Global Gaskets and Seals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Gaskets and Seals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Gaskets are used to seal two components or flanges that have a flat surface. Seals are used to describe parts that are used between engine parts, pumps and shafts that rotate. Gaskets are used as static seals.

Seals are generally moulded or machined product, often flat and round such as an O-ring. Gaskets are cut into different shapes so that they fit the design and bolt spacing of a component.

Market Overview:

The latest research study on the global Gaskets and Seals market finds that the global Gaskets and Seals market reached a value of USD 26662.61 million in 2022. It’s expected that the market will achieve USD 36430.27 million by 2028, exhibiting a CAGR of 5.34% during the forecast period.

Market Drivers of Gasket & Seal

North America, Europe, China, India, South America, Korea

Rise in vehicle production propels the growth of the market. In addition, increase in tough emission standards will drive the market during forecasting period. Asia Pacific is expected to grasp major revenue shares in gasket & seals market. This growth is attributed to rising demand from the automotive industry in emerging economies like India and China. By end user, the electrical and electronics segment has the largest market share and is expected to remain the same for the next few years due to increasing projects in the field of oil & gas in emerging countries.

Opportunities

More opportunity in improvement of product.

Because of the advantages of gasket & seal, it has been used in different industries, also, with the development of technology, more new materials such as graphite, there will be more improvement of the innovation, there might be more high-performance products in the future.

Emerging countries

For example, China, India, South America, Middle East and Africa, have large amounts of demand potential in the world, with the progress of economy, the advanced development of technology, the development of local companies, the market of gasket & seal has great market potential.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

Freudenberg Sealing Technologies Gmbh & Co. Kg is one of the major players operating in the Gaskets and Seals market, holding a share of 16.72% in 2022.

Freudenberg Sealing Technologies Gmbh & Co. Kg

Freudenberg Sealing Technologies GmbH & Co. KG develops, manufactures, and supplies elastomeric materials, and precision-molded seals and products for customers in Germany and internationally.

AB SKF

AB SKF develops, produces, and markets products, solutions, and services in the rolling bearing and seal business. The Company's product line includes ball and roller bearings, specialty bearings, sealing systems, linear motion products, tools for mounting and dismounting bearings, and measuring and monitoring instruments

Segmentation Overview:

By type, Gasket segment accounted for the largest share of market in 2021.

Gasket

Gaskets are used to seal two components or flanges that have a flat surface. Seals are used to describe parts that are used between engine parts, pumps and shafts that rotate. Gaskets are used as static seals.

Seal

Seals are generally molded or machined product, often flat and round such as an O-ring. Gaskets are cut into different shapes so that they fit the design and bolt spacing of a component.

Application Overview:

By application, the Automotive segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Gaskets and Seals market covered in Chapter 3:

Smiths Group PLC
Flowserve Corporation
DuPont
NOK Corporation
Datwyler Holding Inc.
Federal-Mogul Holdings Corporation
Dana Holding Corporation
Freudenberg Sealing Technologies Gmbh & Co. Kg
Cooper standard holding Inc
Elringklinger AG
Trelleborg AB
AB SKF

In Chapter 4 and Chapter 14.2, on the basis of types, the Gaskets and Seals market from 2018 to 2029 is primarily split into:

Rubber Gasket
Fiber
Silicone Gasket
Graphite
PTFE
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Gaskets and Seals market from 2018 to 2029 covers:

Oil and Gas
Automotive
Marine and Rail
Electrical and Electronics
Industrial and Manufacturing
Power and Energy
Chemical and Petrochemicals
Other End Users

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)