Flanges Market 2020 Evolution Opportunities, Demands and Growth Revenue by 2025
Category: #business  By Rahul Varpe  Date: 2020-10-14
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Flanges Market 2020 Evolution Opportunities, Demands and Growth Revenue by 2025

Flanges Market will surpass USD 6 billion by 2025; according to a new research report.

Flourishing growth in global oil & gas industry is the key factor stimulating flanges market. Flanges are equipment of connecting pipes, pumps, valves and many other objects to form a piping system in refineries as well as in upstream activities. A flanged joint is made by combined bolting of two flanges with a gasket to provide a seal. The equipment provides easy access for various industrial application like cleaning, modification or inspection. Global crude oil consumption was estimated approximately 99.2 million barrels per day and is expected to increase to 100.6 million barrels per day in 2019. Oil demand is propelled by oil importers benefitting from windfall of low prices with both U.S. and Europe posing notable gains. In addition, a spurt in petrochemical sector have resulted in a huge demand on pipe fitting industry, which will subsequently improve the number of projects for constructing distribution lines that require high-grade industrial fittings, flanges and fluid components.

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Flanges are commonly used in power generation operations for instance, oil & gas-powered stations and nuclear plants uses large number of flanges and fittings. They are usually found in heat exchangers, vessels, boilers, condensers, valves, pumps, generators, pipe work, turbine halls and reactors. Global power generation rose by 2.8% in 2017 driven by strong expansion in renewable energy. However, leakage issues associated with flanges might hamper the overall market growth. It usually occurs when load on the gasket falls below its minimum seal pressure.

Based on revenue, stainless steel flanges segment is anticipated to reach over USD 2.5 billion in 2025. These flanges are generally manufactured as per the material specifications defined by the American Society of Testing and Material and are produced in various grades of stainless steel with varying chromium content. The manufacturing of stainless-steel flanges involves forging, heat treatment and finishing. This material is more preferred in fabrication of flanges owing to its superior properties such as durability, recyclability and high temperature and corrosion resistance.

On the basis of size, 0.5 to 12 inches flanges is probable to hold substantial market share close to 70% of the overall flanges market in 2025. These industrial flanges nominal pipe size vary as per their applications. For instance, power generation sector require comparatively large sized flanges than in wastewater management. These are described by the American Society of Mechanical Engineers (ASME) standards which includes fastener and gasket dimensions, minimum material requirements, minimum material requirements, etc.

Weld neck flanges has emerged as the most preferred flanges as they are circumferentially butt weld at the neck to pipe which helps in reducing turbulence and erosion inside the pipeline. Its hub transmits stresses from base to wall thickness of the pipe, thereby providing strong reinforcement. Adding further, lap joint flanges are generally used at all pressure conditions since they can be easily rotated for alignment. They are typically used in applications where sections of piping systems need to be dismantled for inspection and replacements.

A substantial share of flanges production is consumed by the oil & gas industry as attachment components in pipelines, valves and pumps. This segment is projected to capture a significant share of over 35% in the global flanges market by 2025. On the other hand, power generation sector is anticipated to grow at a faster pace and utility of flanges in this sector will offers various benefits to power generation plants such as easy mounting, analyzing fuel consumption and optimization, accurate and efficient measurements etc.

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Asia pacific is expected to capture almost half of the total flanges market by the end of forecast period. Propelling steel industry and relocation of manufacturing hubs due to easy access of cost-effective labor and raw materials in China, India, Thailand, Indonesia will help augment the flanges market during the forecast period.

The flanges market competitive landscape includes key players such as Coastal Flange, Outokumpu Armetal Stainless Pipe, Mass Global Group, Texas Flange, Pro-Flange Limited, Suraj Limited etc.

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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