Industrial Gaskets Market

Industrial Gaskets Market by Material Type (Semi-metallic, Non-metallic, and Metallic) , Product Type (Soft, Spiral Wound, Ring Joint, Kammprofile, Jacketed, Corrugated, and Others), End-Use Industry, and Region - Global Forecast to 2025

Report Code: CH 6026 Feb, 2021, by marketsandmarkets.com

[177 Pages Report] 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%. The growing demand for industrial gaskets is due to its increasing demand in various applications like piping and heatexcahnger in oil & gas, refineries, and chemical processing industries , stringent leakage regulations by various environmental regulatory bodies, and the increased investments and production of hydrocarbons (crude oil and natural gas) in the Middle East and Asia. However, the consumption of low-cost asbestos-based gaskets is hampering the demand for industrial gaskets.

Industrial Gaskets Market

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COVID-19 impact on Global Industrial Gaskets Market

The industrial gaskets are used various industries such as refineries, power generation, chemical processing, food &pharmaceuticals, and others. COVID-19 has severely impacted these industries.

  • The lockdown in various countries and logistical restrictions have adversely impacted the industries. Supply chain disruptions, workforce unavailability, logistical restrictions, limited availability of components, demand drop, low company liquidity, and shutdown of manufacturing due to lockdown in various countries have adversely affected the industry. Raw material suppliers and other related businesses are forced to re-evaluate their strategies to cater to this industry during this crisis period.
  • Due to lockdown, many refineries, chemical processing, food & beverage processing industries, textile, and water & wastewater treatment industries activities are halted. 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. For instance, The UAE has tripled its local food production and is aiming to increase domestic production of essential items, such as dairy products, cooking oil, and packaging of dates, fresh poultry, fish, seafood, and other items.
  • Even where shutdowns have not been imposed, restrictions on the movement of people and supplies have delayed operations. In the second half of 2020, countries have lifted restrictions and gradually started business operations in various sectors. Even after the lifting of lockdown, it will be challenging for industrial gaskets manufacturers to get back to normal working situations. This will subsequently affect the industrial gaskets market.

Industrial Gaskets Market Dynamics

Driver: Wide applications of industrial gaskets in various end-use industries

Industrial gaskets are widely consumed in process industries, such as refineries & petrochemical, power generation, chemical, and pulp & paper, to prevent leakages of liquids and gases. The demand for industrial gaskets is increasing in these industries, because of its higher resistance to chemicals, alkaline, acids, and others; resistance to high temperature; resistance to extreme pressure; ability to withstand different environments, and others. The increasing number of refineries in emerging countries is expected to boost the demand for industrial gaskets during the forecast period.

Restrain: Consumption of low cost asbestos-based gaskets in emerging countries

Asbestos is a thin, fibrous, silicate mineral crystal which is inexpensive, and has good properties like high insulation, excellent soundproof, heat and electrical resistance. The consumption of low-priced products manufactured by domestic players, coupled with the use of asbestos-based gaskets in emerging economies, mainly, China and India is curtailing the growth of the industrial gaskets market. Asbestos is a hazardous material with high inherent characteristics and has been banned in most developed countries. However, it is still being used in countries, such as India and China, which are among the largest consumers of gaskets in terms of volume. However, due to the harmful effects of asbestos, reliance on this material is reducing, and the industry is moving toward the use of non-hazardous materials for the manufacturing of industrial gaskets.

Opportunity: Growing number of refineries in APAC

There has been a rise in the number of refineries in APAC, which is spurring the growth of the industrial gaskets market in this region. The three leading players in the Indian downstream sector, Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL), and Bharat Petroleum (BPCL), signed a Joint Venture (JV) agreement in June 2017 to create the world’s largest refinery-cum-petrochemicals complex at Babulwadi, Ratnagiri, in India at a cost of USD 40.0 billion with a refining capacity of 60 million metric tons per annum (MMTPA). This is expected to significantly increase the demand for industrial gaskets in this region.

Challenge: Volatility of raw material prices

The major raw materials used for the manufacturing of industrial gaskets are rubber, silicone, stainless steel, aluminum, bronze, titanium, and PTFE. These raw materials are available in abundance in some regions while other countries are totally relying on imports from these countries. Therefore, the volatility of raw material prices is one of the main factors hampering the growth of the industrial gaskets market globally.

The semi metallic material type segment is estimated to lead the overall industrial gaskets market in 2020.

