Square flanges are widely used in plumbing systems to connect the pipe to a pipe / pipe connection with component. The flanges are manufactured according to different standards depending on the country; these flanges are also available in different pressure ratings to meet their purpose. Square flanges are commonly requires for such industries including plumbing activities, oil & gas industry for pipe connections, petrochemical industries and water channels.
Square flanges provide easy access for inspection, cleaning or modification, gaining ground among chemical processes, oil and gas, petrochemical industries. Due to their advantages, scope of square flanges is increasing and thus driving the growth of square flanges market. In addition to this, government investments and growing nuclear power activities are expected to increase the implementation of advanced connector pipe products and will provide many growth opportunities for players operating in the square flange market.
As per analysis, “Global Square Flanges Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027” the key companies operating in the global square flanges industry include Rexino Stainless & Alloys, SP Metals, Kalikund Steel & Engineering Company, Piyush Steel, Kamlesh Metal, Metal Udyog, Fit-Wel Industries, Kanak Metal, Guru Gautam Steels, Rajendra Industrial Corporation and among others. Major manufacturers are implementing new manufacturing techniques and using new materials to produce lightweight flanges with the goal of reducing the overall mass of the vehicle.
By type, square flanges market is split into SHB, SHAB and LSA. In addition, by application, market is split into oil & gas, shipbuilding, petrochemical, chemical processing, nuclear power, and others. The petrochemical industry is expected to develop rapidly as the use of flanges in this industry can provide several advantages for valve measuring devices and also for separating pipe segments.
Growth of automotive and oil & gas industries, followed by increase in construction activities, rapid industrialization, increase in wastewater management activities and rise in use in airline, tourism and transportation industries are some major factors, which are responsible for growth of the Global Square Flanges Market. Apart from this, leakages due to gasket fail may impact the market. Moreover, growth of automotive industry caused by factors of rise in disposable income and growth in population around the world is projected to provide lucrative opportunities for global market.
Based on regional analysis, the Asia-Pacific is a leading region in global square flanges market owing to growth in production of automotive vehicles and presence of large number of manufacturers across the region. The North-America and Europe regions are projected to witness higher CAGR due to growth in consumption of oil over the forecast period. A strong expansion of the petrochemical industry in the United States, triggered by the increase in exploration and production of crude oil in the country, is one of the vital factors influencing the demand for crude oil in the region. It is anticipated that global square flanges market will be reached at rapid pace because of rise in power generation activities coupled with growth in oil & gas industry during the forecast period.
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Global Square Flanges Market Analysis 2021
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