Industrial Gaskets Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMCH4986 | Last Updated On: Dec 23 2022 | Available Formats

> Global Industrial Gaskets Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Industrial Gaskets Market is Segmented By Product (Ring joint Gasket, Soft Gasket, Spiral Wound Gasket, Kammprofile Gasket, Jacketed Gasket, Corrugated Gasket, Others, By Material (Non-Metallic, PTFE, Rubber, Mica, Ceramic fiber, Metallic, Semi-Metallic), By Application (Food & Pharmaceutical, Refineries, Power Generation, Chemical Processing, Industrial Machinery, Pulp & Paper, Water Treatment, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Industrial Gaskets Market Overview

The Global Industrial Gaskets Market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of  XX% during the forecast period 2022-2029.

Industrial gaskets are key components of industrial applications that help prevent leaks, seal joints, limit vibration and enhance mounting. Gaskets are needed in several industries, including water and gas, food processing and petrochemical. Gaskets are used to stop leakage between the two surfaces while compressed because, over time, the joints may rust and the joints may break without a gasket.

Their purpose and industrial application regularly group gaskets. Three of the most common uses for the different types of industrial gaskets include anti-vibration, sealing and mounting. Any machine that creates frequency and vibration can benefit from using anti-vibration industrial gaskets. By effectively muffling vibration, the part of wasted energy is significantly limited. In addition, damage occurring from vibration is decreased by utilizing an anti-vibration type of gasket.

Industrial Gaskets Market Scope and Summary

Metrics

Details

Market CAGR

High

Segments Covered

By Product, By Material, By Application and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

 

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Source: DataM Intelligence Analysis (2022)

Industrial Gaskets Market Dynamics and Trends

The global industrial gaskets market is expected to boost with oil & gas companies looking to reduce flange leakage and emissions.

Oil & gas companies looking to reduce flange leakage and emissions

As eco-awareness and sustainability take global priority, clean energy standards become increasingly stringent. Leakage and emissions reduction are of major concern in the oil & gas industry. Fugitive emissions (uncontrolled emissions from pressurized containment) are one metric gaining focus as green efforts ramp up. Current regulatory guidelines call for forming maximum leakage rates at set compressive loads, giving manufacturers a defined standard to reach. A flange leak results in energy loss and sometimes disastrous consequences. The operators are looking for effective solutions for preventing leaks of toxic material that can harm humans and the environment. Using an appropriate type of gasket will help achieve a reliable seal to stop the leak from the flange joints.

The market has different types of gaskets used in the oil and gas (petrochemical) industry and other heavy industries, including standard ANSI/ASME pipe flanges (an example is ASME B16.5 flanges) gaskets used in heat exchangers. As the oil & gas industry searches for more efficient solutions, the ability to measure system performance will grow more critical. In 2021, KLINGER United Kingdom launched the KLINGER Eco-Seal spiral wound gasket: A new standard in sustainability for the oil & gas industry. KLINGER UK, with the Eco-Seal, has developed a spiral wound gasket that is 10 times tighter than the standard.

Use of banned and harmful materials for manufacturing gasket

Asbestos-based gaskets were utilized in engines and heavy industry until public awareness of asbestos-related diseases forced manufacturers to find alternatives for the toxic mineral. Workers remain at a high risk of encountering asbestos gaskets when separating industrial machinery or old engines. Do-it-yourself auto mechanics are at risk of exposure to old asbestos gaskets. So far, asbestos has been completely banned in 67 countries, including European Union and Japan. While most modern gasket manufacturers use heat-resistant substitutes for asbestos, the U.S. EPA reports that imports of chrysotile asbestos are still used to make sheet gaskets and other types of gaskets. In 2021, EPA released its findings on chrysotile asbestos as part of an evaluation. The agency’s Final Risk Evaluation for Asbestos, Part 1: Chrysotile Asbestos, detailed 32 uses of chrysotile asbestos, including certain types of gaskets. The EPA determined certain asbestos gaskets posed an unreasonable risk to the health of consumers and bystanders. The evaluation also stated commercial chrysotile asbestos utilized in sheet gaskets and other gaskets poses a risk to workers and occupational non-users.

COVID-19 Impact Analysis on Industrial Gaskets Market

Due to the closing of various industrial activities, the industrial gaskets market has faced substantial losses during the COVID-19 outbreak. Due to COVID, many activities are halted by refineries, chemical processing and water & wastewater. In 2020, U.S refiners faced deep financial losses and closed 5 facilities as the pandemic slashed fuel sales. However, the market has been stable in some end-user industries, such as pharmaceuticals and food & beverages. Governments take every necessary step to mitigate COVID-19 impact by promoting food processing.

For instance, UAE has tripled its local food production and is looking to boost the domestic production of essential items. Moreover, PTFE gaskets have seen positive growth due to their pharmaceutical applications in mixers, pumps, valves and flanged joints in piping & transfer equipment.

Industrial Gaskets Market Segmentation Analysis

The global industrial gaskets market is segmented based on product, material, application and region.

