Klinger (Austria) and Flexitallic (US) are leading players in Industrial Gaskets Market

The global industrial gaskets market size is estimated at USD 9.0 billion in 2020 and is projected to reach USD 11.6 billion by 2025, at a CAGR of 5.2%. Increasing consumption of PTFE gaskets is the major factor for the growing demand of industrial gaskets market.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=24792534

An industrial gasket is a type of seal, which is used to fill the space between two or more contacting surfaces to prevent leakages. In other words, it can be defined as a compressible material or a combination of materials clamped between two or more stationary flanges to prevent the leakage of the media flowing through it. The gasket is made of different metallic and non-metallic materials, depending upon the application area which may require withstanding oil, water, antifreeze, electromagnetic interference (EMI), or radio frequency interference (RFI). Klinger (Austria), Teadit (US), Flexitallic (US), Garlock (US), and W.L.Gore (US) have a strong emphasis on using different strategies to maintain their competitive position in the market.


Based on material type, industrial gasktets is segmented on the basis of material type as semi-metallic, non-metallic, and metallic. Semi-metallic is the largest segment in the overall industrial gaskets market. Semi-metallic gaskets can be fabricated using any metal which is available in thin strip or sheet form, and which can be welded. These gaskets can be used against any corrosive medium depending on the required metal and filler/facing material.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=247925347

Based on product type, the market can be segmented as spiral wound gaskets, kammprofile gaskets, ring joint gaskets, soft gaskets, jacketed gaskets, corrugated gaskets, and others. Soft gaskets accounted for the largest share of the industrial gaskets market in 2019. This is because it is the most preferred product type in various end-use industries, which include chemical processing. In addition, it offers low-cost advantage compared to other gaskets. A soft gasket material can be selected from a large variety of elastomers, compressed non-asbestos, PTFE, flexible graphite, and high-temperature sheet products. These gaskets are used in a wide range of applications such as pipe flanges, heat exchangers, compressors, and bonnet valves. A soft gasket material can be purchased in a variety of cut shapes or be provided in sheet or rolls.

Based on end-use industry, the market can be segmented as refinieries, chemical processing, power generation, industrial machinery, pup & paper, food & pharamceutical, and others. Refineries accounted for the largest share of the industrial gaskets market in 2019.They are used in critical sealing applications in the refining industry, under high temperature, and in high-pressure environments to prevent the leakage of hazardous media. Industrial gaskets are used extensively in the refining industry to provide reliable sealing and adhere to the leakage regulations set by regulatory authorities. Their use also enhances operational efficiency by reducing expenses on maintenance, monitoring, and repairs.

The industrial gaskets market in APAC is projected to register the highest CAGR during the forecast period. The increasing population, urbanization, and growing demand for energy are leading to an increasing demand for industrial gaskets from end-use industries and driving the industrial gaskets market in APAC. Recent policies formulated by the Indian government, such as the decision to liberalize the pharmaceutical industry in the country by allowing Foreign Direct Investment (FDI) of up to 100% is expected to provide a boost to the country’s pharmaceutical sector, and further drive the demand for industrial gaskets in India during the forecast period.

The recent COVID-19 pandemic is expected to impact the various industries globally. Due to lockdown, many refineries, chemical processing, and food & pharamceuticals industries were halted. For instance; Tyson Foods (US), a leading meat processing company, restricted its pork processing by nearly 50% and beef production by about 25% by May 2020. The companies are taking precautions to avoid the spread of the virus. Governments of different countries are keeping a close watch on the disruption and taking every necessary step to mitigate the impact of COVID-19 by promoting food processing. Even after the lifting of lockdown, it will be challenging for industrial gaskets manufacturers to get back to normal working situations. Similarly, economies such as China, India, and others are also facing the impact of the Covid-19 pandemic.

