The flanges market size is projected to reach US$ 10,589.40 million by 2031 from US$ 7,460.20 million in 2023. The market is expected to register a CAGR of 4.5% during 2023–2031. Innovations in flange materials and the integration of advanced technologies in manufacturing is likely to remain key trend in the market.

Flanges Market Analysis

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.

Key companies that manufacture flanges are engaged in transforming the raw material supplied by suppliers into high-quality and efficient flanges while ensuring the industry standards, addressing challenging environments, and meeting rigorous specifications. These companies are using advanced engineering techniques for flange production while ensuring the factors that are important for industrial applications. Key manufacturers operating in the flanges market include AFG Holdings, Inc.; Armetal Stainless Pipe; Coastal Flange, Inc.; Flanschenwerk Bebitz GmbH; General Flange and Forge LLC; Mass Global Group; METALFAR Prodotti Industrialli SpA; Proflange; Sandvik AB; and Texas Flange.

Flanges Market Overview

Flanges are one of the key components in the pipeline infrastructure in every industry, including oil & gas, power generation, chemical & petrochemical, manufacturing, water management, and food & beverages. The flanges market study covers information on the revenue generated through sales of flanges by the key players operating in the market and the demand for flanges in the industries mentioned above. Various types of materials, including carbon steel, stainless steel, and alloy steel, are used to manufacture flanges that provide several other benefits, such as long-term strength, corrosion resistance, and efficient operations.

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Flanges Market: Strategic Insights

Flanges Market

• 
  CAGR (2023 - 2031)

  4.5%
• Market Size 2023
  US$ 7,460.20 Million
• Market Size 2031
  US$ 10,589.40 Million

Market Dynamics

GROWTH DRIVERS

• Rise in Investment in Oil and Gas Pipeline Infrastructure Development

FUTURE TRENDS

• Innovations in Flange Materials and Integration of Advanced Technologies in Manufacturing

OPPORTUNITIES

• Rapid Growth of Renewable Energy Industry

Key Players

• 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
• KME Germany GmbH

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Weld Neck
• Slip-On
• Socket Weld
• Lap Joint
• Blind

Material

• Stainless Steel
• Carbon Steel
• Alloy Steel

Industry

• Oil & Gas
• Chemical & Petrochemical
• Power Generation
• Manufacturing
• Water Management
• Food & Beverages

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Flanges Market Drivers and Opportunities

Rise in Investment in Oil and Gas Pipeline Infrastructure Development

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.

Rapid Growth of Renewable Energy Industry

Flanges are important components in renewable energy systems, connecting turbines, towers, and other equipment. The rapid growth of the renewable energy industry across the globe is expected to boost the demand for flanges in the coming years. The governments of various countries across the world are focusing on reducing their carbon footprints, owing to which the energy industry is witnessing a transition toward clean energy. Governments are increasing investments in clean energy production. For instance, China's renewable energy investment accounted for US$ 890 billion in 2023, an increase of 40% as compared to 2022. In addition, the International Energy Agency (IEA) projected that world energy investment rose over 14% in 2023, reaching US$ 2.8 trillion. After remaining flat for several years, annual clean energy investments reached ~US$ 1.7 trillion in 2023. The rapid growth of the renewable energy industry is expected to create opportunities for the key players in the flanges market.

Flanges Market Report Segmentation Analysis

Key segments that contributed to the derivation of the flanges market analysis are type, material, and industry.

• Based on type, the flanges market is segmented into weld neck, slip-on, socket weld, lap joint, blind, and others. The weld neck segment held the largest market share in 2023.
• Based on material, the market is divided into stainless steel, carbon steel, alloy steel, and others. The alloy steel segment held the largest share of the market in 2023.

Based on industry, the market is divided into oil & gas, chemical & petrochemical, power generation, manufacturing, water management, food & beverages, and others. The oil & gas segment held the largest share of the market in 2023.

Flanges Market Share Analysis by Geography

The geographic scope of the flanges market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Mounting demand for energy and the growing use of natural gas are boosting the development of gas pipeline infrastructure in North America, steering the application of flanges in the region. The growing government focus on boosting renewable energy sources and mitigating carbon emissions from the environment is also positively impacting the application of flanges, as power generation and oil & gas sectors are among the major end users of flanges.

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, rise in urbanization, and growth in demand for energy in Asia Pacific are 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.

Flanges Market Report Scope

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Flanges Market News and Recent Developments

The flanges market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the flanges market are listed below:

• 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 a 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. (Source: Alleima, Press Release, January 2023)
• 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. (Source: Vallourec, Press Release, July 2023)

Flanges Market Report Coverage and Deliverables

The "Flanges Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Flanges market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Flanges market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Flanges market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the flanges market
• Detailed company profiles