Rising demand for PTFE gaskets in the oil & gas and power industry will boost the demand for non-metallic gasket market

The global industrial gaskets market is segmented into metallic, semi-metallic and non-metallic based on material. Non-metallic gaskets are fabricated from fiber, rubber, PTFE and graphite materials. The material properties make them suitable for flat-faced applications with low pressures. Non-Metallic gaskets are utilized in many applications such as pipe flanges, compressors, heat exchanges and bonnet valves. Non-metallic gaskets are normally used in low-temperature and pressure applications. Usually, composite sheet materials are used with flat face flanges and low-pressure class applications. PTFE gaskets are mostly used in high-performance bushing and bearing. It is ideal for many applications in aerospace, power and the oil & gas industry.

In 2019, Watson-Marlow Fluid Technology Group expanded its BioPure gasket range, using new materials to cover wider applications to satisfy the high demand for consistent quality in bioprocessing components. The new Viton gaskets use innovative materials, synthetic rubber, polytetrafluoroethylene and fluoropolymer elastomer, to provide the highest chemical and steam resistance. BioPure gaskets support leak-resistant connectivity within pharmaceutical and biotechnology production processes, lowering validation risks in contamination-free applications.

Source: DataM Intelligence Analysis (2022)

Global Industrial Gaskets Market Geographical Analysis

Expanding refineries and other industrial sectors will boost the demand for industrial gaskets in Asia-Pacific

The growing industrialization and rising demand for energy have boosted industrial gaskets in the region. Industrial production in China grew 4.3% year-on-year in December 2021, accelerating from a 3.8% rise in the previous month and exceeding market forecasts of a 3.6 percent gain. Moreover, the region has emerged as one of the primary sectors in refineries. India has 18 public sector refineries and 5 refineries in the private sector. Moreover, 3 new refineries have been proposed for implementation at Orissa, Madhya Pradesh and Punjab.

Due to advancing industrialization, various companies are looking to expand their business in developing countries. For instance, in 2019, Trelleborg's marine and infrastructure started producing its Gina Gasket locally for the Chinese market, following a new manufacturing line at its manufacturing facility in Qingdao. The expansion of production capacity follows a cooperation agreement with Guangzhou Salvage and China Communications Construction Company.

Source: DataM Intelligence Analysis (2022)

Industrial Gaskets Market Companies and Competitive Landscape

The global industrial gaskets market is highly competitive due to easy manufacturing and has the presence of several local and international brands. Major players in the market include DONIT TESNIT d.o.o., AMG Sealing Limited, Klinger Limited, Teadit, Denver Rubber Company, Flexitallic, Hennig Gasket & Seals Inc, James Walker, Mith Gaskets, Denver Rubber Company, W. L. Gore & Associates, Inc, among others. The players in the market are known to incorporate numerous market strategies to achieve growth in the global industrial gaskets market; these include product launches, expansions and collaborations.

  • In 2021, Stockwell Elastomerics Inc. launched a new ultra-thin silicone rubber gaskets for rugged displays and comparable sealing requirements. The gaskets boast resiliency, low durometer, high-bond strength and a moisture-proof release liner to provide tight tolerances in meeting IP standards.

DONIT TESNIT d.o.o.

Overview: DONIT TESNIT d.o.o. is the leading sealing product producer and solutions globally, serving major markets and industries. DONIT has a reputation among the leading producers of sealing materials. The company currently serves customers in more than 100 countries on all continents.

Product Portfolio:

  • PTFE enveloped gaskets: It has a PTFE envelope open on one side, usually on the outside. Due to their good mechanical properties, high chemical stability and permanent resistance to the atmosphere (gas, humidity and temperature changes), they are ideal for use with various substances, particularly aggressive chemicals.
  • Key Development: In 2020, DONIT TESNIT d.o.o. announced its new gaskets stock and web store for expanding its business in the market.

Why Purchase the Report?

  • To visualize the global industrial gaskets market segmentation by product, material, application and region and understand key commercial assets and players.
  • Identify commercial opportunities in the global industrial gaskets market by analyzing trends and co-development.
  • Excel data sheet with numerous industrial gaskets market-level data points with four segments.
  • PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
  • Product mapping available in excel consists of key products of all the major market players

The global industrial gaskets market report would provide approximately 61 tables, 61 figures and almost 207 pages.

Target Audience

  • Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Raw Material Providers
  • Oil & Gas Companies
  • Manufacturers
  • Logistics companies
  • Distributors

 

Frequently Asked Questions

What is the Industrial Gaskets Market growth?

The market is growing at a high CAGR.

What is the Industrial Gaskets Market size in 2021?

The Market size was valued at USD YY million in 2021.

Who are the key players in Industrial Gaskets Market?

Major Companies are AMG Sealing Limited, Klinger Limited, Denver Rubber Company, Flexitallic, Hennig Gasket & Seals Inc, James Walker, Mith Gaskets, Denver Rubber Company, W. L. Gore & Associates, Inc.

 

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