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Flanges Market Trends

  • Report ID: GMI3443
  • Published Date: Jul 2024
  • Report Format: PDF

Flanges Market Trends

The flanges industry is undergoing a significant shift towards lightweight and corrosion-resistant composite materials like fiber-reinforced polymers (FRPs). FRPs offer substantial weight reduction compared to traditional steel flanges. According to a study by the American Composites Manufacturers Association (ACMA), FRP flanges can be up to 60% lighter than their steel counterparts. This translates to significant cost savings in transportation and installation, especially for large-scale projects.  Additionally, advancements in manufacturing processes like filament winding and resin transfer molding are enabling the production of high-strength and cost-effective FRP flanges, thereby propelling the market growth.
 

Additionally, advancements in manufacturing techniques are impacting the flanges market. One example is the growing use of robotic welding and automated assembly lines for composite flanges. This allows for mass production of high-quality flanges, driving down costs and improving overall efficiency in the market. These advancements enable the use of innovative materials and complex designs, further expanding the capabilities of flanges. The American Welding Society (AWS) reports that the adoption of robotic welding in the flange industry is increasing at a rapid pace. This is driven by the ability of robots to achieve consistent and high-quality welds, particularly for complex geometries often encountered in composite flanges.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of flanges was recorded USD 5.4 billion in 2023 and will expand at a 5.8% CAGR between 2024 and 2032, owing to the rapid growth of the oil and gas industry.

The flanges market share from the weld neck shaped segment will register 4% CAGR through 2032, attributed to the superior strength and ability of weld neck shaped flanges to withstand high pressure and temperature conditions.

Asia Pacific flanges industry size surpassed USD 2.5 billion in 2023, driven by the region's booming construction and infrastructure projects.

Prominent manufacturers operating in the flanges market are Hitachi, Kerkau Manufacturing, Kohler Corporation, Maass Global Group, Metalfar S.p.A., OCoastal Flange Inc, Piping Technology & Products, Inc., Pro-Flange, Simtech Process Systems, SSI Technologies, Inc., Star Pipe Products, Ltd., and Texas Flange among others.

Flanges Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 531
  • Countries covered: 21
  • Pages: 340
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