Industrial gaskets and sealing is widely adopted in oil & gas, mining, electronic, and refining, water treatment, pipelines, and petrochemical industries, which include wide range of engineered applications. Industrial gaskets store energy and seals mating surface that fails to meet perfectly. They fill the gap between two things, usually to avoid leakage between the two items when under compression. Gaskets are made of various metal types which include non-metallic, semi-metallic, and metal gaskets. The function and industrial use of gaskets are often combined. Anti-vibration, mounting, and sealing are three of the most common applications for various types of industrial gaskets. Anti-vibration industrial gaskets can be used on any equipment that creates frequency and vibration.
Market Scope and Structure Analysis
Description
Industrial gaskets are of various types, such as soft, spiral wound, ring joint, and jacketed. Soft gaskets are the most popular product type in a wide range of end-use industries, including chemical processing. In addition, when compared to alternative gaskets, it is less expensive. Soft gaskets materials include polytetrafluoroethylene (PTFE), flexible graphite, elastomers, compressed on-asbestos, and high-temperature sheet. They can be used as heat exchangers, pipe flanges, bonnet valves, and compressors. They are available in a variety of cut forms, as well as in rolls and sheets. Kammprofile gaskets, known as grooved gaskets that have metal core attached to both sides with a soft filler substance. The non-metallic fillers in these composite gaskets are usually graphite or PTFE.
COVID-19 Impact analysis
- The COVID-19 pandemic ceased the production of various products in the industrial gaskets industry, which is attributed to the global lockdown. This has hampered the growth of industrial gaskets market from the last few months and is likely to continue through 2022.
- COVID-19 affected the sales of industrial gaskets in the first quarter of 2022 and is anticipated to have a negative impact on the market growth throughout the year.
- The major demand for industrial gaskets was previously noticed from giant manufacturing countries, such as North America, Europe, Asia-Pacific, and South America, which are negatively affected by the spread of the coronavirus, thereby declining the demand for gaskets.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Industrial gaskets manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
- Industrial gaskets manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distance, and ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Demand for industrial gaskets is increasing due to increased demand in various applications such as piping and heat exchangers in the refineries, oil & gas, and chemical processing industries, and increased investments and production of hydrocarbons, crude oil, and natural gas. Furthermore, gaskets are resistant to pressure and can tolerate various environmental conditions, high temperature, and are able to resist chemicals such as acids and alkaline. These factors are expected to increase the demand for industrial gaskets.
Similarly, an increase in number of refineries in emerging market is expected to enhance demand for industrial gaskets. They are utilized in critical sealing applications in the refining sector to prevent hazardous leakage in high-temperature and high-pressure situations. Industrial gaskets are widely utilized in the refining sector to ensure proper sealing and compliance with regulatory leakage standards. Their usage improves operating efficiency by lowering maintenance, monitoring, and repair costs.
- In December 2021, Klinger expanded its sealing and gaskets product portfolio by acquiring Spiralit. Spiralit offers a wide range of sealing devices for chemical processing, oil & gas sector, and power plants. As a flat gasket portfolio, it offers gasket products such as PTFE and eyelet gaskets. Metal and filler materials can be selected according to the requirements of the project, as well as coated and uncoated spiral wound gaskets are available.
- In March 2021, Donit Tesnit introduced BA-Soft, a highly advanced compressed gasket. It meets the demands of current mechanical applications that combine mounting surface deformation and defect flexibility with adequate thermomechanical performance.
- In November 2020, James Walker has launched new advanced version of Walkersele rotary lip gasket. The new Walkersele X-Gen product addresses the issues posed by the growing size of turbine designs, such as maintaining efficient sealing against deflection shafts or housings, higher offset, and improved sealing force retention around the whole circumference of the sealing face.
Key Benefits of the Report
- This study presents the analytical depiction of the industrial gaskets industry along with the current trends and future estimations to determine the future investment pockets.
- The report presents detailed information related to key drivers, restraints, opportunities, and market share of industrial gaskets.
- A quantitative analysis highlights the industrial gaskets growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed industrial gaskets analysis based on competitive intensity and how the competition will take shape in coming years.
Industrial Gaskets Market Report Highlights
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