Spectacle Flanges Market 2024-2028: Size and Sluggish steel demand and decline in steel capacity utilization; growth driven by the Application, Some of key Companies Positioned Strategically

The spectacle flanges market size by Application (Oil and gas, Water and wastewater management, and Others) and Geography (APAC, Europe, North America, Middle East and Africa, and South America), is forecast to increase by USD 201.2 million. The market is expected to grow at a CAGR of  over 3.27% between 2024 and 2028.

• The global economic downturn over the past five years has led to a subdued growth in steel demand, negatively impacting the consumption of spectacle flanges in various sectors. While developed countries exhibit signs of recovery and growth, China, the world's leading steel producer, is transitioning from an investment-driven economy to a consumption-based one, causing uncertain demand. Additionally, political instability and volatile financial markets in emerging economies pose challenges to the spectacle flanges market. Furthermore, steel manufacturers face significant production capacity excesses, intensifying market competition and price pressures.
• The Spectacle Flanges Market represents a significant business opportunity for manufacturers and suppliers due to its essential role in various industries, including oil and gas, chemical processing, and power generation. These flanges are crucial components for maintaining system integrity and ensuring safe and efficient operations. Market growth is driven by factors such as increasing infrastructure development, stringent regulatory requirements, and the ongoing shift towards more sustainable energy solutions.

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Some of the Key Companies:

• Aashish Steel
• Bolton Engineering
• Buffalo Flange Inc.
• Chengdu Derbo Steel Co. Ltd.
• KLINGER Ltd.
• M P Jain Tubing Solutions LLP
• Neo Impex Stainless Pvt. Ltd.
• Nexus Alloys and Steels Pvt. Ltd.
• Petromat Oil and Gas
• Prosaic Steel and alloys
• Quality Forge and Fitting
• Raaj Sagar Steels
• Rajendra Industrial Corp.
• Rolled Alloys Inc.
• Shanxi Donghuang
• Special Flange Services Ltd.
• Texas Flange
• Unifit Metalloys Inc.
• USA Industries Inc.
• Veritas Stainless Co. Pvt. Ltd.

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Jesse Maida
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