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Graphite Packing Market Report
The graphite packing market is growing due to rising demand in high-temperature applications, especially for valves and pumps.
WILMINGTON, DE, UNITED STATES, October 21, 2024 /EINPresswire / — Allied Market Research published a report titled, “Graphite Packing Market by Type (Flexible Graphite Packing, Reinforced Graphite Packing, Others), by Application (Refineries, Power Plants, Chemical Manufacturing, Others): Global Analysis and Forecast, 2021-2031.” In 2021, the market was valued at $396.2 million and is expected to reach $661.0 million by 2031, growing at a CAGR of 5.3% from 2022 to 2031. The report covers market trends, key segments, investment opportunities, value chains, competition, and regional insights.
Market Growth Drivers
Demand from high-temperature applications is driving market growth, particularly for valve and pump packing. However, high export duties on graphite in some countries may limit growth. Emerging economies present opportunities for expansion.
Key Market Segments
Reinforced Graphite Packing: In 2021, this segment made up over 50% of market revenue and is projected to grow at 5.5% CAGR due to its effectiveness in high-pressure, high-temperature settings.
Refineries Lead Applications: The refineries segment had the largest share in 2021, driven by the demand for petroleum products. The power plants segment is forecasted to grow the fastest at 5.6% CAGR due to the need for durable packing materials.
Regional Insights
Asia-Pacific Dominates: This region accounted for nearly 60% of global revenue in 2021 and is expected to grow at 5.6% CAGR, spurred by rapid industrial advancements.
Key Industry Players
Major players include:
- W. L. Gore and Associates
- Sunwell Seals
- Klinger Limited
- Hysesaling
- Sealmax
- Garlock Sealing Technologies
- Mineral Seal Corporation
- Cixi Xinsheng Seal Factory
- Marshall Packing
- Phelps Industrial Products
These companies are using product launches, expansions, and partnerships to enhance their market presence.
About Us
Allied Market Research (AMR) is a market research and business consulting firm based in Portland, Oregon. AMR provides high-quality market research reports and business intelligence solutions to help clients make strategic decisions for sustainable growth. CEO Pawan Kumar leads the organization in delivering accurate data and insights through primary interviews and extensive research.
Contact: David Correa
Allied Market Research
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