Gaskets and Seals Market Size, Share & Trends Report

Gaskets and Seals Market Size, Share & Trends Analysis Report By Product, By End Use, By Application (Automotive, Electrical & Electronics, Aerospace, Oil & Gas), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Feb, 2019
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-801-5
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 190

Industry Insights

The global gaskets and seals market size was estimated at USD 59.61 billion in 2017 and is expected to exhibit a CAGR of 5.2% from 2018 to 2025. Increasing application of form-in place gaskets in the growing automotive industry is expected to be one of the primary factors driving overall demand. Factors such as strong guidelines from the Environmental Protection Agency (EPA) coupled with affinity towards reduction of hazardous emissions is anticipated to drive the growth. In addition, superior sealing requirements primarily in the oil and gas, food and beverage, and chemical industries is expected to create revenue generation opportunities in the forthcoming years.

Continued rise in demand for consumer durable goods coupled with launch of advanced technological products is expected to drive the market for gasket and seals in U.S. In addition, rising use of advanced products with superior sealing abilities across the healthcare and industrial manufacturing industry is also expected to boost the product demand.

U.S. gaskets and seals market

Development of automated gasket production technologies with features including retrofit designs and emphasis on user convenience is expected to enhance the production output. In addition, emergence of 3D printing techniques for manufacturing has led to low turnaround time and multi-material option for the production of gaskets and seals.

Abundance of raw materials is expected to benefit the industry growth over the forecast period. However, increasing volatility in crude oil prices is expected to impart a degree of uncertainty in the price of the raw materials, which is anticipated to negatively impact the market growth.

The manufacturers operate their business through extensive direct and third-party operated distribution channels. In addition, growth of e-commerce sales platform across the globe is expected to emerge as the primary factor driving the market growth over the next seven years.

Product Insights

Gaskets are expected to witness significant CAGR owing to their use in a wide range of applications including water purifiers, water softeners, and filtering systems. This segment accounted for a revenue of USD 24.09 billion in 2017 and is expected to witness notable growth due to creep resistance coupled with superior performance of the product under pressure and temperature fluctuations.

Cylinder head gasket is one of the major components in a combustion engine, with growth of the product expected to benefit from the rising automotive production primarily in Asia Pacific and Europe. In addition, introduction of advanced products with lighter weight coupled with increasing affinity of automotive manufacturers towards vehicle light-weighting is expected to drive growth.

Increasing use of seals to prevent environmental contamination and energy saving through effective sealing is expected to drive the market growth. High demand for specific products, such as packing seals in power transmitting shafts of rotating machines, is expected to drive growth over the forecast period.

The semi-metallic gaskets used in cylinder heads, exhaust manifolds, and other high temperature applications provide superior performance relative to the conventional products, thereby driving the demand. In addition, high demand for solid silicon based products in healthcare industry is expected to benefit the gaskets and seals market.

Application Insights

Automotive application accounted for the largest market share of 34.5% in 2017, owing to wide range of applications including powertrains and engine block. In addition, rising substitution of conventional products by advanced sealing methods, such as FIP gasketing and 3D printing is expected to drive growth.

The seals provide cushioning between the joined surfaces, thereby mitigating vibrations and noise in automobiles. In addition, rising impact of stringent norms regarding vehicle noise limits is leading the demand for the product across the global market. Moreover, demand for lightweight sealing solutions is expected to drive the market for non-metallic seals.

Seals and gaskets find a wide range of applications, such as LCD displays, switches, timers, transformers, and telecommunications devices in electrical and electronics industry. Increasing production of electronic appliances, such as watches, smartphones, TVs and refrigerators backed by rising consumer spending is expected to drive the growth.

Rise in aircraft production coupled with the rising aerospace MRO industry is expected to emerge as one of the primary reasons driving the market over the forecast period. In addition, rise in industrial manufacturing, primarily in Asia Pacific driven by economic growth is expected to benefit growth.

End Use Insights

Recurring revenue is common for the OEMs, driven by frequent replacement of components due to degradation and wear from fluid system temperatures, pressure and acidic material flows. Aftermarket services include the replacement of sheets and O-rings, as well as machining and molding of metal components.

The marine industry OEM requires complex fluid or water resistance, which are provided through their cushioning and gasketing system, to withstand physical shocks, weather vibrations, and intense temperature fluctuations among others to protect industrial duty applications. As a result, a majority of in marine industry sale is carried out by the OEMs.

Global gasket and seals market

Gaskets and seals are an essential part of any engine repair. They prevent leakage of gases, coolant, and fuel and are discarded after single use. They are replaced each time fluids and gases are removed from engines. Sizeable number of gaskets and seals are required for any major repair operation in the automotive sector, driving the market growth.

The demand from OEMs is expected to expand at a CAGR of 5.4% from 2018 to 2025 on account of the increasing production in automotive and aerospace industries. In addition, rise of manufacturing industry in Asia Pacific on account of increasing governmental efforts to boost the economic growth, is expected to drive the product demand.

Regional Insights

Europe is expected to register a CAGR of 4.6% from 2018 to 2025 on account of the growing use of the products in aerospace and marine and rail industry. In addition, the market is also expected to rise on account of the presence of a notable chemicals manufacturing industry wherein the products are used in equipment production and maintenance.

Asia Pacific leads the global market, owing to increasing electronics and automobile production in China, Japan, India, and South Korea. Moreover, factor such as robust economic growth, increase in business spending, and strong economic gains in manufacturing output in developing countries is also expected to positively impact the regional growth.

Favorable regulatory policies implemented by the government to promote the manufacturing output of automobile industry is expected to drive the demand for gaskets and seals in India. In addition, factors such as demand for passenger cars on account of rising disposable income and rapid industrialization, is also anticipated to drive the automotive industry.

Europe’s aerospace and defense industry is anticipated to surpass that of the U.S. over the forecast period due to increase in defense spending. This growth of aerospace and defense industry is projected to drive the demand for gaskets and seals due to applications in engine, avionic, and other aircraft parts.

Gaskets and Seals Market Share Insights

Key market players are involved in manufacturing a number of advanced products and they frequently update their product portfolio. Introduction of advanced form-in place liquid gaskets is one of the major areas expected to foresee significant R&D undertaken by companies over the forecast period.

Market players lay high emphasis on the use of online sales platforms as distribution channels, majorly to focus on the sales for non-business consumers. In addition, key companies operate their business through extensive third-party distribution channels to strengthen their geographical presence.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Million and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country scope

U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, China, India, Japan, South Korea Brazil, Argentina, Saudi Arabia

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

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Segments Covered in the Report

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 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global gaskets and seals market report on the basis of product, application, end use, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Gaskets

      • Metallic

      • Semi-metallic

      • Non-metallic

    • Seals

      • Shaft

      • Molded Packing & Seals

      • Motor Vehicle

      • Others

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Automotive

    • Electrical & Electronics

    • Marine & Rail

    • Industrial & Manufacturing

    • Aerospace

    • Oil & gas

    • Chemicals & Petrochemicals

    • Others

  • End Use Outlook (Revenue, USD Million; 2014 - 2025)

    • OEM

    • Aftermarket

  • 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

      • UAE

Key questions answered by the report
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