Gasket and seals market
Gasket and Seals Market, By Product Type (Gaskets (Jacketed Gaskets, Solid Gaskets, Spiral Wound Gaskets, and Kammprofile Gaskets) and Seals (Static Seals and Dynamic Seals)), By Sales Channel (OEM and Aftermarket), By Material Type (Metallic and Non-metallic (Elastomeric and Others), By End-use Industry (Automotive, Aerospace, Machinery, Electronics & Electrical, Marine & Rail and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
- Jan 2023
- CMI3897
- 130 Pages
- Excel & Pdf
- Industrial Automation and Machinery
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 wound, jacketed, kammprofile, and solid rings are among the key gasket types, while o-ring seals, body seals, mechanical seals, shaft seals, piston seals, etc. are the key seal types used in different applications.
The global Gaskets and Seals market is estimated to account for US$ 74,375.7 Mn in terms of value by the end of 2021 and is expected to grow at a CAGR of 5.7% during the forecasted period (2022-2030).
Market Opportunity
Customized product offerings can provide major growth opportunities
Demand for integrated gaskets and seals that can offer superior mechanical, electrical, and physicochemical properties is expected to boost during the forecast period. Manufacturers’ ability to respond to demand for such products with reduced lead time and at competitive prices is expected to create significant growth opportunities in the global market.
New product launches can pose major business opportunities
The global manufacturers of gaskets and seals, to better serve their customers, are introducing new products, and are involved in the expansion of their product portfolio.
Market Restraint
Challenges associated with manufacturing, design, and material construction are expected to hinder the global gasket and seals market during the forecast period
Improvisation of machine design due to the increasing need for compact, efficient, and high-performance processes has resulted in the requirement for highly customized gaskets and seals. The alteration in shape, size, or design also requires a change in the material of construction used for manufacturing gaskets and seals. Limited availability of installation, manufacturing, service and safety data for newly developed gaskets and seals further pose challenges during working with them. Thus, these factors are expected to restrain the growth of the market.
Issues regarding high-temperature sealing are expected to hinder the global gasket and seals market during the forecast period
Sealing at high temperatures and in challenging operating conditions has remained a major hampering factor. If standard materials such as expanded graphite are used in manufacturing of gasket and seals, such standard materials cannot perform reliably for an extended time period. Thus, these factors are expected to hinder the global gasket and seals market growth over the forecast period.
Gaskets and Seals Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 74,375.7 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 5.7% | 2030 Value Projection: | US$ 1,20,173.9 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Key companies covered in the global Gaskets 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 |
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Growth Drivers: |
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Restraints & Challenges: |
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Global Gaskets and Seals Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 epidemic has caused a global slowdown in vehicle production, which was having an adverse effect on the expansion of the gaskets and seals manufacturing sector. Additionally, it also anticipated a sharp drop in oil prices and a suspension of industrial activity in 2020.
Furthermore, the production of gaskets and seals was anticipated to operate at a utilization rate that was below average which resulted in a decrease in demand in the aerospace and automotive industries.
But, in the coming years, the need for gaskets and seals is also anticipated to increase due to the economic recovery and rising energy market demand.
Competitive Scenario
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.
Recent Developments:
- On October 26, 2022, Erith Group, an engineering solutions company providing high-end engineered sealing products started the production of industrial seals and gaskets for international-level of markets from its manufacturing hub in Ras Al Khaimah.
Forecasted Asia Pacific is expected to hold a dominant position in the Gaskets and Seals Market in 2030
Statistics:
Asia Pacific held a dominant position in the global Gasket and Seals market in 2021, accounting for a 49.2% share in terms of value, followed by Europe and North America respectively
Figure 1: Global Gaskets and Seals Market Share (%), By Region, 2021
Asia Pacific is expected to be one of the prominent region in the global market and witness high growth during the forecast period. This is owing increasing demand for gaskets and seals in emerging countries such as China and India.
Figure 2: Global Gaskets and Seals Market (US$ Mn) Analysis and Forecast, 2017 – 2030
The Global Gaskets and Seals Market was valued at US$ 74,375.7 Mn in 2021 and is expected to reach US$ 1,20,173.9 Mn by 2030, growing at a CAGR of 5.7% between 2022 and 2030.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Sales Channel
- Market Snippet, By Material Type
- Market Snippet, By End-use Industry
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New system Launch/Approvals
- Impact of COVID-19 Pandemic
- Market Dynamics
- Global Gasket and Seals Market, By Product Type, 2017-2030 (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Segment Trends
- Gaskets
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Sub Segments
- Jacketed Gaskets
- Solid Gaskets
- Spiral Wound Gaskets
- Kammprofile Gaskets
- Sub Segments
- Seals
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Sub Segments
- Static Seals
- Dynamic Seals
- Sub Segments
- Introduction
- Global Gasket and Seals Market, By Sales Channel, 2017 - 2030 (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Segment Trends
- OEM
- Introduction
- Market Size and Forecast, 2017 - 2030, (US$ Million)
- Aftermarket Introduction
- Market Size and Forecast, 2017 - 2030, (US$ Million)
- Aftermarket
- Introduction
- Market Size and Forecast, 2017 - 2030, (US$ Million)
- Introduction
- Global Gasket and Seals Market, By Material Type, 2017-2030 (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Segment Trends
- Metallic
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Non-Metallic
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Sub Segments
- Elastomeric
- Others
- Sub Segments
- Introduction
- Global Gasket and Seals Market, By End-use Industry, 2017-2030 (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Product Type Trends
- Automotive
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Aerospace
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Machinery
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Electronics & Electrical
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Marine & Rail
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Introduction
- Global Gasket and Seals Market, By Region, 2017-2030 (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2022 and 2030 (%)
- North America
- Regional Trends
- Market Size and Forecast, Product Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Sales Channel 2017–2030 (US$ Million)
- Market Size and Forecast, Material Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, Product Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Sales Channel 2017–2030 (US$ Million)
- Market Size and Forecast, Material Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- U.K.
