Form-In Place Gasket Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Marine, Automotive, Electrical and Electronics, Aerospace, Lighting, and Others)

Form-In Place Gasket Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Marine, Automotive, Electrical and Electronics, Aerospace, Lighting, and Others)

The form-in-place gasket market size was valued at US$ 1.20 billion in 2022 and is expected to reach US$ 1.66 billion by 2030; it is estimated to register a CAGR of 4.2% from 2022 to 2030.

A form-in-place gasket gasket is made by dispensing a liquid gasket onto a metal/plastic part before assembly. Form-in-place gasket 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 gasket 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 gasket 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 gasket gaskets. In medical devices, form-in-place gasket gaskets are used in ventilators, oxygenators, and dialysis machines.

Major factors driving the growth of the form-in-place gasket gaskets market are the high demand for form-in-place gasket gaskets from the automotive industry and the growing oil & gas industry. Form-in-place gasket gaskets are commonly used in engine applications to create seals between engine components. Electric and hybrid vehicles often use form-in-place gasket gaskets to seal battery enclosures, thereby maintaining the safety and integrity of the battery system. The ability of form-in-place gasket 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 gasket gaskets in aerospace applications is expected to offer lucrative opportunities for market growth during the forecast period.

Based on application, the form-in place gasket market is segmented into marine, automotive, electrical and electronics, aerospace, lighting, and others. In the field of electrical and electronics, form-in-place gasket gaskets are commonly employed in smartphones, tablets, and wearable devices. The ability of form-in-place gasket 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 gasket gaskets, with manufacturers increasingly recognizing their versatility and performance benefits. The formulation of form-in-place gasket gasket materials with enhanced resistance to extreme temperatures, ensuring reliable sealing in high-temperature engine compartments and harsh weather conditions, encounters increased utilization.

In 2022, Asia Pacific dominated the global form-in place gasket market. The demand for form-in-place gasket gaskets in Asia Pacific is directly proportional to industrialization and vehicular production in the region. The increasing number of on-fleet vehicles in countries such as China, India, and South Korea propels the demand for printed circuit boards (PCBs) and semiconductors, further bolstering the need for form-in-place gasket gaskets. With China's evolution into a high-skilled manufacturing hub, developing countries such as India, Taiwan, South Korea, and Vietnam are attracting several businesses that plan to relocate their low to medium-skilled manufacturing facilities to neighboring countries, which results in reduced labor costs. As per the study by the Semiconductor Industry Association, ~75% of global semiconductor capacity is based in East Asia. Semiconductor companies will benefit from a cost advantage of 25% to 50% with the start of manufacturing activities in the region.

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 key players operating in the global form-in-place gasket market. Market players focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as investments in research and development activities and new product launches.

The overall global form-in-place gasket market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the form-in-place gasket market.

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