Gaskets And Seals Market
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PUBLISHED: 2022 ID: SMRC21666
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Gaskets and Seals Market Forecasts to 2028 - Global Analysis By Material Type (Non-Metallic, Semi-Metallic, Metallic), Product (Seals, Gaskets), Application, End User, and By Geography

4.8 (34 reviews)
4.8 (34 reviews)
Published: 2022 ID: SMRC21666

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Gaskets and Seals Market is accounted for $59.26 billion in 2022 and is expected to reach $84.54 billion by 2028 growing at a CAGR of 6.1% during the forecast period. Gasket and seals are the materials utilized to prevent the passage of any foreign media forward and backward, the joined object while under compression. Gaskets and seals are utilized to fill the space between two or more mating surfaces, generally to prevent leakage. Seals assist in stopping the leakage from the bearings and keep dust and other impurities out of the equipment.

The automotive industry extensively utilizes the products to avoid the leakage or spillage of fluids and gases. The automotive application accounted for the largest revenue share in 2021 due to the wide scope of application of seals in interiors coupled with the growing affinity of consumers toward electronics in automobiles. According to the India Brand Equity Foundation, automobile exports reached 4.13 million vehicles in FY21, growing at a CAGR of 3.47% during FY16-FY21. Two-wheelers (79.38%), passenger vehicles (9.79%), and three-wheelers (9.52%) made up the majority of exports from India.

Market Dynamics:

Driver:

Increasing leakage from various industrial equipment

Various industrial equipment goes through leakage and can result in huge loss of material and indirect loss, in terms of labor and material expense of repair, environmental losses, wasted energy, sales because of downtime, etc. Both direct and indirect losses can cause a negative impact on an organization's activity in terms of revenue generation as well as diminishing the brand image in case of industrial accidents and claims for personal injury. The gaskets and seals are utilized in vehicles to prevent fluid and gas leakages. They seal the gaps between the vehicle components in order to prevent leakage, which is driving the market growth.

Restraint:

High cost

The manufacturing process is expensive because of the high prices of the raw materials and accordingly the global automotive, gaskets, and seals market has slow development. Additionally, improvisation of machine design because of the increasing requirement for compact, efficient, and high-performance processes has resulted in the requirement of highly customized gaskets and seals, which increases the overall cost.

Opportunity:

Technological advancements

With technological advancements in the automobile sector and the requirement for improved fuel efficiency and increased vehicle performance to automotive gaskets and seals, the market is likely to grow. The manufacturers in this industry are focusing on developing materials that will utilize lesser fuel and that can endure extreme heat and pressure. So customizing the product according to the needs of the market is a good opportunity, also offering the products at competitive prices is another opportunity in the global market.

Threat:

Design and the material related to the manufacturing

Improvisation has to be made in order to design compact and the product efficient. For high-performance processes, there's a need for highly customized gaskets and seals, so this is quite difficult for the market growth. The modification in shape, size, or design also needs a change in the material of construction used for manufacturing gaskets and seals. The utilization of materials like expanded graphite, for manufacturing seals, is not reliable to use for an extended period of time. Limited availability of installation, manufacturing, service, and safety data for newly developed gasket and seals further poses challenges during working with them.

The seals segment is expected to be the largest during the forecast period

The seals segment is estimated to have a lucrative growth owing to the rise of automobile and electronics production driving the demand for mechanical seals. A machine comprising of a large vessel and a rotating shaft at the center of the vessel also requires the installation of mechanical seals. Thus, they have a wide range of applications in the oil & gas sector, such as upstream or downstream exploration and midstream transportation.