The semi-metallic segment is the largest material type segment. It is expected to be the second highest-growing segment of the global industrial gaskets market. The growth of semi-metallic material is majorly driven by the increasing demand from chemical processing, industrial machinery, food & pharmaceutical, and pulp & paper industries. These gaskets are suitable for medium and high pressure applications. Spiral wound gaskets, corrugated, jacketed, and kammprofile gaskets are the most preferred product types in the semi-metallic industrial gaskets segment.

Soft Gaskets product type to be largest segment of industrial gaskets market in 2020.

The soft gaskets product type is estimated to account for the largest share during the forecast period. 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.

>The refineries to be the largest consumer of industrial gaskets.

Industrial gaskets find applications in various industries, such as refineries, chemical processing, power generation, food & pharmaceutical, industrial machinery, and pulp & paper. 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.

APAC is projected to be the fastest growing industrial gaskets market during the forecast period.

APAC was the largest market for industrial gaskets in 2019 and is also expected to be the fastest-growing market during the forecast period. The industrial gaskets market in APAC is mainly driven by the growth in end-use industries in this region. The future trends in the market would largely depend on the regulations, availability of raw material, and investments in end-use industries. 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. Moreover, in China, the industrial gaskets market is growing rapidly due to high demand from the refining and chemical processing industries. China has some of the largest refineries in the world, and also accounts for the second-largest refining capacity in the world.

Industrial Gaskets Market  by Region

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Key Market Players

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. These companies have adopted various organic as well as inorganic growth strategies between 2016 and 2020 to enhance their regional presence and meet the growing demand for industrial gaskets from emerging economies.

Scope of the report

Report Metric

Details

Years considered for the study

  • 2018–2025

Base year

2019

Forecast period

2020–2025

Units considered

Value (USD Million)

Segments

Material Type, Product Type, End-use industry, and Region

Regions

APAC, Europe, North America, South America, and Middle East & Africa.

Companies

Total of 10 major players covered:
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).

This research report categorizes the industrial gaskets market based on material type, product type, end-use industry, and region.

Based on Material Type:

  • Semi Metallic
  • Non-Metallic
  • Metallic

Based on the Product Type:

  • Soft Gasket
  • Spiral Wound Gasket
  • Ringjoint Gasket
  • Kammprofile Gasket
  • Jacketed Gasket
  • Corrugated Gasket
  • Others

Based on the end-use industry:

  • Refineries
  • Power Generation
  • Chemical Processing
  • Industrial Machinery
  • Pulp & Paper
  • Food & Pharmaceutical
  • Others

Based on the region:

  • APAC
  • Europe
  • North America
  • Middle East & Africa
  • South America

Recent Developments

  • In February 2020, Klinger South Africa opened a new branch in Mossel Bay. The branch is established to provide potential and existing customers in South Africa with field servicesKlinger South Africa opened a new branch in Mossel Bay. The branch is established to provide potential and existing customers in South Africa with field services.
  • In March 2020, Klinger acquired Swiss Aargau-based companies FRANZ GYSI and GYSI Dichtung stechnik. The acquisition will help to accelerate its R&D and will provide continuous investments in its portfolio
  • In July 2020, Lamons launched DEFENDER HF gasket for highly corrosive applications such as hydrofluoric acid. With this development, the company enhanced the strength of its product portfolio.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 23)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 MARKET SCOPE
           1.3.1 INDUSTRIAL GASKETS MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 STAKEHOLDERS
    1.6 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 26)
    2.1 RESEARCH DATA
           FIGURE 1 INDUSTRIAL GASKETS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key industry insights
                    2.1.2.3 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
    2.3 INDUSTRIAL GASKETS MARKET: STUDY APPROACH
           2.3.1 INDUSTRIAL GASKETS- MARKET SIZE ESTIMATION (SUPPLY SIDE APPROACH)
           2.3.2 INDUSTRIAL GASKETS- MARKET SIZE ESTIMATION (PARENT MARKET APPROACH)
    2.4 FORECAST NUMBER CALCULATION
           2.4.1 SUPPLY SIDE
           2.4.2 DEMAND SIDE
           2.4.3 RESEARCH METHODOLOGY PROCESS
    2.5 DATA TRIANGULATION
           FIGURE 2 INDUSTRIAL GASKETS MARKET: DATA TRIANGULATION
           2.5.1 INDUSTRIAL GASKETS MARKET ANALYSIS THROUGH PRIMARY INTERVIEWS
                    FIGURE 3 INDUSTRIAL GASKETS MARKET ANALYSIS THROUGH SECONDARY SOURCES
    2.6 FACTOR ANALYSIS
    2.7 ASSUMPTIONS
    2.8 LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 38)
    3.1 INTRODUCTION
           FIGURE 4 SOFT GASKETS TO BE THE LARGEST AND FASTEST-GROWING PRODUCT TYPE BETWEEN 2020 AND 2025
           FIGURE 5 SEMI-METALLIC GASKETS TO BE THE LARGEST MATERIAL TYPE BETWEEN 2020 AND 2025
           FIGURE 6 REFINERIES TO BE THE FASTEST GROWING END-USE INDUSTRY BETWEEN 2020 AND 2025
           FIGURE 7 APAC TO LEAD THE MARKET BETWEEN 2020 AND 2025

