Gasket And Seals Market

Gasket and seals are the materials used to prevent the passage of any foreign media through to and fro, the joined object while under compression. A Gasket is a mechanical seal, which fills the space between two or more mating surfaces, in order to prevent leakage. Gaskets allow perfect mating surfaces wherein they can fill irregularities. Gaskets and seals are widely used across all end-use industries. Depending upon the application, different types of gaskets and seals are used among various end-use industries. Spiral wouned, jacketed, kammprofile, and the solid ring is among the key gasket types, while o-ring seals, body seals, mechanical seals, shaft seal, piston seal, etc. are the key seal types used in different applications.

The global gaskets and seals market was valued for US$ 74,375.7 Mn in 2021.

Market Dynamics

Leakage from various industrial equipment can result in significant loss of material and indirect loss, in terms of labor and material cost of repair, environmental losses, wasted energy, sales due to downtime, etc. Both direct and indirect loses can incur a negative impact on a company’s operation in terms of revenue generation as well as diminishing the brand image in case of industrial accidents and claims for personal injury. Thus, these factors are expected to drive growth of the global gasket and seals market during the forecast period. There are various standards and regulations regarding reducing the environmental impact of leakage and fugitive emissions, have been in development from different government and environmental agencies. For instance, The EPA estimates that approximately 70.4 KT/year of volatile organic compounds (VOC) and 9.4 KT/year of hazardous air pollutants (HAP) are emitted from equipment leaks, which significantly contribute to the formation of ground-level ozone. Moreover, European Environmental Agency, Environmental Protection Agency, etc. are focused on the development of standards to control amount of the leaks. Thus, these factors are expected to propel the market growth in the near future.

 Key features of the study:

• This report provides an in-depth analysis of the Global Gasket and Seals Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global Gasket and Seals Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the Global Gasket and Seals Market include Banco Products (I) Lt, Dana Incorporated, ElringKlinger AB, Federal-Mogul Holdings Corporation, Freudenberg & Co. KG, Henniges Automotive Holdings Inc., Parker Hannifin Corp., SKF AB, Smiths Group Inc. (John Crane), Trelleborg AB, and Erith Group
• These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, Material Type up gradation, market expansion, and marketing tactics
• The global Gasket and Seals market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Gasket and Seals Market

Detailed Segmentation

• Global Gaskets and seals Market, By Product Type:
  • Gaskets
    • Jacketed Gaskets
    • Solid Gaskets
    • Spiral Wound Gaskets
    • Kammprofile Gaskets
  • Seals
    • Static Seals
    • Dynamic Seals
• Global Gaskets and seals Market, By Sales Channel:
  • OEM
  • Aftermarket
• Global Gaskets and seals Market, By Material Type:
  • Metallic
  • Non-Metallic
    • Elastomers
    • Others
• Global Gaskets and seals Market, By End-Use Industry:
  • Automotive
  • Aerospace
  • Machinery
  • Electronics & Electrical
  • Marine & Rail
  • Others
• Global Gaskets and seals Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles
  • Banco Products (I) Lt*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
  • Dana Incorporated
  • ElringKlinger AB.
  • Federal-Mogul Holdings Corporation
  • Freudenberg & Co. KG
  • Henniges Automotive Holdings Inc.
  • Parker Hannifin Corp.
  • SKF AB
  • Smith’s Group Inc. (John Crane)
  • Trelleborg AB
  • Erith Group