High Temperature Gasket Materials Market - Size, Share, Trends, and Forecast to 2025
Gaskets manufactured from high temperature materials are designed for applications involving, exhaust, combustible fluids, flame, and elevated temperatures. High temperature materials such as graphite, fluorosilicone, polytetrafluoroethylene, and fiberglass provide high reliability seals at high temperatures where traditional gasket materials are ineffective. These materials are used in gaskets for handling temperatures from 350°F to 2300°F. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/2138 High temperature gasket materials are utilized in chemical & petrochemical refineries, industrial fluid sealing, steam service, thermal, electronic & electrochemical applications, medical & food production, industrial processes, foundries, heat exchangers, and others. Such wide variety of applications of high temperature gasket materials is driving growth of the global of high temperature gasket materials market. Furthermore, significant growth in industries such as oil & gas, transportation, electrical, and electronics, which requires gasket materials that are resistant to high temperatures and pressures is driving growth of this market. For instance, 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 2012 and 2020. The global high temperature gasket materials market was valued at US$ 18.9 billion in 2017 and is anticipated to register a CAGR of 6.3% in terms of revenue, over the forecast period (2017 – 2025), to reach US$ 30.2 billion by 2025. Asia Pacific held highest market share of 48.2% in 2017, owing to significant growth in industrial sectors such as chemical & petrochemical industry and power generation. According to International Energy Association, total electricity production in China in 2012 was 4,937 TWh which increased to 5,920 TWh in 2016.