Industrial Gaskets Market Size, Share, Growth Report 2032

Industrial Gaskets Market Size

The global Industrial Gaskets Market size was USD 9.1 billion in 2020 and is predicted to gain revenue of about USD 14.1 billion by 2028, is set to record a CAGR of nearly 5.7% over the period from 2021 to 2028. The report offers assessment and analysis of the Industrial Gaskets Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

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Industrial Gaskets Market: Outlook

Industrial gasket is a mechanical seal utilized for filling space between two or more than two surfaces. Moreover, it is used for preventing leakage from space occurring between two joined objects under compression. Apparently, the products are made from sheet, paper, metal, fiberglass, rubber, cork, silicone, and felt. Furthermore, industrial gaskets find extensive use in mining, refining, oil & gas, water treatment, electronic, and petro-chemical industries. Moreover, industrial gasket is used for storing energy such as spring.

The gasket is the seal, filling the space between two mating surfaces to prevent the leakage from the objects under compression. They are specially used in high-pressure steam systems. Gaskets used in industrial applications helps to limit the vibration, enhance mounting, and prevent leakage. Moreover, they maintain the required pressure and eradicate the contamination from any kind of external environmental condition. Industrial gaskets are manufactured from a different range of elastomers and materials. They are made up of flat materials which include a sheet from paper, rubber, metal, felt, silicone, nitrile rubber, cork, and others.  These gaskets can be used in various end-user industries such as chemicals, oil and gas, power, and others.

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Industrial Gaskets Market: Growth Drivers

Massive product demand for piping & heat-exchanger activities in oil & gas sector, chemical processing industry, and refineries will proliferate growth of industrial gaskets market. Apart from this, strict laws pertaining to leakage in factories and rise in investments for enhancing production capacity of product will steer development of industrial gaskets market.

Large-scale use of industrial gaskets in power generation, pulp & paper, and specialty chemical & chemical industries for preventing leakage of liquids & gases will prop up growth of industrial gaskets industry over forecast timespan. Moreover, beneficial features such as resistance to acids, chemicals, extreme temperatures, and alkaline will accentuate growth of industrial gaskets market. Surge in number of factories in developing nations will augment business landscape. However, fluctuations in raw material costs can impede growth of industrial gaskets market in years ahead.

Increasing demand for industrial gaskets in various applications is primarily driving the market growth. Gaskets in the oil and gas production avoid the leakage and wastage of gas. In addition to this, rising adoption of Polytetrafluoroethylene (PTFE) from different industries such as chemicals, oil & gas, etc. will drive the growth of the market in forthcoming years. Furthermore, the increase in the stringent regulations regarding spillage and contamination by Environmental Protection Agency (EPA) to prevent the damage to the environment is also a considerable factor boosting the market growth in the forecast period. Therefore, industrial gaskets market is estimated to record a healthy growth during the forecast period. However, utilization of low-priced asbestos-based gaskets in developing countries can hamper the market growth in upcoming years. Growing number of refineries in different regions can be an opportunity for the growth of the market.

Report Scope:

Industrial Gaskets Market: Segment Analysis

On the basis of product type, the industrial gaskets market is segmented into the soft gasket, ring joint gasket, jacketed gasket, spiral wound gasket, kammprofile gasket, corrugated gasket, and others (compressed fiber asbestos and O-rings). Based on the material type, the market is fragmented into metallic, non-metallic, and semi-metallic. On the basis of end-user, the market is fragmented into chemical processing, industrial machinery, power generation, pulp & paper, food & pharmaceuticals, refineries, and others (wastewater treatment and textiles).

Industrial Gaskets Market: Regional Outlook

Asia Pacific Industrial Gaskets Market To Record Fastest Growth By 2028

Expansion of industrial gaskets industry in Asia Pacific zone over assessment period is owing to easy availability of raw components and huge investments in end-use sectors. In addition to this, growing urbanization, rise in demand for power conservation, and increase in population in countries such as India and China is predicted to pave way for growth of industrial gaskets market in Asia Pacific over forecast period. Presence of large number of chemical factories in these countries is projected to create lucrative growth avenues for industrial gaskets market in Asia Pacific zone.

Based on the geography, North America accounted for a major market share in 2020. The trend is anticipated to continue during the upcoming years. Rising demand for industrial gaskets from chemical processing, power generation, and refineries sectors is estimated to propel the market growth. Moreover, Asia Pacific is attributed to register the fastest growth in the market. The growth in this region is accredited to the rising demand for power production in order to meet the increasing demand for power.

Industrial Gaskets Market: Competitive Insights

Key players profiled in report and impacting growth of industrial gaskets industry are

• Denver Rubber Company
• W. L. Gore & Associates
• Hennig Gasket & Seals Inc.
• James Walker & Co.
• Teadit N.A. Inc.
• Klinger Limited
• Spira Power Gasket Manufacturing LLC
• Garlock Sealing Technologies Inc.
• Flexitallic L.P.
• Lamons
• Spitmaan

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