Gasket and Seals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
- Transparency Market Research
Gasket and seals are primarily used to fill the empty spaces between the coupling surfaces to avoid leakage and wastage of fluids and gas. In addition, gaskets also help in maintaining pressure and avoid contamination from the external environmental condition. Gaskets and seals are specifically designed depending upon the end-use surface and the type of coupling. These products have the property of withstanding high compressive loads. In order to check the strength of gaskets and seals certain tests are undertaken. Silicone and rubber are the most preferred material used for manufacturing gaskets and seals owing to their superior characteristics including high reliability, better strength, high flexibility, and resistance to high heat and pressure.
The market for gaskets and seals is segmented on the basis of materials used, types, end-use verticals, and geography. On the basis of types, the gaskets and seals market is segmented into gasket; which are further categorized into metallic gaskets, rubber gasket, cork gasket, non-asbestos gasket, ring joints, and spiral wound gaskets. The types of seals considered includeO-ring seal, lip seal, mechanical seal, rotary seal and others. Based on end use, material required for gasket and seal manufacturing is decided. Based on type of material used to manufacture gaskets and seals, the market is segmented into fiber, graphite, PTFE, rubber gasket, silicone gasket and others. Based on end-use, the market for gasket and seal is segmented into power and energy, industrial and manufacturing, oil and gas, automotive and chemical and petrochemicals among others. Based on geographical regions, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Over the forecast period, Asia Pacific is expected to witness maximum growth on account of growing industrial sector in the region.
With increase in industrialization and urbanization globally, there has been considerable rise in the number of manufacturing plants, machineries, automobiles, and various other mechanical instruments which use gasket and seals. This has had positive impact on the market growth. Gaskets and seals are major peripheral required in plumbing systems. With economies recovering post economic recession, construction industry is expected to regain its growth level, thereby supporting the demand for plumbing systems and hence, gasket and seals.
In automobiles, gaskets and seals are widely used for shunting to avoid leakage or wastage of expensive fluids or gas. Owing to their property to sustain extreme pressure conditions, compressive loads, and heat, gasket and seals have significant scope across different industry verticals. However there are certain restraints too, which are curbing the market growth of gasket and seals. Due to price volatility of raw materials like rubber, silicone, graphite etc. the overall price of gaskets and seals is also expected to rise to some extent. With increase in electrification/industrial automation, the use of gaskets and seals has been on a decline.
Some of the key players manufacturing gaskets and seals include Dana Holding Corporation, Flowserve Corporation, Smiths Group PLC, Freudenberg Sealing Technologies Gmbh & Co. Kg, Federal-Mogul Holdings Corporation, Datwyler Holding Inc. andVictor Gaskets India Limited among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
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- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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