Gaskets and Seals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Gaskets and Seals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global gaskets and seals market size reached US$ 62.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 80.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.99% during 2023-2028.

Gaskets and seals are mechanical fixtures that are used to prevent leakage of fluid between two components and admission of debris in engines. Gaskets act as a static seal between two non-mobile flat flanges. They are manufactured using materials that can handle high rates of compression such as rubber, nitrite, graphite and neoprene. On the other hand, seals are placed to prevent leakages from two moving parts such as shafts, pumps and engine components. They are usually flat and round and manufactured with an inner rubber surface and an outer metal ring. They are primarily used to seal the hydraulic line to prevent leakage from the shaft end. Both gaskets and seals offer high flexibility, reliability, strength and resistance to extreme heat.

The thriving automotive industry, along with the increasing product utilization in the plumbing and construction sector, represent the key factors driving the market growth. Owing to rising industrialization and rapid urbanization across the globe, there is a significant increase in the number of manufacturing plants and factories that use gaskets and seals. The automotive industry extensively utilizes the products to avoid the leakage or spillage of fluids and gases. Furthermore, gaskets are used in engines to maintain pressure and prevent contaminated particles from permeating, whereas seals are used as shock absorbers. They can also sustain extreme pressures, compressive loads and temperature variations due to which they are used in various sealing machines and equipment in the manufacturing sector. Moreover, the growth of the e-commerce platform that provides direct and third-party operated distribution channels to the manufacturers is also contributing to the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global gaskets and seals market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product, material, application and end-use.

Breakup by Product:

Gaskets
Metallic Gasket
Rubber Gasket
Cork Gasket
Non-Asbestos Gasket
Spiral Wound Gasket
Others
Seals
Shaft Seals
Molded Seals
Motor Vehicle Body Seals
Others

Breakup by Material:

Fiber
Graphite
PTFE
Rubber
Silicones
Others

Breakup by Application:

Automotive
Industrial Machinery
Electrical and Electronics
Marine & Rail
Aerospace
Oil & Gas
Chemicals & Petrochemicals
Others

Breakup by End-Use:

OEM
Aftermarket

Breakup by Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being AB SKF, Dana Incorporated, ElringKlinger, Flowserve, Trelleborg, Freudenberg Sealing Technologies, Federal-Mogul, Smiths Group, BRUSS Sealing Systems, Cooper Standard Holding, Garlock Sealing Technologies, Daetwyler Holding, etc.

Key Questions Answered in This Report

1. What was the size of the global gaskets and seals market in 2022?
2. What is the expected growth rate of the global gaskets and seals market during 2023-2028?
3. What are the key factors driving the global gaskets and seals market?
4. What has been the impact of COVID-19 on the global gaskets and seals market?
5. What is the breakup of the global gaskets and seals market based on the product?
6. What is the breakup of the global gaskets and seals market based on the material?
7. What is the breakup of the global gaskets and seals market based on application?
8. What is the breakup of the global gaskets and seals market based on the end-use?
9. What are the key regions in the global gaskets and seals market?
10. Who are the key players/companies in the global gaskets and seals market?