Global Industrial Gasket Market Bwc20093

Global Industrial Gasket Market By Material Type (Semi-Metallic, Non-Metallic, and Metallic), by Product Type (Soft Gasket, Spiral Wound Gasket, Ring Joint Gasket, and Other Gasket), By End User (Power Generation, Industrial Machinery, Chemical Processing, Refineries, Pulp & Paper, Food & Pharmaceuticals, and Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2016-2026
- Published Date: July 2020
- Report ID: BWC20093
- Available Format: PDF
- Page: 171
Report Overview
Global Industrial Gasket
Market that has gained momentum in recent years with a CAGR of 5.43%, is
expected to touch the milestone of USD 15.18 Billion in value terms over the
forecast period 2020-2026.
With the rapid growth
noticed in global industrialization and urbanization, demand for automobiles,
manufacturing plants and various mechanical instruments that use gaskets and
seals has advanced dramatically. The gaskets of different diameters
ranging between 5 mm to 5000 mm are widely used in multiple industries. They
include industrial metallic gaskets, spiral-wrapped metallic gaskets, PTFE
sheet gaskets, graphite gaskets, ring gaskets, cut gaskets, cut gaskets,
compressed non-asbestos joints, PTFE (Polytetrafluoroethylene) sheet gaskets,
etc.
Global Industrial Gasket Market Overview
Industrial gaskets are typically used to fill the empty spaces between the connecting surfaces to avoid leakage and fluid and gas wastage. It also helps to maintain the pressure and avoid contamination from the external condition. They are generally made of flexible material like rubber, paper, or cork. They are used in electrical equipment manufacturing such as cars, aircraft, vessels, ships, pumps, etc.
Global Industrial Gasket Market Assessment and Trends
Growth drivers
Ø Extensive Use of Industrial Gaskets in Several End-Use
Industries
Industrialization leading
to a significant increase in the number of manufacturing plants, machinery, and
various other mechanical instruments in developing countries, is expected to
fuel the demand for industrial gasket over the period under study. Industrial
gaskets augment the performance and quality of engineered goods. Various
industries are expanding steadily in emerging markets of China, India, Brazil,
and Russia, which will promote product market growth. For instance, in South
America, Brazil is one of the emerging economies where chemical processing,
petroleum production, and cement manufacturing industries that have the
potential to become significant gasket users are witnessing expansion.
Ø Growing Demand from Oil & Gas Production Related Facilities
in GCC Countries
OPEC member countries
have 1,189.8 million barrels of crude oil reserves, according to the
Organization of the Petroleum Exporting Countries (OPEC). Countries that
produce crude oil have implemented industry best practices, performed extensive
explorations, and made recoveries. The gaskets help to fasten the reliable seal
on the flange joints for blocking leakages. Industrial gaskets are used in oil
& gas production and transportation pipes to prevent leakage and to avoid
harm to people and the environment. As a result, demand for an industrial
gasket for the production of oil & gas in GCC countries is expected to
receive the boost.
Restraints
Ø Raw material price volatility
Ø The raw materials used to produce the gaskets include rubber,
fiberglass, plastic polymer, silicone, metal, and neoprene. In some regions,
these raw materials are available in abundance, while other countries rely on
imports from those countries. Steel, for example, is one of the metals used in
manufacturing gaskets. It is mostly produced in China, Japan, and India.
Therefore, it may lead to its surplus or deficit in specific regions causing
fluctuations in the prices of raw materials, which, in effect, may hamper
product market development.
Ø Impact of COVID-19 in industry
Ø The global economy and the entire human race have been pushed into a COVID-19 pandemic-generated crisis in current times. The uncertainty surrounding this situation clouds the insights or projections related to any industry as no one can predict how the future recovery might unfold. Several hard-pressed manufacturing companies may get funding from government stimulus. But still, they run a substantial risk and may end up facing bankruptcy due to the crisis and cumulative effect of declining demand, production and revenues, and increasing debt obligations. Many organizations do have business continuity plans, but they cannot control the fast-moving and volatile outbreak of COVID-19 and its impact. These factors have affected the gasket market also.
Global Industrial Gasket
Market: By Material Type
The industrial gaskets
market is split into semi-metallic, non-metallic, and metallic based on
material type. The semi-metallic material segment is anticipated to dominate
the market in the coming years. Different end-user industries use semi-metallic
gaskets, as they provide enhanced fastening with low overall load compared to
other types of gaskets off the assembly. The non-metallic content group is expected
to rise at the highest CAGR during the projection period.
Global Industrial Gasket
Market: By Product Type
The industrial gaskets
market is segregated into soft gaskets, spiral wound gaskets, ring joint
gaskets, and other gaskets by product type. The soft gasket is the most
prevalent and cost-effective category of product type gaskets. Processing and
other end-user industries use them widely.
Global Industrial Gasket
Market: By End User
The industrial gaskets
industry, based on end-users, is categorized into refineries, power generation,
chemical processing, etc. The end-user segment of refineries is expected to
hold the highest market share in the coming years and record the fastest growth
due to diverse commercial applications and the increasing use of these gaskets
in refinery applications for enduring high temperatures and pressure.
