North America Gaskets Market Growing with a CAGR of 4.3%, Future Growth
North America 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 4.3% in the forecast period of 2023 to 2030 and is expected to reach USD 9,139.73 million by 2030. The major factor driving the growth of the gaskets is the rising demand from the automobile industry. Industrial gaskets have wider applications in various end-use sectors expected to drive market growth.
The North America gaskets market report provides details of market share, new developments, and the impact of domestic and localized market players, and analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue-impact solution to achieve your desired goal.
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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.
North
America Gaskets Market Scope
The North America 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 North America 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 North America Gaskets market is
classified into eight segments automotive, electrical, industrial
manufacturing, oil and gas, aerospace, marine and rail, paper and pulp
industry, and others.
North America Gaskets Market Share Analysis
North America 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 on the North
America Gaskets market.
Some of the major players operating in the North America 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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North America Gaskets Market Regional Analysis/Insights
The North America gaskets market is segmented on the basis of
type and industry.
The countries in the North America gaskets market are the U.S.,
Canada and Mexico.
The U.S. is dominating the North America 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 North America
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.
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