US & Canada, Jan. 09, 2025 (GLOBE NEWSWIRE) — According to a new comprehensive report from The Insight Partners, “the global Flanges Market Size and Forecast (2021 – 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Weld Neck, Slip-On, Socket Weld, Lap Joint, Blind, and Others), Material (Stainless Steel, Carbon Steel, Alloy Steel, and Others), Industry (Oil & Gas, Chemical & Petrochemical, Power Generation, Manufacturing, Water Management, Food & Beverages, Others), and Geography”.
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Flanges Market research includes key company profiles like are AFG Holdings, Inc.; Armetal Stainless Pipe; Coastal Flange, Inc.; Flanschenwerk Bebitz GmbH; General Flange and Forge LLC; Mass Global Group; METALFAR Prodotti Industrial SpA; Proflange; Sandvik AB; and Texas Flange.
Flange manufacturers worldwide are engaged in investing in research and development to enhance the performance and durability of flanges. Innovations in flange materials such as carbon steel, stainless steel, and alloy steel have resulted in improving their resistance to corrosion, temperature, and pressure. These advances ensure the longevity and reliability of the flanges under challenging operating conditions. In addition, the increase in efforts to reduce energy consumption and reduce environmental impact is fueling the demand for flanges with high energy efficiency. Flanges designed with optimized sealing features have the potential to reduce leakage, resulting in significant energy savings.
The report carries out an in-depth analysis of market trends, key players, and future opportunities. Based on type, the flanges market is segmented into weld neck, slip-on, socket weld, lap joint, blind, and others. A flange is an external or internal rim joint at the end of a pipe. It is used in various industries. The oil & gas industry is a major end-use industry for flanges.
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Market Overview and Growth Trajectory:
Flanges Market Growth: The Flanges market was valued at US$ 7,460.20 million in 2023 and it is anticipated to register a CAGR of 4.5% during the forecast period. There is an increase in the development of new oil and gas rigs and the discovery of new offshore oil field areas across the world. Moreover, investments in oil and gas pipeline infrastructure development and refurbishment or reconstruction of existing oil and gas rigs have increased. For instance, in October 2022, the Italian government announced plans to increase its gas production from the current production capacity. This plan also includes the building and construction of new offshore gas rigs across the country. In May 2023, the Chinese government announced that it had completed the building and construction of a new 12,000-ton offshore drilling rig. In addition, in 2022, National Grid Gas Plc (UK) announced the acquisition of new land and rights required for the development and operation of a new 9 km gas pipeline between Wormington and Honeybourne. A new 2 km section of gas pipeline network in Churchover is anticipated to facilitate pressure uprating of the already existing gas pipeline between Felindre and Cilfrew and Three Cocks. Therefore, the rising investment in the development of oil and gas pipeline infrastructure worldwide is driving the demand for flanges in this pipeline network expansion.
Based on type, the flanges market is segmented into weld neck, slip-on, socket weld, lap joint, blind, and others. A flange is an external or internal rim joint at the end of a pipe. It is used in various industries. The oil & gas industry is a major end-use industry for flanges. Weld neck flanges are commonly used to connect valves to piping systems, enabling easier maintenance and removal of pipe fittings. These products are used in industries such as food & beverages, oil & gas, and chemical & petrochemical, where pipes are used to transport liquids. China, India, Italy, and Germany are among the leading suppliers of flanges. Several key players in the flanges market are adopting strategies to expand their business across the globe. For instance, in June 2021, AFG Holdings Corporation’s subsidiary producer, Ameriforge, acquired Maass Flange Corporation to expand its business in the US. With this acquisition, Maass Flange Corporation expanded its business in the US, Canada, and Mexico, and it became part of Ameriforge. Maass Flange Corporation is a domestic manufacturer of nickel alloy and stainless-steel flanges in North America.
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According to the Food and Drink European Commission Organization Report in 2022, the EU’s food and drink industry generated revenue of ~US$ 1.2 trillion and added ~US$ 250.74 billion to the EU’s economy. The food & beverages sector is one of the largest manufacturing industries in Europe. Around 60.0% of the EU’s food and drinks are exported to the international market. At the same time, the EU countries are the largest exporters of food & beverages, with export value reaching US$ 170.07 billion and international trade surplus activities valued at US$ 79.58 billion in 2022. The food & beverages industry uses flanges in their pipelines to carry fluids from one place to another place in the manufacturing plants. Thus, the growth of the food & beverages industry fuels the flanges market growth.
