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Gaskets Market Trends

Report ID: GMI5681
Published Date: May 2023
Report Format: PDF

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Gaskets Market Trends

Increasing demand for electricity from various developing economies will benefit the gaskets market expansion by 2032. Gaskets play a critical role in power generation equipment by sealing joints and preventing leaks in a variety of applications. Power generation facilities typically operate at high temperatures and pressures, making it essential to use high-quality gaskets that can withstand these extreme conditions. Gaskets used in pumps and compressors prevent it from leaks of fluids and gases, ensuring efficient operation. Gaskets used in these applications are able to withstand high pressures and corrosive fluids.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of gaskets exceeded USD 8.7 billion in 2022 and is projected to register 4.8% CAGR during 2023 to 2032, driven by the expanding oil refinery industry.

The semi-metallic material segment registered significant growth in 2022 and is poised to grow at a robust pace through 2032, fueled by the escalating demand from the pulp & paper and food & pharmaceutical sectors.

APAC gaskets industry held the largest revenue share globally in 2022 and is expected to be the fastest-growing market by 2032 attributed to the rapid expansion of end-use industries in the region.

Klinger, Freudenberg Sealing Technologies, SKF AB, ElringKlinger AG, Dana Incorporated, Trelleborg AB, Flexitallic Group, Garlock Sealing Technologies LLC, James Walker Group Ltd., and Smiths Group plc are some the top manufacturers of gaskets.