Global Industrial Gasket
Market: Regional insights
The global industrial Gasket market has been divided into five regions i.e., North America, Europe, Asia Pacific, and Latin America, and Middle-East & Africa (MEA). North America dominates this market and retains the largest share in the market for industrial gaskets. Market growth in this area is primarily due to the growing demand for gaskets from end-user industries such as electricity, chemical, oil and gas, and others However, the Asia-Pacific is projected to record the accelerated growth during the period under consideration, owing to the increasing power generation in the region to meet the increasing power demand.
Competitive landscape
The major players
operating in the industrial gaskets industry are Klinger Limited, Garlock
Sealing Technologies, Spira Power, Denver Rubber Company, Goodrich Gasket
Private Limited, Amg Sealing Limited, Oman Gasket Factory, Gasket Manufacturing
Company, Hennig Gasket & Seals Inc., Phelps Industrial Products, and Leader
Gasket Technologies and other prominent players.
Recent Development
January 2020: KLINGER acquires Swiss companies FRANZ GYSI AG and GYSI
Dichtungstechnik, enabling the direct manufacturing and provision of plant
safety products and solutions in Switzerland. The businesses of former owner
Mr. Franz Gysi provide gaskets and valves to several core markets, including
different heating and cooling process industries, heat, gas, water &
wastewater processing industries, loose materials, as well as the biotech,
food, chemical, petrochemical, and pharmaceutical industries. Their alliance
will enable the KLINGER Group to deliver products and solutions to the Swiss
market directly.
Competitive Landscape
The key players in the
market are Klinger Limited, Garlock Sealing Technologies, Spira Power, Denver
Rubber Company, Goodrich Gasket Private Limited, Amg Sealing Limited, Oman
Gasket Factory, Gasket Manufacturing Company, Hennig Gasket & Seals Inc.,
Phelps Industrial Products, and Leader Gasket Technologies, and others.
Scope of the Report
Attribute |
Details |
Years
Considered |
Historical data – 2016-2019 Base Year – 2019 Forecast –
2020 – 2026 |
Facts Covered |
Revenue in USD Million |
Market Coverage |
U.S, Canada, Germany, UK,
France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South
Korea UAE, South Africa, Saudi Arabia. |
Product/Service Segmentation |
Material Type, Product Type, and End-user. |
Key Players |
Klinger Limited, Garlock Sealing
Technologies, Spira Power, Denver Rubber Company, Goodrich Gasket Private
Limited, Amg Sealing Limited, Oman Gasket Factory, Gasket Manufacturing
Company, Hennig Gasket & Seals Inc., Phelps Industrial Products, and
Leader Gasket Technologies, and other prominent players |
By Material Type
Ø Semi-Metallic
Ø Non-Metallic
Ø Metallic
By Product Type
Ø Soft Gasket
Ø Spiral Wound Gasket
Ø Ring Joint Gasket
Ø Other Gasket
By End-User
Ø Power Generation
Ø Industrial Machinery
Ø Chemical Processing
Ø Refineries
Ø Pulp & Paper
Ø Food & Pharmaceuticals
Ø Others
By Region:
Ø Asia Pacific
Ø North America
Ø Europe
Ø Middle East & Africa
Ø Latin America
The objective of the Study:
Ø To analyze and forecast the global Industrial Gasket market size
of the market in terms of value.
Ø To examine the market segmentation based on the region by
splitting the Global Industrial Gasket market into five regions, namely, North
America, Europe, Asia Pacific, Latin America, Middle East & Africa, and
their leading countries and estimate their respective market size.
Ø To outline, categorize, and project the global Industrial Gasket
market based on the Material Type, Product Type, and End-user.
Ø To examine competitive developments like technological
advancement, services, and regulatory framework in the global Industrial Gasket
Market.
Ø To highlight the impact analysis of the factors affecting the
market dynamics such as drivers, restraints, opportunities, and challenges.
Ø To strategically profile the key players and comprehensively
analyze their market shares and detail the competitive landscape for market players.
Business Questions Answer by the Report
Ø How will the market drivers, restraints, and opportunities
affect the market dynamics?
Ø What will be the market size in terms of value and volume and
market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will
be the fastest-growing, and why?
Ø A comprehensive survey of the competitive landscape and the
market participant players
Ø Analysis of strategy adopted by the key player and their impact
on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is
why BlueWeave Consulting offers customization according to Company’s specific
needs. The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of Five Additional Companies
Ø Additional country analysis
Ø Detailed segment analysis
1.
Research Framework
1.1.
Research Objective
1.2.
Product Overview
1.3.
Market Segmentation
2.
Research
Methodology
2.1.
Qualitative
Research
2.1.1. Primary & Secondary Sources
2.2.
Quantitative
Research
2.2.1. Primary & Secondary Sources
2.3.
Breakdown of
Primary Research Respondents, By Region
2.3.1. Secondary Research
2.3.2. Primary Research
2.4.
Breakdown of
Primary Research Respondents
2.5.
Market Size
Estimation
2.6.
Assumption
for the Study
2.7.
Market
Breakdown & Data Triangulation
3.
Executive Summary
4.
