High-Temperature Gasket Materials Market : Report Highlights The Competitive Scenario With Impact Of Drivers And Challenges 2024

Gaskets are mechanical seals that are placed between two or more metallic surfaces to avoid any leakage of liquid or gas. High-temperature gasket materials are the materials used for making gaskets used in sealing surfaces, so they can withstand extreme temperatures.

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Based on product type, the high-temperature gasket materials market has been categorized into metallic, semi-metallic, non-metallic, and liquid. During the forecast period, the market for semi-metallic gasket materials is expected to witness rapid growth owing to their high demand in chemical facilities and refineries.

Based on region, the high-temperature gasket materials market has been categorized into Europe, North America, Asia-Pacific (APAC), Latin America, and the Middle East and Africa. Among all the regions, APAC held a significant share in the market in 2017, owing to the extensively large production base for chemicals and petrochemicals in countries such as China, India, Indonesia, Malaysia, and the Philippines. China accounted for a significant share in the APAC high-temperature gasket materials market, as the country has a large as well as fast-growing industrial base, which continues to boost the market growth.

The demand for electricity is rising at an exponential pace globally, particularly in developing economies. In order to meet the growing demand for electricity, new power plants are being established in countries such as China, India, South Korea, Saudi Arabia, Nigeria, and Indonesia. Since gasket materials are widely used in regulating the pressure and temperature in chambers and piping of power projects, growth in power projects is expected to boost the high-temperature gasket materials market in the coming years.

The major factor driving the growth of the high-temperature gasket materials market is the recovery in oil prices, which is also aiding the establishment and expansion of refineries. After witnessing a sharp decline in the oil and gas prices over the past few years, the oil prices have started recovering, which is resulting in fresh investments for facility expansion in the oil and gas industry. Thus, expansion and development in refinery projects are expected to have a positive influence on the market in the coming years.

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Some of the major companies operating in the global high-temperature gasket materials market are Auburn Manufacturing Inc., TEADIT International Produktions GmbH, Flexitallic Group Inc., Atlantic Gasket Corporation, San Diego Seal Inc., Garlock Sealing Technologies, Spetech Sp. z o.o. Uszczelnienia Techniczne – Przemysłowe, 3M Company, Advanced Sealing Inc., Hoosier Gasket Corporation, British Gasket Limited, Klinger Limited, and Permatex Inc.

The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.

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