Pune India, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the high-temperature gasket materials market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the high-temperature gasket materials market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the material type, product type, application, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global high-temperature gasket materials market are Auburn Manufacturing, Inc., Flexitallic Group, Inc., TEADIT International Produktions GmbH, San Diego Seal, Inc., 3M Company, Garlock Sealing Technologies, Advanced Sealing Inc., Spetech Sp. z o.o. Uszczelnienia Techniczne – Przemysowe, Atlantic Gasket Corporation, Hoosier Gasket Corporation, British Gasket Limited, Klinger Limited, and Permatex, Inc. among others. To achieve a substantial market share in the worldwide high-temperature gasket materials market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A gasket or mechanical seal is used to fill the space between two or more fixed pieces in order to stop any kind of liquid or gas leakage. Gaskets are often made from flat materials such sheets of paper, silicone, rubber, metal, cork, felt, neoprene, nitrile rubber, fiberglass, polytetrafluoroethylene (commonly known as Teflon), or plastic polymers like polychlorotrifluoroethylene. High-Temperature The gasket material is necessary anywhere the application temperature exceeds 750F. However, material choice is crucial because if a gasket is constructed from the wrong material, it may break when exposed to applications involving intense heat, high pressure, and saturated steam. One of a gasket's most important qualities is its ability to withstand significant compressive stresses when made with compressed fibre gasket material. The most effective test for evaluating the performance of gasket materials is the "hot compression test." Increased investments targeted at expediting material production are what largely define the market for high-temperature gasket materials. Due to the swift growth and expansion of end-use sectors including chemicals, oil and gas, and power generation across numerous countries, enterprises that produce gasket materials are also thinking about expanding their manufacturing capacity.
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Scope of High-Temperature Gasket Materials Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Material Type, Product Type, Application, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Auburn Manufacturing, Inc., Flexitallic Group, Inc., TEADIT International Produktions GmbH, San Diego Seal, Inc., 3M Company, Garlock Sealing Technologies, Advanced Sealing Inc., Spetech Sp. z o.o. Uszczelnienia Techniczne – Przemysowe, Atlantic Gasket Corporation, Hoosier Gasket Corporation, British Gasket Limited, Klinger Limited, and Permatex, Inc. among others |
Segmentation Analysis
The graphite segment is expected to be the fastest-growing segment in 2022.
The material type segment is stainless steel & alloy, graphite, fiber glass, mica, teflon, fluorosilicone, ceramic, and silicon. The graphite segment is expected to witness the highest growth rate during the forecast period. Graphite is a well-known form of crystalline carbon as well as a half-metal and a well-known carbon allotrope. Under ideal circumstances, it would be one of the most stable forms of carbon accessible. the optimal temperature at which carbon compounds are produced.
The semi-metallic segment is expected to be the fastest-growing segment in 2022.
The product type segment is liquid, metallic, non-metallic, and semi-metallic. The semi-metallic segment is expected to witness the highest growth rate during the forecast period. The market for semi-metallic gasket materials is expected to grow significantly due to the high demand for these materials in chemical facilities and refineries.
The oil & gas segment is expected to be the fastest-growing segment in 2022.
The application segment is transportation, power generation, primary metals, manufacturing, oil & gas, and chemical processing. The oil & gas segment is expected to witness the highest growth rate during the forecast period. The industry's development strategies, which took the form of new refineries and hydrocarbon projects, allowed the oil and gas category to maintain a sizeable market share.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the high-temperature gasket materials include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Europe region witnessed a major share. Europe is anticipated to control the high-temperature gasket material market. The need for the structure is growing in the area due to considerable improvements in the oil and gas and power generation industries.
Country Analysis
- Germany
Germany's high-temperature gasket materials market size was valued at USD 0.75 billion in 2022 and is expected to reach USD 1.19 billion by 2030, at a CAGR of 6% from 2023 to 2030. Germany is most likely to control the high-temperature gasket material market. The demand for commercial vehicles in the region is increasing as a result of notable developments in both the ICE and electric vehicle sectors of the automotive industry.
- China
China’s high-temperature gasket materials market size was valued at USD 0.78 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. With a sizable concentration of automakers, power plants, chemical processing facilities, and other sectors, China is the greatest manufacturing hub in the world. China has a substantial market for high-temperature gaskets as a result.
- India
India's high-temperature gasket materials market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.96 billion by 2030, at a CAGR of 6.1% from 2023 to 2030. The market is seeing an increase in global automobile sales. Another important factor driving the market's growth is the expanding local production and sales of electric vehicles.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the high-temperature gasket materials market is mainly driven by the rise in applications.
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