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.
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Form-In-Place Gasket Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Threat of Substitutes
4.2.3 Bargaining Power of Buyers
4.2.4 Bargaining Power of Suppliers
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors or Suppliers
4.3.4 End Users
4.3.5 List of Vendors
5. Middle East & Africa Form-In-Place Gasket Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 High Demand for Form-In-Place Gaskets from Automotive Industry
5.1.2 Growing Oil & Gas Industry
5.2 Market Restraints
5.2.1 Availability of Alternative Sealing Solutions
5.3 Market Opportunities
5.3.1 Adoption of Form-In-Place Gaskets in Aerospace Applications
5.4 Future Trends
5.4.1 Integration with Industry 4.0 Technologies
5.5 Impact Analysis
6. Form-In-Place Gasket Market - Middle East & Africa Market Analysis
6.1 Middle East & Africa Form-In-Place Gasket Market Revenue (US$ Million)
6.2 Middle East & Africa Form-In-Place Gasket Market Forecast and Analysis
7. Middle East & Africa Form-In-Place Gasket Market Analysis - Application
7.1 Marine
7.1.1 Overview
7.1.2 Marine Market Revenue and Forecast to 2030 (US$ Million)
7.2 Automotive
7.2.1 Overview
7.2.2 Automotive Market Revenue and Forecast to 2030 (US$ Million)
7.3 Electrical and Electronics
7.3.1 Overview
7.3.2 Electrical and Electronics Market Revenue and Forecast to 2030 (US$ Million)
7.4 Aerospace
7.4.1 Overview
7.4.2 Aerospace Market Revenue and Forecast to 2030 (US$ Million)
7.5 Lighting
7.5.1 Overview
7.5.2 Lighting Market Revenue and Forecast to 2030 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Form-In-Place Gasket Market - Country Analysis
8.1 Middle East & Africa Market Overview
8.1.1 Middle East & Africa Form-In-Place Gasket Market, By Key Country - Revenue 2022 (US$ Million)
8.1.2 Middle East & Africa Form-In-Place Gasket Market Revenue and Forecasts and Analysis - By Countries
8.1.2.1 Middle East & Africa Form-In-Place Gasket Market Breakdown by Country
8.1.2.2 South Africa Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million)
8.1.2.2.1 South Africa Form-In-Place Gasket Market Breakdown by Application
8.1.2.3 Saudi Arabia Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million)
8.1.2.3.1 Saudi Arabia Form-In-Place Gasket Market Breakdown by Application
8.1.2.4 UAE Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million)
8.1.2.4.1 UAE Form-In-Place Gasket Market Breakdown by Application
8.1.2.5 Rest of Middle East & Africa Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million)
8.1.2.5.1 Rest of Middle East & Africa Form-In-Place Gasket Market Breakdown by Application
9. Industry Landscape
9.1 Overview
9.2 Market Initiative
10. Company Profiles
10.1 3M Co
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Henkel AG & Co KGaA
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Parker Hannifin Corp
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Dow Inc
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Compagnie de Saint Gobain SA
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Permabond LLC
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Bostik SA
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 HB Fuller Co
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
11. Appendix
11.1 About the Insight Partners
11.2 Glossary
List of Tables
Table 1. Middle East & Africa Form-In-Place Gasket Market Segmentation
Table 2. Middle East & Africa Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Middle East & Africa Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million) - Application
Table 4. South Africa Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million) - By Application
Table 5. Saudi Arabia Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million) - By Application
Table 6. UAE Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million) - By Application
Table 7. Rest of Middle East & Africa Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million) - By Application
List of Figures
Figure 1. Middle East & Africa Form-In-Place Gasket Market Segmentation, By Country
Figure 2. Form-In-Place Gasket Market - Porter's Analysis
Figure 3. Ecosystem: Form-In-Place Gasket Market
Figure 4. Market Dynamics: Middle East & Africa Form-In-Place Gasket Market
Figure 5. Form-in Place Gasket Impact Analysis of Drivers and Restraints
Figure 6. Middle East & Africa Form-In-Place Gasket Market Revenue (US$ Million), 2020 - 2030
Figure 7. Middle East & Africa Form-In-Place Gasket Market Share (%) - Application, 2022 and 2030
Figure 8. Marine Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Automotive Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Electrical and Electronics Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Aerospace Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Lighting Market Revenue and Forecasts to 2030 (US$ Millions)
Figure 13. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Middle East & Africa Form-In-Place Gasket Market, By Key Country - Revenue 2022 (US$ Million)
Figure 15. Middle East & Africa Form-In-Place Gasket Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 16. South Africa Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Saudi Arabia Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. UAE Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Rest of Middle East & Africa Form-In-Place Gasket Market Revenue and Forecasts to 2030 (US$ Million)
1. 3M Co
2. Henkel AG & Co KGaA
3. Parker Hannifin Corp
4. Dow Inc
5. Compagnie de Saint Gobain SA
6. Permabond LLC
7. Bostik SA
8. HB Fuller Co
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Middle East & Africa form-in-place gasket market.
- Highlights key business priorities to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa form-in-place gasket market , thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.