The Gaskets Market Report provides a detailed assessment of the market, examining size, trends, and growth opportunities. It highlights the influence of technology, consumer behavior, and competitive strategies on market evolution. The study offers a thorough analysis of leading players, their product offerings, and market positioning.
This report explores regional and application-based segmentation, identifying growth hotspots and emerging areas of opportunity. It also addresses market challenges, regulatory concerns, and potential risks, offering a realistic outlook for businesses and investors.
The global gaskets market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.4% in the forecast period of 2023 to 2030 and is expected to reach USD 29,083.60 Million by 2030. The major factor driving the growth of the Gaskets is the rising demand from the automobile industry. Industrial gaskets have wider applications in various end-use sectors expected to drive market growth.
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Gaskets seal a connection between two components, and it is used to fill the empty spaces between two surfaces, which helps to avoid leakage and wastage of fluids and gas in the application. Gaskets products are mainly used as static seals. The gaskets are specially designed depending on the type of equipment and end-use surface. Gaskets will often be cut into a specific shape to fit the component they are to be fitted to. Gaskets are made of materials such as metals, industrial-grade rubber, or a combination of both. These are generally equipped with excellent anti-chemical characteristics, anti-compressibility properties, high/low temperature and weather resistance, and superior resistance to heat, water, and abrasion. The growing demand for automotive gaskets is gaining popularity due to the demand for automobiles.
Global Gaskets Market Dynamics
Drivers
Rising demand from the automobile industry
The automobile industry has experienced the most profound upheaval in its history during the last decade. Global car sales increased to roughly 66.7 million vehicles in 2021, up from around 63.8 million units in 2020. This considerable growth in automobile and other motor vehicle sales will enhance global vehicle manufacturing, which will assist in boosting the gaskets market.
Gaskets, which are used to seal the space between two components to guarantee that there is no leakage between them during the compression stage, are a key aspect of practically all automobile engines and critical components in a vehicle. They are made of a flat, precut piece of material used to seal mating surfaces. Most vehicle engines, from cars and trucks to vans and tractor-trailers, contain gaskets. Metallic gaskets and non-metallic gaskets are the two types of automotive gaskets. Gaskets are classified into two types: contact gaskets and contactless gaskets. The head gasket, manifold gasket, and camshaft gasket are the most frequent types of gaskets used in engines.
PTFE-based gaskets are becoming increasingly popular
A PTFE gasket, also known as a polytetrafluoroethylene gasket, is a mechanical seal that fills the area between pipelining system connecting surfaces. The high melting temperature, low coefficient of friction, high corrosion resistance, high resilience, adaptability, extended product life, electrical and thermal insulation, and considerable insulating qualities are the fundamental properties that define the PTFE gasket. This increases its value as a sealing material and makes it suitable for usage in a variety of end-use sectors, including energy, chemical and petrochemical, medical and pharmaceutical, and oil and gas. PTFE gaskets aid in the smooth running of operations by reducing vibration and creating a noise-free environment. They have a low friction coefficient and are resistant to acids, bases, and solvents. Custom-engineered PTFE products may be created utilizing graphite, rubber elastomers, non-asbestos fillers, corrugated metals, and other materials. Because of these PTFE elements, new products and innovations in existing ones were created, which boosted the expansion of the gasket markets.
Industrial gaskets have wider applications in various end-use sectors
Industrial gaskets are widely used in process industries such as refineries and petrochemical plants, power generating, chemical, and mining, defense, electronic, pipeline, water treatment, and paper and pulp mills, as well as a variety of general engineering applications. It is used to prevent liquid and gas leaks, assure system safety, outstanding physical attributes, and a longer product life.
Because of their better resistance to chemicals, alkaline, acids, and others, as well as resistance to high temperatures, resistance to severe pressure, ability to survive varied conditions, and others, the need for industrial gaskets is expanding in the aforementioned industries. The growing number of refineries in emerging markets is likely to drive up demand for industrial gaskets.
Recent Development
- In May 2022, according to Statista, Asia will be home to the most functioning petroleum refineries in the world. There were 316 such facilities across the continent as of 2021. Asia also has the greatest number of refinery expansion projects in the works. There are roughly 90 refining plants in the planning or building stages, mostly driven by consumer demand from economic powerhouses such as China and India
- In June 20220, Lamons introduced the DEFENDER HF gasket, which is designed for extremely corrosive applications such as hydrofluoric acid. With this accomplishment, the organization strengthened its portfolio.
Global Gaskets Market Scope
The global gaskets market is categorized based on type and industry. The growth amongst two segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Type
- Contact Gaskets
- Contactless Gaskets
On the basis of type, the global gaskets market is classified into two segments contact gaskets, and contactless gaskets.
Industry
- Automotive
- Electrical
- Industrial Manufacturing
- Oil and gas
- Aerospace
- Marine and Rail
- Paper and Pulp Industry
- Others
On the basis of industry, the global Gaskets market is classified into eight segments automotive, electrical, industrial manufacturing, oil and gas, aerospace, marine and rail, paper and pulp industry, and others.
Competitive Landscape and Global Gaskets Market Share Analysis
The global gaskets market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies focus on the global gaskets market.
Some of the major players operating in the global gaskets market are Freudenberg FST GmbH, IDT GmbH, SSP Manufacturing Inc., A.J. Rubber & sponge Ltd, BRUSS Sealing Systems GmbH, ElringKlinger AG, Garlock, an Enpro (NYSE: NPO) Company, Lamons LGC US Asset Holdings, LLC, Trelleborg AB, W. L. Gore & Associates, Inc., Seal & Design Inc., GE MAO RUBBER INDUSTRIAL CO., LTD., HELIX ENGINEERING, The Topog-E Gasket Co, and OHIO VALLEY GASKET INC., among others.
Key Report Insights
Market Size and Forecasts
Industry Trends and Drivers
Competitive Landscape and Strategies
Segmentation by Type, Application, and Geography
Consumer Behavior Analysis
Regional Market Performance
Report Structure
Introduction and Methodology
Market Overview and Dynamics
Segmentation and Sizing
Competitive Analysis
Opportunities and Recommendations
Regional Insights
Future Outlook
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