Gaskets and Seals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Gaskets and Seals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A1625
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Market Overview:

The global gaskets and seals market size reached US$ 62.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 80.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.99% during 2023-2028.

Gaskets and seals are mechanical fixtures that are used to prevent leakage of fluid between two components and admission of debris in engines. Gaskets act as a static seal between two non-mobile flat flanges. They are manufactured using materials that can handle high rates of compression such as rubber, nitrite, graphite and neoprene. On the other hand, seals are placed to prevent leakages from two moving parts such as shafts, pumps and engine components. They are usually flat and round and manufactured with an inner rubber surface and an outer metal ring. They are primarily used to seal the hydraulic line to prevent leakage from the shaft end. Both gaskets and seals offer high flexibility, reliability, strength and resistance to extreme heat.

 

 
 

 

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The thriving automotive industry, along with the increasing product utilization in the plumbing and construction sector, represent the key factors driving the market growth. Owing to rising industrialization and rapid urbanization across the globe, there is a significant increase in the number of manufacturing plants and factories that use gaskets and seals. The automotive industry extensively utilizes the products to avoid the leakage or spillage of fluids and gases. Furthermore, gaskets are used in engines to maintain pressure and prevent contaminated particles from permeating, whereas seals are used as shock absorbers. They can also sustain extreme pressures, compressive loads and temperature variations due to which they are used in various sealing machines and equipment in the manufacturing sector. Moreover, the growth of the e-commerce platform that provides direct and third-party operated distribution channels to the manufacturers is also contributing to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global gaskets and seals market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product, material, application and end-use.

Breakup by Product:

 

 
 

 

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  • Gaskets
    • Metallic Gasket
    • Rubber Gasket
    • Cork Gasket
    • Non-Asbestos Gasket
    • Spiral Wound Gasket
    • Others
  • Seals
    • Shaft Seals
    • Molded Seals
    • Motor Vehicle Body Seals
    • Others
       

Breakup by Material:

  • Fiber
  • Graphite
  • PTFE
  • Rubber
  • Silicones
  • Others
     

Breakup by Application:

  • Automotive
  • Industrial Machinery
  • Electrical and Electronics
  • Marine & Rail
  • Aerospace
  • Oil & Gas
  • Chemicals & Petrochemicals
  • Others
     

Breakup by End-Use:

  • OEM
  • Aftermarket
     

Breakup by Region:

 

 
 

 

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  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
     

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being AB SKF, Dana Incorporated, ElringKlinger, Flowserve, Trelleborg, Freudenberg Sealing Technologies, Federal-Mogul, Smiths Group, BRUSS Sealing Systems, Cooper Standard Holding, Garlock Sealing Technologies, Daetwyler Holding, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product, Material, Application, End-Use, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered AB SKF, Dana Incorporated, ElringKlinger, Flowserve, Trelleborg, Freudenberg Sealing Technologies, Federal-Mogul, Smiths Group, BRUSS Sealing Systems, Cooper Standard Holding, Garlock Sealing Technologies and Daetwyler Holding
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global gaskets and seals market was valued at US$ 62.9 Billion in 2022.

We expect the global gaskets and seals market to exhibit a CAGR of 3.99% during 2023-2028.

The rising demand for gaskets and seals, as they offer high flexibility, reliability, strength, resistance to extreme heat, etc., is primarily driving the global gaskets and seals market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for vehicles, thereby negatively impacting the global market for gaskets and seals.

Based on the product, the global gaskets and seals market has been segmented into gaskets and seals, where seals currently hold the majority of the total market share.

Based on the material, the global gaskets and seals market can be divided into fiber, graphite, PTFE, rubber, silicones, and others. Currently, rubber exhibits a clear dominance in the market.

Based on the application, the global gaskets and seals market has been categorized into automotive, industrial machinery, electrical and electronics, marine & rail, aerospace, oil & gas, chemicals & petrochemicals, and others. Among these, the automotive industry currently accounts for the majority of the global market share.

Based on the end-use, the global gaskets and seals market can be segregated into OEM and aftermarket. Currently, OEM holds the largest market share.

On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global gaskets and seals market include AB SKF, Dana Incorporated, ElringKlinger, Flowserve, Trelleborg, Freudenberg Sealing Technologies, Federal-Mogul, Smiths Group, BRUSS Sealing Systems, Cooper Standard Holding, Garlock Sealing Technologies, Daetwyler Holding, etc.

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Gaskets and Seals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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