4 PREMIUM INSIGHTS (Page No. - 43)
    4.1 ATTRACTIVE OPPORTUNITIES IN INDUSTRIAL GASKETS MARKET
                    FIGURE 8 INCREASE IN FUGITIVE EMISSIONS AND BAN ON ASBESTOS ARE CREATING OPPORTUNITIES FOR INDUSTRIAL GASKETS MARKET GROWTH
    4.2 INDUSTRIAL GASKETS MARKET, BY MATERIAL TYPE
           FIGURE 9 APAC TO BE THE LARGEST MARKET FOR NON-METALLIC AND SEMI-METALLIC SEGMENTS
    4.3 INDUSTRIAL GASKETS MARKET, BY PRODUCT TYPE
           FIGURE 10 SOFT GASKET TO BE THE LARGEST PRODUCT TYPE FROM 2020 TO 2025
    4.4 INDUSTRIAL GASKETS MARKET, BY END-USE INDUSTRY
           FIGURE 11 REFINERIES TO BE THE LARGEST END-USE INDUSTRY ACROSS ALL REGIONS
    4.5 INDUSTRIAL GASKETS MARKET, BY REGION
           FIGURE 12 INDIA TO RECORD THE HIGHEST CAGR DURING THE FORECAST PERIOD
    4.6 APAC INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY AND COUNTRY, 2019
           FIGURE 13 REFINERIES SEGMENT AND CHINA ACCOUNTED FOR LARGEST SHARES

