Global Flanges Market Size, Share, And Growth Analysis For 2024-2033

Flanges Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 27, 2024 /EINPresswire.com/ -- The flanges market has experienced robust growth in recent years, expanding from $4.92 billion in 2023 to $5.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to industrial growth and infrastructure development, expansion of oil and gas exploration, power generation projects, shipbuilding and marine industries, chemical and petrochemical sector growth.

What Is The Estimated Market Size Of The Global Flanges Market And Its Annual Growth Rate?
The flanges market is projected to continue its strong growth, reaching $6.83 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to growth of renewable energy projects, emphasis on corrosion-resistant materials, increased focus on sustainable practices, rise in pipeline construction projects, global events, and energy policies. 

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Growth Driver Of The Flanges Market
The increasing expansion of petroleum industry is expected to propel the growth of flanges market going forward. Flanges are crucial components in piping systems. The construction and expansion of pipelines, refinery operations, oil and gas exploration, upstream and downstream projects, global energy demand, technological advancements, government policies, and international trade all contribute to the rising need for flanges.

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Which Market Players Are Driving The Flanges Market Growth?
Key players in the market include SSI Technologies LLC, Simtech Process Systems, Qontrol Devices Inc., Saini Flange Pvt Ltd., AFG Holdings, Coastal Flange, Flanschenwerk Bebitz GmbH, General Flange and Forge LLC, Mass Global Group, METALFAR Prodotti Industrial SA, Outokumpu Armetal Stainless Pipe Co., Pro-Flange Ltd., Sandvik AB, Texas Flange, Fastenal Company, Wilhelm Bollhoff GmbH und Co KG, STANLEY Engineered Fastening, Locknut Technology Inc., Bebitz GmbH, Bonney Forge Corporation, C&N Industrial Limited, Cangzhou Ritia Pipe-Fittings Manufacture Co Ltd., Changsha Jetsun Trade Development Co., China Steel Flange Manufacturer, Dinesh Industries, Dynamic Forge & Fittings Pvt Ltd., Elite Piping Manufacture Co Ltd., Flange Wizard Inc., Forged Components Inc.

What Are The Emerging Trends Shaping The Flanges Market Size?
Major companies operating in the flanges market are focused on launching new solutions with innovative designs, such as water-shedding designs, to sustain their position in the market. The water-shedding design of a flange refers to a specific design feature that prevents the accumulation of water. This design typically includes a built-in radius or other structural elements that facilitate the shedding of water, preventing it from pooling or accumulating on the flange. 

How Is The Global Flanges Market Segmented?
1) By Type: Welding Neck, Long Welding Neck, Slip-On, Socket Weld, Lap Joint, Other Types
2) By Material: Carbon Steel, Stainless Steel, Aluminum, Polymer, Other Materials
3) By End User: Aviation And Aerospace, Petrochemical, Architectural Decoration, Food And Beverages Processing, Construction, Other End-Users

Geographical Insights: Asia-Pacific Leading The Flanges Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Flanges Market Definition
A flange is a rib or rim that provides strength, direction, or attachment to another item. A flange connects pipes, valves, pumps, and other systems to form a piping device. Flanges are generally welded or screwed.

Flanges Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global flanges market report covering trends, opportunities, strategies, and more
The Flanges Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on flanges market size, flanges market drivers and trends and flanges market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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