Shape, Size, End User, Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
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What are the growth opportunities in this market?
There are stringent regulatory requirements and standards that flange manufacturers must follow, particularly in industries such as oil and gas, nuclear power, and pharmaceuticals. These industries demand high precision and quality to ensure safety and reliability, necessitating rigorous testing and certification processes.
Flanges Market Trends
The flanges industry is undergoing a significant shift towards lightweight and corrosion-resistant composite materials like fiber-reinforced polymers (FRPs). FRPs offer substantial weight reduction compared to traditional steel flanges. According to a study by the American Composites Manufacturers Association (ACMA), FRP flanges can be up to 60% lighter than their steel counterparts. This translates to significant cost savings in transportation and installation, especially for large-scale projects. Additionally, advancements in manufacturing processes like filament winding and resin transfer molding are enabling the production of high-strength and cost-effective FRP flanges, thereby propelling the market growth.
"Hey, check this outthe way we make flanges is getting a serious upgrade. We're using robots and fancy automated lines to create composite flanges like a boss. This means we can churn out more high-quality flanges faster and cheaper. Plus, we're getting more creative with our materials and designs. It's like giving flanges superpowers! The guys over at the American Welding Society say robotic welding is taking off in the flange industry like a rocket. These robots can lay down perfect welds every time, even on the trickiest shapes we make in composite flanges."
Flanges Market Analysis
Learn more about the key segments shaping this market
Based on material, the flanges made from stainless steel segment accounted for revenue of around USD 580.9 million in 2023 and is growing at a rate CAGR of over 4.5% from 2024 to 2032. As stainless steel provides excellent resistance to corrosion, particularly in harsh environments, it is ideal for various applications. The American Society of Testing and Materials (ASTM) International has established various grades of stainless steel with specific corrosion resistance properties, allowing engineers to select the most suitable flange material for each project.
Learn more about the key segments shaping this market
In 2023, weld neck shaped flanges brought in a hefty $852.3 million in revenue, and experts predict a steady growth of 4% each year from 2024 to 2032. These flanges have a special shape that spreads out stress evenly, which is a big deal because it keeps the welded joint from breaking. They're also incredibly strong, making them perfect for oil and gas industries where there's a lot of pressure and heat. Plus, the long neck means they can handle pipes with different thicknesses, so they're super versatile. Weld neck shaped flanges are also reliable, won't leak, and are easy to maintain. That's why they're so popular in important places like water treatment plants and nuclear power facilities. They help keep these places safe and running smoothly, which is why more and more people are using them.
Looking for region specific data?
Hey there! Check this outThe flange market in Asia Pacific is booming! It was worth over $2.5 billion in 2023, and it's expected to hit $4.4 billion by 2032. Crazy, right? Why is it taking off like a rocket? Well, it's all thanks to the growth of countries like China, India, and Southeast Asia. They're seeing a surge in industries like construction, power, and oil and gas, and that means they need a lot of flanges. To add fuel to the fire, East Asia and the Pacific are seeing some of the fastest urbanization rates in the world. That means cities are growing, and they need new buildings, roads, and power plants. And guess what? All of those things require flanges! Plus, China is the king of steel production. It makes a lot of steel, and that means it's easy and cheap for companies in the region to make flanges. So, they can make them for a good price and meet the growing demand.
Country level analysis
North America In terms of country, the U.S. is dominating with an overall market share of around 72% in North America in 2023. One of the most significant drivers of the U.S. flanges market growth is a robust domestic ecosystem. The American Iron and Steel Institute signifies a well-established steel industry, providing the critical raw material for flange production. This translates to a thriving domestic flange manufacturing sector that caters to mature U.S. industries. From oil and gas giants like ExxonMobil to chemical companies like Dow Chemical, these industries rely heavily on flanges for their extensive piping systems.
On the other hand, the Canada flanges market has been expected to grow at a rate of around 5.4% CAGR in during the forecast period. Canada, a major player in North America's industrial landscape, boasts a well-established steel industry with its annual sales exceeding USD 11 billion. The country is home to industrial companies such as SNC-Lavalin, which are involved in infrastructure and oil & gas projects that utilize standardized flanges thereby further propelling the market.