5 MARKET OVERVIEW (Page No. - 46)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 14 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN INDUSTRIAL GASKETS MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Wide applications of industrial gaskets in various end-use industries
                    5.2.1.2 Growing demand from oil & gas production-related facilities in GCC countries
                    5.2.1.3 Increasing consumption of PTFE gaskets
                    5.2.1.4 Stringent leakage regulations implemented by the Environmental Protection Agency to prevent damage to the environment
           5.2.2 RESTRAINTS
                    5.2.2.1 Consumption of low-cost asbestos-based gaskets in emerging countries
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing number of refineries in APAC
           5.2.4 CHALLENGES
                    5.2.4.1 Volatility of raw material prices
                               FIGURE 15 AVERAGE CRUDE OIL PRICES PER BARREL (2015–2020)
    5.3 TECHNOLOGY ANALYSIS
    5.4 PRICE ANALYSIS
           FIGURE 16 AVERAGE SELLING PRICE OF INDUSTRIAL GASKETS
    5.5 PATENT ANALYSIS
           5.5.1 METHODOLOGY
                    5.5.1.1 Total patents for industrial gasket product types
                               FIGURE 17 GRANTED VS. APPLIED PATENTS
                               FIGURE 18 PUBLICATION TRENDS - LAST 6 YEARS
           5.5.2 INSIGHTS
           5.5.3 JURISDICTION ANALYSIS
                    FIGURE 19 ANALYSIS BY COUNTRIES
                    5.5.3.1 List of some patents
    5.6 TRADE ANALYSIS
           TABLE 1 MAJOR IMPORTERS – INDUSTRIAL GASKETS
           TABLE 2 MAJOR EXPORTERS – INDUSTRIAL GASKETS
    5.7 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 20 PORTER’S FIVE FORCES ANALYSIS OF INDUSTRIAL GASKETS MARKET
           5.7.1 THREAT OF NEW ENTRANTS
           5.7.2 THREAT OF SUBSTITUTES
           5.7.3 BARGAINING POWER OF SUPPLIERS
           5.7.4 BARGAINING POWER OF BUYERS
           5.7.5 INTENSITY OF COMPETITIVE RIVALRY
    5.8 VALUE CHAIN ANALYSIS
           FIGURE 21 VALUE CHAIN ANALYSIS OF INDUSTRIAL GASKETS
           5.8.1 RAW MATERIAL SUPPLIERS
           5.8.2 SHEET MANUFACTURERS
           5.8.3 GASKET MANUFACTURERS
           5.8.4 END USERS
    5.9 ECONOMIC INDICATORS
           5.9.1 INDUSTRY OUTLOOK
                    5.9.1.1 Real GDP growth rate and per capita GDP of major economies
                               TABLE 3 ANNUAL PERCENT CHANGE OF REAL GDP GROWTH RATES FROM 2016 TO 2021
                    5.9.1.2 Refinery
                               FIGURE 22 PROJECTED INVESTMENT IN REFINING SECTOR PER REGION 2019 - 2040
                               FIGURE 23 GLOBAL REFINING CAPACITY, AS OF 2018
                    5.9.1.3 Original Equipment Manufacturers (OEMs)
                               FIGURE 24 MANUFACTURING INDUSTRY CONTRIBUTION TO GDP, 2017
                    5.9.1.4 Power generation
                               FIGURE 25 CHANGE IN PRIMARY ENERGY DEMAND, 2016–2040, MILLION TONS OF OIL EQUIVALENT (MTOE)
                    5.9.1.5 Chemical
                    5.9.1.6 Pulp & paper
    5.10 ECOSYSTEM
           FIGURE 26 INDUSTRIAL GASKETS ECOSYSTEM
    5.11 IMPACT OF COVID-19 ON INDUSTRIAL GASKETS MARKET
           5.11.1 COVID-19
           5.11.2 CONFIRMED CASES AND DEATHS, BY GEOGRAPHY
                    FIGURE 27 PACE OF GLOBAL PROPAGATION OF COVID-19 IS UNPRECEDENTED
           5.11.3 IMPACT ON END-USE INDUSTRIES
                    5.11.3.1 Impact on customers’ output & strategies to improve production
                    5.11.3.2 Customers’ most crucial regions
                    5.11.3.3 Short-term strategies to manage cost structure and supply chains
                    5.11.3.4 Measures taken by customers
    5.12 TARIFFS AND REGULATIONS
    5.13 CASE STUDY
    5.14 ADJACENT/RELATED MARKETS
           5.14.1 INTRODUCTION
           5.14.2 LIMITATIONS
           5.14.3 PHARMACEUTICAL PROCESSING SEALS MARKET
           5.14.4 PHARMACEUTICAL PROCESSING SEALS MARKET OVERVIEW
           5.14.5 PHARMACEUTICAL PROCESSING SEALS MARKET, BY MATERIAL
                    TABLE 4 PHARMACEUTICALS PROCESSING SEALS MARKET SIZE, BY MATERIAL, 2016–2023 (USD MILLION)
                    5.14.5.1 Metals
                    5.14.5.2 PTFE
                    5.14.5.3 Silicone
                    5.14.5.4 Nitrile rubber
                    5.14.5.5 EPDM
                    5.14.5.6 Others
           5.14.6 PHARMACEUTICAL PROCESSING SEALS MARKET, BY TYPE
                    TABLE 5 PHARMACEUTICAL PROCESSING SEALS MARKET SIZE, BY TYPE, 2016–2023 (USD MILLION)
                    5.14.6.1 O-rings
                    5.14.6.2 Gaskets
                    5.14.6.3 Lip Seals
                    5.14.6.4 D Seals
                    5.14.6.5 Others
           5.14.7 PHARMACEUTICAL PROCESSING SEALS MARKET, BY APPLICATION
                    TABLE 6 PHARMACEUTICAL PROCESSING SEALS MARKET SIZE, BY APPLICATION, 2016–2023 (USD MILLION)
                    5.14.7.1 Manufacturing equipment
                    5.14.7.2 Others
           5.14.8 PHARMACEUTICAL PROCESSING SEALS MARKET, BY REGION
                    TABLE 7 PHARMACEUTICAL PROCESSING SEALS MARKET SIZE, BY REGION, 2016–2023 (USD MILLION)
                    5.14.8.1 North America
                    5.14.8.2 APAC
                    5.14.8.3 Europe
                    5.14.8.4 South America
                    5.14.8.5 Middle East & Africa

