The global gaskets and seals market size was valued at USD 57.4 billion in 2018 and is expected to exhibit a CAGR of 3.7% from 2018 to 2025. Growing demand for form-in-place sealing solutions with robotic accuracy in microelectronics and automotive applications is expected to drive the overall market over the forecast period.
Growing stringent industrial emission standards to address rising environmental concerns across the globe is driving the need for sealing solutions in industrial manufacturing. In addition, these sealing solutions act as a critical component in gas and fluid transfer applications in various industries as they prevent leakages, thereby maintaining production efficiency.
The U.S. aerospace and defense sector is the leading innovator and producer of advanced aircraft and space and defense systems across the globe. This subsequently drives the demand for gaskets and seals for applications such as fairings and internal cabin and galleys. The industry is consistently witnessing a rise in commercial aerospace exports such as aircraft engines, space systems, and parts, primarily driven by growing demand from Asia Pacific, Middle East, and Europe.
3D printing technology is witnessing a rising penetration in gaskets and seals manufacturing, thereby leading to the creation of an expansive product line with various specifications. These gaskets and seals are durable and intricate. 3D printing technology facilitates the development of the prototype of new seal design and also aids in designing custom 3D printed product designs.
Key industry participants are developing and testing gaskets and seals with composite material designs to improve the functionality of the product in harsh conditions in chemical processing and heat transfer applications. In addition, several players are developing patented materials for improving the features of sealing components, thus driving the demand for gaskets and seals.
The market industry exhibits an extensive product range to cater to a wide range of applications across various industries. Thus, it proves economically infeasible for players to cater to the demand from all industries. Manufacturers hence develop application-specific products to serve a selective range of industries, thereby maintaining the profit margins.
Gaskets are expected to witness a notable demand in pipeline and heat exchanger systems backed by increasing oil and gas exploration activities and the growing chemical processing industry. The gaskets segment was valued at USD 23.2 billion in 2018 and is expected to witness notable growth over the forecast period due to rising environmental concerns owing to fugitive emissions from industries.
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.
Seals amounted to a revenue of USD 34.2 billion in 2018 owing to its wide application in aerospace, climate control, filtration, electromechanical, hydraulic, pneumatic, and fluid and gas handling operations. Initiatives to maximize the production efficiency and rising energy consumption and greenhouse gas (GHG) reduction trends are expected to drive the demand for seals.
Continuous efforts across different industries to enhance the consumption of renewable energy resources, especially wind and solar energy, are expected to drive the construction of windmills and solar parks. Thus, it is expected to offer notable growth opportunities to the seals market, as seals form a major part of the wind turbine assembly, determining its reliability and longevity.
Automotive application dominated the overall gaskets and seals market accounting for a share of 35.1% in 2018. This is attributed to their wide range of applications, including engine block, body parts, and electronics. In addition, rising penetration of 3D printed sealing products and Form-In-Place gaskets in automotive applications is expected to drive the overall market growth.
The use of advanced sealing systems and components enhances the production efficiency and sustainability of plants, there enabling the production with greater resource efficiency. Hence, sealing solutions are expected to aid the growth of green manufacturing across the industrial sector, thereby driving the demand for sealing products in the market.
Seals and gaskets are used in a broad spectrum of applications in electrical and electronics manufacturing such as switches, LCD displays, transformers, timers, telecommunication devices, and other microelectronics. As a result, an increase in production of electronic appliances such as smartphones, watches, refrigerators, and TVs backed by growing consumer spending, is expected to drive the demand for gaskets and seals.
The development of robust sealing technology for superior performance in sub-sea oil discoveries is expected to positively influence the seals market growth. In addition, the development of RFID technology for seals provides durable and efficient seal management, thereby enhancing the long-term value of seals.
The demand for sealing products in OEMs is expected to register a CAGR of 3.9% from 2018 to 2025. This is attributed to the increasing product demand from the aerospace and electronics industries. In addition, growth of the manufacturing sector in Asia Pacific on account of the increasing government initiatives to aid the economic development is expected to drive the product demand in OEMs.
Initiatives to optimize the potential of wind and solar energy as a reliable source have attained significant investments in solar power plants as well as offshore and onshore-wind turbine technology. Thus, the prospective growth of solar and wind power plants is expected to drive the demand for seals in power transmission and fluid handling applications.
Gaskets and seals are important components in Maintenance, Repair, and Operations (MRO) operations since 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.
The Europe market is expected to register a moderate CAGR of 3.0% from 2018 to 2025 on account of the growing use of gaskets and seals in the aerospace and defense sector. The aerospace and defense industry in the region is expected to witness a notable growth on account of rising defense expenditures by economies such as Germany and France to fulfill North Atlantic Treaty Organization (NATO) requirements.
Factors such as steady economic growth, increasing business investment spending, and strong gains in manufacturing output are expected to drive the market in Asia Pacific, especially in countries such as China and Japan. In addition, an increase in motor vehicle production and sales is likely to bolster the demand for sealing products in the region.
U.S. chemical manufacturers exhibit a competitive edge owing to access to cheaper and more abundant feedstock and energy, thus attracting sizeable capital investment. These trends are projected to drive the demand for gaskets and seals in North America as they are primarily used in the chemical industry in piping installations and manufacturing equipment and components.
The Middle East market is expected to register a notable CAGR of 3.8% from 2018 to 2025 owing to rising government investments in expanding indigenous manufacturing capabilities. In addition, the Middle East is one of the major contributors to the global aerospace MRO industry, thereby driving market growth.
Major players in the industry are following operating strategies such as extensive product portfolio, notable customizable product options, and direct marketing techniques. In addition, the key players are collaborating with the technology service providers to offer smart solutions and are trying to attain long-term supply and MRO contracts to maintain a stronghold in the market.
Emerging players in the industry are involved in the supply of limited product ranges at competitive prices for niche application segments. These players exhibit limited geographical presence, which enables them to offer quick service response and efficiently operate direct distribution channels, thereby enhancing their profit margins.
Base year for estimation
Actual estimates/Historical data
2014 - 2017
2019 - 2025
Revenue in USD Million and CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Middle East & Africa, Central & South America
U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, Saudi Arabia, United Arab Emirates (UAE)
Revenue forecast, competitive landscape, growth factors and trends
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of 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)
Molded Packing & Seals
Motor Vehicle Seals
Application Outlook (Revenue, USD Million, 2014 - 2025)
Electrical & Electronics
Marine & Rail
Industrial & Manufacturing
Oil & Gas
Chemicals & Petrochemicals
End-use Outlook (Revenue, USD Million, 2014 - 2025)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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