Global Flanges Market: Overview
A flange refers to an object that connects pumps, valves, pipes and other equipment to create a piping system. It also offers easy access for various purposes, such as modification, inspection, or cleaning. Flanges are generally either screwed or welded. Flanged joints are created by bolting together two flanges with a gasket placed between them so as to provide a seal.
Transparency Market Research has successfully elucidated all the facets of global flanges market in its report on the same. Information pertaining to the market drivers, trends, restraints, key players, and forecasts has been provided in this study. Efforts are made to explore every possible opportunity available in the said market. The data shared in this report is sure to assist businesses that are operating the market.
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Global Flanges Market: Notable Developments
Companies are taking up various strategies to differentiate themselves from other players and gain upper-hand in the global flanges market.
- AF Global has amalgamated its operations with Special Flanges in Italy. The amalgamation of these two companies aims to improve capacity and diversify the product portfolio of AF Global. Special Flanges have expanded their portfolio and forgings of flanges product portfolio.
Outokumpu Armetal Stainless Pipe Company Ltd, Texas Flange, Mass Global Group, and Coastal Flange Inc. are few of the notable companies that are operating in the global flanges market and have been profiled in this study.
Global Flanges Market: Key Trends
The global flanges market is prophesized to manifest the below-mentioned market trends, restraints and opportunities:
Technological Advancement and Awareness to Escalate Market Demand
Reinforced by flourishing oil & gas industry together with rising power generation activities all over the world, global flanges market is poised to attain substantial growth in the years to come. Oil & gas industry is amongst the leading users of flanges for pipelines and refineries applications. Increasing consumption of oil in Asian and North America countries make them the major contributor towards augmented growth of the global flanges market. A robust expansion and growth of the petrochemical industry in the U.S. fuelled by increasing exploration and production activities of crude oil in the country. These factors are crucial in influencing the demand for crude oil in the region. Additionally, upgrades, replacements, and refurbishments in the refineries for processing lighter crudes will further fuel growth of the industry.
With the rise in the activities of power generation, global flanges market has been taking strides towards the path of increasing growth in the past few years. Besides, solar energy and hydroelectricity are the two major factors that are behind the continuous growth of the power generation industry.
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Despite the application of flanges in a large number of industries, there are many reasons that are curbing the growth of global flanges market. Leakage is the primary concern that is associated with flanges. This generally happens when the load on the gasket falls below its minimum seal pressure. Flanges are needed to be leak free and to preserve a leak rate of 500 PPM or below as per the regulations of Environmental Protection Agency for fugitive emissions.
Global Flanges Market: Geographical Analysis
In terms of geography, global Flanges market is segregated into the regions of North America, Europe, Middle East and Africa, Latin America, and Asia-Pacific. Propelled by the developing countries in the region, such as China and India, Asia pacific has come up as the leading market for flanges recently. Regional domination is ascribed to the existence of a large number of market players in these countries.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
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