According to the latest research report, the global gaskets and seals market reached a value of US$ 71 Billion in 2019. Looking forward, the market to exhibit moderate growth during the next five years.
Gasket and seals are mechanical equipment that are used to prevent the accumulation of debris in engines and leakage of fluid and gas between components. Gaskets are manufactured with rubber, silicone, metal, neoprene, fiberglass and plastic polymer and act as a static seal between two flanges to withstand high compressive loads. Seals are molded or machined components that are placed between engine parts, pumps and shafts to seal the hydraulic line and prevent leakage from the shaft end.
Some of the major players operating in the industry include:
1. AB SKF (OTCMKTS: SKFRY)
2. Dana Incorporated (NYSE: DAN)
3. ElringKlinger
4. Flowserve
5. Trelleborg
6. Freudenberg Sealing Technologies
7. Federal-Mogul
8. Smiths Group
9. BRUSS Sealing Systems
10 Cooper Standard Holding
11. Garlock Sealing Technologies
12. Daetwyler Holding
The global market is driven by rapid industrialization and increasing product utilization in the construction and plumbing sectors as they offer high flexibility, strength and resistance against extreme pressure and heat. Furthermore, the thriving automotive industry is also providing a boost to the market growth. Gaskets and seals are extensively used to maintain engine pressure, prevent dirt contamination and as shock absorbers in automobiles. Other factors, including technological innovations and growing demand for advanced sealing variants across several industries, are projected to drive the market further.
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Key Market Segmentation:
Market Breakup by Product
Gaskets Market Breakup by Type
Metallic Gasket
Rubber Gasket
Cork Gasket
Non-Asbestos Gasket
Spiral Wound Gasket
Others
Seals Market Breakup by Type
Shaft Seals
Molded Seals
Motor Vehicle Body Seals
Others
Market Breakup by Material
1. Fiber
2. Graphite
3. PTFE
4. Rubber
5. Silicones
6. Others
Market Breakup by Application
1. Automotive
2. Industrial Machinery
3. Electrical and Electronics
4. Marine & Rail
5. Aerospace
6. Oil & Gas
7. Chemicals & Petrochemicals
8. Others
Market Breakup by End-Use
1. OEM
2. Aftermarket
Market Breakup by Region
1. Asia Pacific
2. Europe
3. North America
4. Middle East and Africa
5. Latin America
Key highlights of the report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Competitive Structure
Profiles of Key Players
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