Gaskets And Seals Market Size, Share & Trends Analysis Report By Product (Gaskets, Seals), By Application (Automotive, Aerospace), By End-user (OEM, Aftersales Market), And Segment Forecasts, 2022 - 2030

报告Overview

The global gaskets and seals market size was estimated at USD 56.93 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.1% over the forecast period. The use of advanced materials in manufacturing gaskets and seals for critical applications including aircraft manufacturing, medical equipment, and chemical processing is expected to drive the market growth over the forecast period. The global gaskets and seals industry has experienced limited growth as a consequence of the economic recession caused by the COVID-19 crisis, which has resulted in low investor confidence and a decline in industrial activities.

As a result, the market for gaskets and seal materials has also experienced a catastrophic setback. The COVID-19 pandemic in the U.S affected the growth of the industrial operations. The stay-at-home instructions and social distancing mandates also impacted the product demand. In the U.S., the automotive sector accounted for the largest market share in 2021 and is estimated to grow at a CAGR of 3.3% over the forecast period. Gaskets and seals are designed to help ensure performance efficiency and to support manufacturers to comply with stringent specifications and standards.

In addition, they also aid in reducing the risk of unexpected downtime and control emissions. In the automotive industry, increasing stringent emission norms are also one of the major factors that are expected to drive the product demand. The industrial sector is also witnessing the development of advanced power transmission seals, which are expected to demonstrate a notable reduction of power loss in drive assemblies as opposed to conventional sealing elements. These seals comprise revolutionary designs and special materials, which offer superior performance under extreme pressure conditions.

They also ensure the optimization of sealing function, friction, and abrasion resistance. The use of advanced sealing systems and components is projected to enhance the production efficiency and sustainability of plants. Thus, it allows products to be manufactured with greater resource efficiency. Companies are also installing indicators to gauge energy efficiency and emissions at plants. Hence, sealing solutions are expected to aid the growth of green manufacturing across the industrial sector, thereby driving the overall demand for seals in the market.

Product Insights

The seals product segment led the market and accounted for more than 61.00% share of the global revenue in 2021. They are used in various applications ranging from automobiles, rockets, ships, industrial plant equipment, and consumer devices. Thus, the rise of automobile and electronics production in the global market is anticipated to drive the demand for mechanical seals. The seals product segment is expected to grow at a steady CAGR over the forecast period. The 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 gasket segment is projected to register the fastest CAGR over the forecast period. The gaskets handle pressure and temperature fluctuations, bolt stress relaxation, and creep. In addition, it prevents the ingress or leak of toxic and corrosive chemicals and media. Thus, gaskets are widely used for extreme chemical and temperature demands in the chemical process and aerospace. Non-metallic gaskets are witnessing high demand in automotive electronics, further supplemented by the rising automotive production, particularly in Asia Pacific and Europe. In addition, gaskets manufactured with advanced materials, which are lightweight and offer high functionality, are expected to drive the demand for non-metallic gaskets.

End-user Insights

OEM部门领导市场,2021年占for the largest share of 60% of the overall revenue. The development of advanced proprietary materials to withstand extreme operating conditions is expected to drive the market growth of gaskets and seals. The OEM sector is estimated to expand further at the fastest CAGRduring the forecasted years. The marine industry OEM requires more than fluid or water resistance properties through their cushioning and gasketing system to withstand physical shocks, weather vibrations, intense temperature fluctuations, and more to protect industrial duty applications.

Gaskets and seals are important components in Maintenance, Repair, and Operations (MRO) operations as they play a critical role in fluid and gas leakage handling and are removed after a single use. These products are replaced each time the gases and fluids are changed in the system. As a result, a significant number of gaskets and seals are required for MRO operations in several industries. The development of engineered plastics and elastomers for manufacturing seals for aerospace applications is likely to drive the replacement of conventional seals. Furthermore, the development of advanced seals, which offer lightweight and space-saving solutions with exceptional thermal resistance, is expected to drive the overall market growth.

Application Insights

The automotive application segment dominated the global market in 2021 and accounted for the largest share of more than 33.00% of the overall revenue.The wide application scope of seals in automotive interiors coupled with the growing affinity of consumers toward electronics in automobiles is anticipated to drive the segment growth. The automotive sector was followed by the electrical & electronics and industrial manufacturing sectors. The electrical and electronics industry is anticipated to witness exponential growth due to increasing investment and innovation leading to a rise in the digital economy.

