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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. 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.Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/3443
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.
Browse key industry insights report, “Flanges Market Size By Material (Stainless Steel, Alloy Steel, Nickel Alloy, Carbon Steel), By Size (0.5 to 12 inches, 13 to 24 inches and 25 to 60 inches), By Shape (Weld Neck, Slip-on, Socket Weld, Lap Joint, Blind), By End Users [Oil & Gas (Upstream, Midstream, Downstream), Petrochemical, Power generation, Wastewater management, Chemical Industry] Industry Analysis Report, Regional Outlook (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) Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/flanges-market
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.
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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.
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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