Mar 7, 2018 SOURCE: BusinessWire

Industrial Gaskets Market - Global Forecast to 2022 - ResearchAndMarkets.com

The "Industrial Gaskets Market by Material (Semi-metallic, Non-metallic, Metallic), Product Type (Soft Gasket, Spiral Wound Gasket, Ring Joint Gasket), End-use Industry (Refineries, Power Generation, Chemical Processing) & Region- Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The Industrial Gaskets Market is Projected to Grow from USD 8.86 Billion in 2017 to USD 11.58 Billion By 2022, at a CAGR of 5.5% from 2017 to 2022.

The wide applications of industrial gaskets in various end-use industries, growing demand from oil & gas production-related facilities in GCC countries, increasing consumption of PTFE gaskets, and stringent leakage regulations implemented by the EPA (Environmental Protection Agency) to prevent damage to the environment are the key factors driving the growth of the industrial gaskets market across the globe. However, the consumption of low-cost asbestos-based gaskets in emerging countries acts as a restraint to the growth of the industrial gaskets market.

The non-metallic material type segment of the industrial gaskets market is projected to grow at the highest CAGR during the forecast period. Polytetrafluoroethylene (PTFE) is the most preferred material in the non-metallic gaskets segment. This is mainly due to the material's ability to repel water, provide excellent thermal insulation and resistance to most chemicals, and ability to operate in extreme temperatures.

The soft gasket product type segment of the industrial gaskets market is projected to grow at the highest CAGR during the forecast period. Soft gaskets help in reducing maintenance cost and provides high compressibility in extreme conditions & high temperature in various application areas in different end-use industries.

The refineries end-use industry segment of the industrial gaskets market is projected to grow at the highest CAGR from 2017 to 2022. Industrial gaskets are being used extensively in the refinery and oil & gas industries to provide reliable sealing and adhere to leakage regulations set by regulatory authorities. Gaskets also enhance operational efficiency by reducing expenses on maintenance, monitoring, and repair.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industrial Gaskets Market, By Material Type

7 Industrial Gaskets Market, By Product Type

8 Industrial Gaskets Market, By End-Use Industry

9 Industrial Gaskets Market, By Region

10 Competitive Landscape

11 Company Profiles