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on 30. March 2023
The Middle East & Africa gaskets market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 3.7% in the forecast period of 2023 to 2030 and is expected to reach USD 1,130.01 million by 2030. The major factor driving the growth of the Gaskets is the rising demand from the automobile industry, and industrial gaskets have wider applications in various end-use sectors expected to drive the market growth.
The Middle East & Africa gaskets market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue-impact solution to achieve your desired goal.
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Market Definition
Gaskets seal a connection between two components, and it is used to fill the empty spaces between two surfaces, which helps to avoid leakage and wastage of fluids and gas in the application. Gaskets products are mainly used as static seals. The gaskets are specially designed depending on the type of equipment and end-use surface. Gaskets will often be cut into a specific shape to fit the component they are to be fitted to. Gaskets are made of materials such as metals, industrial-grade rubber, or a combination of both. These are generally equipped with excellent anti-chemical characteristics, anti-compressibility properties, high/low temperature and weather resistance, and superior resistance to heat, water, and abrasion. The growing demand for automotive gaskets is gaining popularity due to the demand for automobiles.
Recent Development
· In May 2022, according to Statista, Asia will be home to the most functioning petroleum refineries in the world. There were 316 such facilities across the continent as of 2021. Asia also has the greatest number of refinery expansion projects in the works. There are roughly 90 refining plants in the planning or building stages, mostly driven by consumer demand from economic powerhouses such as China and India
· In June 20220, Lamons introduced the DEFENDER HF gasket, which is designed for extremely corrosive applications such as hydrofluoric acid. With this accomplishment, the organization strengthened its portfolio.
Middle East and Africa Gaskets Market Scope
The Middle East & Africa gaskets market is categorized based on type and industry. The growth amongst two segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Type
· Contact Gaskets
· Contactless Gaskets
On the basis of type, the Middle East & Africa gaskets market is classified into two segments contact gaskets, and contactless gaskets.
Industry
· Automotive
· Electrical
· Industrial Manufacturing
· Oil and gas
· Aerospace
· Marine and Rail
· Paper and Pulp Industry
· Others
On the basis of industry, the Middle East & Africa Gaskets market is classified into eight segments automotive, electrical, industrial manufacturing, oil and gas, aerospace, marine and rail, paper and pulp industry, and others.
Middle East & Africa Gaskets Market Share Analysis
Middle East & Africa gaskets market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the Middle East & Africa gaskets market.
Some of the major players operating in the Middle East & Africa Gaskets market are Freudenberg FST GmbH, IDT GmbH, SSP Manufacturing Inc., A.J. Rubber & sponge Ltd, BRUSS Sealing Systems GmbH, ElringKlinger AG, Garlock, an Enpro (NYSE: NPO) Company, Lamons LGC US Asset Holdings, LLC, Trelleborg AB, W. L. Gore & Associates, Inc., Seal & Design Inc., GE MAO RUBBER INDUSTRIAL CO., LTD., HELIX ENGINEERING, The Topog-E Gasket Co, and OHIO VALLEY GASKET INC., among others.
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Middle East & Africa Gaskets Market Regional Analysis/Insights
The Middle East & Africa gaskets market is segmented on the basis of type and industry.
The countries in the Middle East & Africa gaskets market are South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, and the Rest of the Middle East and Africa. Saudi Arabia is dominating the Middle East & Africa gaskets market in terms of market share and market revenue due to an increase in demand for the automobile industry.
The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data point downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Middle East & Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
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