High Temperature Gasket Materials Market

High Temperature Gasket Materials Market - Size,
Share, Trends, and Forecast to 2025
Gaskets manufactured from high temperature materials are designed for applications
involving, exhaust, combustible fluids, flame, and elevated temperatures. High
temperature materials such as graphite, fluorosilicone, polytetrafluoroethylene, and
fiberglass provide high reliability seals at high temperatures where traditional gasket
materials are ineffective. These materials are used in gaskets for handling
temperatures from 350°F to 2300°F.
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High temperature gasket materials are utilized in chemical & petrochemical
refineries, industrial fluid sealing, steam service, thermal, electronic &
electrochemical applications, medical & food production, industrial processes,
foundries, heat exchangers, and others. Such wide variety of applications of high
temperature gasket materials is driving growth of the global of high temperature
gasket materials market.
Furthermore, significant growth in industries such as oil & gas, transportation,
electrical, and electronics, which requires gasket materials that are resistant to high
temperatures and pressures is driving growth of this market. For instance, according
to the India Brand Equity Foundation (IBEF), Government of India, electronics
market in India is expected to grow at a compound annual growth rate of 24.4%
between 2012 and 2020.
The global high temperature gasket materials market was valued at US$ 18.9 billion
in 2017 and is anticipated to register a CAGR of 6.3% in terms of revenue, over the
forecast period (2017 – 2025), to reach US$ 30.2 billion by 2025.
Asia Pacific held highest market share of 48.2% in 2017, owing to significant growth
in industrial sectors such as chemical & petrochemical industry and power
generation. According to International Energy Association, total electricity production
in China in 2012 was 4,937 TWh which increased to 5,920 TWh in 2016.
Asia Pacific has easy availability of materials such as graphite and silicon among
others, which are required for the production of high temperature gasket materials.
According to the U.S. Geological Survey, China accounted for 65% of graphite
mining and 35% of consumption worldwide, in 2017. Furthermore, India was the
world’s second-largest producer of graphite in 2017, according to the U.S.
Geological Survey.
High temperature gasket materials market in North America is growing at significant
pace during the forecast period. Moreover, the U.S. held dominant position in the
high temperature gasket materials market in North America in 2017. This is owing to
significant demand for these materials from the transportation industry. According to
the U.S. census Bureau, sales of car and car parts reached US$ 1 trillion in 2014
and increased by 6.5% as compared to 2013.
Europe accounted for a significant market share in the global high temperature
gasket materials market. Germany, France, and the U.K. were the major contributors
to the demand for high temperature gasket materials in chemical processing
industries. According to the European Chemical Industry Council (Cefic), total
chemical sales in Europe in 2016 was US$ 694 billion in 2016 and was the second
largest market in 2016. The report further stated that the total value of chemical
sales in Europe is witnessing a significant growth. Such growth in the chemical
sector is fuelling demand for high temperature gasket materials in Europe.
Key players operating in the global high temperature gasket materials market are
adopting various growth strategies such as mergers and acquisitions to expand its
business. For instance, in August 2018, Lydall, Inc. announced its plans to acquire
Interface Performance Materials, a manufacturer of gaskets and specialty chemicals
for $265 million to expand its product portfolio.
Major players operating in the global high temperature gasket materials market
include, Auburn Manufacturing, Inc., TEADIT International Produktions GmbH,
Flexitallic Group, Inc., Atlantic Gasket Corporation, San Diego Seal, Inc., Garlock
Sealing Technologies, Spetech Sp. z o.o. Uszczelnienia Techniczne – Przemysowe,
3M Company, Advanced Sealing Inc., Hoosier Gasket Corporation, British Gasket
Limited, Klinger Limited and Permatex, Inc.
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The global high temperature gasket materials market was valued at US$ 18.9 billion in 2017 and is anticipated to register a CAGR of 6.3% in terms of revenue, over the forecast period (2017 – 2025), to reach US$ 30.2 billion by 2025.

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