Dublin, March 20, 2023 (GLOBE NEWSWIRE) -- The "High Temperature Gaskets Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
The global market for high-temperature gaskets is anticipated to grow at a CAGR of 5% during the forecast period of 2022 to 2030
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The expansion of the high-temperature gaskets market is being driven in large part by a number of reasons, including the rapid rise of industry and the rising need for gaskets, particularly in the automotive sector.
The key trend that the High-Temperature Gaskets Market is witnessing right now is an increase in the number of investments made for the purpose of boosting the manufacturing of the material. Rapid development and expansion in end-use domains such as chemicals, oil and gas, and power generation, automobile companies across the world, and the companies producing gasket materials are also looking into expanding their production capacity, which is leading to steady growth in the market.
The industry expansion is also being helped along by the enormous demand for heaters and boilers. However, the failure of the gasket can be traced to the inappropriate use of the material during the production process. This has the potential to be a significant barrier to the expansion of the market.
The global industrial manufacturing capacity is negatively impacted when political instability, issues such as trade wars, and protectionism are present. This can be seen as a major reason that is constraining the growth of the high-temperature gaskets market.
China is the most important manufacturing hub in the world, with a significant presence of electricity generation plants, chemical processing plants, vehicle firms, and transportation corporations. Therefore, there is a significant need for a high-temperature gasket in the Chinese market.
Sustainability in High-Temperature Applications Boosting the Market
Gaskets designed to withstand high temperatures find the majority of their applications in the oil and gas, chemical, and petrochemical sectors. Flanges that are utilized in environments with high temperatures, pressures, vibrations, and flow rates require gaskets that can withstand high temperatures.
The thermal applications that high-temperature gaskets are developed for are found in a wide variety of end-use sectors. The outstanding resistance of high-temperature gaskets to corrosion, oxidation, chemicals, and stress caused by extreme temperatures is the most significant benefit of using these gaskets.
End users are benefiting from developments in specialized high-temperature gaskets, such as die-cut and water jet cut high-temperature gaskets. They are built and developed for a variety of applications in order to accommodate the machinery used in a wide range of end-user sectors, including the oil and gas, chemical and petrochemical, mining, marine, and nuclear industries.
Innovations in Rubber Compounds Increasing the Scope of Applications for High-Temperature Gaskets Market
The high-temperature gaskets market will be driven by the development of new and more advanced rubber compounds for high-temperature gaskets, which will enable these gaskets to survive demanding thermal applications.
The global market for high-temperature gaskets is driven by the demand for high-temperature gaskets in the mining industry for vibration and shock control, as well as in the oil and gas, chemical, and petrochemical industries, where they are used in process equipment to resist corrosive fluids and extreme weather conditions.
Increasing Markets for Chemicals and Petrochemicals in Selective Geographies Expanding the Market for High-Temperature Gaskets
The expansion of the chemical and petrochemical industry in countries located in Asia and the Middle East, as well as the use of more technologically advanced high-temperature gaskets, will be driving forces for the makers of high-temperature gaskets. The deployment rate of high-temperature gaskets will be driven by the rise of remote operations in end-user sectors such as oil and gas, mining, and marine in the Middle East, Africa, and Asia.
Increasing Investments to Lead to Market Expansion
The increasing investments in the manufacturing of high-temperature gaskets by a wide variety of corporations and conglomerates will plant the seeds for future expansion. The increasing emphasis that the participants are placing on research and development activities in order to improve and add new features to the product will also result in the addition of further growth stars.
Increased Industrialization Across Geographies Fuelling the Market Growth
The high-temperature gasket market is expected to experience significant expansion as a result of the brisk pace of industrialization that is occurring in a number of different places around the globe. Exploration efforts for oil and gas are expected to increase, which would further encourage exponential growth. The efforts of a variety of market participants to improve the quality of high-temperature gaskets in terms of the materials used will contribute to an increase in revenues, which will, in the long run, result in an accelerated growth rate.
Market Remains Fragmented Displaying Intense Competition Among Market Players
The global market for high-temperature gaskets is very competitive due to the presence of a large number of varied vendors. The Flexitallic Group, Garlock, Teadit Group, Spetech, Hennig Gasket & Seals Inc., IGS Industries, and Advanced Sealing are only a few of the major companies in this market. The market for liquid gasket sealant holds very few market players that operate.
The companies Kommerling UK Ltd., 3M, Henkel Adhesives, National Engineering Products Inc., A.I. Schulze Chemotechnische Fabrik e.K., Threebond, and Jet-Lube LLC are among the most notable competitors in this industry.
Companies have managed to maintain their roles in the market despite the fact that the manufacturing methods for elevated temperature gaskets have evolved over the course of the years by using the most up-to-date approaches. In the years to come, the market will continue to be steady, with a focus on international collaboration, which will develop into a competitive advantage for businesses.
Flexitallic Group, Teadit Group, Spetech, Garlock, Hennig Gasket & Seals Inc., Advanced Sealing, IGS Industries, Kommerling UK Ltd., Henkel Adhesives, 3M, National Engineering Products Inc., Threebond, A.I. Schulze Chemotechnische Fabrik e.K., and Jet-Lube LLC are just a few of the key companies that are currently active in this market.
Company Profiles
- Flexitallic Group
- Teadit Group
- Spetech
- Garlock
- Hennig Gasket & Seals Inc.
- Advanced Sealing
- IGS Industries
- Kommerling UK Ltd.
- Henkel Adhesives
- 3M
- National Engineering Products Inc.
- Threebond A.I.
- Schulze Chemotechnische Fabrik e.K.
- Jet-Lube LLC
Market Segmentation
Material
- Graphite
- Fluorosilicone
- Fiberglass
- Ceramic
- Mica
- Teflon
- Silicon
- Stainless Steel & alloy
- UHT Liquid Gasket Materials
- Others (Thermiculite, etc.)
Product
- Metallic
- Semi-Metallic
- Non-Metallic
- UHT Liquid Gaskets
Temperature Range
- 400-500 F
- 500-600 F
- 600-750 F
- 750-1000 F
- Above 1000 F
Application
- Power Generation
- Oil & gas
- Chemical Processing
- Primary Metals
- Transportation
- Others
Design
- Spiral wound
- Kammprofile
- Double-jacketed
- Fishbone
- Others
For more information about this report visit https://www.researchandmarkets.com/r/rrl424
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
