Pipe Flanges Global Market Opportunities and Strategies to 2033

This report describes and explains the pipe flanges market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global pipe flanges market reached a value of nearly $4.9 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.52% since 2018. The market is expected to grow from $4.9 billion in 2023 to $6.7 billion in 2028 at a rate of 6.30%. The market is then expected to grow at a CAGR of 6.80% from 2028 and reach $9.3 billion in 2033.

Growth in the historic period resulted from the surge in oil and gas exports, growth of the steel industry, strong economic growth in emerging markets and increased production and consumption of chemicals. Factors that negatively affected growth in the historic period were the rise in material costs and economic instability.

Going forward, the rising demand for raw materials from the manufacturing industries, rising urbanization and growth in the petroleum industry will drive the market. Factors that could hinder the growth of the pipe flanges market in the future include disruptions in supply chain and increasing warehousing costs.

The pipe flanges market is segmented by material into carbon steel, stainless steel, alloy steel, cast iron, PVC (polyvinyl chloride) and other material. The stainless-steel market was the largest segment of the pipe flanges market segmented by material, accounting for 33.31% or $1.6 billion of the total in 2023. Going forward, the PVC segment is expected to be the fastest growing segment in the pipe flanges market segmented by material, at a CAGR of 7.58% during 2023-2028.

The pipe flanges market is segmented by facing type into raised face, flat face, ring joint and lap joint. The raised face market was the largest segment of the pipe flanges market segmented by facing type, accounting for 49.52% or $2.4 billion of the total in 2023. Going forward, the ring joint segment is expected to be the fastest growing segment in the pipe flanges market segmented by facing type, at a CAGR of 7.33% during 2023-2028.

The pipe flanges market is segmented by end-use industry into oil and gas, chemicals and petrochemicals, power generation, construction and other industries. The oil and gas market was the largest segment of the pipe flanges market segmented by end-use industry, accounting for 34.96% or $1.7 billion of the total in 2023. Going forward, the construction segment is expected to be the fastest growing segment in the pipe flanges market segmented by end-use industry, at a CAGR of 7.20% during 2023-2028.

Asia-Pacific was the largest region in the pipe flanges market, accounting for 34.46% or $1.7 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the pipe flanges market will be North America and Western Europe, where growth will be at CAGRs of 7.50% and 6.36% respectively. These will be followed by Eastern Europe and Africa, where the markets are expected to grow at CAGRs of 6.12% and 5.60% respectively.

The global pipe flanges market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 15.12% of the total market in 2022. MRC Global Inc. was the largest competitor with a 10.96% share of the market, followed by ASC Engineered Solutions with 2.35%, Echjay Forgings Pvt. Ltd. with 0.53%, Maass Flange Corporation with 0.30%, Federal Flange Inc. with 0.28%, Weldbend Corporation with 0.21%, Coastal Flange Inc. with 0.13%, Ulma Forja S.Coop with 0.128%, Dynamic Forge & Fittings Pvt. Ltd. with 0.12% and Texas Flange Fitting Supply Inc. with 0.11%.

The top opportunities in the pipe flanges market segmented by material will arise in the stainless-steel segment, which will gain $566.64 million of global annual sales by 2028. The top opportunities in the pipe flanges market segmented by facing type will arise in the raised face segment, which will gain $864.3 million of global annual sales by 2028. The top opportunities in the pipe flanges market segmented by end-use industry will arise in the oil and gas segment, which will gain $603.32 million of global annual sales by 2028. The pipe flanges market size will gain the most in the USA at $486.67 million.

Market-trend-based strategies for the pipe flanges market include focus on advancements in stainless steel seals to replace existing gasket technology, focus on launching new solutions with innovative designs, such as water-shedding designs, focus on developing flanged double offset ball valves for diverse applications, focus on strategic partnerships and collaborations to expand geographical presence and product portfolio and focus on using bio-attributed materials to enhance sustainability.

Player-adopted strategies in the pipe flanges market include focus on improving portfolio through agreements and partnerships, mergers and acquisitions and offering new products and delivering high-quality products and exceptional customer service.

To take advantage of the opportunities, the analyst recommends the pipe flanges companies to focus on water-shedding flange designs for versatile solutions, focus on flanged double offset ball valves for enhanced performance, focus on sustainability with bio-attributed materials, focus on stainless steel and pvc market segments, focus on raised face and ring joint market segments, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships for sustainable growth, provide competitively priced offerings, continue to use B2B promotions and focus on oil and gas and power generation segments.