The electrical & electronics segment is expected to have the highest CAGR during the forecast period

The electrical & electronics segment is anticipated to witness the fastest CAGR growth during the forecast period due to the increasing investment and innovation leading to a rise in the digital economy. An increase in the production of electronic appliances, such as smartphones, watches, refrigerators, and TVs, backed by the growing consumer spending, is expected to drive the product demand.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the robust economic growth, a large number of passenger and commercial vehicles, increased business investment spending, and strong gains in manufacturing output. As there is an increase in the demand for the vehicles there is an increased production of electrical vehicles, there has been major growth in the market.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period due to improvements in both the internal combustion of the engine and the electric vehicle segment growth. The stringent environmental regulations implemented in the region promote the use of gaskets and seals to avoid leakage and prevent the lubricant from escaping the bearings.

Key players in the market

Some of the key players profiled in the Gaskets and Seals Market include Smiths Group Plc, Garlock Sealing Technologies LLC, Freudenberg Sealing Technologies, Crown Gaskets Pvt. Ltd., ElringKlinger AG, Dana Ltd., Cooper Standard, Bruss Sealing System GmbH, Flowserve Corp., SKF and Federal-Mogul Powertrain.

Key Developments:

In Sep 2019, Freudenberg Sealing Technologies launched a new generation of conductive seals designed to ensure a durable electrical connection between housings and shafts while preventing bearing damage caused by electricity and electromagnetic radiation..

In May 2018, Federal-Mogul Powertrain introduced a piston ring eLine™ for commercial vehicle diesel engines that will enhance gas sealing capability, also enhancing engine efficiency, increased robustness and lower emissions.

Material Types Covered:
• Non-Metallic
• Semi-Metallic (Silicones)
• Metallic

Vehicle Types Covered:
• Heavy Commercial Vehicle
• Light Commercial Vehicle
• Passenger Car

Products Covered:
• Seals
• Gaskets

Applications Covered:
• Heat Exchangers
• Valve Bonnets
• Pressure Vessels
• Manhole Covers
• Handhole
• Pipe Flanges

Distribution Channels Covered:
• Aftermarket
• Original equipment manufacturer (OEM)

End Users Covered:
• Power Generation
• Oil & Gas
• Marine & Rail
• Automotive
• Industrial & Manufacturing
• Electrical & Electronics
• Chemicals & Petrochemicals
• Machinery
• Aerospace
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Gaskets and Seals Market, By Material Type
5.1 Introduction
5.2 Non-Metallic
5.2.1 Polytetrafluoroethylene (PTFE)
5.2.2 Graphite
5.2.3 Fiber
5.2.4 Ethylene Propylene Diene Monomer (EPDM)/Elastomerics
5.3 Semi-Metallic (Silicones)
5.4 Metallic
5.4.1 Stainless Steel
5.4.2 Copper
5.4.3 Bronze
5.4.4 Aluminium

6 Global Gaskets and Seals Market, By Vehicle Type
6.1 Introduction
6.2 Heavy Commercial Vehicle
6.3 Light Commercial Vehicle
6.4 Passenger Car

7 Global Gaskets and Seals Market, By Product
7.1 Introduction
7.2 Seals
7.2.1 Valve Stem Seal
7.2.2 Static Seals
7.2.3 Molded Packing & Seals
7.2.4 Rotatory & Swivel Seal
7.2.5 O-Ring Seal
7.2.6 Motor Vehicle Body Seal/Mechanical Seals
7.2.7 Hydraulic Seals
7.2.8 Dynamic Seals
7.2.9 Shaft Seal
7.3 Gaskets
7.3.1 Spiral Wound Gasket
7.3.2 Rubber/Sponge Gasket
7.3.3 Grooved Gaskets
7.3.4 Non-Asbestos Gasket
7.3.5 Kammprofile Gaskets
7.3.6 Jacketed Gaskets
7.3.7 Ring Joint Gaskets
7.3.8 Cork Gasket

8 Global Gaskets and Seals Market, By Application
8.1 Introduction
8.2 Heat Exchangers
8.3 Valve Bonnets
8.4 Pressure Vessels
8.5 Manhole Covers
8.6 Handhole
8.7 Pipe Flanges

