Flanges market projected to reach $10.58 billion globally by 2031, driven by industry growth

From GlobeNewswire: 2025-01-09 07:35:00

The global Flanges Market is forecasted to grow at a CAGR of 4.5% from 2021 to 2031, with key players like AFG Holdings, Armetal Stainless Pipe, and Sandvik AB leading the industry. Flange manufacturers are focusing on research and development to improve performance and durability, especially in industries like oil & gas and food & beverages.

The demand for flanges is being driven by the rise in investment in oil and gas infrastructure, the construction of new offshore facilities, and the growth of the food & beverages industry. In regions like Asia Pacific and Europe, the need for water management facilities and exploration activities in the oil & gas sector are boosting the flanges market.

Key players in the flanges market are adopting strategies like new product launches and geographical expansions to stay competitive. Recent developments include strategic alliances and major orders for supplying line pipes in the oil and gas sector. The focus is on improving energy efficiency, material technology, and integrating digital technologies to enhance flanges performance.

To stay updated on the latest trends in the Flanges Market and access detailed insights, visit the link provided. The industry is witnessing growth in various sectors, with a focus on sustainability and efficiency driving innovation and market expansion. For further information, reach out to the contact person provided in the press release for inquiries or assistance.



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