Global Industrial Gaskets Market- Trends, Price, Share and Growth Rate from 2018 to 2024
Industrial Gaskets Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of industrial gaskets market by 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) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the industrial gaskets market it includes the five years Industry analysis and the 6 years annual forecast from to 2024. Some of the prominent participants in the global industrial gaskets market are 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. The global industrial gaskets market is projected to grow at a CAGR of 5.4% over the forecast period of 2018-2024.
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Increasing Demand From Oil and Gas Production Related Facilities in the Gulf Countries Drives the Growth of the Industrial Gaskets Market
Increasing demand from oil and gas production related facilities in the Gulf countries drives the growth of the industrial gaskets market. In addition, increasing consumption of Polytetrafluoroethylene gaskets and stringent leakage regulations implemented by environmental protection agency to prevent damage to the environment are 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.
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Growing Number of Refineries in China, to Meet the Growing Fuel Demand is Boosting the Demand of Industrial Gasket Products in the Asia-Pacific Region
However, 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 fir the key players in the global 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 of industrial gasket products in the Asia-Pacific region.
Industrial Gaskets Market: Segmentation
The 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.
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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 applications segments to analyze the trends, developments, and forecast of market size up to 2024.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.