Europe In terms of country, Germany is dominating the European market with revenue of USD 252.6 million in 2023. German giants like Siemens and ThyssenKrupp utilize high-quality flanges that meet stringent standards, sourced from established German or European manufacturers. Their focus on quality, ensured by organizations like TÜV, attracts customers who prioritize dependable flange performance.
On the other hand, the UK is experiencing notable market growth and is expected to grow at 5.4% CAGR during the forecast period. The British Steel association highlights the UK's steel production capabilities, a crucial factor for domestic flange manufacturing. This translates to a presence in catering to the UK's mature industrial sectors like oil & gas and shipbuilding. For instance, BP, a major UK-based oil and gas company, utilizes flanges that meet relevant standards and source them from domestic manufacturers, thereby propelling the domestic market.
Asia Pacific In terms of country, the Chinese flanges market was valued at around USD 686 million in 2023 and is anticipated to register a CAGR of 6.9% between 2024 and 2032. China's booming economy translates to a surge in demand for flanges across various industries like construction, power generation, and oil & gas. This domestic demand creates a significant market for Chinese flange manufacturers.
India is emerging as the fastest growing country for the flanges market with a projected CAGR of 7.4% between 2024 to 2032. India boasts a well-established steel industry with a growing production capacity. This translates to a domestic flange manufacturing sector catering to the country's developing infrastructure and industrial needs. Government initiatives like "Sagarmala" focus on port development, which heavily relies on flanges. Also, prominent engineering and construction companies such as Larsen & Toubro (L&T), utilize flanges sourced from domestic manufacturers for their infrastructure projects to benefit from reduced logistics costs.
Flanges Market Share
Key players involved in the flanges industry are AFG Holdings, Inc., Coastal Flange, Inc., Texas Flange, Simtech Process Systems, Outokumpu Armetal Stainless Pipe Co. Ltd, which accounted for 15-20% market share in 2023. Manufacturers are continually investing in R&D to build quality products to increase operational efficiency and thus profitability. Manufacturers are incorporating materials such as corrosion resistant flanges to enhance longevity, thus decreasing manufacturing costs.
Flanges Market Companies
Major companies operating in the flanges industry include
- AFG Holdings, Inc.
- Flanschenwerk Bebitz GmbH
- Hitachi
- Kerkau Manufacturing
- Kohler Corporation
- Maass Global Group
- Metalfar S.p.A.
- OCoastal Flange Inc
- Piping Technology & Products, Inc.
- Pro-Flange
- Simtech Process Systems
- SSI Technologies, Inc.
- Star Pipe Products, Ltd.
- Texas Flange
- utokumpu Armetal Stainless Pipe Co Ltd.
Flanges Industry News
- In January 2024, SSI Technologies, Inc. unveiled a new smart flange monitoring system, integrating IoT sensors into industrial flanges for real-time monitoring of pressure, temperature, and leak detection.
- In September 2023, Hitachi announced the release of their new HP-X series of high-pressure flanges in September 2023, designed for extreme operating conditions in the oil and gas industry.
- In June 2023, Maass Global Group announced a significant expansion of its flange production capacity at its European facilities, investing in new automated manufacturing lines to meet growing demand in the renewable energy sector.
- In March 2022, Texas Flange and Coastal Flange Inc. announced their merger to form Gulf Coast Flange Solutions, aiming to expand their market presence along the Gulf Coast region.
This flanges market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Million) and volume (Kilo Tons) from 2021 to 2032, for the following segments
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Market, By Material
- Stainless steel
- Alloy steel
- Nickel alloy
- Carbon steel
- Others
Market, By Pressure
- 75lb
- 150lb
- 300lb
- 400lb
- 600lb
- 900lb
- 1500lb
- 2500lb
Market, By Shape
- Weld Neck
- Slip-on
- Socket weld
- Lap joint
- Blind
- Others
Market, By Size
- 0.5 to 12 inches
- 13 to 24 inches
- 25 to 60 inches
Market, By End User
- Oil & Gas
- Petrochemical
- Power Generation
- Wastewater Management
- Chemical Industry
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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