Middle East & Africa Form-In-Place Gasket Market Forecast to 2030 - Regional Analysis - by Application (Marine, Automotive, Electrical and Electronics, Aerospace, Lighting, and Others)

Middle East & Africa Form-In-Place Gasket Market Forecast to 2030 - Regional Analysis - by Application (Marine, Automotive, Electrical and Electronics, Aerospace, Lighting, and Others)

The Middle East & Africa form-in-place gasket market is expected to grow from US$ 67.09 million in 2022 to US$ 86.57 million by 2030. It is estimated to record a CAGR of 3.2% from 2022 to 2030.

High Demand for Form-In-Place Gaskets from Automotive Industry Bolsters Middle East & Africa Form-In-Place Gasket Market

Form-in-place gaskets are commonly used in engine applications to create seals between engine components. They are employed in areas such as cylinder heads, valve covers, and oil pans to prevent leaks and ensure the proper functioning of the engine. In addition, form-in-place gaskets are applied in the sealing of electronic control units and protecting sensitive electronic components from environmental factors such as moisture and contaminants. Form-in-place gaskets are often used in electric and hybrid vehicles 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 it suitable for various custom sealing applications in the automotive industry. The advancements in automotive manufacturing capabilities and rising demand for electric vehicles drive the global automotive industry. In March 2022, Saudi Arabia announced setting up its first electric vehicle manufacturing plant in the country as the government plans to ensure 30% of all vehicles in Riyadh's capital city run on electricity by 2030. In April 2022, Lucid Group announced a new agreement with long-time supporter Saudi Arabia to purchase up to 100,000 electric vehicles over a 10-year period. Furthermore, as per OICA, Morocco witnessed a 15% year-on-year increase in vehicle production from 4,03,007 in 2021 to 4,64,864 in 2022. Thus, the rising production and sales of vehicles drive the demand for form-in-place gaskets owing to their use in various applications in the automotive industry.

Middle East & Africa Form-In-Place Gasket Market Overview

Countries in the Middle East & Africa experience economic growth and industrial diversification, and there is a corresponding surge in the consumption and production of electronic goods. This growth spans various sectors, including telecommunications, consumer electronics, and industrial automation, creating a need for advanced sealing solutions to protect delicate electronic components from environmental factors. Countries in the region seek to attract various smartphone and other electronic product manufacturers. In September 2022, Egypt's Information Technology Industry Development Agency (ITIDA) and Chinese electronics manufacturer OPPO signed a memorandum of understanding (MoU) to build a mobile phone manufacturing plant in Egypt with ~US$ 20 million in investments. In August 2022, Nokia phone manufacturer HMD Global partnered with Etisal for Advanced Industries (EAI) to assemble 1 million mobile phones in Egypt in 2022, with plans to double production later. In May 2021, PV Hardware opened its new manufacturing facility in Saudi Arabia. The company will manufacture PV structures, solar tracking systems, and robotic cleaning devices in this facility. Form-in-place gaskets are used to reduce noise between cavities on a printed circuit board (PCB) or in an electronics enclosure. Additionally, they provide superior electrical contact to mating conductive surfaces, including PCB traces for cavity-to-cavity isolation. Thus, growing electronic production is expected to drive the demand for form-in-place gaskets in Middle East & Africa. Further, the growing automotive sales in South Africa and Saudi Arabia create a significant demand for form-in-place gaskets. In September 2022, Renault Group Morocco announced that its two factories in Tangier and Casablanca, Morocco, produced 350,000 vehicles in 2022, a 15.3% increase over the production numbers in 2021. The demand for automotive components in the region is anticipated to grow significantly during the forecast period. The Middle East & Africa market is evolving due to the increasing passenger vehicle production. The demand for vehicles made in the region is growing consistently. Rising middle-class income, growing population, and increasing passenger vehicle production drive the form-in-place gaskets market in the Middle East & Africa.

Furthermore, the oil & gas sector is a significant contributor to the growing demand for form-in-place gaskets in the Middle East & Africa. The industry's critical infrastructure, including pipelines, refineries, and extraction facilities, requires robust sealing solutions to withstand harsh environmental conditions. Form-in-place gaskets offer a reliable and customizable sealing method, addressing the specific challenges posed by the extreme temperatures and corrosive elements prevalent in oil and gas operations across the region. All these factors bolster the demand for form-in-place gaskets in the Middle East & Africa.

Middle East & Africa Form-In-Place Gasket Market Revenue and Forecast to 2030 (US$ Million)

Middle East & Africa Form-In-Place Gasket Market Segmentation

The Middle East & Africa form-in-place gasket market is segmented into application and country.

Based on application, the Middle East & Africa form-in-place gasket market is segmented into marine, automotive, electrical and electronics, aerospace, lighting, and others. The electrical and electronics segment held the largest share of the Middle East & Africa form-in-place gasket market in 2022.

Based on country, the Middle East & Africa form-in-place gasket market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa form-in-place gasket market in 2022.

3M Co, Henkel AG & Co KGaA, Parker Hannifin Corp, Dow Inc, Compagnie de Saint Gobain SA, Bostik SA, Permabond LLC, and HB Fuller Co are some of the leading companies operating in the Middle East & Africa form-in-place gasket market.

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