Gasket & Seal Materials Market is projected to be worth USD 16140 million by 2030, registering a CAG
March 9, 2023 ⚊ 1 Min read ⚊ Views 43 ⚊ BUSINESS
Based on material, the global gasket & seal materials market has been segmented into rubber, fiber, metal, PTFE, cork, and others. Among these, the rubber segment accounted for 35% of the market share in 2018; it is projected to exhibit a CAGR of 5.64%. The high demand for rubber seals & gaskets is attributed to their wide use in major end-use industries such as automotive, oil & gas, chemicals, and aerospace on account of various advantages such as shock resistance, oil & chemical resistance, adhesion, electrical properties, weather resistance, and water resistance. However, the PTFE segment emerged as the fastest-growing segment, registering a CAGR of 6.10% on the backdrop of its excellent chemical resistance, dielectric properties, outstanding corrosion protection,