Global Industrial
Gasket Industry Insights
4.1.
Industry Value Chain Analysis
4.2.
DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3.
Technological Landscape/Recent
Development
4.4.
Company Market Share Analysis, 2019
4.5.
Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Intensity of Rivalry
4.5.6. Impact of COVID 19
5.
Global Industrial Gasket Market Overview
5.1.
Market Size & Forecast by
Value, 2016-2026
5.1.1. By Value (USD Million)
5.2.
Market Share
& Forecast
5.2.1. By Material Type
5.2.1.1. Semi-Metallic
5.2.1.2. Non-Metallic
5.2.1.3. Metallic
5.2.2. By Product Type
5.2.2.1. Soft Gasket
5.2.2.2. Spiral Wound Gasket
5.2.2.3. Ring Joint Gasket
5.2.2.4. Other Gasket
5.2.3. By End User
5.2.3.1. Power Generation
5.2.3.2. Industrial Machinery
5.2.3.3. Chemical Processing
5.2.3.4. Refineries
5.2.3.5. Pulp & Paper
5.2.3.6. Food & Pharmaceuticals
5.2.3.7. Others
5.2.4. By Region
5.2.4.1. North America
5.2.4.2. Europe
5.2.4.3. Asia Pacific
5.2.4.4. Latin America
5.2.4.5. Middle East & Africa
6.
North America Industrial Gasket Market
6.1.
Market Size & Forecast by
Value, 2016-2026
6.1.1. By Value (USD Million)
6.2.
Market Share
& Forecast
6.2.1. By Material Type
6.2.2. By Product Type
6.2.3. By End User
6.2.4. By Country
6.2.4.1. United States
6.2.4.2. Canada
7.
Europe Industrial Gasket Market
7.1.
Market Size & Forecast by
Value, 2016-2026
7.1.1. By Value (USD Million)
7.2.
Market Share
& Forecast
7.2.1. By Material Type
7.2.2. By Product Type
7.2.3. By End User
7.2.4. By Country
7.2.4.1. Germany
7.2.4.2. United Kingdom
7.2.4.3. France
7.2.4.4. Italy
7.2.4.5. Spain
7.2.4.6. Rest of Europe
8.
Asia Pacific Industrial Gasket Market
8.1.
Market Size & Forecast by
Value, 2016-2026
8.1.1. By Value (USD Million)
8.2.
Market Share
& Forecast
8.2.1. By Material Type
8.2.2. By Product Type
8.2.3. By End User
8.2.4. By Country
8.2.4.1. China
8.2.4.2. India
8.2.4.3. Japan
8.2.4.4. Rest of Asia Pacific
9.
Latin America Industrial Gasket Market
9.1.
Market Size & Forecast by
Value, 2016-2026
9.1.1. By Value (USD Million)
9.2.
Market Share
& Forecast
9.2.1. By Material Type
9.2.2. By Product Type
9.2.3. By End User
9.2.4. By Country
9.2.4.1. Brazil
9.2.4.2. Mexico
9.2.4.3. Argentina
9.2.4.4. Rest of Latin America
10.Middle East & Africa Industrial Gasket Market
10.1. Market Size & Forecast by Value, 2016-2026
10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
10.2.1.
By Material Type
10.2.2.
By Product Type
10.2.3.
By End User
10.2.4. By Country
10.2.4.1. Saudi Arabia
10.2.4.2. UAE
10.2.4.3. South Africa
10.2.4.4. Rest of Middle East & Africa
11.Company Profile (Company
Overview, Financial Matrix, Key Product landscape, Key Personnel, Key
Competitors, Contact Address, and Strategic Outlook) *
11.1.
Klinger Limited
11.2.
Garlock Sealing Technologies
11.3.
Spira Power
11.4.
Denver Rubber Company
11.5.
Goodrich Gasket Private Limited
11.6.
Amg Sealing Limited
11.7.
Oman Gasket Factory
11.8.
Gasket Manufacturing Company
11.9.
Hennig Gasket & Seals Inc.
11.10.
Phelps Industrial Products
11.11.
Leader Gasket Technologies
11.12.
Centauro S.R.L.
11.13.
Smith Gaskets
11.14.
Hydro Silica
11.15.
Phelps Industrial Products
11.16.
Temac
11.17.
Leader Gasket Technologies
11.18.
Pidemco
11.19.
Mercer Gasket & Shim
11.20.
IGP
11.21. Other prominent players.
* Financial details in case of
unlisted companies will be available as per data availability
**The segmentation and the
companies are subjected to modifications based on in-depth secondary for the
final deliverable
Market Segmentation
By Material Type
Ø Semi-Metallic
Ø Non-Metallic
Ø Metallic
By Product Type
Ø Soft Gasket
Ø Spiral Wound Gasket
Ø Ring Joint Gasket
Ø Other Gasket
By End-User
Ø Power Generation
Ø Industrial Machinery
Ø Chemical Processing
Ø Refineries
Ø Pulp & Paper
Ø Food & Pharmaceuticals
Ø Others
By Region:
Ø Asia Pacific
Ø North America
Ø Europe
Ø Middle East & Africa
Ø Latin America
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