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%. The demand for industrial gaskets is increasing, owing to growing demand from oil & gas production-related facilities in GCC countries, and stringent leakage regulations implemented by the Environmental Protection Agency to prevent damage to the environment.
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.
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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.
Related Reports:
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
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