Flanges Market Outlook and Opportunities over 2019 - 2025
Global Market Insights: The Report 2019-2025 Global Flanges Market Report explores the essential factors of the Flanges market considering such as industry situations, market demands, market players adopted business strategies and their growth scenario.
Flanges market share 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 constant flow of liquids and enable protection of marine environment. Stainless steel flanges are used in wastewater management plants due to their high corrosion resistant properties and a good service life. The stainless-steel grade with increased chromium content is used in flanges resist corrosion arising out of chlorides like seawater making it a necessary choice of wastewater plant processes.
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One of the major hurdles in flanges market growth is volatility in its raw material prices. Steel is one of the main components of flanges and faces the most uncertainty in prices. The price volatility in metals is solely due to the fact that metals are traded in metal exchange and hence the buyers must undergo a huge risk for locking the prices. This price volatility might hinder many new market entrants to invest in flanges manufacturing business.
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 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 major end-users of flanges are oil & gas, power generation, wastewater management, petrochemicals etc. Torque flanges are used mostly in power plants. Power generation segment will register a revenue more than USD 750 million for the market in 2025.
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 large pipeline networks to cater the huge regional population will be key driving factors.
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Owing to presence of large number of end-users, flanges market share is highly fragmented in nature. Some of key industry players include Texas Flange, Pro-Flange Limited, Outokumpu, General Flange & Forge, Sandvik Materials Technology etc.
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Flanges Market Outlook and Opportunities over 2019 - 2025
Reviewed by Vinayak Shinde
on
July 08, 2019
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Reviewed by Vinayak Shinde
on
July 08, 2019
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