Flanges market seen reaching $7.39 billion by 2031

Allied Market Research says the global flanges market is on track to grow from $4.50 billion in 2021 to $7.39 billion by 2031, driven by oil and gas demand, industrial piping use and broader adoption across developed and developing markets. Asia-Pacific held the largest share in 2021, while the report flags the “others” segment across type, material and application as the fastest-growing in several categories.

Why it matters: - The flanges market is tied to industrial piping, oil and gas infrastructure and manufacturing activity, so its growth points to broader capital spending across heavy industry. - Allied Market Research projects the market will add nearly $2.9 billion in value by 2031, which signals steady long-term demand rather than a short cycle rebound. - The report says the strongest opportunities are in North America, Asia-Pacific and other developing markets where industrial buildout continues.

What happened: - Allied Market Research released a report on the global flanges market covering type, material, industry verticals and regional trends. - The report estimates the market at $4.50 billion in 2021 and forecasts $7.39 billion by 2031. - The forecast implies a 5.0% compound annual growth rate from 2022 to 2031. - The report is available through a sample PDF.

The details: - Control technologies that reduce liquid wastage in pipes and valves are supporting lower operating costs and market growth. - Rising oil and gas production, especially in North America, is adding to demand. - The COVID-19 shock hurt construction and transportation activity and disrupted supply chains across multiple verticals. - That disruption reduced manufacturing of construction materials and weakened market demand. - Market recovery has started as industries resume normal manufacturing and services. - By type, the “others” segment accounted for nearly two-fifths of market share in 2021. - The “others” type segment is projected to lead by 2031 and post the fastest CAGR at 5.8%. - By material, the “others” segment generated more than one-fourth of revenue in 2021. - The “others” material segment is forecast to be the fastest-growing at 5.5% through 2031, helped by alloy-based flanges with high strength and flexibility. - By application, oil and gas held nearly one-third of revenue in 2021 because of large-scale piping systems. - The “others” application segment is expected to grow the fastest at 7.3% through 2031 as piping use expands across industries. - By region, Asia-Pacific held nearly two-fifths of global revenue in 2021. - Asia-Pacific is also forecast to grow the fastest at 6.0% through 2031, led by development in China and India. - The report also covers North America, Europe and LAMEA. - Key players named in the report include 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.

Between the lines: - The fastest-growing segments are concentrated in broad “others” buckets, which suggests the market is benefiting from diversified industrial use rather than one narrow product category. - Oil and gas remains the anchor end market, but the report points to wider piping demand across multiple industries as a second growth engine. - The regional split suggests Asia-Pacific is the current volume leader, while North America’s oil and gas activity remains a key near-term demand driver.

What’s next: - The report says companies are using expansion, new product launches and partnerships to raise market share. - Further growth will likely depend on industrial investment, oil and gas output and the pace of recovery in construction and transportation-linked supply chains. - More information is available through the company’s analyst contact page.