An Incisive, In-depth Analysis on the Gaskets And Seals Market
This study offers a comprehensive, 360 degree analysis on the Gaskets And Seals market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Gaskets And Seals market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
As per Future Market Insights’ forecast, the global gaskets and seals market is estimated to be valued at nearly US$ 63 Bn in the year 2017 and is expected to touch a figure of nearly US$ 102 Bn by the year 2026, representing a CAGR of 5.4% in terms of value during the forecast period. The global gaskets and seals market is projected to create an incremental dollar opportunity of nearly US$ 42 Bn between 2016 and 2026.
Increasing need to improve performance/efficiency of engineering equipment is boosting the global market for gaskets and seals
There is a significant loss of material and additional losses in the form of labour and material cost of repair due to the leakages caused in various industrial equipment. In addition, a significant chunk of energy is wasted coupled with environmental losses that affect the bottom line of the industry adversely. Sales are also impacted due to the downtime caused by such leaking industrial equipment and leading to other malfunctions. Also, if things go wrong badly, an industrial accident may occur due to the leaking industrial equipment and this may lead to irreparable damage to the brand image of the concerned company and claims for personal injury will translate into heavy financial losses. In order to avoid such situations, and to increase the overall efficiency of the machine systems, there is an increasing need from end-user industries to properly manage gaskets and seals usage during their process systems and operations.
Customisation in product offerings offers a great opportunity in the global gaskets and seals market
Presently, new materials are being used to produce newer types of gaskets and seals for various end use applications and this makes the global market for gaskets and seals attractive. There is an inherent demand for integrated gaskets and seals, which can offer superior mechanical, physiochemical as well as desirable electrical properties and this market is expected to gain traction in the coming years. The ability of manufacturers to respond to such kind of demand for new product types and materials is expected to create significant growth opportunities in the global gaskets and seals market. In addition, signing long-term contracts with direct end users can provide opportunities for uninterrupted revenue flow and profit generation in the global gaskets and seals market.
Introduction of 3-D printing to manufacture gaskets and seals is an upcoming trend
Various end users of gaskets and seals are demanding customised and high end products. The leading market players are responding by developing and applying novel technologies for producing superior quality products. For example, in March 2017, Stratasys Ltd, a company involved in 3D printing solutions, introduced two new materials for 3D printing namely, FDM Nylon 12CF that is a carbon-fibre reinforced thermoplastic; and Agilus30, a line of flexible and tear resistant material for polyjet 3D printing. Agilus30 can also be used for producing gaskets and seals through the process of 3D printing.
Global Gaskets and Seals Market Attractiveness Analysis, by End Use Industry
By end use industry, with a market attractiveness rating of 5.0, the Machinery segment is expected to be a relatively attractive segment over the forecast period. The growing use of machine equipment in various manufacturing sectors and in the oil & gas industry is expected to drive the growth of this segment. The Electrical and Electronics industry segment is inclined towards moderate growth and possesses a moderate share of the market; and is expected to inch towards the high growth region owing to the recent developments to fulfil the increased demand for sealants in electrical gadgets. The Automotive industry segment is projected to register a significant CAGR of 5.1% over the forecast period. Increasing automotive production across specific regions and the growing demand for cylinder head gaskets and body seals is expected to drive the growth of this segment.
Development of novel materials to produce gaskets and seals with superior characteristics is an upcoming trend in the global gaskets and seals market
Sealing at high temperatures and in tough operating conditions has always remained a challenge for end users and even for gaskets and seals suppliers. If standard materials such as expanded graphite are used to manufacture gaskets and seals, such standard materials cannot perform reliably for extended time periods under harsh operating conditions. Industries that require fluid catalytic cracking, fertilizer production, ethylene production, flare systems, power generation, etc. are subject to high temperature processes where gaskets and seals with enhanced characteristics are needed. In order to meet the demand for high performance gaskets and seals from such industries, manufacturers are involved in the development of new materials that can perform efficiently under tough conditions. On such lines, research and development is focussing on developing a combination of metal, elastomer, fibres, etc. that can provide the required properties to give the desired performance in tough conditions.
About the Report
Future Market Insights in its latest report titled ‘Gaskets and Seals Market: Global Industry Analysis and Opportunity Assessment, 2016–2026’ presents a comprehensive and a detailed outlook of the global gaskets and seals market for a 10 year period from 2016 to 2026. In this report, various factors that influence the global gaskets and seals market have been studied in detail and region wise gaskets and seals market analysis and forecast is presented. In the beginning of the report, an executive summary is presented, which talks about the market overview and the revenue generated by the key regions in the global gaskets and seals market. In addition, the executive summary talks about the end use industries where the gaskets and seals are used and which industry is likely to be the most lucrative in the global market. Also, a brief snapshot of the drivers, challenges and trends affecting the global gaskets and seals market is presented. In addition, the companies that are included in the competitive landscape section of the report are also presented in the executive summary. This concise and lucid executive summary provides a flavour of the entire report in one go. At the end part of the executive summary, a Future Market Insights analysis is presented, which gives brief pointers regarding the overall market approach, target segment and region likely to perform the best, as well as differentiating strategies of the key companies operating in the global gaskets and seals market.
The next section of the report gives the market definition and introduction to enable readers to know what type of gaskets and seals are covered in the report. This section is followed by the market taxonomy of the global gaskets and seals market that classifies the market on the basis of product type, sales channel, material type, end use industry and based on various regions. Following is the tabular representation of the market taxonomy of the global gaskets and seals market.
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By Product Type |
By Sales Channel |
By Material Type |
By End Use Industry |
By Region |
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After the market taxonomy, another important section that is presented in the global gaskets and seals market is the inclusion of the global gaskets and seals market value chain that describes the various stages through which the gaskets and seals go before reaching the end use industries. These stages include raw material suppliers, manufacturers, distributors and finally the end use industries where the gaskets and seals are used. After the value chain section, there is a section included on the drivers, challenges, opportunities and market trends in the global gaskets and seals market. This section provides information in detail regarding these important attributes of the global gaskets and seals market and gives a clear picture regarding where the market is headed and the various factors influencing the growth of the market and restraining the growth of the market. In addition, the opportunities and the trends section gives valuable information about how the global gaskets and seals market is shaping up and where there are new opportunities in the market based on the future trends and inclinations with respect to gaskets and seals applications.
The subsequent sections of the report deal with a detailed analysis and forecast of the global gaskets and seals market based on product type, by end use industry, by sales channel, material type and by region. These sections of the report include important metrics such as Basis Point Share (BPS) analysis, Y-o-Y growth projections and comparative analysis. Market attractiveness analysis is also given for each category in order to let the readers know which segment of the global gaskets and seals market is most attractive based on the current trends and future projections. Last but not the least, a competition landscape snapshot provides a dashboard view of the major players in the global gaskets and seals market. Company profiles of important players are also presented in the report, which include points like company description and geographical presence, key strategies employed, key developments, SWOT analysis and important financial information.
Research Methodology
Overall market size has been analysed through historical data, primary responses, and public domain data. Revenue of companies operating in the global gaskets and seals market has been benchmarked to ascertain the market size for the base year. Macro-economic indicators such as GDP and end-use application industries’ growth have been considered to forecast the overall market size during the forecast period. The historical growth trend of the end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market forecast. This data is then validated with the help of the triangulation method and is extensively scrutinised using advanced tools to garner quantitative and qualitative insights into the global gaskets and seals market.
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