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Advanced Fiber-based Gasket Market - Introduction

The advanced fiber-based gasket market has been expanding significantly owing to the increase in demand to improve the performance of engineering equipment and rise in demand for fiber-based gasket from petrochemical refineries and the oil & gas industry. Additionally, advances in material sciences in the fiber-based gasket and seals industry is expected to drive the market during the forecast period. Vendors are investing significantly in R&D of high-performance materials and coatings for gasket and seals in order to obtain a competitive edge in the market. Manufacturers are using advanced materials such as tungsten carbide and silicon carbide. Tungsten carbide is ideal for high-pressure applications, as it can prevent face distortion. It also possesses high modulus of elasticity. Silicon carbide offers hardness and high abrasion resistance.

Advanced Fiber-based Gasket Market – Competitive Landscape

ElringKlinger AG

Founded in 1879, ElringKlinger AG is headquartered in Dettingen an der Erms, Germany. It operates as an independent development partner and equipment manufacturer. The company is engaged in production and distribution of parts and assemblies used in engines, transmissions, exhaust systems, and vehicle bodies, alongside components for lithium-ion batteries and fuel cells. It is an independent automotive supplier of cylinder-head and specialty gaskets, plastic housing modules, shielding parts for engine, transmission and exhaust tract applications, and exhaust gas purification technology. ElringKlinger AG operates through the following segments: original equipment, aftermarket, engineered plastics, services, and industrial parks.

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Freudenberg Group

Incorporated in 1849, Freudenberg Group is based in Weinheim, Germany. It is a global technology group. The company develops leading-edge technologies; and products, solutions, and services for 40 market segments. It offers products and services for various applications including seals, nonwovens, filters, medical products, IT services, vibration control components, specialty chemicals, and the modern cleaning products. The company operates in more than 60 countries across the world.

Parker Hannifin Corp.

Established in 1918, Parker Hannifin Corp. is headquartered in Cleveland, Ohio, the U.S. The company engages in the manufacture of motion and control technologies and systems. It also provides engineered solutions for mobile, industrial, and aerospace markets. It operates through diversified industrial and aerospace systems business segments. Parker Hannifin Corp. operates across the globe. It has major operations in North America, Europe, Asia Pacific, and Latin America.

Tenneco Inc.

Incorporated in 1940, Tenneco Inc. is based in Lake Forest, Illinois, the U.S. The company engages in design, manufacture, and distribution of engineered products for original equipment vehicle manufacturers and repair and replacement markets. It operates through the following segments: North America Ride Performance; North America Clean Air; Europe, South America, and India Ride Performance; Europe, South America, and India Clean Air; Asia Pacific Clean Air; and Asia Pacific Ride Performance. Its brands include Clevite Elastomers, Monroe, Rancho, Axios, Kinetic, Marzocchi, and Fric-Rot for ride control products; and Walker, Fonos, DynoMax, Thrush, and Lukey for emission control products.

Trelleborg AB

Established in 1905, Trelleborg AB is located in Trelleborg, Sweden. It engages in the development of polymer technology system. The company operates through the following segments: Trelleborg Industrial Solutions, Trelleborg Coated Systems, Trelleborg Offshore & Construction, Trelleborg Wheel Systems and Trelleborg Sealing Solutions. It owns and operates production units in countries such as Brazil, Australia, Denmark, Bulgaria, India, France, China, Italy, Malta, the U.S., the U.K., Poland, Switzerland, Sweden, and Mexico.

Other prominent players operating in the advanced fiber-based gasket market include Bal Seal Engineering, Federal-Mogul, Flexitallic Group, Garlock Sealing Technology, Lamons, SKF Group, James Walker, and Dana Holding Corporation.

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Advanced Fiber-based Gasket Market – Dynamics

Rise in Demand from Petrochemical Refineries and Oil & Gas Industry

Growth in number of global petrochemical refineries and the oil & gas industry is positively impacting the adoption of advanced fiber-based gaskets. These gaskets are increasingly being used in petrochemical refineries and the oil & gas industry, as they can withstand a wide range of temperatures and have high chemical resistivity. Addition of new refineries and increase in global refinery capacity are further anticipated to boost the global advanced fiber-based gasket market.

Increase in Application of Advanced Fiber-based Gasket in Engineering Equipment

Advanced fiber-based gaskets are used in engineering equipment to improve their performance, as these gaskets reduce the damage to equipment. This increases the service life of the equipment and reduce the overall cost of production. Engineered components and equipment are extensively used in different industries such as food processing, machine tools, chemicals, agricultural, oil and gas and mining.

Day-to-day use of these equipment causes leakage of lubricants, fluids, oils, and other chemicals. This can result in high operational expenses in terms of loss of productivity, material cost, and labor cost. Thus, various industries and business have started adopting advanced fiber-based gaskets in their production processes in order to improve productivity and lower the equipment downtime. As a result, the advanced fiber-based gasket market is likely to expand at a rapid pace in the next few years.

Advanced Fiber-based Gasket Market – Segmentation

The global advanced fiber-based gasket market can be segmented based on:

  • Type
  • Application
  • Geography

Advanced Fiber-based Gasket Market Segmentation – By Type

In terms of type, the global advanced fiber-based gasket market can be classified into:

  • Fiberglass
  • Carbon Fiber
  • Aramid Fiber

Advanced Fiber-based Gasket Market Segmentation – By Application

Based on the application, the global advanced fiber-based gasket can be segregated into:

  • Industrial Machinery
  • Chemicals
  • Electrical & Electronics
  • Marine & Rail Equipment
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Advanced Fiber Based Gasket Market

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