For application that functions under consistent temperatures over +750F, high temperature gaskets are essential as maintaining high pressure, intense heat, and hot oils or saturated steam can result in hazardous situations. The market for high temperature gaskets has been around for several decades and vast technological advancements have been made, both in terms of the materials used and the production methods. For instance, graphite laminates can withstand temperatures up to +875F while woven and compressed graphite foil is able to handle temperatures exceeding up to +1400F. Recently, ceramic fiber blankets have been developed as lightweight high temperature insulation resistant works well under chemical attacks and thermal shocks, holding temperatures up to around +2300F.
The prosperity of diverse end-use industries such as oil and gas, power generation, and transportation will ensure a lucrative future for the global high temperature gaskets market, according to a recent business and commerce study by Transparency Market Research (TMR), which has projected the demand to increment at a notable CAGR of 5.1% during the forecast period of 2017 to 2025. The analysts of the report have estimated that the opportunities in the high temperature gaskets market, across the world, will collaborate to a valuation of US$31,640.0 mn by 2025, substantially more than its evaluated valuation of US$20,399.9 mn in 2016.
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Which market segments are showing greater promise?
Based on material, the high temperature gaskets market has been segmented into graphite, fiber glass, fluorosilicone, ceramic, Teflon, mica, stainless steel and allow, silicon, thermiculite, and UHT liquid gasket materials. Among these, the graphite segment provided for the maximum chunk of demand in the global high temperature gaskets market in 2017 and the trend is likely to continue. This strong demand for graphite high temperate gaskets is a reflection of its good chemical resistance and ideality for temperatures up to +977F. However, the UHT liquid gasket materials segment is primed to expand at a stronger growth rate during the forecast period.
Based on product, the market has been bifurcated into non-metallic, semi-metallic, metallic, and UHT liquid gaskets. In 2017, the semi-metallic category provided for the major shares of demand, which was due to easy availability and suitable features of the product. On the other hand, due to its low flexibility and growing adoption of alternatives, the prosperous segment of metallic high temperate gaskets is expected to lose demand share during the course of the forecast period.
Which region is expected to provide for the maximum demand?
The analysts of the TMR report have identified Asia Pacific as the most lucrative region and have projected it to remain so until 2025 too. The Asia Pacific high temperature gaskets market is driven by the prosperity of several end-use industries in the region, such as chemical processing, automotive, and metal refining. While the North American region is expected to provide for moderate share of demand, primarily gaining traction from the transportation sector including aerospace, marine, and automotive industries. The semi-metallic segment is currently posing the strongest demand from this region.
What is the nature of competition among the market leaders?
The analysts of the TMR report have detected a fragmented competitive landscape in the global high temperate gaskets market, identifying Garlock, Flexitallic Group, Henkel Adhesives, Spetech, Teadit Group, Hennig Gasket & Seals Inc., Kommerling UK Ltd., IGS Industries, 3M, Advanced Sealing, and National Engineering Products Inc. as some of the players who are currently ahead of the curve. It is anticipated that the players who have technological expertise and an established inventory of materials will stand in good stead in the near future.