Form-In Place Gasket Market is expected to reach US$ 1,668.71 million by 2030
Growing Oil & Gas Industry Drives Global Form-In Place Gasket Market Growth
According to the latest market study on “Form-In Place Gasket Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Application," the form-in-place gasket market size was valued at US$ 1,203.10 million in 2022 and is expected to reach US$ 1,668.71 million by 2030; it is estimated to register a CAGR of 4.2% from 2022 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
A form-in-place gasket is made by dispensing a liquid gasket onto a metal/plastic part before assembly. Form-in-place gaskets are used in various industries due to their precision and durability. They offer a highly reliable seal that stays resistant to freezing, heat, UV, and corrosion. Major advantages of using form-in-place gaskets are their adaptability across a variety of conditions and the ability to produce intricate details. Different materials are used to make form-in-place gaskets. Conductive or non-conductive material is selected depending on the use of the gasket. Electronics, medical, defense & military, aerospace, and mass transportation are among the industries using form-in-place gaskets. In medical devices, form-in-place gaskets are used in ventilators, oxygenators, and dialysis machines.
Global Form-In Place Gasket Market Breakdown – by Region
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Major factors driving the growth of the form-in-place gaskets market are the high demand for form-in-place gaskets from the automotive industry and the growing oil & gas industry. Form-in-place gaskets are commonly used in engine applications to create seals between engine components. Electric and hybrid vehicles often use form-in-place gaskets to seal battery enclosures, thereby maintaining the safety and integrity of the battery system. The ability of form-in-place gaskets to be customized according to specific shapes and sizes makes them suitable for various custom sealing applications in the automotive industry. Further, the adoption of form-in-place gaskets in aerospace applications is expected to offer lucrative opportunities for market growth during the forecast period.
3M Co, Henkel AG & Co KGaA, Parker Hannifin Corp, Modus Advanced Inc, Dow Inc, Compagnie de Saint Gobain SA, Permabond LLC, Bostik SA, HB Fuller Co, and ITW Performance Polymers are among the key players in the global form-in place gasket market.
Impact of COVID-19 Pandemic on Global Form-In Place Gasket Market Growth
During the COVID-19 pandemic, disruptions in chemical and materials manufacturing operations significantly impacted global supply chains and hindered product manufacturing activities, delivery schedules, and sales. Various chemicals and materials companies reported product delivery delays and sales slump in 2020. Moreover, restrictions on international travel imposed by governments of various European and Asia Pacific countries compelled manufacturers and suppliers to temporarily discontinue their business strategies, such as partnerships. All these factors hampered many sectors during the pandemic and restrained the growth of the chemicals & materials industry. During the pandemic, supply chain disruptions, raw material and labor shortages, and operational difficulties created demand and supply gaps, adversely affecting the growth of the form-in-place gasket market.
In 2020, supply chain shortages, increased labor costs, and high demand for raw materials resulted in price inflation of materials required in the chemicals & materials industry across various regions. In 2021, rising vaccination rates contributed to improvements in the overall conditions in different countries, which led to a conducive environment for the automobile, construction, furniture, and aerospace industries. The developments in the form-in-place gasket market were witnessed with the resumption of production and sales operations of companies operating in the industry by the end of 2021.
The "Global Form-In-Place Gasket Market Analysis to 2030" is a specialized and in-depth study of the chemicals & materials industry, focusing on the global form-in-place gasket market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The global form-in-place gasket market is segmented on the basis of application. Based on application, the market is segmented into marine, automotive, electrical and electronics, aerospace, lighting, and others. In the field of electrical and electronics, form-in-place gaskets are commonly employed in smartphones, tablets, and wearable devices. The ability of form-in-place gaskets to conform precisely to intricate designs and accommodate miniaturized components contributes to the sleek and compact form factors of these devices while maintaining resistance to external elements. This is particularly relevant in the evolving landscape of portable electronics, where durability and water resistance have become significant selling points. Moreover, in recent years, the automotive industry has witnessed the utilization of form-in-place gaskets, with manufacturers increasingly recognizing their versatility and performance benefits. The formulation of form-in-place gasket materials with enhanced resistance to extreme temperatures, ensuring reliable sealing in high-temperature engine compartments and harsh weather conditions, encounters increased utilization.
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