Flanges Market Size By Material (Stainless Steel, Alloy Steel, Nickel Alloy, Carbon Steel), By Size (0.5 To 12 Inches, 13 To 24 Inches, 25 To 60 Inches), By Shape (Weld Neck, Slip-On, Socket Weld, Lap Joint, Blind), By End-user (Oil & Gas [Upstream, Midstream, Downstream], Petrochemical, Power Generation, Wastewater Management, Chemical Industry), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Published Date: Jun 2019 | Report ID: GMI3443 | Authors: Kiran Pulidindi, Hemant Pandey
Flanges market size was estimated over USD 4.1 billion in 2018 and will exhibit growth of over 5.5% by 2025.
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Strengthened by thriving oil & gas industry coupled with boosting power generation activities worldwide, global flanges market is positioned to attain significant growth in the near future. Oil & gas industry is among the foremost users of flanges for refineries and pipelines application. Increasing oil consumption in Asian countries as well as in North America is the major contributor for escalating growth of the market. A strong expansion of petrochemical industry in the U.S. triggered by rising exploration and crude oil production activities in the country is one of the crucial factors influencing crude oil demand in the region. Moreover, refurbishments, replacements, and upgrades, in the refineries for the purpose of processing lighter crudes will further boost the industry growth.
With escalating power generation activities, global flanges market is striving towards an increasing growth trend for the past few years. According to BP plc, global power generation rose by 2.8% in 2017 driven by strong expansion in renewable energy. Furthermore, hydroelectricity and solar energy are the two main drivers behind the constant growth of power generation industry. Global hydel power generation has escalated to a larger extent from the previous years. Most of this growth is underpinned by increasing government support.
Despite of being used in large number of industries, there are some factors restricting growth of flanges market. Leakage is the main issue associated with flanges. This usually occurs because the load on the gasket has fallen below its minimum seal pressure. Flanges are required to be leak free and to maintain a leak rate of 500 PPM or below this as per Environmental Protection Agency’s regulations for fugitive emissions.
|Base Year:||2018||Market Size in 2018:||4.1 Billion (USD)|
|Historical Data for:||2014 to 2018||Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||5.5%||2025 Value Projection:||6 Billion (USD)|
|Pages:||378||Tables, Charts & Figures:||918|
|Geographies covered (22):||U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait|
|Segments covered:||Material, Size, Shape, End-user and Region|
|Companies covered (15):||Jignesh Steel, Outokumpu Armetal Stainless Pipe Co Ltd (OASP), Pro-Flange Limited, Coastal Flange, Mass Global Group, Rajendra Industrial Corporation, Suraj Limited, Kerkau Manufacturing, General Flange & Forge LLC, Texas Flange, Viraj Profiles Ltd., Sandvik Materials Technology, Flanschenwerk Bebitz Gmbh, Metalfar, AFGlobal|
|Pitfalls & Challenges:||
Flanges Market, By Material
Among all the production material in flanges market, stainless steel has the maximum share of over 45% owing to its ability to provide high resistance to corrosion, enduring extreme temperatures and due to ease in fabrication. Stainless steel has a minimum of 10.5-11% chromium content, which creates a chromium oxide film on the outer layer turning the flanges corrosion resistant.
Several types of stainless-steel flanges have applications in oil & gas industry. Weld neck flange, blind flanges, slip on flanges are some of the commonly used stainless steel flanges in oil & gas sector. Weld neck flanges are often used for applications where high pressure is a factor. Apart from being used in flanges, stainless steel is also used in making flowlines, heat exchangers, structural components and in processing equipment.
Flanges Industry, By Size
Flanges are distinguished on the basis of size varying from 0.5 inch to 60 inches. Flanges size are defined as per ASME standards. Flanges dimensions are generally determined by pipe size and pressure class needed for specific application. ASME/ANSI B16.5 is the standard dimensions of bolt and flanges. Flanges falling in the range of 0.5-12 inches are mostly preferred in the market and thus recorded a demand share of over 55% in 2018. For instance, blind plate flange having a thickness of 0.5 inches are used in low pressure area to avoid flow and seal the end line of pipes.
Flanges Market, By Shape
Based on shape, there are ample number of flange types such as weld neck, socket weld, slip-on, lap joint, blind etc. Weld neck will hold a significant share of over 60% followed by slip on blind and socket weld. Weld neck flanges is recognized by long-tapered hubs, that generally goes gradually over the wall thickness from any pipe or fittings. This type of flanges is suitable to be used in high stress application areas such as high pressure and elevated temperatures. They are easily radiographed for flaw detection and also provide enhanced stress distribution through the tapered hub. On the other hand, slip on flanges can be fitted over the pipe and then fillet welded to provide strength and prevent leakage.
Flanges Market, By End User
Flanges have their footprints in several industries namely oil & gas, petrochemical, power generation, wastewater management and many more. In 2018, oil & gas segment held a prominent share of more than 35% of the global flanges market. Flanges are used in upstream pipeline, refineries as well as in oil extraction processes to facilitate the flow of liquids. Based on revenue, the petrochemical end-use segment held a substantial revenue of more than USD 590 million in 2018. In petrochemical industry, flanges are used in research laboratories, factories as well as in pilot plants. Such chemical plants require special pipe fittings and flanges which can withstand the continuous processing of fluid, mass and heat transfer.
Flanges Industry, By Region
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Driven by various developing countries in the region, Asia pacific has emerged as the strongest market for flanges with collective regional market share of over 45% in 2018. The market is dominated by countries including China and India, attributed to the presence of large number of manufacturers in these countries. Furthermore, China represents a well-established steel market which acts as a major factor driving flanges production in the country. Global real demand for stainless steel products reached 43.2 million tonnes in 2018 with growth most pronounced in the APAC region at 5.7%. China is among the top exporters of steel supplying to almost 200 countries. According to World Steel Association, China’s crude steel production also grew by 12 % in 2018 reaching to a record high of 928.3 million metric tons from 831.7 million metric tons in 2017.
Competitive Market Share
The competitive landscape of flanges market is quite fragmented by the presence of several small and large-scale firms. The market players are mainly concentrated in Asian countries followed by North America. Some of the major flanges producers are Outokumpu Armetal Stainless Pipe Co Ltd, Mass Global Group, Coastal Flange Inc, Texas Flange and many others. Companies are adopting various strategies to differentiate themselves from other players. For instance, AF Global has integrated its business with Special Flanges in Italy. The integration aims at enhancing capacity and product portfolio of AF Global. Special Flanges have increased flanges product portfolio and forgings.
Flanges market is witnessing higher growth rate as a result of escalating end user industries such as oil & gas, petrochemicals, chemicals and power generation. In addition, the market is also driven by increasing wastewater management activities worldwide where flanges are used in chlorine injection systems in wastewater operations. The growing awareness for wastewater treatment supported by active government participation in the sector is the key factor for the growing demand of flanges in the water treatment operations.
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