HIGH TEMPERATURE GASKET MATERIALS MARKET ANALYSIS

High Temperature Gasket Materials Market, By Material Type (Fluorosilicone, Silicon, Graphite, Fiber glass, Mica, Teflon, Mica, Stainless Steel & alloy, UHT Liquid Gasket Materials, Nitrile Rubber, Thermiculite, and Others) and By Gasket Type (Kammprofile, Spiral Wound, Double-jacketed, Fishbone, and Others), By Region (North America, Europe, Asia-pacific, Latin America, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jan 2023
Code : CMI2138
Pages :114
Formats :
Excel and PDF
Industry : Advanced Materials

Market Challenges And Opportunities

Drivers

The major factor driving the growth of the high-temperature gasket materials market is the recovery in oil prices, which is also aiding the establishment and expansion of refineries. After witnessing a sharp decline in the oil and gas prices over the past few years, the oil prices have started recovering, which is resulting in fresh investments for facility expansion in the oil and gas industry. Thus, expansion and development in refinery projects are expected to have a positive influence on the market in the coming years.

Market Restraints

Political uncertainties having a negative impact on the global industrial manufacturing capacity can be viewed as a major factor restraining the growth of the high-temperature gasket materials market. Over the recent years, issues such as trade war and protectionism have dented industrial production globally, particularly in emerging economies. The prospect of the potential slowdown in industrial activities has halted the expansion plans of many product manufacturers. This has impacted the sales of gaskets used in different manufacturing facilities

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 2021 and 2030.