Industrial Gaskets Market Is Expected to Witness an Incredible Growth by 2027 with COVID -19 Impact
Industrial gaskets are mechanical fixing gadgets used to satisfy abnormalities in mating surfaces. Various sorts of industrial gaskets incorporate winding injury gaskets, delicate gaskets, ring joint gaskets, folded gaskets, and jacketed gaskets. They are utilized for forestalling spillage. Different industrial gaskets from driving producers adjust to specific global regulations and might be of metallic or semi-metallic material sort.
ChemIntel360’s global Industrial Gaskets Market study is a 200+ slide report containing in-depth analysis on historical and forecasted spending and consumption patterns in the sector. We offer granular value and volume data from a global, regional, and end use industry perspective. The industry is expected to grow at a CAGR of 5.2% mainly due to growing demand for Industrial Gaskets for different uses such as heat exchangers in refineries and piping which is expected to bolster the market over the forecast period.
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Industrial gaskets, alongside other fixing arrangements, possess a vital situation in fix, support, and tasks (MRO) applications in various areas of the planet. Modern gaskets are fabricated from sinewy material, elastomers, metal, and delicate materials like PTFE. Industrial gaskets are predominately utilized in a few ventures including power age, synthetic handling, petrochemical and remote ocean, oil and gas, mining, military, aviation, and some more.
Scope
This study contains global and regional market size data. The numbers are broken down by end use industry (Refineries, Power Generation, Chemical Processing, Industrial Machinery, Pulp and Paper, Food and Pharmaceutical and Others), by Type (Semi-metallic, Non-metallic, Metallic). The historical period runs through 2015-2020 and the forecasted period from 2021-2026.
Market Overview
The global Industrial Gaskets market, which grew from US$X.X billion in 2015 to US$X.X billion in 2019, dropped marginally to US$XX billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.X billion and increase to US$X.X billion in 2026 at a CAGR of X.X%. Cumulatively the market is expected to value US$X.X billion during the forecast period as compared to US$X.X billion during the historical period.
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Key Players
Top players operating in the industrial gaskets market include Hennig Gasket & Seals, Inc., Lamons Gasket Co., Flexitallic, Spira Power, and Teadit N.A., Inc.
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