Flanges Market Size - By Material (Stainless Steel, Alloy Steel, Carbon Steel), By Shape (Weld Neck, Slip-On, Socket Weld, Lap Joint, Blind), By End-user (Oil & Gas, Petrochemical, Power Generation, Wastewater Management, Chemical), & Global Forecast, 202

Flanges Market Size - By Material (Stainless Steel, Alloy Steel, Carbon Steel), By Shape (Weld Neck, Slip-On, Socket Weld, Lap Joint, Blind), By End-user (Oil & Gas, Petrochemical, Power Generation, Wastewater Management, Chemical), & Global Forecast, 2023 - 2032

Global flanges market value is expected to register a CAGR of over 5.5% through 2023-2032, with increasing investments across wastewater management and power generation sectors. As the urbanization and industrial activities worldwide surge to cater to a growing consumer demand, the need for reliable wastewater facilities and energy supply will expand in developed as well as emerging economies. For instance, in December 2021 the European Union, EBRD and EID announced they were financing a new wastewater treatment plant in Kosovo, to boost sanitation in the region.

The flanges industry report is bifurcated based on material, share end-user and regional segments.

In terms of the materials, carbon steel flanges will experience consistent rise in application owing to key characteristics such as corrosion resistance, high durability, better pressure handling and recyclability. The product is suitable for use in agriculture sector, oil & gas industry, HVAC solutions as well as renewable energy installations. Rising deployment in chemical production facilities could also bolster the segment growth by 2032.

Socket weld flanges market share will expand at a steady pace over the coming decade due to their use in chemical processing, aerospace, and other sectors. These products are known to have high resistance to mechanical stress and vibration, along with strong reliability. Globally, the consumption of various industrial and domestic chemicals is growing. Chemical industry accounts for over 11% of Brazil’s GDP, indicating the large potential for industry development and the use of key piping components such as flanges worldwide.

Regarding the regional landscape, Middle East and Africa (MEA) flanges industry value will see considerable gains over the forecast years 2023 to 2032. Countries such as the UAE, Saudi Arabia and South Africa are witnessing increased development of wastewater facilities and power plants. Citing an example, the Fujairah F3 power project, which was expected to start by 2023, is the largest natural gas based GTCC plant in the UAE. Such cases demonstrate the tremendous capacity for flanges market in the region.

Some of the prominent competitors in the global flanges industry include Kohler Corporation, AFG Holdings, Inc., Simtech Process Systems, SSI Technologies and Coastal Flange Inc., among others.