Water Flange Gasket Market Forecast and CAGR
According to latest research, Water Flange Gasket market is expected to witness moderate growth rate of 3.5 to 4% per annum during 2021-2031. Post COVID-19 recessionary effect due to curbs on manufacturing and supply activities, the demand for the product will witness moderate level of recovery in short-term. However with optimistic growth in the long-run, the future growth outlook is understood to be on the promising side. Rising awareness for wastewater treatment throughout the globe will extend its opportunities in near future, however, sales of Water Flange Gasket in petrochemical industry and waste water management activities will provide momentum to the market growth.
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Which product segments are believed in driving the Demand of the market?
Considering the proliferation of waste water management activities across the globe is expected to offer ample of opportunities to the market growth. This product helps to ensure continues flow of water for which the material type of the product should be taken into consideration which helps to prevent leakage or any other damage during operation.
Therefore, based on material type, the non-metallic type of water flange gasket is estimated to dominate the market by holding major share over the forecast period. The non-metallic type is cost effective and feasible option for the end users such as oil and gas industry, petro chemical industry and for waste water management purpose.
The water or gas pipelines used for water or waste water supply in municipal infrastructure and oil and gas industry need to be constructed or maintain under serious consideration as it may affects the whole surroundings.
Asia Pacific Market Outlook
Robust expansion of petrochemical industries and increasing production activities of crude oil in Asia Pacific region is expected to affect the market growth positively. The growing upgradation, replacements and refurbishments activities in the industries are anticipated to boost the growth of the market growth throughout the forecast period.
Asia Pacific is estimated to be the most significant regions for water flange gasket market accounting for a major share in the market. Owing to the established steel industry in this region resulted into the region seeking a high growth rate. To cater the growing regional population with this large pipeline networks and easy availability of raw materials is propelling the market growth.
North America Market Outlook
U.S. and Canada are expected to remain the prominent market over the forecast period for Water Flange Gaskets market with the region also known to be a major production hub consisting of tier-1 and tier-2 manufacturers. US is understood to be one of the prominent markets for the product globally.
Increasing demand of the product in residential and commercial sectors in water and wastewater management systems is expected to deliver high growth for water flange gasket market during the forecast period.
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Europe Demand Outlook
Demand from CIS countries and Eastern Europe is expected to upsurge the growth of Water Flange Gasket market in the region. Also, the mandatory reforms and regulations of European government regarding constructions in residential sector, commercial sector and for oil and gas industry are likely to upsurge the demand of the product during the forecast period.
Who are the Key Manufacturers and Suppliers of Water Flange Gasket?
Some of the leading manufacturers and suppliers of the product include
- Garlock Sealing
- Lamons
- Flexitallic Group
- James Walker Group
- Frenzelit GmbH
- Leader Gasket Technogies
- Nichias
- W. L. Gore and Associates
- NIPPON VALQUA
- PILLAR Packing
- Klinger Limited
- CPS
- Inertech
- Temac
- DONIT TESNIT
- A.W. Chesterton
- Topog-E Gasket
- Dongshan South Seals
- Carrara Spa
- Renesas Electronics Corporation
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