According to IMARC Group’s latest report, titled “Gaskets and Seals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 60.2 Billion in 2021. Gaskets and seals refer to mechanical fixtures that are widely utilized to prevent fluid leakage. Gaskets are static seals generally used to seal two flat surface components or flanges that are manufactured using nitride, rubber, graphite and neoprene. On the other hand, seals are utilized between rotating components, such as pumps, engine parts and shafts. They consist of an outer metal ring and an inner rubber surface that is usually flat and round in shape.
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The global market is primarily driven by significant growth in the construction industry. Along with this, the widespread usage of gaskets and seals in the automotive industry to prevent the spillage and leakage of fluids and gases is also providing an impetus to the market growth. Some of the other factors contributing to the market growth include the increasing adoption of mechanical equipment in several industrial processes and extensive research and development (R&D) activities conducted by key players. Looking forward, IMARC Group expects the gaskets and seals market to reach US$ 77.1 Billion by 2027, exhibiting at a CAGR of 4.13% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- AB SKF
- Dana Incorporated
- Freudenberg Sealing Technologies
- Smiths Group
- BRUSS Sealing Systems
- Cooper Standard Holding
- Garlock Sealing Technologies
- Daetwyler Holding
- Historical, Current and Future Market Trends
- Market Breakup by Product:
- Metallic Gasket
- Rubber Gasket
- Cork Gasket
- Non-Asbestos Gasket
- Spiral Wound Gasket
- Shaft Seals
- Molded Seals
- Motor Vehicle Body Seals
- Market Breakup by Material:
- Market Breakup by Application:
- Industrial Machinery
- Electrical and Electronics
- Marine & Rail
- Oil & Gas
- Chemicals & Petrochemicals
- Market Breakup by End-Use:
- Market Breakup by Region:
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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