South & Central America Form-In-Place Gasket Market
No. of Pages: 80 | Report Code: BMIRE00030538 | Category: Chemicals and Materials
No. of Pages: 80 | Report Code: BMIRE00030538 | Category: Chemicals and Materials
The South & Central America form-in-place gasket market is expected to grow from US$ 35.86 million in 2022 to US$ 42.93 million by 2030. It is estimated to record a CAGR of 2.3% from 2022 to 2030. Integration with Industry 4.0 Technologies Fuels South & Central America Form-In-Place Gasket Market
Industry 4.0 technologies enable the automation of manufacturing processes, including the application of form-in-place gaskets. Automated systems enhance efficiency, reduce production time, and minimize errors. Integration with smart sensors allows real-time monitoring of various parameters during the gasket application process. This includes monitoring material dispensing, curing conditions, and quality control, leading to improved product consistency and reliability. The data analysis related to form-in-place gasket production helps manufacturers to identify opportunities for optimization, reduce waste, and enhance overall process efficiency. Advanced technologies facilitate advanced quality control measures, ensuring that form-in-place gaskets meet stringent standards. Traceability features allow manufacturers to track and trace each product throughout the production process, enhancing accountability and meeting quality assurance standards. Collaborative robots and human-machine collaboration technologies can be integrated into form-in-place gasket manufacturing process. Parker Hannifin Corp offers ParPHorm, a product line consisting of a formulation developed to be robotically dispensed onto small housings and then cured. Industry 4.0 enables remote monitoring and control of manufacturing processes. Manufacturers can oversee gasket production from remote locations, making it easier to manage multiple production facilities. Therefore, integration with Industry 4.0 technologies is a potential trend in the form-in-place gasket market.South & Central America Form-In-Place Gasket Market Overview
According to the United Nations Conference on Trade and Development, in South & Central America, FDI rose by 56% (US$ 102 billion) in 2021 compared to 2020, sustained by strong inflows in traditional target industries such as automotive manufacturing, financial & insurance services, and electricity provision, and pushed by record-high investments in information and communication services across the region. Thus, the increasing FDI in the region is anticipated to drive the demand for form-in-place gaskets. Further, the form-in-place gasket market growth in South & Central America is attributed to the surging production of vehicles in the region. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total number of vehicles manufactured in South & Central America grew from ~2.72 million in 2021 to ~2.96 million in 2022, registering an increase of 9%. In addition, rising car ownership due to increased spending power and higher living standards fuels the market for automotive refinishes. Moreover, major market players in the automotive sector have strategized development and expansion of their operational capacities in South & Central America to tap the lucrative automotive market. In 2022, Audi AG invested US$ 19.2 million to restart production at its plant in Parana, Brazil, registering a capacity of 4,000 vehicles per year. The region's automotive industry, which relies mainly on import and export revenue generation, considerably creates lucrative opportunities for form-in-place gaskets. The rise in passenger car sales is the prime factor driving the form-in-place gaskets market growth in the region. Further, Brazil is one of the strongest markets for aircraft manufacturing across the world. Brazil-based Embraer is the fourth largest aircraft manufacturer in the world, after Airbus, Boeing, and Bombardier Aerospace. According to the International Air Transport Association (IATA), passenger numbers recorded in 2019 are projected to surpass in 2023, i.e., Central America (102%), followed by South America in 2024 (103%), and the Caribbean in 2025 (101%). Furthermore, regional manufacturers invest in strategic initiatives such as product development, mergers, and acquisitions to gain a competitive position in the market. In September 2022, South American rotorcraft operator Ecocopter collaborated with Airbus on possible plans to launch urban air mobility (UAM) services with eVTOL aircraft in markets including Chile, Ecuador, and Peru. Under a MoU signed in September 2021, the companies are working on possible use cases for air taxis and other eVTOL operations, including early-adopter markets in the three countries. Such initiatives by manufacturers and the rising number of air passengers are anticipated to increase aircraft production. Form-in-place gaskets are used in manufacturing aerospace components. Thus, all the factors mentioned above drive the demand for form-in-place gaskets in South & Central America.
Strategic insights for the South & Central America Form-In-Place Gasket provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the South & Central America Form-In-Place Gasket refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.South & Central America Form-In-Place Gasket Market Revenue and Forecast to 2030 (US$ Million)
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Report Attribute
Details
Market size in 2022
US$ 35.86 Million
Market Size by 2030
US$ 42.93 Million
Global CAGR (2022 - 2030)
2.3%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Application
Regions and Countries Covered
South and Central America
Market leaders and key company profiles
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South & Central America Form-In-Place Gasket Market Segmentation
The South & Central America form-in-place gasket market is segmented into application and country.
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 the largest share of the South & Central America form-in-place gasket market in 2022.
Based on country, the South & Central America form-in-place gasket market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America 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, and HB Fuller Co are some of the leading companies operating in the South & Central America form-in-place gasket market.
1. 3M Co
2. Henkel AG & Co KGaA
3. Parker Hannifin Corp
4. Dow Inc
5. Compagnie de Saint Gobain SA
6. Bostik SA
7. HB Fuller Co
The South & Central America Form-In-Place Gasket Market is valued at US$ 35.86 Million in 2022, it is projected to reach US$ 42.93 Million by 2030.
As per our report South & Central America Form-In-Place Gasket Market, the market size is valued at US$ 35.86 Million in 2022, projecting it to reach US$ 42.93 Million by 2030. This translates to a CAGR of approximately 2.3% during the forecast period.
The South & Central America Form-In-Place Gasket Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Form-In-Place Gasket Market report:
The South & Central America Form-In-Place Gasket Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Form-In-Place Gasket Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Form-In-Place Gasket Market value chain can benefit from the information contained in a comprehensive market report.
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