During the projection period of 2023 to 2023, it is expected that demand for gaskets and seals will grow steadily throughout the world. According to the data, global sales of gaskets and seals reached more than US$ 86.6 Billion in 2023. According to the report’s key forecasts, the global gaskets and seals market will generate more than US$154.7 billion in revenue by the end of 2033, representing a 6% value CAGR.
According to a comparison of the projected global sales of gaskets and seals during the forecast period, the demand for seals is expected to continue to be larger than that for gaskets. Solid and spiral wound gaskets, which will generate more than US$ 25 Billion in global sales by the end of 2026, would be seen as the market’s top sellers.
Multiple manufacturing processes adopted across diverse industrial verticals are all contingent upon the efficiency of engineering equipment & systems. The need to improve the operability of such systems can be met by using gaskets & seals – devices that help connect multiple surfaces & systems to complete a mechanical workflow.
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The report has also compiled key factors impacting the growth of the global gaskets & seals market during the forecast period, which follow:
- Rising instances of leakage in industrial units that cause considerable loss in terms of property damage & health risks can be averted by the use of gaskets & seals
- The demand for gaskets & seals is also expected to rise on account of their compliance with several strict regulations, that prompt minimization of leakage & fugitive emissions, observed across the globe
- The advent of 3D printing is likely to lower the costs of manufacturing gaskets & seals, and will also facilitate the urgency to deliver customized products
- Key challenges inhibiting the market’s growth during the forecast period are complex manufacturing processes, altering designs, and limited material applicability for the production of gaskets & seals.
On the other hand, most global sales of seals will be dominated by dynamic seals. Static seals are projected to procure just over 42% share of global seals revenues through 2026-end.
The report further reveals that the automotive industry will be one of the largest end-users of gaskets & seals in the world. However, the imprint of automotive end-use on the global gaskets & seals market will witness a downtrend, while revenues accounted by machinery and electronics & electrical industries during the forecast period will register 5.5% and 5.6% CAGRs respectively.
Key findings in the report also predict that by the end of 2026, more than three-fourths of gaskets & seals revenues will be accounted for by OEM sales channels. The report also expects Asia-Pacific excluding Japan region to dominate global gaskets & seals revenues by registering a value CAGR of 6.8% and bringing in over US$ 43 Bn revenues by 2026-end.
Other regions are expected to showcase sluggish growth in terms of gaskets & seals sales, exhibiting CAGRs below 5%.
List encompassing key players operating in the gaskets and seals market:
- Crown Gaskets Pvt. Ltd.
- AB SKF
- Flowserve Corporation
- Garlock Sealing Technologies LLC
- Cooper Standard
- Trelleborg Sealing Solutions
- KG Smiths Group Plc
- Freudenberg Sealing Technologies GmbH & Co.
- ElringKlinger AG
- Dana Limited
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Gaskets and Seals Market Survey by Category
By Product Type:
- Gasket
- Jacketed
- Solid
- Spiral Wound
- Kammprofile
- Seal
- Static
- Dynamic
By Material Type:
- Metallic
- Non-Metallic
- Elastomeric
- Others
By End-use:
- Automotive
- Aerospace
- Machinery
- Electrical and Electronics
- Marine and Rail
- Others
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- The Middle East & Africa (MEA)
- Japan
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Gaskets and Seals Market:
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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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