Our latest research report entitled Industrial Gaskets Market (by product type (ring joint gaskets, kammprofile gaskets, spiral wound gaskets, soft gaskets, jacketed gaskets, corrugated gaskets, and other gaskets), end-user (power generation, industrial machinery, chemical processing, refineries, pulp & paper, food & pharmaceuticals, and others)) provides complete and deep insights into the market dynamics and growth of Industrial Gaskets.
Latest information on market risks, industry chain structure Industrial Gaskets cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Industrial Gaskets growth factors.
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Increasing demand from oil and gas production-related facilities in the Gulf countries drives the growth
Gaskets are primarily used to fill empty spaces between the coupling surfaces to avoid leakage and wastage of fluids and gases. Gaskets are usually produced by cutting sheet materials. Most industrial gasket involve bolts exerting compression well into the 14 MPa (2000 psi) range or higher. Silicone and rubber are the most preferred material used for manufacturing gaskets due to their superior characteristics including high reliability, better strength, high flexibility, and resistance to high heat and pressure.
Increasing demand from oil and gas production-related facilities in the Gulf countries drives the growth of the industrial gaskets market. In addition, increasing the consumption of Polytetrafluoroethylene gaskets and stringent leakage regulations implemented by the environmental protection agencies to prevent damage to the environment is strengthening the growth of the market.
With the increase in industrial development and urbanization, there has been a considerable rise in the number of manufacturing plants, machineries, automobiles, and various other mechanical instruments which use a gasket. This has had a positive impact on market growth. In automobiles, gaskets are widely used for propelling to avoid leakage or wastage of expensive fluids or gas. Due to their property to sustain extreme pressure conditions, compressive loads, and heat, gasket have noteworthy scope across different industry verticals.
However, the price volatility of raw materials such as rubber, silicone, graphite, and so on are curtaining the growth of the industrial gaskets market. Furthermore, the increasing number of refineries in the Asia Pacific region is further anticipated to create several growth opportunities for the key players in the global gaskets market.
Asia-Pacific dominates the global industrial gaskets market
Among the region, Asia-Pacific dominates the global industrial gaskets market followed by North America and expected to grow with CAGR of 6.02 % over the forecast period. The continuously increasing wind power installation in the Asia-Pacific is helping to grow the demand for the different types of gasket market in this region. China is the major consumer and exporter of gaskets products in the world. The growing number of refineries in China, to meet the growing fuel demand is boosting the demand for industrial gasket products in the Asia-Pacific region.
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Report on Global Industrial Gaskets Market Covers Segments Such as Product Type and End-User
On the basis of product type, the sub-markets include ring joint gaskets, kammprofile gaskets, spiral wound gaskets, soft gaskets, jacketed gaskets, corrugated gaskets, and other gaskets. On the basis of end-user, the sub-markets include power generation, industrial machinery, chemical processing, refineries, pulp & paper, food & pharmaceuticals, and others.
The report provides profiles of the companies in the market such as Flexitallic, W. L. Gore & Associates, Inc., Klinger Limited., Garlock Sealing Technologies, Lamons, Hennig Gasket & Seals Inc., James Walker, Spira Power, Donit Tesnit D.O.O, Henning Gasket & Seals Inc, and Teadit.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/industry-automation/global-industrial-gaskets-market
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- Comprehensive analysis of global as well as regional markets of the Industrial Gaskets.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.
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- The company profile includes analysis of product portfolio, revenue, SWOT analysis, and the latest developments of the company.
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