Flanges Market size was over USD 5.74 billion in 2024 and is projected to reach USD 11.66 billion by 2037, growing at around 5.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of flanges is assessed at USD 6 billion.
The growing requirement for energy is an important aspect fueling the flanges market need for flanges which is found in various power generation facilities, including hydroelectric, thermal, and nuclear plants since they are essential to the safety, effectiveness, and operation of systems in these settings.
According to the International Energy Agency, in 2021, there was a 5% increase in the electricity demand, with coal accounting for over half of this increase.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.6% |
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Base Year Market Size (2024) |
USD 5.74 billion |
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Forecast Year Market Size (2037) |
USD 11.66 billion |
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Regional Scope |
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Type (Slip-on, Socket Weld, Weld Neck, Threaded, Lap Joint, Blind)
Weld neck segment is anticipated to dominate flanges market share of around 62% by the end of 2037. The segment growth can be attributed to the increasing production of chemicals. For instance, the output of chemicals is estimated to increase globally at a rate of around 2% annually. This makes large pipeline networks necessary for the transportation of both raw materials and completed commodities, increasing the demand for weld neck flanges.
To join two pipes, a weld neck flange is one kind of pipe fitting that is utilized in chemical facilities since these operations require high pressure, harsh temperatures (cold or hot), and combustible or caustic substances.
End-Use (Automotive, Oil and Gas, Manufacturing, HVAC)
The oil and gas segment in flanges market is set to gather enormous CAGR during the forecast period. The major factor for the expansion of the segment is the rising production of oil and gas across the globe. Particularly, in 2022, there were more than 92 million barrels of oil produced daily worldwide.
The oil and gas sector work with a variety of fluids, including water, chemicals, gas, and oil therefore, to avoid potential problems like leaks, and guarantee safety, this industry's harsh and high-pressure settings demand the use of robust and dependable flanges.
Material (Carbon Steel, Aluminum, Stainless Steel)
The stainless-steel segment is anticipated to hold a sizable revenue share in the flanges market through 2037. This growth of the segment is set to be encouraged by the rising need for safe water. As per a report published by the United Nations, the percentage of people worldwide who have access to safely managed drinking water rose from 69% to 73% between 2015 and 2022.
For the past 50 years, stainless steel flanges have been used in municipal water supply systems and water treatment facilities, to join pipes regulate water flow, handle wastewater, and supply clean water.
For instance, stainless steel is ideal for potable water treatment plants where a particular chemical content could enhance corrosion since it includes over 1% molybdenum, which helps prevent corrosion from chlorides.
Our in-depth analysis of the flanges market includes the following segments:
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Type |
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Material |
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End-Use |
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Size |
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APAC Market Statistics
Asia Pacific industry is poised to account for largest revenue share of 47% by 2037. The market growth in the region is also expected on account of rapid urbanization. The need for construction projects has surged as a result which may augment the flanges market.
As per the World Bank, with an average yearly urbanization rate of 3%, East Asia and the Pacific are the regions that are urbanizing the fastest in the world.
Japan, an island nation encircled by ocean, is the third-largest shipbuilding nation in the world today, behind South Korea and China. Flanges are essential to shipbuilding to preserve the structural integrity of the ship's systems, whether they be for cargo ships, cruise liners, or military boats.
The bulk of global steel production is accounted for by Asia-Pacific, which is led by China owing to low labor and raw material prices, leading to rising demand for stainless steel flange.
For instance, China produced over 35 million tonnes of crude stainless steel in 2023, an increase of around 12%.
Additionally, the world's most renowned manufacturers and traders of pipeline items are headquarters in Korea and supply top-notch flanges and fittings.
North American Market Analysis
The North America region will also register a robust CAGR for the flanges market during the forecast period and will hold the second position owing to the increasing aerospace industry in this region fueled by rising air traffic. This is likely to boost the adoption of flanges which are often used in fuel systems, hydraulic power unit, and aircraft engines to improve overall performance and dependability while also boosting safety and fuel efficiency.
One of the biggest car marketplaces in the world is found in the United States, leading to a significant demand for automobile flanges including threaded, flat, blind, slip-on, and welding neck.
For instance, more than 2% of the US GDP is generated by the automotive sector.
The Canadian government has pledged to support infrastructure projects worth approximately USD 185 billion over 12 years, which may fuel the flanges industry in the region.
The flanges market consists of many key players who are launching various strategic initiatives to expand their market position in the industry.
Author Credits: Richa Gupta
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