Global Flange Fasteners Market to Record Robust Growth Rate in the Next 10 Years After the End of COVID-19 Crisis and Forecast 2019-2029
Flange Fasteners Market: Introduction:
Flange fasteners are clamping devices for the fixation of flanges to each other on a pipeline. The overall flange fasteners market consist of bolts and nuts which are used for the fastening of flanges on a pipeline or equipment. The continuous development of the EPC (Engineering, Procurement, and Construction) projects among all the key regions and countries is estimated to be one of the most prominent drivers for the global flange fasteners market. Fluid pipelines are considered as the primary unit of any equipment, and the flange fasteners are the set of parts to connect the flanges of the several types of equipment and other tools with each other.
Flange Fasteners include fastening devices such as nuts, bolts, washers, rivets, threaded rods, grub screws, etc. One of the most important functions of flange fasteners is to fix the flanges of different equipment and then hold them together while the system is in operation. Most importantly, when the system is under full load the flange fastener should be able to handle the pressure and stress.
The manufacturers in the global flange fasteners market must strictly adhere the production standards as the safety of any system will always depend on the type and the strength of the flange fasteners. There are several types of flange fasteners available in the global market, whose usage varies according to the application, size, weight capacity and material of construction. The increasing industrial infrastructure, as well as the maintenance & repair of the existing systems, is projected to be one of the most significant driving factors for the global flange fasteners market over the forthcoming years.
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Flange Fasteners: Market Dynamics
Industrial spending is estimated to grow significantly over the forthcoming years, due to the increasing demand for transportation of fluids through pipelines and their associated processes in several equipment. For instance, MEA is projected to experience a prominent growth rate in terms of industrial infrastructure in the coming years. Furthermore, Asia Pacific remains the largest market in terms of industrial activities especially the processing industries with increasing investments towards the development of the pipeline infrastructure in the region. These factors are estimated to create lucrative growth opportunities for the flange fasteners market in the coming decade.
The use of flange fasteners in the pipeline market for providing excellent connection between flanges are become a key necessity, although the regular check and maintenance is required for efficient operation of the whole system. Hence this increases the operational and maintenance cost of the manufactures and the end users in the global market.
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Flange Fasteners Market: Regional Outlook:
Strict rules and regulation for the safety of equipment and working personnel across the globe has increased the demand of flange fasteners in all the key regions which in turn is estimated to fast-track the flange fasteners market growth in the near future. Growing use of pipelines for transportation of various fluids in prominent regions such as North America, Europe and Japan is increasing the growth of all associated end user industries and this is projected to propel the flange fasteners market in this region. Emerging countries of Latin America and Middle East Africa is expected to cover the significant market value share in the global flange fasteners market over the estimated period.
Flange Fasteners Market: Segmentation:
The Flange Fasteners market can be segmented on the basis of product type, speed, rail type
On the basis of material type, Flange Fasteners market can be segmented as
- Stainless Steel
- Cast Iron
- Others (Composites, Alloys)
On the basis of type, Flange Fasteners market can be segmented as
- Nut
- Bolts
- Screws
- Grub Screws
- Others (Rivets, Socket Cap Screws, etc.)
On the basis of end user, Flange Fasteners market can be segmented as
- Automotive
- Chemical
- Oil & Gas
- Energy
- Pharmaceutical
- Defense & Aerospace
- Construction
- Food & Beverage
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Flange Fasteners Market: Key market participants:
Examples of some of the market participants in the global flange fasteners market identified across the value chain include:
- Fastenal Company
- Wilhelm Bollhoff GmbH und Co. KG
- STANLEY Engineered Fastening
- Locknut Technology
- Jergens Inc.
- KMT Fasteners
- K.M Steel India
- FULLER
- Ramco Specialties
- Jeng Bright International Corporation
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