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The global gaskets and seals market is expected to grow at a CAGR of 5.53% from 2022 to 2028. Speak directly to the analyst to clarify any post sales queries you may have.
MARKET TRENDS & DRIVERS
Innovative Designs in the Manufacturing Sector
Most global gasket and seal manufacturers are increasing their yearly spending on R&D infrastructure to cater to a wide range of end-use applications with high product variability. Unlike traditional methods of making designs and prototypes through molds, manufacturers have installed Computer-Aided Design (CAD). This software is used to create visual prototypes using three-dimensional designs and manufacture products, significantly reducing the cost of design innovations and product updating. Moreover, CAD designs use highly sophisticated computer technology that creates designs and documentation.Customization Based on End-Use Applications
Manufacturers in the global gaskets and seals market cater to various end-use applications, implying that specifications often change based on the industry and manufactured goods. In dealing with diverse end-use product offerings and their expected standards, vendors must have agile manufacturing lines that can quickly adjust to short-term demand fluctuations from end customers. Moreover, the demand for customization is likely to increase as the end-use sector strives to achieve differentiation in their products. The need for differentiation is higher in the automotive industry since it is highly competitive and requires continued innovation. Further, customization allows for the precise design of gaskets and seals to match the geometry and dimensions of the mating components.SEGMENTATION INSIGHTS
INSIGHTS BY PRODUCT TYPE
The global gaskets and seals market by product type is segmented into seals (shaft seals, molded seals, motor vehicle seals, and other seals) and gaskets (jacketed gaskets, solid gaskets, spiral wound gaskets, kammprofile gaskets, and others). The seal product type segment is dominating the market in 2022 and is expected to maintain its position during the forecast. Seal market growth is primarily attributed to several factors involving its widespread application in chemical, industrial plants, automotive, and consumer durable products to prevent leakage. The growing industrial sector is also crucial in advancing the seal market as it involves using mechanical seals in large machinery and equipment installations. Furthermore, the application of gaskets is extensive across industries, and demand and utilization in the aerospace and automotive sectors remained crucial and increased significantly in 2022. This results from the production and export volumes of aircraft spares and automotive parts in emerging and developed countries in Latin America, APAC, and the Middle East.Segmentation by Product Type
- Seals
- Shaft Seals
- Molded Seals
- Motor Vehicle Seals
- Other Seals
- Gaskets
- Jacketed Gaskets
- Solid Gaskets
- Spiral Wound Gaskets
- Kammprofile Gaskets
- Others
INSIGHTS BY MATERIAL
The metallic material segment dominates the global gaskets and seals market, owing to its robot heat-resistant technology and efficient performance in high pressure. In the automotive industry, metal gaskets and seals are in high demand due to their crucial role in ensuring vehicles' reliable and efficient operation. However, the non-metallic segment is growing at a high CAGR rate owing to the increasing application of a large number of industries that depend on rubber, silicone, and other non-metallic gaskets and seals to integrate technology into their products, which is increasing growth opportunities in several non-conventional application areas such as in heavy machines and earthmovers.Segmentation by Material Type
- Metallic
- Non-metallic
INSIGHTS BY END-USE
The OEMs end-use segment held the most prominent share of the global gaskets and seals market 2022. One of the significant roles of gaskets and seals in OEM applications is to provide a reliable and leak-free seal between two or more mating surfaces. This is crucial in industries such as automotive manufacturing, where engines, transmissions, and other fluid-carrying components must remain sealed to prevent the escape of oil, coolant, or other fluids. However, the requirement for gaskets and seals for the aftermarket is also catching up, exhibiting a higher CAGR during the forecast period.Segmentation by End Use
- OEMs
- After Market
INSIGHTS BY APPLICATION
The global gaskets and seals market by application is segmented into industrial machinery, automotive, electricals and electronics, aerospace industry, marine and rail, and others. The industrial manufacturing segment dominated the global market in 2022 owing to the rising development of plants in emerging countries such as India and China, among others. Adoption of new technologies and product variation in design and efficiency are significant across all industries. OEMs and aftermarket vendors in the machinery market are looking to provide innovative offerings that exceed conventional performance and efficiency. In recent years, emerging countries like India and China have become green hubs for the gaskets and seals industry. This is due to increasing government emphasis on industrial revolutions to propel productivity, export volumes, and demand for industrial machinery and heavy equipment. Furthermore, growing investments in oil refineries, extraction pipes, and machinery are expected to bolster the gaskets and seals industry in the Middle East.Segmentation by Application
- Industrial Machinery
- Automotive
- Electricals and Electronics
- Aerospace Industry
- Marine and Rail
- Others
GEOGRAPHICAL ANALYSIS
APAC was the most significant revenue contributor to the global gaskets and seals market, accounting for a share of over 42% in revenue in 2022. The region has many automotive manufacturers and production units, which gradually increase the use of gaskets and seals as they are crucial elements of the automotive industry. Further, the rising urbanization and population in emerging markets such as India and China, which cover almost 36% of the world population, will likely impact the market. Additionally, the shift towards better living standards and demand for personal mobility has grown in the past few years, contributing to the market's growth. For instance, as per OICA, the percentage change in India and China was 3% & 24% respectively in 2022. Moreover, with luxury carmakers such as Audi, BMW, and Mercedes in the region, customer preferences have changed to vehicles with luxurious and advanced features. The new trend of giving importance to eco-friendly cars will propel the automotive parts and components market, which is expected to raise the demand for gaskets and seals during the forecast period.Segmentation by Geography
- APAC
- China
- Japan
- India
- Australia
- South Korea
- North America
- The U.S.
