Selbyville, Delaware, May 23, 2023 (GLOBE NEWSWIRE) --
Gaskets Market is expected to cross a valuation of USD 14 billion by 2032, according to the latest research report by Global Market Insights Inc.
The surging industrialization is the prominent factor boosting industry growth. Gaskets are essential components in a range of industry verticals, including oil and gas, chemical processing, power generation, automotive, aerospace, and construction. The expanding industrial infrastructure in developed and developing economies across the globe has fostered the demand for gaskets. Moreover, new product innovations are further contributing to market development. Many gasket manufacturers are focusing on using advanced materials, such as high-performance elastomers, composite materials, and metal alloys, which offer improved sealing properties, chemical resistance, and durability.
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Superior sealing performance of metallic gaskets to favor their adoption
The metallic gaskets market will expand notably through 2032. Metallic gaskets offer high-temperature and pressure resistance, excellent sealing performance, chemical compatibility, longevity, load-bearing capacity, and a wide range of material options. These advantages make them a preferred choice for critical sealing applications in industries that require reliable and durable gasket solutions. Moreover, metallic gaskets made of certain alloys provide fire resistance properties, which makes them suitable for applications where sealing against high-temperature environments or fire hazards is necessary, such as in the oil and gas industry.
Spiral wound gaskets demand to grow due to exceptional durability
The spiral wound gaskets industry size will grow considerably from 2023 to 2032. Spiral wound gaskets are designed to withstand repeated compressive loads and flange cycling without significant loss of sealing performance. Owing to the superior durability of spiral wound gaskets, they maintain their integrity even under demanding conditions. This longevity reduces the need for frequent gasket replacements, saving time and maintenance costs. Additionally, their high availability in various sizes, materials, and configurations to accommodate different flange designs and dimensions favors their adoption.
Flourishing chemical processing sector to support product uptake
The gaskets market share from the chemical processing segment will register huge gains through 2032. Gaskets are commonly used to seal flange connections in chemical processing equipment, including pipelines, valves, pumps, and reactors. They ensure a tight seal between mating flanges, preventing leakage of hazardous or corrosive chemicals and maintaining the integrity of the system. Additionally, they are used to seal the joints and access points of tanks, vessels, and storage containers in chemical processing plants. Expanding chemical processing sector will favor segment growth.
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North America to dominate the gaskets sector
North America gaskets industry will witness notable gains through 2032. The growing chemical processing industry, coupled with a strong presence of manufacturing companies in the region, is creating a strong impetus for product adoption. Moreover, the region is also home to key industry players such as Dana Incorporated, Olin J. Garlock, and others constantly focusing on new product innovations to enhance their industry position.
Leading industry players in the business landscape
James Walker Group Ltd., Freudenberg Sealing Technologies, ElringKlinger AG, Trelleborg AB, Garlock Sealing Technologies LLC, SKF AB, and Dana Incorporated, among others
Gaskets Industry News:
- In August 2022, Trelleborg AB, a global engineering group focused on polymer technology, announced the release of HMF FlatSeal™, its latest range of flat gasket materials useful for static sealing in low and high-temperature applications.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Gaskets industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Material type trends
2.5 Product type trends
2.6 End-use trends
Chapter 3 Gaskets Industry Insights
3.1 Impact of COVID-19 outbreak
3.2 Impact of Russia Ukraine war
3.3 Gaskets industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Pricing analysis
3.8 Regulatory landscape
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.1.1 Increasing demand from refining industry
3.9.1.2 Surging chemical production to boost the demand
3.9.2 Industry pitfalls & challenges
3.9.2.1 Volatility of raw material prices
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
