The global high temperature gasket materials market was valued at US$ 18.9 Billion in 2017, according to High Temperature Gasket Materials Market Report, by Material Type (Fluorosilicone, Silicon, Graphite, Fiber glass, Mica, Teflon, Mica, Stainless Steel & alloy, UHT Liquid Gasket Materials, Nitrile Rubber, Thermiculite, and Others) and by Design Type (Kammprofile, Spiral Wound, Double-jacketed, Fishbone, and Others).
The global high temperature gasket materials market is projected to reach US$ 30.2 Billion by 2025, exhibiting a CAGR of 6.3% during the forecast period. High temperature gaskets are widely used in the presence of high temperature and high pressure, saturated steam and hot oils. Increasing demand for high temperature gaskets from various industries such as aerospace, petrochemicals, and oil & gas is driving growth of the global high temperature gasket materials market.
Moreover, significant investment in the energy sector is fuelling growth of high temperature gasket materials as these materials find applications in coal, gas, hydro, and nuclear power plants. For instance, according to the International Energy Association, global energy investment accounted for 1.8 trillion in 2015. High temperature gasket materials are also used in automotive industry for various applications such as diesel engine valve covers. Therefore, growth in the automotive industry is propelling demand for high temperature gasket materials. According to the International Organization of Motor Vehicle Manufacturers, an International Trade Organization, world motor vehicle sales in 2016 was approximately 95 million, which increased to 97 million in 2017.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 115 market data tables* and 49 figures* on "High Temperature Gasket Materials Market” - Global forecast to 2025.
Key Trends and Analysis of the High Temperature Gasket Materials Market:
- Graphite material segment held a dominant position in the global high temperature gasket market in 2017. High demand for graphite material is due to its ability to withstand high temperatures, corrosion resistant and good mechanical strength. Graphite gaskets can withstand temperatures from -400°F to +875°F, resist chemical attack, and provide excellent dimensional stability.
Key Takeaways of the Market:
- Asia Pacific held a dominant market share of 48.2% in 2017 in the global high temperature gasket materials market. China accounted for the highest market share in Asia Pacific high temperature gasket materials market in 2017.
- High temperature gaskets are widely used in chemical processing industries for high pressure and temperature applications. Growth in chemical processing industry is a major driver for demand of high temperature gaskets in Asia Pacific region thereby fuelling growth of high temperature gasket materials market. According to the European Chemical Industry Council, a trade association of Europe, chemical sales in China was US$ 1,480.31 billion in 2015 which increased to US$ 1,539.29 billion in 2016. Moreover, China was the dominant chemical processing industry in 2017.
- Furthermore, growth in food processing sector is driving the market in Asia Pacific region as high temperature gaskets made of silicon and PTFE are used in food processing. According to India Brand Equity Foundation, Department of Commerce, Government of India, the food processing sector in India is estimated to reach US$ 482 billion by 2020 from US$ 258 billion in 2015.
- Major players operating in the global high temperature gasket materials market include, 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 – PrzemysÅ‚owe, 3M Company, Advanced Sealing Inc., Hoosier Gasket Corporation, British Gasket Limited, Klinger Limited, and Permatex, Inc.