The global hightemperature gaskets market features a largelyfragmented and thus intensely competitive vendor landscape, according to arecent report by Transparency Market Research. While manufacturing techniqueshave changed over the years for high temperature gaskets, leaders havemaintained their positions by adopting latest techniques, establishing a largeinventory of materials, and competitive pricing. The market is expected toremain competitive in the years to come as well, with focus on strategiccollaborations expected to rise as companies look to consolidate theirpositions in lucrative regional markets.
Some of thekey companies in the market are Flexitallic Group, Garlock, Teadit Group,Spetech, Hennig Gasket & Seals Inc., IGS Industries, Kommerling UK Ltd. 3M,Henkel Adhesives, National Engineering Products Inc., and Advanced Sealing.
Accordingto the report, the global high temperature gaskets market was valued atUS$20,399.9 mn in 2016 and is projected to reach US$31,640.0 mn by 2025. Thistranslates into a CAGR of 5.1% from 2017 to 2025.
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GraphiteTakes Up Significant Share in Overall Demand
Of the keyvarieties of materials used for manufacturing high temperature gaskets, thesegment of graphite accounted for nearly 16% share of the global hightemperature gasket market in 2016 in terms of volume. This can be attributed toits properties of flexibility and resilience at high temperatures. Currently,liquid gasket sealant for ultra-high temperature constituted minimum share ofthe market. However, the segment is anticipated to expand significantly duringthe forecast period.
Geographically,Asia Pacific accounted for more than 50% of the global high temperature gasketsmarket in 2016, in terms of volume as well as value. It is likely to offersignificant potential to the high temperature gaskets market in the nearfuture, with China being the dominant country. Presence of a large number oftransportation companies, power generation plants, and chemical processingplants in China will aid its growth.
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Revival in Automotive Industry toProvide Ample Growth Opportunities
The marketcould benefit from steady growth opportunities in some of the key end-useindustries such as power generation, oil and gas, transportation, and chemicalprocessing. Emerging economies in regions such as Asia Pacific and LatinAmerica have witnessed a vast rise in power generation infrastructure set-upactivities. In advanced economies, demand is instead driven due to the rise inpower generation infrastructure maintenance activities. Revival in theautomotive industry across established and emerging markets is also likely topresent growth opportunities for players.
Recovery inoil prices and increase in demand for maintenance of oil field equipment areanticipated to boost the high temperature gaskets market in regions with anestablished oil and gas sector, such as the Middle East and Africa region.Ultra high temperature liquid gaskets are gaining market acceptance in theregion due to their compactness in use for drilling equipment where the designof the flanges is critical.
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