At 2.3% CAGR, South & Central America Form-In-Place Gasket Market is Projected to be Worth US$ 42.93 Million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America form-in-place gasket market was valued at US$ 35.86 million in 2022 and is expected to reach US$ 42.93 million by 2030, registering a CAGR of 2.3% from 2022 to 2030. Adoption of form-in-place gaskets in aerospace applications are among the critical factors attributed to the South & Central America form-in-place gasket market expansion.

The aerospace industry plays a pivotal role in driving the demand for form-in-place gaskets due to several key factors. Firstly, the stringent performance requirements in aerospace applications necessitate the use of highly reliable sealing solutions to maintain the integrity of critical components and systems. Form-in-place gaskets offer precise sealing capabilities, conforming to complex geometrics and irregular surfaces often found in aerospace equipment, thus ensuring optimal performance and safety. Secondly, the lightweight and compact nature of form-in-place gaskets aligns well with the aerospace industry's emphasis on weight reduction and space optimization, contributing to overall efficiency and fuel savings. Moreover, the ability of form-in-place gaskets to withstand extreme temperatures, pressures, and environmental conditions makes them ideal for use in aerospace applications where reliability is paramount. These gaskets also provide resistance to chemicals, fuels, and other fluids commonly encountered in aerospace operations, further enhancing their suitability for the industry. Overall, the aerospace sector's demand for high-performance, lightweight, and reliable sealing solutions continues to fuel the adoption of form-in-place-gaskets in various aircraft and spacecraft applications. Therefore, advancements in aerospace technologies are expected to create lucrative opportunities for the adoption of form-in-place gaskets.

On the contrary, availability of alternative sealing solutions hampers the growth of South & Central America form-in-place gasket market.

Based on application, the South & Central America form-in-place gasket market is segmented into marine, automotive, electrical and electronics, aerospace, lighting, and others. The electrical and electronics segment held 32.6% share of South & Central America form-in-place gasket market in 2022, amassing US$ 11.69 million. It is projected to garner US$ 14.88 million by 2030 to expand at 3.1% CAGR during 2022–2030.

By country, the South & Central America form-in-place gasket market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 44.0% share of South & Central America form-in-place gasket market in 2022. It was assessed at US$ 15.79 million in 2022 and is likely to hit US$ 19.68 million by 2030, exhibiting a CAGR of 2.8% during 2022–2030.

Key players operating in the South & Central America form-in-place gasket market 3M Co, Henkel AG & Co KGaA, Parker Hannifin Corp, Dow Inc, Compagnie de Saint Gobain SA, Bostik SA, and HB Fuller Co, 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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