Global Elastic Gasket Market: Overview
The global elastic gasket market is predicted to grow significantly between 2018 –2026. A key driver for elastic gasket market is the growing application in the automotive sector. The automotive industry is increasingly deploying lightweight materials to increase fuel efficiency and to meet stringent regulatory requirements.
Elastic Gaskets help seal two imperfect bodies of surfaces. Gaskets are made up of a wide variety of substances including rubber, Nitrile, paper, metal, cork, felt, neoprene, fiberglass, polytetrafluoroethylene (PTFE) and plastic polymer. Common gaskets include sheet gaskets, solid material gaskets, spiral-wound gaskets, etc. Competition in the elastic gasket market is often focused on innovation related to durability, material compatibility, strength, elastic prolongers, resistance to outside conditions and chemicals, etc.
Transparency Market Research offers a comprehensive analysis of the global elastic gasket market for the forecast period (2018-2026). The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the elastic gasket market. The report offers both qualitative and quantitative examination on the global elastic gasket market for microbial enhanced oil recovery market.
Global Elastic Gasket Market: Key Trends
The global elastic gasket market is predicted to witness growth due to rising demand for vehicles. The advancements in mechanical and physiochemical of elastic gaskets are also expected to boost the market. Thanks to the growing demand for the automotive industry, there are numerous advancements in elastic gaskets today. These include growing application of 3D printing technology, production of customized & low cost gaskets.
The elastic gasket market also faces several challenges during the forecast period. The supply of rubber, a key ingredient in manufacturing several types of elastic gasket is predicted to be in short supply from 2020. This is likely to lead upward pressure on pricing. Similarly, rubber supply is also under threat due to demand for cultivation of other crops. In a recent study in Malaysia, 76.7% rubber farmers expressed an interest in switching to other land uses such as cultivation of Palm oil.
The elastic gasket market also faces tough competition as plastic o-rings are gaining increased prominence in various industries.
Global Elastic Gasket Market: Regional Outlook
Asia Pacific market held the largest share of the global elastic gasket market earlier. The region is expected to witness robust growth as India, China, Japan continue to lead the market with growth as well as advancements in technology. China, particularly home to world’s manufacturing also sees high demand for automotive manufacturing. It produced 30% world’s total vehicles in 2017. North America and Europe are expected to remain a close second.
Global Elastic Gasket Market: Competitive Dynamics
Some of the major players in Global elastic gasket includes Boyd Corporation, DowDupont Inc., Parker Hannifin Corporation, James Walker, SRP, Stockwell Elastomerics Inc.
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