- Canada
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
VENDORS LANDSCAPE
The global gaskets and seals market is highly fragmented due to the presence of many vendors. Vendors in the market are implementing strategies to undertake the severe competition. M&As are observed at numerous intervals to gain scale and scope opportunities. The market for gaskets and seals is highly fragmented due to many vendors across regions. To achieve a competitive edge, vendors must focus on developing innovative technologies and staying updated with upcoming innovations in the industry. Many international players are expected to strengthen their global presence, particularly in the fast-growing APAC and Latin American markets, by offering industry-leading smart gaskets and seals and capturing more market share during the forecast period.Key Company Profiles
- Dana
- ElringKlinger
- Freudenberg
- AB SKF
- Tenneco
- Flowserve Corporation
- Smith’s Group PLC
Other Prominent Vendors
- Trelleborg
- Accroseal
- Vicone Rubber
- A.J. Rubber & Sponge Ltd.
- Seals and Design Inc.
- MSG Seals
- Keith Payne Products
- Enpro
- Datwyler Holding Inc.
- Bruss Sealing System GmbH
- Cooper Standard Holding
- Dupont
- Kaman Corporation
- TEADIT
- Frenzelit
- Flexitallic
- Sanwa Packing Industry Co., Ltd
- AIGI Industrial Group of Companies
- AMETEK Incorporated
- Zhongding Group
- BAL Seal Engineering
- Caterpillar
- Federal-Mogul Corporation
- Crown Gaskets PVT LTD
- W.L. Gore & Associates, Inc.
- Greene Tweed
- Henkel AG
- ILPEA Industries
- Interface Performance Materials
- Ishikawa Gaskets
- VALQUA, Ltd
- Parker-Hannifin Corporation
- Asian Sealing Products
- Henniges Automotive
- Garima Global
- Mercer Gaskets & Shim
- Motion Industries, Inc
- The Timken Company
- Saint-Gobain Tape Solutions
- Rogan Corporation
- Allegis Corporation
- Tranter, Inc
- Sealing Devices, Inc
KEY QUESTIONS ANSWERED:
1. How big is the gaskets and seals market?2. What is the growth rate of the global gaskets and seals market?
3. Which region dominates the global gaskets and seals market share?
4. What are the significant trends in the gaskets and seals industry?
5. Who are the key players in the global gaskets and seals market?
Table of Contents
1 Research Methodology2 Research Objectives3 Research Process6 Market at a Glance
4 Scope & Coverage
5 Report Assumptions & Caveats
7 Premium Insights
8 Introduction
9 Market Opportunities & Trends
10 Market Growth Enablers
11 Market Restraints
12 Market Landscape
13 Product Type
14 Seals
15 Gaskets
16 Material Type
17 End-use
18 Applications
19 Geography
20 APAC
21 North America
22 Europe
23 Latin America
24 Middle East and Africa
25 Competitive Landscape
26 Key Company Profiles
27 Other Prominent Vendors
28 Report Summary
29 Quantitative Summary
30 Appendix
List of Tables
Samples
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Companies Mentioned
- Dana
- ElringKlinger
- Freudenberg
- AB SKF
- Tenneco
- Flowserve Corporation
- Smith’s Group PLC
- Trelleborg
- Accroseal
- Vicone Rubber
- A.J. Rubber & Sponge Ltd.
- Seals and Design Inc.
- MSG Seals
- Keith Payne Products
- Enpro
- Datwyler Holding Inc.
- Bruss Sealing System GmbH
- Cooper Standard Holding
- Dupont
- Kaman Corporation
- TEADIT
- Frenzelit
- Flexitallic
- Sanwa Packing Industry Co., Ltd
- AIGI Industrial Group of Companies
- AMETEK Incorporated
- Zhongding Group
- BAL Seal Engineering
- Caterpillar
- Federal-Mogul Corporation
- Crown Gaskets PVT LTD
- W.L. Gore & Associates, Inc.
- Greene Tweed
- Henkel AG
- ILPEA Industries
- Interface Performance Materials
- Ishikawa Gaskets
- VALQUA, Ltd
- Parker-Hannifin Corporation
- Asian Sealing Products
- Henniges Automotive
- Garima Global
- Mercer Gaskets & Shim
- Motion Industries, Inc
- The Timken Company
- Saint-Gobain Tape Solutions
- Rogan Corporation
- Allegis Corporation
- Tranter, Inc
- Sealing Devices, Inc
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 285 |
| Published | February 2024 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 68.87 Billion |
| Forecasted Market Value ( USD | $ 95.1 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 50 |
