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The gasket and seal materials market size is forecast to increase by USD 20.2 billion at a CAGR of 6.25% between 2023 and 2028. The market is experiencing significant growth, driven by several key trends. One of the primary factors fueling market expansion is the increasing demand from developing countries, particularly in Asia Pacific, due to growing industrialization and infrastructure development. Another trend influencing market growth is the rise in aftermarket sales, as vehicle owners seek to maintain the performance and longevity of their engines and machinery. Stringent regulations and policies aimed at enhancing safety and efficiency also present opportunities for gasket and seal material manufacturers. These factors collectively contribute to the market's growth and are expected to continue shaping its trajectory in the coming years.
The market is witnessing significant growth due to increasing demand from various industries such as aircraft manufacturing, chemical processing, power transmission seals in technological products, and drive assemblies in consumer durable goods. Advanced materials like metals, thermoplastics, elastomers, ceramics, glass, concrete, stainless steel, aluminum, and titanium are extensively used in the production of gaskets and seals. Strict pollution regulations are driving the adoption of advanced sealing materials in industries to minimize emissions and improve efficiency. In medical equipment, vibration-resistant gaskets and seals made of advanced materials are increasingly being used to ensure the reliability and accuracy of equipment.
Automated gasketing technologies and 3D printing techniques are also gaining popularity due to their ability to produce high-precision gaskets and seals with complex geometries. Overall, the market is expected to grow steadily in the coming years, driven by the increasing demand from various end-use industries and the development of advanced materials and manufacturing technologies.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The OEMs segment is estimated to witness significant growth during the forecast period. In the OEMs segment, titanium gaskets and seals have gained significant traction in various industries due to their high strength, corrosion resistance, and ability to withstand extreme temperatures and pressures. Automated gasketing technologies, such as 3D printing techniques and robotic programming, have revolutionized the production process, ensuring precision and efficiency. FIP liquid gaskets, a type of metallic gaskets, are widely used in rotating machines, consumer devices, industrial plant equipment, ships, automobiles, rockets, and electronics production to prevent leakage of fluids. The seals segment, including packing seals, also benefits from these advancements, ensuring optimal performance in power transmitting shafts and other critical applications. Metallic and semi-metallic gaskets find extensive use in high-temperature and pressure applications, such as water heaters, steam pressure vessels, generators, treatment vessels, steam humidifiers, automotive engine applications, powertrain, chassis, exhaust manifolds, interior applications, and aerospace applications for aircraft OEMs and aftermarket services.
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The OEMs segment was valued at USD 32.40 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 38% 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.
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Titanium gaskets and seals are increasingly being adopted in various industries due to their high strength, corrosion resistance, and ability to withstand high temperatures and pressures. Automated gasketing technologies, such as 3D printing techniques and robotic programming, are revolutionizing the production process, ensuring precision and efficiency. FIP liquid gaskets, a type of metallic gaskets, are widely used in rotating machines, consumer electronics devices, industrial plant equipment, ships, automobiles, rockets, and electronics production to prevent leakage of fluids. The seals segment, including packing seals, is crucial in power transmitting shafts and other critical applications. Metallic and semi-metallic gaskets are preferred for high temperature and pressure applications, such as water purifiers, water softeners, filtering systems, demineralization plants, water heaters, steam pressure vessels, generators, treatment vessels, steam humidifiers, and automotive engine applications. In the automotive segment, gaskets are used in engine applications, powertrain, chassis, exhaust manifolds, interior applications, and aerospace applications for aircraft OEMs and aftermarket services.
Our researchers analyzed the data with 2023 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.
Increase in demand from developing countries is the key driver of the market. The market is experiencing significant growth, particularly in developing economies such as India, China, Brazil, Mexico, the Philippines, and Indonesia. This expansion is driven by various factors, including the availability of raw materials, affordable land, inexpensive labor, and reduced transportation costs.