Geographical Insights: The growing demand for clean water by the rural population in Asia Pacific is fostering the growth of water and wastewater management facilities. Increase in industrialization, growing urbanization, and growth in demand for energy in Asia Pacific is one of the major factors boosting the application of flanges. The construction of new offshore oil and gas facilities across different countries in Asia Pacific, such as China, Japan, and South Korea, propels the demand for flanges across the region. In July 2023, Malaysian government company Petronas stated that it had constructed six new locations for offshore oil and gas facilities. The development in the oil & gas sector is having a positive impact on the flanges market in Asia Pacific.
Growing government emphasis on mitigating environmental pollution and rising concerns for public health protection from waterborne diseases are anticipated to accelerate the growth of water treatment management facilities in Europe. Strict government regulations for water and wastewater treatment facilities and an increase in financial aid to support infrastructure development are major driving factors for the flanges market in Europe. Growing number of exploration activities in the oil & gas sector and rising number of new mineral exploration projects boost the growth of the flanges market in Europe.
The Middle East & Africa has a high potential for natural gas production, owing to the major gas fields in the Arabian Iranian basin. The Permian Khuff formation is an important gas-bearing horizon. The abundance of natural gas and a rise in demand for natural gas from different end users are expanding the oil and gas pipeline infrastructure in the region, leading to a positive impact on the flanges market.
Flanges Market Segmentation, Applications, Geographical Insights:
- Based on type, the flanges market is segmented into weld neck, slip-on, socket weld, lap joint, blind, and others.
- Based on material, the flanges market is classified into stainless steel, carbon steel, alloy steel, and others.
- Based on industry, the flanges market is categorized into oil & gas, chemical & petrochemical, power generation, manufacturing, water management, food & beverages, and others.
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Key Players and Competitive Landscape:
The Flanges Market is characterized by the presence of several major players, including:
- AFG Holdings, Inc
- Armetal Stainless Pipe
- Coastal Flange, Inc.
- Flanschenwerk Bebitz GmbH
- General Flange and Forge LLC
- Mass Global Group
- METALFAR Prodotti Industrial SpA
- Proflange
- Sandvik AB
- Texas Flange
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
Flanges Market Recent Developments and Innovations:
- ” As part of the strategic alliance with Tenaris, Alleima will be the supplier of Oil Country Tubular Goods (OCTG) tubes with Corrosion Resistant Alloys (CRA) material in a new long-term frame agreement between Tenaris and Petrobras. The agreement includes the three-year supply for offshore Brazil, where pipes will be used in the customer’s various exploration and production (E&P) wells in the pre-salt fields.”
- “Vallourec has won two major orders to supply line pipes for phases 6 and 8 of the Buzios oil field development operated by Petrobras. These orders are in addition to the contract previously won for phase 7, representing a total of 48,000 tonnes of line pipe.”
- “Corinth Pipeworks was awarded a contract, by Snam to manufacture and supply approximately 13 km of longitudinally submerged arc-welded steel pipes (LSAW) for the development of an offshore and onshore natural gas pipeline for the floating storage and regasification unit (FSRU). The contract is valued at over US$ 10.2 million.”
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Conclusion:
Key factors fueling the growth of the flanges market include the rise in investment in oil and gas infrastructure development, reconstruction of existing onshore and offshore oil and gas rigs, and an increase in the number of enhanced oil recovery projects worldwide. In addition, rapid industrialization across developing regions and reconstruction or renovation of aged industrial infrastructure in the developed regions are anticipated to raise the demand for flanges in pipeline applications. Additionally, the increase in utilization of flanges in the rapidly growing renewable energy industry across the globe is further expected to create opportunities for the players operating in the flanges market. Furthermore, increasing focus on improving energy efficiency, advancing material technology, and integrating digital technologies in predicting flanges performance are expected to be the key trends in the flanges market globally from 2023 to 2031.
Related Report Titles:
- Welding Neck Flanges Market Size and Forecasts (2021 – 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
- Square Flanges Market Size and Forecasts (2021 – 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
- Offshore Oil and Gas Pipes Fittings and Flanges Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast by 2030
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