Flanges Market Expected to Witness a Sustainable Growth over 2019 to 2027
Verfasser: ashwani_kailiya on Tuesday, 23 June 2020Global flanges market is set to grow at a promising CAGR of over 5%, reaching a value of US$ 7 Bn by the 2027-end, according to a new Fact.MR study. Flanges market players need to focus their efforts towards the development of high efficiency offerings along with customer service facilities.
“The flanges market continues to gain momentum as lightweighting and fuel-efficiency gain center stage. In addition to the evolving regulations, the emergence of carbon-conscious consumers is also providing impetus to market growth,” says the Fact.MR report.
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Flanges Market: Key Findings
Increasing demand from petrochemical industry is sustaining growth
Adoption of flanges in renewables energy sector remains an exciting prospect
Stainless steel flanges remain the bestselling variant, owing to their superior features
Asia Pacific is the largest market for flanges, accounting for nearly one-third revenue share
Flanges Market: Key Driving Factors