Seals and gaskets are used in a broad spectrum of applications in electrical and electronics manufacturing, such as switches, LCDs, transformers, timers, telecommunication devices, and other microelectronics. As a result, an increase in the production of electronic appliances, such assmartphones,watches, refrigerators, and TVs, backed by the growing consumer spending, is expected to drive the product demand. Gaskets and seals cater to requirements in midstream oil & gas operations including pipeline connectors, valves, separators, Pig launchers, disposal tanks, slug catchers, and regenerators. Newly developed advanced gasket and seals offer chemical resistance and short manufacturing lead times for replacement seals to cater to unscheduled or scheduled MRO requirements. These factors are anticipated to bolster the growth of the market.

Regional Insights

Asia Pacific region led the market and accounted for the largest share of more than 44.5% of the global revenue in 2021. Factors, such as robust economic growth, increased business investment spending, and strong gains in manufacturing output have been driving the market growth, especially in countries, such as China and Japan. The market for insulation in North America is highly influenced by stringent guidelines by the Environmental Protection Agency (EPA) and the increasing need for reducing hazardous emissions from rotating equipment across the industrial sector. In addition, chemical, oil & gas, food & beverage, and pharmaceutical industries require superior sealing solutions to prevent contamination of end products.

Europe also accounted for a significant market share in 2021. The market is the major producer of clean automotive, having decreasing usage of water and energy required in vehicle manufacturing and less waste and CO2 production. 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. The market in the Middle East region is expected to register a notable CAGR from 2022 to 2030 owing to the rising government investments in expanding indigenous manufacturing capabilities. In addition, the Middle East region is one of the major contributors to the global aerospace MRO industry, thereby driving market growth.

Key Companies & Market Share Insights

The global market is characterized by the presence of various small- and large-scale vendors, resulting in a moderate level of concentration in the market. Key players are concentrating on new joint ventures, collaborations, agreements, and strategies to advance their production facilities and gain a larger share in the market. Companies are also involved in the production of a number of advanced products and frequently update their product portfolio. The introduction of advanced form-in-place liquid gaskets is one of the major areas expected to foresee voluminous research & development undertaken by companies over the forecast period. Some of the prominent players in the global gaskets and seals market are:

• SKF

• Dana Ltd.

• Crown Gaskets Pvt. Ltd.

• Freudenberg Sealing Technologies GmbH & Co. KG

• Flowserve Corp.

• Smiths Group Plc

• Garlock Sealing Technologies LLC

• Bruss Sealing System GmbH

• Cooper Standard

• ElringKlinger AG)

GasketsAndSeals Market Report Scope

报告Attribute	Details
Market size value in 2022	USD 58.66 billion
Revenue forecast in 2030	USD 81.70 billion
Growth rate	CAGR of 4.1% from 2022 to 2030
Base year for estimation	2021
Historical data	2017 - 2020
Forecast period	2022 - 2030
Quantitative units	Revenue in USD million/billion and CAGR from 2022 to 2030
报告coverage	Revenue forecast, competitive landscape, growth factors, and trends
Segments covered	Product, application, end-user, region
Regional scope	North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scope	U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Argentina; Saudi Arabia; UAE
Key companies profiled	SKF; Dana Ltd.; Crown Gaskets Pvt. Ltd.; Freudenberg Sealing Technologies GmbH & Co. KG; Flowserve Corp.; Smiths Group Plc; Garlock Sealing Technologies LLC; Bruss Sealing System GmbH; Cooper Standard; ElringKlinger AG
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
革命制度党cing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

SegmentsCoveredin the报告

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global gaskets and seals market report based on product, application, end-user, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Gaskets

    • Metallic

    • Semi-metallic

    • Non-metallic

  • Seals

    • Shaft Seal

    • Molded Packing & Seals

    • Motor Vehicle Body Seal

    • 其他人

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Automotive

  • Electrical & Electronics

  • Marine & Rail

  • Industrial & Manufacturing

  • Aerospace

  • Oil & Gas

  • Chemicals & Petrochemicals

  • 其他人

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • OEM

  • Aftersales market

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Middle East & Africa

    • Saudi Arabia

    • UAE

  • Central & South America

    • Brazil

    • Argentina