Wide applications of industrial gaskets in various end-use industries are expected to create opportunities for manufacturers during the forecast period. The key players in the industrial gaskets market include Klinger (Austria), Teadit (US), Flexitallic (US), Garlock (US), W.L.Gore (US), Spira Power (UAE), Lamons (US), Donit (Slovenia), Goodrich Gasket (India), and James Walker (UK). Tindustrial gaskets market report analyzes the key growth strategies, such as investment & expansion, and merger & acquisition adopted by the leading market players between 2017 and 2020

Klinger (Austria) is one of the leading players in industrial gaskets market. In July 2020, The company majorly focuses on joint venture strategy. The company signed a joint venture agreement with Chinese Sinyuan Industrial Material Group and Japanese Hamamatsu Gasket to establish Klinger Asia. This development is aimed at expanding its services and expertise in the Asian region.

Flexitallic is one of the leading manufacturers and suppliers of industrial static sealing products globally. The company is among the key players in the industrial gaskets market. The company believes in sustainability for creating value. Its strategy is focused on investments & expansions to expand its global reach and strengthen its competitiveness in the global industrial gaskets market. For instance, in 2020, The company expanded its Aberdeen base to 4,600 square feet to meet the demand from the offshore oil & gas industry. This expansion will provide increased support to its growing client base in the North East of the UK.

Get 10% Customization on this Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=247925347

Comments

Post a Comment

Popular posts from this blog

Building Thermal Insulation Market : Size Analysis by Key Players, End Users, Technologies, Growth & Forecast 2027

  The report  " Building Thermal Insulation Market  by Material (Glasswool, Stonewool, Plastic Foam), Application (Roof Insulation, Floor Insulation, Wall Insulation), Building Type (Residential, Non-Residential) and Region - Global Forecast to 2027",  will grow to USD 35.3 billion by 2027, at a CAGR of 4.7% from USD 28.0 billion in 2022. Browse  in-depth TOC on  "Building Thermal Insulation Market" 313 market data Tables 63 Figures  274 Pages  Download PDF Brochure @  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=510 Building thermal insulation is used to reduce the amount of energy required to heat or cool a house and minimize the amount of heat that escapes during the winter and limits the hot summer air to penetrate the house. It is the most cost-effective measure in climates that have a wide range of annual average temperatures. The resistance to heat flow of insulation is measured or rated in terms of its thermal resistance or R-value. The higher the
Read more

Face Mask Market – Business Opportunities and Global Forecast to 2027

The report " Face Mask Market  by Nature (Disposable, Reusable), Material Type, Type (Surgical, Respirator), End-Use, Distribution Channel (Pharmacy & Drug Stores, Supermarket & Hypermarket, Specialty Stores, E-commerce) and Region - Global Forecast to 2027 "The face mask market is projected to grow from USD 25.1 billion in 2022 to USD 3.0 billion by 2027, at a CAGR of -34.5% from 2022 to 2027. The market is projected to witness tremendous growth from 2018 to 2021, followed by a sharp decrease in the years till 2027. Factors contributing to the exponential growth and then decrease during the forecast period in the spread of the COVID-19 globally, and the possible decrease in the spread of the novel coronavirus after the years 2022. Other factors such as the rise in consumer awareness pertaining to the importance of face masks, and the surge in social media marketing to encourage a positive attitude towards wearing masks, are driving the demand for face masks globally.
Read more

Solar Photovoltaic Glass Market Outlook: Emerging Trends and Forecast to 2027

Solar photovoltaic glass market size is projected to reach USD 21.1 billion by 2027 from USD 6.2 billion in 2022 growing at a CAGR of 27.9%. Solar Photovoltaic Glass, also known as solar PV glass or solar glass, refers to a specialized type of glass that is designed to generate electricity from sunlight. It combines the functionality of traditional glass with the energy-producing capabilities of photovoltaic (PV) technology. Solar Photovoltaic Glass is typically made by integrating thin-film solar cells or crystalline silicon solar cells into the glass structure during the manufacturing process. These solar cells are responsible for converting sunlight into electricity through the photovoltaic effect. The glass serves as a protective and supportive layer for the solar cells, allowing them to function effectively while maintaining transparency. The main purpose of Solar Photovoltaic Glass is to capture solar energy and convert it into usable electricity. It finds applications in various
Read more