The
global gaskets and seals market size is expected to reach
USD 74.2 billion by 2025, registering a CAGR of 3.7% from 2018 to 2025,
according to a new report by Grand View Research, Inc. Increasing demand for
these products in fluid transfer applications in semi-conductor manufacturing
is expected to drive the overall market growth.
Gaskets
and seals are critical components in complex mechanical systems in the
manufacturing sector to reduce environmental impact and prevent personal
injuries due to fugitive emissions. Thus, the rising environmental concerns
owing to industrial emissions, coupled with implications of stringent emission
standards, is expected to positively influence the market growth.
Key
industry participants are developing advanced engineered sealing solutions with
a corrugated metal core combined with compressible sealing element of various
materials. These products are hence suitable for use in harsh operating
conditions such as corrosive chemicals, extreme temperature, and thermal
cycling.Moreover, advanced sealing systems and components enhance the
production efficiency and sustainability of plants, there enabling greater
resource efficiency.
The
industry exhibits a minimal threat of substitution due to unavailability of
commercially viable alternatives for sealing solutions. However, rapidly rising
penetration of Form-In-Place (FIP) gaskets in automotive and electronic
manufacturing is expected to result in the internal substitution of their metal
counterparts across applications.
Key
industry participants are developing superior material technology, thereby
enhancing their sealing product offering. In addition, they are employing
competitive pricing strategies and are offering complete field support and
engineering assistance to gain a competitive edge and maintain their stronghold
in the market.
For Full Research Report On Gaskets And Seals Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/gaskets-seals-market
Further key
findings from the report suggest:
- The gaskets segment is
expected to register the highest CAGR of 4.0% from 2018 to 2025 owing to
the rising product demand in the chemical processing industry to address
environment concerns regarding emissions and to enhance industrial
efficiency
- Seals amounted to a revenue
of USD 34.2 billion in 2018 due to high product demand in microelectronics
and semi-conductor processing applications in the growing electrical and
electronics industry
- The demand for gaskets and
seals in the automotive industry is expected to value USD 26.6 billion by
2025 on account of their extensive use in the production and assembly of
powertrain, chassis, exhaust manifolds, and other components
- The market in China makes
the largest revenue contribution to the Asia Pacific gasket market,
accounting for more than 55.0% of the share in 2018. This is mainly
attributed to the extensive use of the product for automotive and
electronics manufacturing
- The gaskets and seals market
is characterized by the presence of numerous players exhibiting a vast
logistics network featuring a notable number of distributors and service
centers.
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https://www.grandviewresearch.com/industry-analysis/gaskets-seals-market/request/rs1
Grand View Research has segmented
the global gaskets and seals market on the basis of product, application, end
use, and region:
Gaskets and Seals
Product Outlook (Revenue, USD Million, 2014 - 2025)
- Gaskets
- Metallic
- Semi-metallic
- Non-metallic
- Seals
- Shaft Seals
- Molded Packing & Seals
- Motor Vehicle Seals
- Others
Gaskets and Seals
Application Outlook (Revenue, USD Million, 2014 - 2025)
- Automotive
- Electrical & Electronics
- Marine & Rail
- Industrial &
Manufacturing
- Aerospace
- Oil & Gas
- Chemicals & Petrochemicals
- Others
Gaskets and Seals
End-use Outlook (Revenue, USD Million, 2014 - 2025)
- OEMs
- Aftermarket
Gaskets and Seals
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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