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.
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