Global High Temperature Gaskets Market: Overview
Gaskets are materials or combination of materials which are used to provide a seal between two stationary parts. High temperature gaskets are used where the application temperature exceeds 700C. Applications with high temperatures, intense heat, and high pressures can lead to gasket failure if wrong material is used for the design of gasket. Material selection plays a crucial role in gasket selection. Each application has its own set of gasket design criteria. In most industrial products, specialized gaskets are employed in many unique applications and specialty equipment.
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Liquid gaskets are applied to one of the mating surfaces before part is assembled. They act as a sealant and spread between the surfaces and form durable seal once it is cured. Liquid gaskets, available in various sizes and shapes, are considered a major alternative for traditional gaskets.
Asia Pacific dominated the high temperature gaskets market both in terms of volume and value and is likely to remain dominant during the forecast period with a significant CAGR compare to other regions. China is the manufacturing hub in the world with a presence of large number of transportation companies, power generation plants, chemical processing plants, etc. wherein there is perpetual demand for high temperature gaskets.
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Recovery of transportation sector and rise in number of projects related to power generation in Asia Pacific region are the major factors which are anticipated to drive the high temperature gaskets market during the forecast period. Currently, the global automotive industry is in a much better shape as compared to five years ago. Increase in technology and preference toward eco-friendly vehicles has driven the demand for high temperature gaskets. The aerospace industry is also witnessing expansion as the population traveling by air continues to rise, which is estimated to create a strong demand for new and reconditioned jets which in turn poise to increase the demand for high temperature gaskets.
This report analyzes and forecasts the market for high temperature gaskets market at the global and regional level. The market has been forecast based on volume (Million Units) and revenue (US$ Mn) from 2016 to 2025, considering 2016 as the base year. The study includes drivers and restraints of the global high temperature gaskets market. It also covers impact of these drivers and restraints on demand for high temperature gaskets market during the forecast period. The report also highlights opportunities in the high temperature gaskets market at the global and regional level.