9 Global Gaskets and Seals Market, By Distribution Channel
9.1 Introduction
9.2 Aftermarket
9.3 Original equipment manufacturer (OEM)

10 Global Gaskets and Seals Market, By End User
10.1 Introduction
10.2 Power Generation
10.3 Oil & Gas
10.4 Marine & Rail
10.5 Automotive
10.6 Industrial & Manufacturing
10.7 Electrical & Electronics
10.8 Chemicals & Petrochemicals
10.9 Machinery
10.10 Aerospace
10.11 Other End Users
10.11.1 Water Treatment
10.11.2 Textile
10.11.3 Paper and pulp industry
10.11.4 Food & Pharmaceutical
10.11.5 Agriculture & Construction

11 Global Gaskets and Seals Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa

12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies

13 Company Profiling
13.1 Smiths Group Plc
13.2 Garlock Sealing Technologies LLC
13.3 Freudenberg Sealing Technologies
13.4 Crown Gaskets Pvt. Ltd.
13.5 ElringKlinger AG
13.6 Dana Ltd.
13.7 Cooper Standard
13.8 Bruss Sealing System GmbH
13.9 Flowserve Corp.
13.10 SKF
13.11 Federal-Mogul Powertrain

List of Tables
1 Global Gaskets and Seals Market Outlook, By Region (2020-2028) ($MN)
2 Global Gaskets and Seals Market Outlook, By Material Type (2020-2028) ($MN)
3 Global Gaskets and Seals Market Outlook, By Non-Metallic (2020-2028) ($MN)
4 Global Gaskets and Seals Market Outlook, By Polytetrafluoroethylene (PTFE) (2020-2028) ($MN)
5 Global Gaskets and Seals Market Outlook, By Graphite (2020-2028) ($MN)
6 Global Gaskets and Seals Market Outlook, By Fiber (2020-2028) ($MN)
7 Global Gaskets and Seals Market Outlook, By Ethylene Propylene Diene Monomer (EPDM)/Elastomerics (2020-2028) ($MN)
8 Global Gaskets and Seals Market Outlook, By Semi-Metallic (Silicones) (2020-2028) ($MN)
9 Global Gaskets and Seals Market Outlook, By Metallic (2020-2028) ($MN)
10 Global Gaskets and Seals Market Outlook, By Stainless Steel (2020-2028) ($MN)
11 Global Gaskets and Seals Market Outlook, By Copper (2020-2028) ($MN)
12 Global Gaskets and Seals Market Outlook, By Bronze (2020-2028) ($MN)
13 Global Gaskets and Seals Market Outlook, By Aluminium (2020-2028) ($MN)
14 Global Gaskets and Seals Market Outlook, By Vehicle Type (2020-2028) ($MN)
15 Global Gaskets and Seals Market Outlook, By Heavy Commercial Vehicle (2020-2028) ($MN)
16 Global Gaskets and Seals Market Outlook, By Light Commercial Vehicle (2020-2028) ($MN)
17 Global Gaskets and Seals Market Outlook, By Passenger Car (2020-2028) ($MN)
18 Global Gaskets and Seals Market Outlook, By Product (2020-2028) ($MN)
19 Global Gaskets and Seals Market Outlook, By Seals (2020-2028) ($MN)
20 Global Gaskets and Seals Market Outlook, By Valve Stem Seal (2020-2028) ($MN)
21 Global Gaskets and Seals Market Outlook, By Static Seals (2020-2028) ($MN)
22 Global Gaskets and Seals Market Outlook, By Molded Packing & Seals (2020-2028) ($MN)
23 Global Gaskets and Seals Market Outlook, By Rotatory & Swivel Seal (2020-2028) ($MN)
24 Global Gaskets and Seals Market Outlook, By O-Ring Seal (2020-2028) ($MN)
25 Global Gaskets and Seals Market Outlook, By Motor Vehicle Body Seal/Mechanical Seals (2020-2028) ($MN)
26 Global Gaskets and Seals Market Outlook, By Hydraulic Seals (2020-2028) ($MN)
