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A Comprehensive Overview of the Global Flanges Market (2021-2031): Navigating Growth

11-23-2023 01:39 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

A Comprehensive Overview of the Global Flanges Market

Allied Market Research recently unveiled an insightful report, "Flanges Market by Type, Material, and Industry Verticals: Global Opportunity Analysis and Industry Forecast, 2021-2031." This comprehensive study delves into the dynamic landscape of the flanges industry, examining market trends, key segments, investment opportunities, value chain dynamics, competitive scenarios, and regional landscapes. The global flanges market, estimated at $4.50 billion in 2021, is projected to reach $7.39 billion by 2031, with a notable CAGR of 5.0% from 2022 to 2031.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/11078

Driving Forces of Growth:

The adoption of control technologies has proven instrumental in curbing liquid wastage through pipes and valves, resulting in cost reductions and propelling the global flanges market forward. Additionally, the increasing focus on expanding oil and gas production, particularly in North America, has further fueled market growth. Robust growth prospects in developed and developing regions have provided key players with significant opportunities for expansion.

Impact of Covid-19:

The flanges market faced setbacks during the Covid-19 pandemic due to disruptions in construction, transportation, and supply chains across various industry verticals. However, as industries resume regular manufacturing and services, the flanges market is recovering swiftly.

Buy This Report: https://www.alliedmarketresearch.com/checkout-final/9e5ab0718c8558f66e4afe5dc1ae7091

Segment Insights:

The Dominance of the "Others" Segment by 2031:

The "Others" segment contributed nearly two-fifths of the global flanges market share in 2021.

It is expected to maintain this lead by 2031, with a forecasted CAGR of 5.8%, driven by extensive applications by end-users.

The report also covers segments such as slip-on, socket weld, and threaded.

Material Matters: The Reign of the "Others" Segment:

The "Others" segment generated over one-fourth of the global flanges market revenue in 2021.

It is projected to maintain its dominance through 2031, exhibiting the fastest CAGR of 5.5%.

This is attributed to the high strength and flexibility of flanges manufactured with alloy material.

Other material segments include stainless steel, carbon steel, and aluminum.

Oil and Gas Segment Holds Strong:

The oil and gas segment accounted for nearly one-third of the global flanges market revenue in 2021.

Its dominance is linked to the large-scale piping systems in the industry.

The "Others" segment is anticipated to witness the fastest CAGR of 7.3% from 2022 to 2031, driven by increased piping applications across various industries.

The study also analyzes segments like automotive, manufacturing, and HVAC.

Regional Dynamics:

Asia-Pacific Leads the Charge:

Asia-Pacific held a substantial share of nearly two-fifths of the global flanges market in 2021.

The region is expected to witness the fastest CAGR of 6.0% throughout the forecast period, fueled by rapid development in countries such as China and India.

Other regions covered in the report include North America, Europe, and LAMEA.

Inquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/11078

Key Industry Players:

The report profiles key players shaping the flanges market, including Coastal Flange, Inc., Flanschenwerk Bebitz GmbH, Hitachi, Mass Global Group, Kerkau Manufacturing, Kohler Corporation, Texas Flange, METALFAR Prodotti Industriali S.P.A., AFG Holdings, Inc., Pro-Flange, Qontrol Devices, Inc., Saini Flange (p) ltd., Outokumpu Armetal Stainless Pipe Co. Ltd (OASP), Sandvik AB, Simtech Process Systems SSI Technologies, Inc., and General Flange & Forge LLC. These industry leaders play pivotal roles in driving innovation and growth within the global flanges market.


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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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