6 INDUSTRIAL GASKETS MARKET, BY MATERIAL TYPE (Page No. - 79)
    6.1 INTRODUCTION
           FIGURE 28 INDUSTRIAL GASKETS MARKET, BY MATERIAL TYPE, 2020–2025
           TABLE 8 INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
    6.2 SEMI-METALLIC INDUSTRIAL GASKETS
           TABLE 9 OPERATING TEMPERATURE RANGES OF DIFFERENT MATERIALS
           FIGURE 29 NORTH AMERICA ESTIMATED TO BE LARGEST MARKET FOR SEMI-METALLIC GASKETS
           TABLE 10 SEMI-METALLIC INDUSTRIAL GASKETS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
    6.3 NON-METALLIC INDUSTRIAL GASKETS
           FIGURE 30 APAC ESTIMATED TO BE LEADING MARKET FOR NON-METALLIC GASKETS SEGMENT
           TABLE 11 NON-METALLIC INDUSTRIAL GASKETS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
           6.3.1 PTFE INDUSTRIAL GASKETS
           6.3.2 FLEXIBLE GRAPHITE INDUSTRIAL GASKETS
           6.3.3 EPDM INDUSTRIAL GASKETS
           6.3.4 COMPRESSED NON-ASBESTOS GASKETS
           6.3.5 OTHER NON-METALLIC INDUSTRIAL GASKETS
    6.4 METALLIC INDUSTRIAL GASKETS
           FIGURE 31 NORTH AMERICA AND EUROPE ESTIMATED TO BE LEADING MARKETS FOR METALLIC INDUSTRIAL GASKETS
           TABLE 12 METALLIC INDUSTRIAL GASKETS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
           6.4.1 STAINLESS STEEL INDUSTRIAL GASKETS
           6.4.2 ALUMINUM INDUSTRIAL GASKETS
           6.4.3 COPPER INDUSTRIAL GASKETS
           6.4.4 TITANIUM INDUSTRIAL GASKETS
           6.4.5 OTHER INDUSTRIAL GASKETS

7 INDUSTRIAL GASKETS MARKET, BY PRODUCT TYPE (Page No. - 87)
    7.1 INTRODUCTION
           FIGURE 32 INDUSTRIAL GASKETS MARKET OVERVIEW: BY PRODUCT TYPE
           TABLE 13 INDUSTRIAL GASKETS MARKET SIZE, BY PRODUCT TYPE, 2018–2025 (USD MILLION)
    7.2 SOFT GASKETS
    7.3 SPIRAL WOUND GASKETS
    7.4 RING JOINT GASKETS
    7.5 KAMMPROFILE GASKETS
    7.6 JACKETED GASKETS
    7.7 CORRUGATED GASKETS
    7.8 OTHER GASKETS
           7.8.1 O-RING GASKETS
           7.8.2 COMPRESSED ASBESTOS FIBER

8 INDUSTRIAL GASKETS MARKET, BY END-USE INDUSTRY (Page No. - 93)
    8.1 INTRODUCTION
           FIGURE 33 INDUSTRIAL GASKETS MARKET, BY END-USE INDUSTRY, 2020 & 2025 (USD MILLION)
           TABLE 14 INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018-2025 (USD MILLION)
    8.2 REFINERIES
           8.2.1 LARGEST CONSUMER OF INDUSTRIAL GASKETS
    8.3 POWER GENERATION
           8.3.1 SPIRAL WOUND GASKETS WIDELY USED IN POWER GENERATION INDUSTRY
    8.4 CHEMICAL PROCESSING
           8.4.1 INDUSTRIAL GASKETS USED FOR LEAKAGE PREVENTION IN CHEMICAL INDUSTRIES
    8.5 INDUSTRIAL MACHINERY
           8.5.1 PRESSURE, TEMPERATURE, AND CHEMICAL COMPATIBILITY DETERMINE THE TYPE OF GASKET USED IN INDUSTRIAL MACHINERY
    8.6 PULP & PAPER
           8.6.1 PTFE GASKETS MOST UTILIZED GASKETS IN THIS INDUSTRY
    8.7 FOOD & PHARMACEUTICAL
           8.7.1 GASKETS USED IN FOOD & PHARMACEUTICALS ARE SUBJECT TO STRINGENT REGULATIONS
    8.8 OTHERS
           8.8.1 TEXTILES
           8.8.2 WATER TREATMENT

