Global Flanges Market Projected to Grow at 6.8% CAGR, Reaching $7.07 Billion by 2029

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What Will the Flanges Industry Market Size Be by 2025?
In the past few years, the flanges market has witnessed a consistent growth. The market size, which is projected to be $5.19 billion in 2024, is anticipated to increase to $5.44 billion in 2025, marking a compound annual growth rate (CAGR) of 4.8%. The growth during the historical period is primarily due to industrial and infrastructural development, expansion in oil and gas exploration activities, power generation projects, shipbuilding and marine industries, as well as growth in the chemical and petrochemical sectors.

What's the Long-Term Growth Forecast for the Flanges Market Size Through 2029?
The market size for flanges is predicted to witness robust expansion in the upcoming years. It is anticipated to reach $7.07 billion by the year 2029, at a compound annual growth rate (CAGR) of 6.8%. The expansion in the forecast period is largely due to factors such as the rise in renewable energy projects, focus on materials resistant to corrosion, growing emphasis on sustainable practices, increase in pipeline construction projects, worldwide events, and energy policies. Key trends during the forecast period include the adoption of digital twin technologies, emphasis on sealing technologies, technological advancement in flange design, progress in manufacturing technologies, global events, and energy policies.

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What Are the Key Growth Drivers Fueling the Flanges Market Expansion?
The flanges market is predicted to grow substantially due to the expanding evolution of the petroleum industry. Flanges, which are key pieces in piping systems, are necessary for purposes such as the building and development of pipelines, refinery functions, oil and gas detection, both upstream and downstream work, worldwide power needs, advanced technology, government regulations, and global business. As an illustration, Statistique Canada, a statistics agency based in Canada, noted in March 2023 that 112.3 million cubic meters of refined petroleum products were produced in 2022, marking a 0.8% rise compared to the previous year. This surge was fundamentally due to drastically increased production of kerosene-type jet fuel, which grew by 44.7%, and distillate fuel oil, with a growth of 2.1%. Thus, the ever-growing petroleum industry is acting as a major catalyst for the growth of the flanges market.

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What Trends Will Shape the Flanges Market Through 2029 and Beyond?
Leading corporations in the flanges industry are focusing on innovating and creating advanced stainless steel seal as a replacement for the current gasket technologies. The new and improved stainless steel sealing methodologies offer enhanced effectiveness, long-lasting performance, and increased resistance to corrosion as compared to the classic gasket materials. For example, in June 2023, Pipeotech, a gasket manufacturing firm based in Norway, unveiled a new 304L stainless steel DeltaV-Seal specifically for nitric acid service. This forward-thinking innovation is likely to be advantageous to fertilizer plants by increasing the duration between gasket replacements, thereby leading to considerable cost savings. DeltaV-Seal addresses the sector's challenge of appropriately sealing nitric acid pipelines, particularly from the perspective of fertilizer production. The DeltaV-Seal technology not only pledges to reduce carbon emissions but also offer operational benefits. This emphasizes the company's commitment to the development of durable and high-efficiency sealing solutions.

How Is the Flanges Market Segmented?
The flanges market covered in this report is segmented -

1) By Type: Welding Neck, Long Welding Neck, Slip-On, Socket Weld, Lap Joint, Other Types
2) By Material: Carbon Steel, Stainless Steel, Aluminum, Polymer, Other Materials
3) By End User: Aviation And Aerospace, Petrochemical, Architectural Decoration, Food And Beverages Processing, Construction, Other End-Users

Subsegments:
1) By Welding Neck: Standard Welding Neck, Raised Face Welding Neck, Long Welding Neck Flanges
2) By Long Welding Neck: Raised Face Long Welding Neck
3) By Slip-On: Standard Slip-On, Raised Face Slip-On
4) By Socket Weld: Standard Socket Weld, Raised Face Socket Weld
5) By Lap Joint Flanges: Standard Lap Joint, Raised Face Lap Joint
6) By Other Types: Blind Flanges, Threaded Flanges, Orifice Flanges

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Which Companies Are Leading the Charge in Flanges Market Innovation?
Major companies operating in the flanges market include SSI Technologies LLC, Simtech Process Systems, Qontrol Devices Inc., Saini Flange Pvt Ltd, AFG Holdings, Coastal Flange, General Flange and Forge LLC, Mass Global Group, METALFAR Prodotti Industrial SA, Outokumpu Armetal Stainless Pipe Co., Pro-Flange Ltd., Sandvik AB, Texas Flange, Fastenal Company, Wilhelm Bollhoff GmbH und Co KG, STANLEY Engineered Fastening, Bebitz GmbH, Bonney Forge Corporation, C&N Industrial Limited, Cangzhou Ritia Pipe-Fittings Manufacture Co Ltd., Changsha Jetsun Trade Development Co., China Steel Flange Manufacturer, Dinesh Industries, Dynamic Forge & Fittings Pvt Ltd, Elite Piping Manufacture Co Ltd, Flange Wizard Inc., Forged Components Inc.

Which Regions Are Leading the Global Flanges Market in Revenue?
Asia-Pacific was the largest region in the flanges market in 2024. The regions covered in the flanges market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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