The Europe gaskets market refers to the industry involved in the manufacturing and distributing gaskets, which are essential sealing components used in various mechanical and industrial applications. Gaskets play a crucial role in preventing leakage of fluids or gases between joined surfaces, ensuring the integrity and efficiency of machinery and equipment. The market is characterized by various gasket materials catering to diverse application needs, including rubber, silicone, metal, and composite materials.
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Data Bridge Market Research analyses that the Europe Gaskets Market is expected to grow at a CAGR of 4.0% in the forecast period of 2023 to 2030 and is expected to reach USD 6,917.53 million by 2030 from USD 5,054.571 in 2022. Construction and infrastructure development drive gasket demand for plumbing, HVAC systems, and general construction needs in new commercial buildings and infrastructure projects, emphasizing the pivotal role of gaskets in ensuring reliable sealing solutions for these applications.
Key Findings of the Study
Rising popularity of PTFE-based gaskets is expected to drive the market's growth rate
With their high melting temperature, low friction, corrosion resistance, and versatility, PTFE-based gaskets are gaining popularity. These gaskets find applications in various industries such as energy, chemical, medical, and oil and gas, reducing vibration and offering noise reduction. Their resistance to acids, bases, and solvents makes them a preferred sealing material. Custom-engineered PTFE gaskets can incorporate different materials, leading to innovations and market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Contact Gaskets and Contactless Gaskets), Industry (Automotive, Marine and Rail, Aerospace, Oil and Gas, Industrial Manufacturing, Electrical, Paper and Pulp Industry, and Others)
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Countries Covered
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Germany, the U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands, and the Rest of Europe
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Market Players Covered
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Freudenberg FST GmbH (Germany), IDT GmbH (Germany), SSP Manufacturing Inc. (U.S.), A.J. Rubber & Sponge Ltd (Canada), RUSS Sealing Systems GmbH (Germany), ElringKlinger AG (Germany), Garlock, an Enpro (NYSE: NPO) Company (U.S.), Lamons LGC US Asset Holdings, LLC (U.S.), Trelleborg AB (Sweden), W. L. Gore & Associates, Inc. (U.S.), Seal & Design Inc. (U.S.), GE MAO RUBBER INDUSTRIAL CO., LTD. (Taiwan), HELIX ENGINEERING (India), The Topog-E Gasket Co (U.S.), OHIO VALLEY GASKET INC. (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Europe gaskets market is segmented on the basis of type and industry.
- On the basis of type, the Europe gaskets market is classified into two segments contact gaskets, and contactless gaskets.
- On the basis of industry, the Europe gaskets market is classified into eight segments automotive, electrical, industrial manufacturing, oil and gas, aerospace, marine and rail, paper and pulp industry, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Europe gaskets market players in Europe gaskets market are W. L. Gore & Associates, Inc. (U.S.), Seal & Design Inc. (U.S.), GE MAO RUBBER INDUSTRIAL CO., LTD. (Taiwan), HELIX ENGINEERING (India), The Topog-E Gasket Co (U.S.), OHIO VALLEY GASKET INC. (U.S.).
Market Developments
- In May 2022, Statista reported Asia as the global hub for petroleum refineries, housing 316 operational facilities in 2021. The continent leads with 90 upcoming refinery projects, primarily propelled by consumer demand from economic giants such as China and India. These expansions signify Asia's pivotal role in the world's refining industry, reflecting the region's economic prowess and energy demands.
- In 2022, Trelleborg introduced the Turcon Tran-SECURE PTFE manway lid gasket, featuring proprietary high-performance Turcon PTFE material. This enhanced sealing solution offers excellent chemical, heat, and wear resistance, making it ideal for diverse applications such as chemical transportation and power generation. Easy installation and maintenance make it a valuable choice for companies seeking reliability.
- In 2022, Lamons launched DEFENDER HF gaskets, tailored for corrosive hydrofluoric acid environments. These gaskets feature a unique material blend resistant to harsh chemicals. Designed for easy installation and maintenance, they offer a reliable and durable sealing solution, proving invaluable for companies dealing with demanding hydrofluoric acid applications.
- In April 2021, W. L. Gore & Associates, Inc. received a Silver Supplier award from BAE Systems’ Electronic Systems sector, recognizing their outstanding contributions to the supply chain in 2020. Gore provided BAE Systems wire and cable components and was honored in a virtual ceremony. This prestigious accolade enhances Gore's brand value, showcasing its exceptional performance and strengthening its position as a reliable supplier in the industry.
Regional Analysis
Geographically, the countries covered in the Europe gaskets market report are Germany, the U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands, and the Rest of Europe.
As per Data Bridge Market Research analysis:
Germany is the dominant region in the Europe gaskets market during the forecast period of 2023 - 2030
Germany has established its dominance in the European gaskets market, primarily attributed to its significant market share and robust revenue growth. A surge in demand within the automobile industry has driven this strong position. Germany's advanced manufacturing capabilities, engineering expertise, and high-quality gasket production have positioned it as a key player in supplying gaskets for automotive applications. As the automotive sector continues to expand, Germany's market leadership is expected to persist, making it a pivotal contributor to the overall success of the European gaskets market.
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