Asia-Pacific Gaskets Market to reach USD 11,330.89 million by 2030, growing with a CAGR of 4.9%, Size
The Asia-Pacific Gaskets market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.9% in the forecast period of 2023 to 2030 and is expected to reach USD 11,330.89 million by 2030. The major factor driving the growth of the Gaskets is the rising demand from the automobile industry, and industrial gaskets have wider applications in various end-use sectors expected to drive the market growth.
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Market Definition
Gaskets seal a connection between two components, and it is used
to fill the empty spaces between two surfaces, which helps to avoid leakage and
wastage of fluids and gas in the application. Gaskets products are mainly used
as static seals. The gaskets are specially designed depending on the type of
equipment and end-use surface. Gaskets will often be cut into a specific shape
to fit the component they are to be fitted to. Gaskets are made of materials
such as metals, industrial-grade rubber, or a combination of both. These are
generally equipped with excellent anti-chemical characteristics,
anti-compressibility properties, high/low temperature and weather resistance,
and superior resistance to heat, water, and abrasion. The growing demand for
automotive gaskets is gaining popularity due to the demand for automobiles.
Recent Development
·
In May 2022, according to Statista, Asia will be
home to the most functioning petroleum refineries in the world. There were 316
such facilities across the continent as of 2021. Asia also has the greatest
number of refinery expansion projects in the works. There are roughly 90
refining plants in the planning or building stages, mostly driven by consumer
demand from economic powerhouses such as China and India
·
In June 20220, Lamons introduced the DEFENDER HF
gasket, which is designed for extremely corrosive applications such as
hydrofluoric acid. With this accomplishment, the organization strengthened its
portfolio.
Asia-Pacific Gaskets Market Scope
The Asia-Pacific
gaskets market is categorized based on type and industry. The
growth amongst two segments will help you analyze major growth segments in the
industries and provide the users with a valuable market overview and market
insights to make strategic decisions to identify core market applications.
Type
·
Contact Gaskets
·
Contactless Gaskets
On the basis of type, the Asia-Pacific gaskets
market is classified into two segments contact gaskets, and contactless
gaskets.
Industry
·
Automotive
·
Electrical
·
Industrial Manufacturing
·
Oil and gas
·
Aerospace
·
Marine and Rail
·
Paper and Pulp Industry
·
Others
On the basis of industry, the Asia-Pacific Gaskets
market is classified into eight segments automotive, electrical, industrial
manufacturing, oil and gas, aerospace, marine and rail, paper and pulp
industry, and others.
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Asia-Pacific Gaskets Market Regional
Analysis/Insights
The Asia-Pacific gaskets market is segmented on the basis of
type and industry.
The countries in the Asia-Pacific Gaskets market are China,
Japan, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines,
Australia & New Zealand, and the Rest of Asia-Pacific.
China is dominating the Asia-Pacific gaskets market in terms of
market share and market revenue due to an increase in demand for the automobile
industry.
The country section of the report also provides individual
market-impacting factors and changes in market regulation that impact the
current and future trends of the market. Data point downstream and upstream
value chain analysis, technical trends, porter's five forces analysis, and case
studies are some of the pointers used to forecast the market scenario for
individual countries. Also, the presence and availability of Asia-Pacific
brands and their challenges faced due to large or scarce competition from local
and domestic brands, the impact of domestic tariffs, and trade routes are
considered while providing forecast analysis of the country
data.
Competitive Landscape and Asia-Pacific Gaskets
Market Share Analysis
Asia-Pacific gaskets market competitive landscape provides
details by competitors. Details included are company overview, company
financials, revenue generated, market potential, investment in research and
development, new market initiatives, production sites and facilities, company
strengths and weaknesses, product launch, product trials pipelines, product
approvals, patents, product width and breadth, application dominance,
technology lifeline curve. The above data points provided are only related to
the companies’ focus related to the Asia-Pacific Gaskets market.
Some of the major players operating in the Asia-Pacific gaskets
market are Freudenberg FST GmbH, IDT GmbH, SSP Manufacturing Inc., A.J. Rubber
& sponge Ltd, BRUSS Sealing Systems GmbH, ElringKlinger AG, Garlock, an
Enpro (NYSE: NPO) Company, Lamons LGC US Asset Holdings, LLC, Trelleborg AB, W.
L. Gore & Associates, Inc., Seal & Design Inc., GE MAO RUBBER
INDUSTRIAL CO., LTD., HELIX ENGINEERING, The Topog-E Gasket Co, and OHIO VALLEY
GASKET INC., among others.
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Uncertainty
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Our analysis
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profit margins. By using our market research, our clients may concentrate on
the most important investment centres.
Identifying and
assessing possible business partners:
Our research and
insights assist our clients in identifying business partners.
Major TOC of the Asia-Pacific Gaskets Market Report
• INTRODUCTION
• MARKET SEGMENTATION
• MARKET OVERVIEW
• EXECUTIVE SUMMARY
• PREMIUM INSIGHTS
• Integrated Passive Device Market
• COMPANY PROFILE
• COMPONENT MANUFACTURER
• CONCLUSION
• QUESTIONNAIRE
• RELATED REPORTS
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