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Gaskets Market Analysis

Report ID: GMI5681
Published Date: May 2023
Report Format: PDF

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Gaskets Material Market Analysis

Global Gaskets Market, By Material Type, 2021-2032, (USD Billion)

Semi-metallic material production is primarily fuelled by the expanding demand from the pulp & paper, food & pharmaceutical, industrial equipment, and chemical processing industries. Applications requiring medium and high pressure can use these gaskets. These gaskets are used for semi-metallic industrial gaskets, corrugated, spiral wrapped, and jacketed.

The soft gaskets market is expected to capture significant industry share during 2023-2032. This is due to the fact that it is the most favoured product type across a range of end-use sectors, including chemical processing. It also has the benefit of being less expensive than alternative gaskets. A wide range of elastomers, polytetrafluoroethylene, compressed non-asbestos, high-temperature sheet goods, and flexible graphite, are available for use as soft gasket materials. Applications for these gaskets include pipe flanges, compressors, heat exchangers, and bonnet valves. A soft gasket material is offered in sheets or rolls or can be ordered in a variety of cut forms.

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Based on end-use the market is segmented as refineries, power generation, chemical processing, industrial machinery, pulp & paper, food & pharmaceutical, and others. To stop the leakage of dangerous media in high temperature and high pressure settings, gaskets are utilised in essential sealing applications in the refining sector. Industrial gaskets are widely utilised in the refining sector to offer dependable sealing and comply with regulatory leakage standards. Their usage also improves operational effectiveness by decreasing costs for upkeep, supervision, and repairs.

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Asia Pacific was the largest industry for gaskets in 2022 and is predicted to be the fastest-growing market during 2023-2032. The expansion of end-use industries in the region is what primarily drives the APAC gaskets market. Future business trends will be greatly influenced by laws, raw material availability, and investments in end-use industries. The regional industry is being driven by the rising demand for industrial gaskets from application sector as a result of the region's expanding population, urbanisation, and energy needs. The industrial gaskets sector is also expanding quickly in China as a result of the strong demand from the chemical and refining sectors.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of gaskets exceeded USD 8.7 billion in 2022 and is projected to register 4.8% CAGR during 2023 to 2032, driven by the expanding oil refinery industry.

The semi-metallic material segment registered significant growth in 2022 and is poised to grow at a robust pace through 2032, fueled by the escalating demand from the pulp & paper and food & pharmaceutical sectors.

APAC gaskets industry held the largest revenue share globally in 2022 and is expected to be the fastest-growing market by 2032 attributed to the rapid expansion of end-use industries in the region.

Klinger, Freudenberg Sealing Technologies, SKF AB, ElringKlinger AG, Dana Incorporated, Trelleborg AB, Flexitallic Group, Garlock Sealing Technologies LLC, James Walker Group Ltd., and Smiths Group plc are some the top manufacturers of gaskets.