27 Global Gaskets and Seals Market Outlook, By Dynamic Seals (2020-2028) ($MN)
28 Global Gaskets and Seals Market Outlook, By Shaft Seal (2020-2028) ($MN)
29 Global Gaskets and Seals Market Outlook, By Gaskets (2020-2028) ($MN)
30 Global Gaskets and Seals Market Outlook, By Spiral Wound Gasket (2020-2028) ($MN)
31 Global Gaskets and Seals Market Outlook, By Rubber/Sponge Gasket (2020-2028) ($MN)
32 Global Gaskets and Seals Market Outlook, By Grooved Gaskets (2020-2028) ($MN)
33 Global Gaskets and Seals Market Outlook, By Non-Asbestos Gasket (2020-2028) ($MN)
34 Global Gaskets and Seals Market Outlook, By Kammprofile Gaskets (2020-2028) ($MN)
35 Global Gaskets and Seals Market Outlook, By Jacketed Gaskets (2020-2028) ($MN)
36 Global Gaskets and Seals Market Outlook, By Ring Joint Gaskets (2020-2028) ($MN)
37 Global Gaskets and Seals Market Outlook, By Cork Gasket (2020-2028) ($MN)
38 Global Gaskets and Seals Market Outlook, By Application (2020-2028) ($MN)
39 Global Gaskets and Seals Market Outlook, By Heat Exchangers (2020-2028) ($MN)
40 Global Gaskets and Seals Market Outlook, By Valve Bonnets (2020-2028) ($MN)
41 Global Gaskets and Seals Market Outlook, By Pressure Vessels (2020-2028) ($MN)
42 Global Gaskets and Seals Market Outlook, By Manhole Covers (2020-2028) ($MN)
43 Global Gaskets and Seals Market Outlook, By Handhole (2020-2028) ($MN)
44 Global Gaskets and Seals Market Outlook, By Pipe Flanges (2020-2028) ($MN)
45 Global Gaskets and Seals Market Outlook, By Distribution Channel (2020-2028) ($MN)
46 Global Gaskets and Seals Market Outlook, By Aftermarket (2020-2028) ($MN)
47 Global Gaskets and Seals Market Outlook, By Original equipment manufacturer (OEM) (2020-2028) ($MN)
48 Global Gaskets and Seals Market Outlook, By End User (2020-2028) ($MN)
49 Global Gaskets and Seals Market Outlook, By Power Generation (2020-2028) ($MN)
50 Global Gaskets and Seals Market Outlook, By Oil & Gas (2020-2028) ($MN)
51 Global Gaskets and Seals Market Outlook, By Marine & Rail (2020-2028) ($MN)
52 Global Gaskets and Seals Market Outlook, By Automotive (2020-2028) ($MN)
53 Global Gaskets and Seals Market Outlook, By Industrial & Manufacturing (2020-2028) ($MN)
54 Global Gaskets and Seals Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
55 Global Gaskets and Seals Market Outlook, By Chemicals & Petrochemicals (2020-2028) ($MN)
56 Global Gaskets and Seals Market Outlook, By Machinery (2020-2028) ($MN)
57 Global Gaskets and Seals Market Outlook, By Aerospace (2020-2028) ($MN)
58 Global Gaskets and Seals Market Outlook, By Other End Users (2020-2028) ($MN)
59 Global Gaskets and Seals Market Outlook, By Water Treatment (2020-2028) ($MN)
60 Global Gaskets and Seals Market Outlook, By Textile (2020-2028) ($MN)
61 Global Gaskets and Seals Market Outlook, By Paper and pulp industry (2020-2028) ($MN)
62 Global Gaskets and Seals Market Outlook, By Food & Pharmaceutical (2020-2028) ($MN)
63 Global Gaskets and Seals Market Outlook, By Agriculture & Construction (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
 

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