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The gasket and seal materials market is estimated to grow by USD 17.75 billion at a CAGR of 5.84% between 2022 and 2027. The market experiences rapid growth in developing economies like India, China, Brazil, Mexico, the Philippines, and Indonesia, where many manufacturers are relocating operations. Factors like abundant raw materials, land, inexpensive labor, and lenient regulations drive this growth. China and India's emergence as manufacturing hubs in APAC boost the demand for durable gaskets and seals across various sectors, including automotive and construction. Additionally, the expanding construction, logistics, and mining industries, particularly in China, propel the commercial vehicle market, further stimulating demand for gaskets and seals.
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This market report extensively covers market segmentation by End-user (OEMS and aftersales market), Application (automotive, industrial machinery, electrical and electronics, oil and gas, and others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
The market share growth by the OEMs segment will be significant during the forecast period. The OEMs segment accounted for a higher share than the aftersales segment in the global market in 2022. The demand for these materials in the OEM segment is primarily driven by the increased adoption of gaskets and seals by vehicle manufacturers.
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The OEMs segment was valued at USD 30.85 billion in 2017 and continued to grow until 2021. Gaskets and seals are important to prevent leakages in engines. Moreover, manufacturers are continuously innovating to be on par with the changes in automotive engines. Variations to gaskets and seals have been introduced, which are currently being used in various end-users such as automotive and industrial machinery. These factors will fuel the OEMs segment in the global market during the forecast period.
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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The increase in demand for such materials from various industries, such as automobile, electric and electronics, and industrial machinery, is expected to drive the regional market during the forecast period. One of the significant factors influencing the growth of the regional market is the increase in the number of automotive manufacturing plants. Currently, APAC is the global leader in terms of automotive production and is expected to continue dominating the market during the forecast period.
Furthermore, in India, high investments in the water treatment sector are being fueled. The factors responsible for this are the lack of fresh water and the depletion of groundwater resources. Additionally, the growing population intensity is resulting in the government's inability to create sufficient infrastructure for properly handling and treating wastewater. Therefore, the Indian government is increasingly resorting to the public-private partnership model to create more wastewater treatment facilities. Such initiatives by the government are driving the demand for these materials in APAC. Owing to these factors, the market in APAC is expected to witness steady growth during the forecast period.
The gasket and seals material market encompasses diverse materials like silicone, metal, thermoplastics, and elastomers. Applications span various sectors, including aerospace and power generation. Notably, copper, stainless steel, and ceramics find utility in demanding environments. With a focus on quality, direct sales channels target the OEM segment, emphasizing products like metallic gaskets and elastomers tailored for specific industry needs. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is driven significantly by the increased utilization of gaskets and seals to enhance the operational efficiency of engineering equipment. Essential sectors such as oil and gas, chemical, mining, and food processing heavily rely on engineered machinery for their day-to-day activities. The occurrence of fluid, oil, and lubricant leaks can severely impair equipment performance, underscoring the importance of gaskets and seals in maintaining optimal functionality. Periodic upgrades of these components not only enhance the efficiency and productivity of machinery but also drive aftermarket sales due to their relatively short lifespan. For instance, John Crane reported that the oil and gas and petrochemical sectors accounted for 30% of its total aftermarket sales, highlighting the demand for replacements in these industries. This trend is expected to further boost the global market during the forecast period.
An emerging trend in the market is the growth in aftermarket sales. Materials with varying lifespans, dependent on their application, require regular replacement to adhere to federal or local emission regulations and maintain process efficiency by preventing leakage. The replacement or upgradation of these materials significantly contributes to the expansion of the global market.
A significant portion of the global market relies on aftermarket sales. The majority of mechanical seal replacements follow a like-for-like approach, wherein end-users continue to use the same type of seals, such as cartridge seals. Given the short lifespan of most seals and the need for frequent replacement, vendors are increasingly prioritizing aftermarket sales. This surge in aftermarket sales is anticipated to propel the global market during the forecast period.
The volatility in raw material prices is a major challenge impeding the market. The fluctuating prices of raw materials for the production of metallic and non-metallic gaskets and seals are expected to hamper the market growth. Some of the metals used in manufacturing metallic gaskets include stainless steel, aluminum, titanium, and copper. Silicone, PTFE, thermoplastic polyurethane (TPU), fluorocarbon elastomer, natural rubber, and graphite are some of the materials used in the production of non-metallic gaskets.
Therefore, an increase in the prices of raw materials is expected to increase the cost of production and result in a subsequent decline in the profit margins. Additionally, the cost of energy for production, along with the transportation and secondary materials costs, are also increasing. Hence, all these factors will likely hinder the market during the forecast period.
The report includes the market's adoption lifecycle, covering the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Excelsior Inc. - The company provides contract manufacturing and distribution services for metallic and non-metallic products such as gaskets, washers, seals, insulators, packings, shims, and shipping materials.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market caters to various industries like oil and gas, chemical, and automotive sectors, offering essential components for maintenance and lubrication. Particularly in the Asia-Pacific region, applications span across valves, pumps, piping, and storage tanks, adhering to ANSI/ASME standards. Notably, India's Oil and Natural Gas Corporation (ONGC) and China National Petroleum Corporation (CNPC) drive demand in exploration and production, while the United States and Russia lead in offshore exploration. The market also serves aerospace, power generation, and electrical sectors, offering a wide array of materials like elastomers, ceramics, and thermoplastics through direct sales channels and third-party distributors, ensuring compliance with regulatory bodies like the FDA and ASTM.
The market spans various sectors, from automotive to aerospace, with glass and concrete emerging as notable materials. Third-party distributors and suppliers ensure timely access to products meeting stringent FDA, ASTM, and CFR standards. Robotic programming and automated dispensing technologies address the substitution threat, enhancing production efficiency. FIP liquid gaskets dominate the seals segment, catering to water purifiers, heaters, and treatment vessels. Mechanical seals find application in steam pressure vessels and generators. In the automotive segment, seals are critical for powertrain integrity, chassis stability, and exhaust manifold sealing. Aerospace and marine industries demand high-performance gaskets for safety and efficiency, while MRO activities rely on engineered plastics for retrofitting and repair.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Gasket And Seal Materials Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.84% |
Market growth 2023-2027 |
USD 17.75 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.6 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
A.W. Chesterton Co., AB SKF, Aesseal Plc, AMETEK Inc., Boyd Corp., Cooper Standard Holdings Inc., Dana Inc., ElringKlinger AG, EnPro Industries Inc., Excelsior Inc., Flowserve Corp., Freudenberg SE, HEXPOL AB, Meccanotecnica Umbra SPA, Parker Hannifin Corp., Sealmax, Stockwell Elastomerics Inc., Tenneco Inc., Trelleborg AB, and VALQUA Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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