Gaskets and Seals Market By Product Type (Gaskets, Seals), Material (Metallic, Non-Metallic), End User (Automotive, Aerospace, Machinery) & Region - Forecast to 2016 - 2026

Gaskets and Seals Market - Analysis, Outlook, Growth, Trends, Forecasts

January 2022
REP-GB-815
173 pages
Industrial Automation

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Gaskets and Seals Market Overview 2016-2026

[350 Pages Report] The global gaskets and seals market is anticipated to hold a market value of USD 102 Bn by 2026, while recording a CAGR of 5.4% during the assessment period.

Attributes	Details
Estimated Market Value of Global Gaskets and Seals Market by 2026	USD 109 Bn
Estimated CAGR from 2016-2026	5.4%
Estimated CAGR of APEJ by 2026	6.8%

The growing need to enhance the performance of engineering products is anticipated to augment the global market for gaskets and seals.

By end use industry, the machinery segment is predicted to hold lucrative market opportunities, expanding at a CAGR of 5.4% from 2016 to 2026.

APEJ is projected to dominate the global gaskets and seals market by recording a CAGR of 6.8%, procuring a market value of USD 43 Bn by 2026 end.

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 gaskets and seals 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.

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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 gaskets and seals 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 gaskets and seals 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 gaskets and seals 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.