- Germany
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, Product Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Sales Channel 2017–2030 (US$ Million)
- Market Size and Forecast, Material Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, Product Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Sales Channel 2017–2030 (US$ Million)
- Market Size and Forecast, Material Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East and Africa
- Regional Trends
- Market Size and Forecast, Product Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Sales Channel 2017–2030 (US$ Million)
- Market Size and Forecast, Material Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By End-use Industry, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- South Africa
- GCC Countries
- Rest of the Middle East and Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Banco Products (I) Lt
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/ Updates
- Dana Incorporated
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- ElringKlinger AB.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Federal-Mogul Holdings Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Freudenberg & Co. KG
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Henniges Automotive Holdings Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- AdTech Optics, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Parker Hannifin Corp.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- SKF AB
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Smiths Group Inc. (John Crane)
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Trelleborg AB
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Erith Group
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Banco Products (I) Lt
- Analyst Views
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
*Browse 60 market data tables and 40 figures on " Global Gasket and Seals Market - Global forecast to 2030”.
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
- Gaskets
- 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
- By Product Type:
- Gaskets
- Jacketed Gaskets
- Solid Gaskets
- Spiral Wound Gaskets
- Kammprofile Gaskets
- Seals
- Static Seals
- Dynamic Seals
- Gaskets
- By Sales Channel:
- OEM
- Aftermarket
- By Material Type:
- Metallic
- Non-Metallic
- Elastomers
- Others
- By End-Use Industry:
- Automotive
- Aerospace
- Machinery
- Electronics & Electrical
- Marine & Rail
- Others
- By Country:
- U.S.
- Canada
- By Product Type:
- Europe
- By Product Type:
- Gaskets
- Jacketed Gaskets
- Solid Gaskets
- Spiral Wound Gaskets
- Kammprofile Gaskets
- Seals
- Static Seals
- Dynamic Seals
- Gaskets
- By Sales Channel:
- OEM
- Aftermarket
- By Material Type:
- Metallic
- Non-Metallic
- Elastomers
- Others
- By End-Use Industry:
- Automotive
- Aerospace
- Machinery
- Electronics & Electrical
- Marine & Rail
- Others
- By Country:
- Germany
- Italy
- U.K.
- France
- Russia
- Rest of Europe
- By Product Type:
- Asia Pacific
- By Product Type:
- Gaskets
- Jacketed Gaskets
- Solid Gaskets
- Spiral Wound Gaskets
- Kammprofile Gaskets
- Seals
- Static Seals
- Dynamic Seals
- Gaskets
- By Sales Channel:
- OEM
- Aftermarket
- By Material Type:
- Metallic
- Non-Metallic
- Elastomers
- Others
- By End-Use Industry:
- Automotive
- Aerospace
- Machinery
- Electronics & Electrical
- Marine & Rail
- Others
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Product Type:
- Latin America
- By Product Type:
- Gaskets
- Jacketed Gaskets
- Solid Gaskets
- Spiral Wound Gaskets
- Kammprofile Gaskets
- Seals
- Static Seals
- Dynamic Seals
- Gaskets
- By Sales Channel:
- OEM
- Aftermarket
- By Material Type:
- Metallic
- Non-Metallic
- Elastomers
- Others
- By End-Use Industry:
- Automotive
- Aerospace
- Machinery
- Electronics & Electrical
- Marine & Rail
- Others
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Product Type:
- Middle East and Africa
- By Product Type:
- Gaskets
- Jacketed Gaskets
- Solid Gaskets
- Spiral Wound Gaskets
- Kammprofile Gaskets
- Seals
- Static Seals
- Dynamic Seals
- Gaskets
- By Sales Channel:
- OEM
- Aftermarket
- By Material Type:
- Metallic
- Non-Metallic
- Elastomers
- Others
- By End-Use Industry:
- Automotive
- Aerospace
- Machinery
- Electronics & Electrical
- Marine & Rail
- Others
- By Country/Region:
-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
-
- By Product Type:
- North America