9 INDUSTRIAL GASKETS MARKET, BY REGION (Page No. - 98)
    9.1 INTRODUCTION
           FIGURE 34 APAC TO BE THE LARGEST AND FASTEST-GROWING INDUSTRIAL GASKETS MARKET
           TABLE 15 INDUSTRIAL GASKETS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
    9.2 APAC
           FIGURE 35 APAC: INDUSTRIAL GASKETS MARKET SNAPSHOT
           TABLE 16 APAC: INDUSTRIAL GASKETS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
           TABLE 17 APAC: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           TABLE 18 APAC: INDUSTRIAL GASKETS MARKET SIZE, BY PRODUCT TYPE, 2018–2025 (USD MILLION)
           TABLE 19 APAC: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
           9.2.1 CHINA
                    9.2.1.1 Growing number of industries to propel the market
                    TABLE 20 CHINA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 21 CHINA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.2.2 INDIA
                    9.2.2.1 New government initiatives to drive the market
                               TABLE 22 INDIA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 23 INDIA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.2.3 JAPAN
                    9.2.3.1 Local investments in the oil refining industry to drive the industrial gaskets market in Japan
                               TABLE 24 JAPAN: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 25 JAPAN: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.2.4 SOUTH KOREA
                    9.2.4.1 South Korea’s economic growth to drive the industrial gaskets market
                               TABLE 26 SOUTH KOREA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 27 SOUTH KOREA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.2.5 THAILAND
                    9.2.5.1 High amount of oil imports to increase the demand
                               TABLE 28 THAILAND: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 29 THAILAND: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.2.6 AUSTRALIA
                    9.2.6.1 Food & beverage industry to boost the demand
                               TABLE 30 AUSTRALIA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 31 AUSTRALIA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.2.7 REST OF APAC
                    TABLE 32 REST OF APAC: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                    TABLE 33 REST OF APAC: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
    9.3 NORTH AMERICA
           FIGURE 36 NORTH AMERICA: INDUSTRIAL GASKETS MARKET SNAPSHOT
           TABLE 34 NORTH AMERICA: INDUSTRIAL GASKETS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
           TABLE 35 NORTH AMERICA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           TABLE 36 NORTH AMERICA: INDUSTRIAL GASKETS MARKET SIZE, BY PRODUCT TYPE, 2018–2025 (USD MILLION)
           TABLE 37 NORTH AMERICA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
           9.3.1 US
                    9.3.1.1 The US is the most mature industrial gaskets market in the region
                               TABLE 38 US: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 39 US: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.3.2 CANADA
                    9.3.2.1 Regulations driving the growth in demand for industrial gaskets
                               TABLE 40 CANADA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 41 CANADA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.3.3 MEXICO
                    9.3.3.1 Increased foreign investments in the oil & gas industry to boost the market
                               TABLE 42 MEXICO: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 43 MEXICO: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
    9.4 EUROPE
           FIGURE 37 EUROPE: INDUSTRIAL GASKETS MARKET SNAPSHOT
           TABLE 44 EUROPE: INDUSTRIAL GASKETS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
           TABLE 45 EUROPE: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           TABLE 46 EUROPE: INDUSTRIAL GASKETS MARKET SIZE, BY PRODUCT TYPE, 2018–2025 (USD MILLION)
           TABLE 47 EUROPE: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
           9.4.1 GERMANY
                    9.4.1.1 Strong industrial base likely to drive the industrial gaskets market
                               TABLE 48 GERMANY: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 49 GERMANY: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.4.2 UK
                    9.4.2.1 Growth of refineries and chemical industries to spur the market
