Metallic Gasket Market to observe high growth by 2025
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The growing emphasis on improving the efficiency of engineering equipment is fuelling the demand for metallic gaskets. Leakages in industrial equipment lead to significant losses in terms of material and labor as well as additional repairing costs. In case of industries, leakages result in significant downtime, adversely affecting the overall operation. Based on type, spiral wound, double-jacketed metal, solid metal, corrugated metal, and ring type joint are some of the prominent metallic gaskets used in industrial and related applications. They find application in heat exchangers, compressors, condensers, valves, pumps, and turbines. Spiral wound gaskets are manufactured via the spiral winding of a pre-formed metal strip and filler on the circumference of metal winding mandrels. The inner and outer diameter of a spiral wound gasket is strengthened with the help of several plies of metal without the use of fillers. This provides better compression and higher stability to the gasket. In double-jacketed gaskets, the filler material is enclosed by a two-piece metal jacket which covers its inner as well exterior diameters. Designed for high temperature applications, double-jacketed gaskets can withstand temperatures as high as 1650 degree Fahrenheit encountered in boilers , heat exchangers, and related applications.
With rapid industrialization in emerging economies, the metallic gasket market is expected to gain traction during the forecast period. There has been a considerable rise in the number of manufacturing plants, machineries, and various other mechanical instruments which use metallic gaskets. However, their complex manufacturing processes, intricate shapes, altering designs, and limited material applicability are the key challenges limiting the metallic gasket market.
Based on geographic regions, the market is distributed over North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Over the forecast period, Asia Pacific is anticipated to witness maximum growth on account of the burgeoning industrial sector in the region. This is attributable for the growing manufacturing and industrial sector in the country such as China and India. The government of India has been promoting Make in India initiative to foster the development of manufacturing sector of the country and a lot of international players are planning to set up their manufacturing bases in the country.
Key players in the metallic gasket market include Dana Holding Corporation, Flowserve Corporation, Smiths Group PLC, Freudenberg Sealing Technologies Gmbh & Co. Kg, Federal-Mogul Holdings Corporation, Datwyler Holding Inc., and Victor Gaskets India Limited.
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