Moreover, less stringent regulations and policies in these countries are attracting numerous gaskets and seals manufacturers. In the automotive sector, the OEM segment, including the marine industry OEM, is a major consumer of gaskets and seals to prevent fuel, coolant, and gas leakages in engine repair. The construction, medicine, oil, and gas industries also require durable, heat-tolerant gaskets with superior stability and chemical resistance, further fueling market growth.
Growth in aftermarket sales is the upcoming trend in the market. Gasket and seal materials play a vital role in various industries, including automotive and marine, by preventing fluid and gas leakages in engines and machinery. These components have a finite lifespan, which is influenced by the specific application and environmental conditions. Regular replacement or upgrading of gaskets and seals is essential to adhere to emission regulations and maintain process efficiency.
Moreover, engineered plastics, such as PTFE and PEEK, are increasingly being used due to their superior properties, including high temperature and pressure resistance. In the automotive sector, the OEM segment accounts for a significant portion of the market. Similarly, in the marine industry OEM, gasket and seal materials are indispensable in engine repair to prevent coolant, fuel, and gas leakages, ensuring optimal engine performance.
Stringent regulations and policies is key challenge affecting the market growth. The gasket and seal market witness significant demand from various end-use industries, including the automotive and marine sectors. In the automotive industry, engineered plastics are increasingly being used to manufacture gaskets and seals due to their superior properties, such as high strength, durability, and resistance to fuel, coolant, and gas leakage. The OEM segment, in particular, is a major consumer of gaskets and seals, as they are essential components in engine repair and manufacturing. The marine industry OEM also contributes substantially to the market growth, given the harsh operating conditions of marine engines. However, stringent regulations by environmental agencies, such as the EPA and REACH, can pose challenges to market expansion.
However, these regulations impose strict standards on gasket and seal materials used in the medical and food industries, requiring them to provide biological safety and sanitary performance. In the US, for instance, the Food and Drug Administration (FDA) implements guidelines on the use of materials for medical applications, as outlined in the Code of Federal Regulations (CFR) 21, Part 177 1660. These regulations can lead to lengthy approval processes and increased costs, potentially hindering market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from 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 market growth analysis strategies.
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.
A.W. Chesterton Co. - The company specializes in providing a diverse range of gasket and seal materials for various industries. Our offerings cater to the automotive, industrial, and construction sectors, among others. With a commitment to quality and performance, we ensure that our products meet the highest industry standards.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing demand from various industries such as aircraft manufacturing, medical equipment, and chemical processing. Strict pollution regulations are driving the market for advanced materials like PTFE, ceramics, and glass in the production of seals for power transmission and drive assemblies. Sealing performance and abrasion resistance are key factors influencing the selection of materials for gaskets and seals. In the chemical processing industry, rubber, fiber, metal, and thermoplastics are widely used due to their excellent sealing properties. In the aerospace and defense sector, lightweight materials like aluminum and thermoplastic elastomers are preferred for their high production efficiency and plant sustainability.
Moreover, the food and beverage industry requires seals with excellent fluid transfer properties and resistance to vibrations. In the oil and gas sector, seals made of elastomers and metals are used for their resource efficiency and ability to withstand harsh operating conditions. Electricals and electronics, consumer durable goods, and technological products also contribute to the growth of the gaskets and seals market. The use of advanced materials like ceramics and thermoplastic elastomers is increasing in these industries due to their superior sealing performance and ability to withstand high temperatures and pressures. Overall, the gaskets and seals market is expected to grow significantly due to the increasing demand from various end-use industries and the development of new materials with improved properties.
Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.25% |
Market growth 2024-2028 |
USD 20.2 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.78 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
China, US, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, 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 and Co. KG, HEXPOL AB, Meccanotecnica Umbra S.p.A., Parker Hannifin Corp., Sealmax, Stockwell Elastomerics Inc., Tenneco Inc., Trelleborg AB, and VALQUA Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, 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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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