The global gaskets and seals market size
is expected to reach USD 89.66 billion by 2025, at a CAGR of 5.2% from 2018 to
2025, according to a new report by Grand View Research, Inc. Increasing demand
for LCD displays, backed by the high demand for electronics device is expected
to drive the growth.
The use of gaskets and seals is projected
to witness significant rise in demand from automobile industry as they mitigate
sound and vibration in automobile engine and body parts. Moreover rising
production of automobile in developing economies is anticipated drive the
market growth due to extensive application scope including sunroofs, panels,
interior door panels, and fuse boxes.
The threat of substitution is expected be
relatively low, due to unavailability of commercially viable alternatives. However,
presence of a number of internal substitutes, such semi-metallic gaskets is
expected to result in substitution of their metal counterparts across
application segments.
Technological advancements coupled with
improvements in existing production and curing techniques, such as moisture
cure and see cure is expected to result in the manufacture of advanced
products. Growing application of advanced products across the application
industries is expected to drive growth of the gaskets and seals market over the
forecast period.
To request a sample copy
or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/gaskets-seals-market
https://www.grandviewresearch.com/industry-analysis/gaskets-seals-market
Further key findings from the report suggest:
· Gaskets segment is expected to register the
highest CAGR of 5.4% from 2018 to 2025, owing to the ability of the product to
prevent ingress of toxic and corrosive chemicals in chemicals and oil and gas
industries
· Seals accounted for a market share of USD
35.5 billion in terms of revenue in 2017 due to high product demand from
industrial manufacturing on account of superior leak proofing offered by the
product
· China contributes the largest share to the
Asia Pacific gasket market, accounting over 54.0% of market share in 2017.owing
to the presence of robust manufacturing base primarily for the automotive and
electronics industries
· The gaskets and seals market is
characterized by the presence of a large number of companies with extensive
direct and third party distribution channels to boost the sales
· Key companies are involved in the
production of a large volume of the products to increase the annual sales in
addition to laying high emphasis on the product manufacturing with increased
functionality
Grand View Research has segmented the
global gaskets and seals market on the basis of product, application, end use,
and region:
Gaskets and Seals Product Outlook (Revenue,
USD Million, 2014 - 2025)
·
Gaskets
o
Metallic
o
Semi-metallic
o
Non-metallic
·
Seals
o
Shaft
o
Molded Packing & Seals
o
Motor Vehicle Body
o
Others
Gaskets and Seals Application Outlook
(Revenue, USD Million, 2014 - 2025)
·
Automotive
·
Electrical & Electronics
·
Marine & Rail
·
Industrial & Manufacturing
·
Aerospace
·
Oil & gas
·
Chemicals & Petrochemicals
·
Others
Gaskets and Seals End-use Outlook (Revenue,
USD Million, 2014 - 2025)
·
OEM
·
Aftermarket
Gasket and Seals Regional Outlook (Revenue;
USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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