The Global Industrial Gasket Market is estimated to reach USD 11.6 Billion by 2024 at a CAGR of 5.4 %.
Industrial gaskets are sealing materials placed between the connecting flanges which will help to maintain the leakage proof sealing in all the operations by creating a static seal. The primary function of gaskets is to retain the internal pressure and prevent the liquids, gases, and contaminants to escape from the assemblies in the industries. The Asia Pacific is one of the fastest growing regions in the industrial gasket market owing to factors such as stable economic growth, increased consumption of manufactured goods, continuous technology innovation, and expanding manufacturing base, amongst others.
Market Drivers:
Industrialization in emerging countries has resulted in a considerable rise in the number of manufacturing plants, machinery, and various other mechanical instruments that are expected to boost the demand for industrial gasket during the forecasted period. The need to improve the performance and efficiency of engineered products is boosted by industrial gaskets. In emerging markets such as China, India, Brazil, and Russia, various industries are growing at a steady pace which will boost the growth of the product market. For Instance, Brazil is one of the emerging economies in South America where chemical processing, petroleum production, and cement making are some of the industries which may boost the product market growth.
According to Organization of the Petroleum Exporting Countries (OPEC), the OPEC member countries have 1,189.8 million barrels curde oil resreves. Countries producing crude oil have been adopting best practices in the industry, realizing intensive explorations and enhanced recoveries. Industrial gaskets are been used in pipes used for oil & gas production and transportation which avoids leakages and any harm to human and environment. The gaskets helps to achive the reliable seal to prevent the leakages from the flange joints. Thus, the demand for industrial gasket form oil & gas production in GCC countries is expected to surge the product market growth.
Market Restraints:
Raw materials used for the manufacturing of gaskets are rubber, silicone, metal, fiberglass, plastic polymer, and neoprene among others. These raw materials are available in abundant in some regions while other countries are relay on imports from these countries. For instance, steel is one of the metals used for the manufacturing of gaskets which is majorly produced in China, Japan, and India. Thus, it may result in the surplus or shortage of the commodity in specific regions resulting in fluctuation in the raw material prices which in turn may hinder the growth of the product market.
The report on the Industrial Gasket market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
|---|---|
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Historical/Estimated/Forecasted Market Size Years |
2017-2024 |
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Base Year for Market Calculation |
2018 |
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Forecasted Period |
2019-2024 (2019 estimated year, forecasted up to 2024) |
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Measured Units |
Value (USD Million), Volume (Units) |
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Segments Included |
Product Type, Application, Construction Type End User and Region |
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Regional Coverage |
Asia-Pacific, North America, Europe, Middle East & Africa, and South America |
For the scope of report, In-depth segmentation is offered by Forencis Research
Industrial Gasket Market, by Material Type
Industrial Gasket Market, by Product Type
Industrial Gasket Market, by Application
Industrial Gasket Market, by Region
1 INTRODUCTION
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
1.6 Assumptions
1.7 Limitations
2 RESEARCH DESIGN & SCOPE
2.1 Introduction
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Introduction
4.2 Drivers
4.2.1. Rising Industrialization in Emerging Economies
4.2.2. Growing Demand from Oil & Gas Production Related Facilities in GCC Countries
4.3 Restraints
4.3.1. Volatile Raw Material Price
4.4 Opportunities
4.4.1. Growing Number of Refineries
4.5 Challenges
4.5.1 Consumption of Low-Cost Asbestos-Based Gaskets
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1 Introduction
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 INDUSTRIAL GASKET MARKET BY MATERIAL TYPE, Market Size in USD Million (2017—2024)
6.1 Introduction
6.2 Non-Metallic
6.3 Semi-metallic
6.4 Metallic
7 INDUSTRIAL GASKET MARKET BY PRODUCT TYPE, Market Size in USD Million (2017—2024)
7.1 Introduction
7.2 Soft Gasket
7.3 Corrugated Gasket
7.4 Spiral Wound Gasket
7.5 Ring Joint Gasket
7.6 Camprofile Gasket
7.7 Others
8 INDUSTRIAL GASKET MARKET BY APPLICATION, Market Size in USD Million (2017—2024)
8.1 Introduction
8.2 Refineries
8.3 Food Processing Industries
8.4 Power Plants
8.5 Chemical Processing
8.6 Industrial Machinery
8.7 Others
9 INDUSTRIAL GASKET MARKET BY REGION, Market Size in USD Million (2017—2024)
9.1 North America
8.1.1. US
8.1.2. Canada
8.1.3. Mexico
9.2 Europe
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. UK
8.2.5. Russia
8.2.6. Spain
8.2.7. The Netherlands
8.2.8. Rest of Europe
9.3 Asia-Pacific
8.3.1. China
8.3.2. Japan
8.3.3. India
8.3.4. South Korea
8.3.5. Taiwan
8.3.6. Rest of Asia-Pacific
9.4 Middle East & Africa
8.4.1. Saudi Arabia
8.4.2. UAE
8.4.3. Rest of Middle East
9.5 South America
8.5.1. Brazil
8.5.2. Argentina
8.5.3. Rest of South America
10 COMPETITIVE LANDSCAPE
10.1 Introduction
10.2 Market Ranking/Share Analysis of Key Companies
10.3 Company Benchmarking
11 COMPANY PROFILES
11.1 Klinger Limited
11.1.1 Company Overview
11.1.2 Financial Overview
11.1.3 Products/Solutions/Services Offered
11.1.4 Key Developments
11.1.5 SWOT Analysis
11.2 Gardico
11.3 Spira Power
11.4 Klinger Limited
11.5 James Walker
11.6 Flexitallic
11.7 GARLOCK (ENPRO INDUSTRIES, INC.)
11.8 Teadit
11.9 GTeek Ltd. (Temac)
11.10 Talbros
11.11 Centauro Srl
11.12 Other Key Companies
12 APPENDIX
12.1 Key Industry Expert Insights
12.2 Primary Discussion Guide
12.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