                               TABLE 50 UK: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 51 UK: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.4.3 FRANCE
                    9.4.3.1 Well-developed industrial infrastructure expected to fuel the market growth
                               TABLE 52 FRANCE: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 53 FRANCE: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.4.4 ITALY
                    9.4.4.1 Rapid industrialization to drive the demand for industrial gaskets
                               TABLE 54 ITALY: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 55 ITALY: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.4.5 RUSSIA
                    9.4.5.1 Increasing industrial output to drive the market
                               TABLE 56 RUSSIA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 57 RUSSIA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.4.6 SPAIN
                    9.4.6.1 Growth of oil refining industries expected to boost the market
                               TABLE 58 SPAIN: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 59 SPAIN: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.4.7 NETHERLANDS
                    9.4.7.1 Chemical processing and refinery industries will drive the market
                               TABLE 60 NETHERLANDS: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 61 NETHERLANDS: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.4.8 REST OF EUROPE
                    TABLE 62 REST OF EUROPE: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                    TABLE 63 REST OF EUROPE: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
    9.5 MIDDLE EAST & AFRICA
           TABLE 64 MIDDLE EAST & AFRICA: INDUSTRIAL GASKETS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
           TABLE 65 MIDDLE EAST & AFRICA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           TABLE 66 MIDDLE EAST & AFRICA: INDUSTRIAL GASKETS MARKET SIZE, BY PRODUCT TYPE, 2018–2025 (USD MILLION)
           TABLE 67 MIDDLE EAST & AFRICA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
           9.5.1 SAUDI ARABIA
                    9.5.1.1 The country is witnessing an increasing demand for industrial gaskets in refineries
                               TABLE 68 SAUDI ARABIA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 69 SAUDI ARABIA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.5.2 UAE
                    9.5.2.1 Growth of refineries to spur the demand for industrial gaskets
                               TABLE 70 UAE: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 71 UAE: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.5.3 QATAR
                    9.5.3.1 High exports of crude oil to increase demand
                               TABLE 72 QATAR: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 73 QATAR: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.5.4 SOUTH AFRICA
                    9.5.4.1 Growth in chemical processing industry to drive the market
                               TABLE 74 SOUTH AFRICA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 75 SOUTH AFRICA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.5.5 REST OF MIDDLE EAST & AFRICA
                    TABLE 76 REST OF MIDDLE EAST & AFRICA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                    TABLE 77 REST OF MIDDLE EAST & AFRICA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
    9.6 SOUTH AMERICA
           TABLE 78 SOUTH AMERICA: INDUSTRIAL GASKETS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
           TABLE 79 SOUTH AMERICA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           TABLE 80 SOUTH AMERICA: INDUSTRIAL GASKETS MARKET SIZE, BY PRODUCT TYPE, 2018–2025 (USD MILLION)
           TABLE 81 SOUTH AMERICA INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
           9.6.1 BRAZIL
                    9.6.1.1 Chemical industry to drive the market
                               TABLE 82 BRAZIL: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 83 BRAZIL: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.6.2 ARGENTINA
                    9.6.2.1 Strong growth of industrial sector fueling the market
                               TABLE 84 ARGENTINA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                               TABLE 85 ARGENTINA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)
           9.6.3 REST OF SOUTH AMERICA
                    TABLE 86 REST OF SOUTH AMERICA: INDUSTRIAL GASKETS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
                    TABLE 87 REST OF SOUTH AMERICA: INDUSTRIAL GASKETS MARKET SIZE, BY MATERIAL TYPE, 2018–2025 (USD MILLION)

