Europe Form-In-Place Gasket Market Revenue to cross US$ 379.59 Million by 2030

At 3.7% CAGR, Europe Form-In-Place Gasket Market is Projected to be Worth US$ 379.59 Million by 2030, says The Insight Partners

According to The Insight Partners research, the Europe form-in-place gasket market was valued at US$ 284.87 million in 2022 and is expected to reach US$ 379.59 million by 2030, registering a CAGR of 3.7% from 2022 to 2030. High demand for form-in-place gaskets from automotive industry and growing oil & gas industry are among the critical factors attributed to the Europe form-in-place gasket market expansion.

Form-in-place gaskets are used to seal flanges in pipelines and equipment within the oil and gas infrastructure. The gaskets provide a secure and leak-resistant seal between connected flanges, preventing the escape of fluids and gases. In oil and gas wellheads, where pressure and temperature conditions can be extreme, form-in-place gaskets are used to seal critical connections. During the construction and maintenance of pipelines, form-in-place gaskets are used to seal the connections between pipeline segments. These gaskets are applied in the sealing of tanks and vessels used for storage and transportation of oil and gas. A proposed pipeline that would connect Greece to the Eastern Mediterranean's gas deposits via Cyprus and Crete has been retained by the European Commission on its updated list of Projects of Common Interest (PCI), which was released in November 2023. Projects that are on the PCI list are eligible for special funding and a streamlined permitting process. Further, in 2023, the governments of Germany and Italy have decided to proceed with the proposed 3,300 km gas pipeline project. Therefore, the rise in oil and gas projects propels the form-in-place gasket market growth.

On the contrary, availability of alternative sealing solutions hampers the growth of Europe form-in-place gasket market.

Based on application, the Europe form-in-place gasket market is segmented into marine, automotive, electrical and electronics, aerospace, lighting, and others. The electrical and electronics segment held 36.5% share of Europe form-in-place gasket market in 2022, amassing US$ 103.98 million. It is projected to garner US$ 146.72 million by 2030 to expand at 4.4% CAGR during 2022–2030.

By country, the Europe form-in-place gasket market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 38.8% share of Europe form-in-place gasket market in 2022. It was assessed at US$ 110.58 million in 2022 and is likely to hit US$ 145.04 million by 2030, exhibiting a CAGR of 3.4% during 2022–2030.

Key players operating in the Europe form-in-place gasket market 3M Co, Henkel AG & Co KGaA, Parker Hannifin Corp, Dow Inc, Compagnie de Saint Gobain SA, Permabond LLC, Bostik SA, HB Fuller Co, and ITW Performance Polymers, among others.

• In November 2023, Henkel´s new 1k RTV silicone form-in-place-gasket (FIPG) solution dispense, assemble, and test in-line reduces staging times and creates an immediate, robust seal on assembly.

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