Industrial Gaskets Market To Expand Lucratively With USD 14.1 Bn Earnings By 2028

21-Dec-2021 | Zion Market Research

As per study of Zion Market Research, Industrial Gaskets industry amassed proceeds worth nearly US$ 9.1 billion in 2020 and is anticipated to accrue returns of approximately US$ 14.1 billion by 2028. Moreover, Industrial Gaskets market is prognosis to record CAGR of almost 5.7% in 2021-2028. Massive demand for industrial gaskets as heat-exchanger in oil & gas, chemical processing firms, and refineries will steer growth of industrial gaskets market. Apart from this, strict laws implemented by environmental authorities pertaining to leakage issues will culminate into humungous growth of industrial gaskets industry. Additionally, rise in production of hydrocarbons in Asia and middle-east countries will create new growth opportunities for industrial gaskets market. Large-scale use of industrial gaskets in myriad equipment such as automotive devices, aerospace instrument, food equipment, electrical device, pharmaceutical devices, marine equipment, petrochemical devices, and water equipment will drive market trends. Nonetheless,      use of low priced asbestos-based gaskets in developing countries can curtail growth of industrial gaskets market.

Soft Gaskets To Lead Product Type Segment Growth Over 2021-2028

Growth of soft gaskets segment over assessment period is owing to large-scale use of soft gaskets in chemical processing and other end-user industries. Moreover, these products are utilized in a slew of applications like compressors, bonnet valves, pipe flanges, and heat exchangers. In addition to this, these products are available in myriad forms such as sheets and rolls as well as other cut shapes, thereby steering demand for these products.

Semi Metallic Material To Dominate Material Type Segment By 2028

Segmental expansion over forecast period can be credited to surge in demand for semi metallic material in chemical processing, pulp & paper, food & pharmaceuticals, and industrial machinery sectors. Moreover, this material is fit for medium as well as high pressure apps. Additionally, products such as spiral wound gaskets, kammprofile gaskets, corrugated gaskets, and jacketed gaskets.

Refineries Segment To Contribute Majorly Towards Industrial Gaskets Market Revenue By 2028

Growth of refineries segment over anticipated timeframe is subject to rise in utility of industrial gaskets in high temperature & pressure applications in refineries. Apart from this, these products are also used in sealing equipment for preventing leakages in refineries. This, in turn, will translate into humungous segmental growth over coming years. In addition to this, application of industrial gaskets in refineries improves operational efficacy and reduces expenses incurred due to maintenance, repair, and monitoring activities.  

North America To Account Majorly Towards Regional Market Share By 2028

Growth of industrial gaskets market in North America over 2021-2028 can be attributed to massive product penetration in power, oil & gas, chemical, and paper & pulp industries in region. Apart from this, surge in funding of R & D projects by many of the industry players for developing green products in countries such as the U.S. will drive regional market growth. Presence of giant manufacturers in region will enlarge scope of market growth in sub-continent.

Some of the key players have strongly influenced market elevation and will continue to do so even in near future. They are Garlock Sealing Technologies, Inc., James Walker & Co., Denver Rubber Company, W. L. Gore & Associates, Lamons, Hennig Gasket & Seals, Inc., Teadit N.A., Inc., Klinger Limited, Spira Power Gasket Manufacturing LLC,  Flexitallic L.P., and Spitmaan.

Browse the full Industrial Gaskets Market- By Product Type (Spiral Wound Gasket, Soft Gasket, Kammprofile Gasket, Ring Joint Gasket, Corrugated Gasket, And Jacketed Gasket), By Material Type (Semi-Metallic, Non-Metallic, And Metallic), By End-User (Power Generation, Refineries, Chemical Processing, Pulp & Paper, Industrial Machinery, Food & Pharmaceuticals, Wastewater Treatment, And Textiles), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/industrial-gaskets-market

The global Industrial Gaskets Market is segmented as follows:

By Product Type

  • Spiral Wound Gasket
  • Soft Gasket
  • Kammprofile Gasket
  • Ring Joint Gasket
  • Corrugated Gasket
  • Jacketed Gasket

By Material Type

  • Semi-Metallic
  • Non-Metallic
  • Metallic     

By End-User

  • Power Generation
  • Refineries
  • Chemical Processing
  • Pulp & Paper
  • Industrial Machinery
  • Food & Pharmaceuticals
  • Wastewater Treatment
  • Textiles

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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