10 COMPETITIVE LANDSCAPE (Page No. - 142)
     10.1 OVERVIEW
               FIGURE 38 COMPANIES ADOPTED INVESTMENT & EXPANSION AS THE KEY GROWTH STRATEGY BETWEEN 2017 AND 2020
     10.2 MARKET EVALUATION FRAMEWORK
     10.3 MARKET SHARE
               FIGURE 39 TOP 5 COMPANIES DOMINATED THE INDUSTRIAL GASKETS MARKET IN 2019
     10.4 MARKET RANKING
               FIGURE 40 MARKET RANKING OF KEY PLAYERS, 2019
     10.5 REVENUE ANALYSIS
     10.6 KEY MARKET DEVELOPMENTS
             10.6.1 INVESTMENT & EXPANSION
                       TABLE 88 INVESTMENT & EXPANSION, 2017–2020
             10.6.2 MERGER & ACQUISITION
                       TABLE 89 MERGER & ACQUISITION, 2017–2020
             10.6.3 NEW PRODUCT LAUNCH
                       TABLE 90 NEW PRODUCT LAUNCH, 2017–2020
             10.6.4 JOINT VENTURE
                       TABLE 91 JOINT VENTURE, 2017–2020

11 COMPANY EVALUATION MATRIX AND COMPANY PROFILES (Page No. - 150)
     11.1 COMPANY EVALUATION QUADRANT (TIER 1)
             11.1.1 STAR
             11.1.2 EMERGING LEADERS
             11.1.3 PARTICIPANTS
                       FIGURE 41 INDUSTRIAL GASKETS MARKET (TIER 1) COMPETITIVE LEADERSHIP MAPPING, 2019
             11.1.4 STRENGTH OF PRODUCT PORTFOLIO
             11.1.5 BUSINESS STRATEGY EXCELLENCE
     11.2 COMPETITIVE LEADERSHIP MAPPING (START-UP/SMSE)
             11.2.1 PROGRESSIVE COMPANIES
             11.2.2 STARTING BLOCKS
                       FIGURE 42 INDUSTRIAL GASKETS MARKET (START-UP/SMSE) COMPETITIVE LEADERSHIP MAPPING, 2019
             11.2.3 STRENGTH OF PRODUCT PORTFOLIO
             11.2.4 BUSINESS STRATEGY EXCELLENCE
     11.3 COMPANY PROFILES
(Business overview, Products offered, Recent developments, SWOT analysis, MNM view)*
             11.3.1 KLINGER
                       FIGURE 43 KLINGER: COMPANY SNAPSHOT
             11.3.2 TEADIT
             11.3.3 FLEXITALLIC
             11.3.4 GARLOCK
             11.3.5 W.L. GORE
             11.3.6 SPIRA POWER
             11.3.7 LAMONS
             11.3.8 DONIT
             11.3.9 GOODRICH GASKET
               11.3.10 JAMES WALKER
*Business overview, Products offered, Recent developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
               11.3.11 STARTUP/SME PROFILES
                           11.3.11.1 AMG SEALING
                           11.3.11.2 CENTAURO
                           11.3.11.3 DENVER RUBBER COMPANY
                           11.3.11.4 GASKET MANUFACTURING COMPANY
                           11.3.11.5 HENNIG GASKETS & SEALS
                           11.3.11.6 HYDRO SILICA
                           11.3.11.7 IGP
                           11.3.11.8 LEADER GASKET TECHNOLOGIES
                           11.3.11.9 MERCER GASKET & SHIM
                           11.3.11.10 OMAN GASKET FACTORY(OGF)
                           11.3.11.11 PHELPS INDUSTRIAL PRODUCTS
                           11.3.11.12 PIDEMCO
                           11.3.11.13 SMITH GASKETS
                           11.3.11.14 SPITMAAN
                           11.3.11.15 TEMAC

12 APPENDIX (Page No. - 171)
     12.1 DISCUSSION GUIDE
     12.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     12.3 AVAILABLE CUSTOMIZATIONS
     12.4 RELATED REPORTS
     12.5 AUTHOR DETAILS

The study involves four major activities in estimating the current market size of industrial gaskets. Extensive secondary research was carried out to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methodologies were used to estimate the market size of the segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources, such as Factiva, Hoovers and Bloomberg BusinessWeek, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; gold standard & silver standard websites; regulatory bodies; and databases.

Primary Research

The industrial gaskets market comprises several stakeholders, such as raw material suppliers, manufacturers, and distributors of industrial gaskets, industry associations, end-users, and regulatory organizations in the supply chain. The demand side of this market consists of major refinery and chemical processing companies, whereas the supply side consists of industrial gaskets manufacturers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary interviews

Industrial Gaskets Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the industrial gaskets market. These methods were also used extensively to estimate the size of various subsegments of the market. The research methodology used to estimate the market size includes the following:

  • The key players in the market were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value and volume were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. Data was triangulated by studying various factors and trends from both the demand and supply sides.

Objectives of the Study:

  • To define and analyze the industrial gaskets market size, in terms of value.
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the market growth
  • To analyze and forecast the market by material type, product type, end-use industry, and region
  • To forecast the size of the market with respect to five regions; Asia Pacific (APAC), Europe, North America, South America, and the Middle East & Africa, along with their key countries
  • To strategically analyze micro markets with respect to individual trends, growth prospects, and their contribution to the overall market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To analyze competitive developments in the market, investments & expansions, mergers & acquisitions, new product launches, and joint ventures.
  • To strategically profile key players and comprehensively analyze their market shares and core competencies

Available Customizations:

MarketsandMarkets offers customizations according to the specific needs of the companies, along with the market data. The following customization options are available for this report:

Product Analysis

  • A product matrix that provides a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Rest of APAC industrial gaskets market

Company Information:

  • Detailed analysis and profiles of additional market players.
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