By 2026, the market for gaskets and seals is expected to be worth USD 102 billion, growing at a 5.4% CAGR over the course of the assessment period. The growing need to enhance the performance of various engineering products is anticipated to augment the demand for gaskets and seals. Gaskets and seals are mainly designed to support manufacturers and ensure performance efficiency. These also help in complying with strict standards and specifications.
The demand for static seals is anticipated to surge in the upcoming years owing to the urgent need to control emissions and reduce the risk of unexpected downtime. The increasing focus of major manufacturers on the development of dynamic seals with composite material designs to enhance the product’s functionality is another factor that is projected to boost the high-performance gaskets and seals market in future years.
APEJ is projected to dominate the global gaskets and seals market by exhibiting a CAGR of 6.8%, procuring a market value of USD 43 Bn by the end of 2026. Factors, such as the rising production of automobiles and steady economic growth in emerging economies, such as India and China are estimated to augur well for the high-performance gaskets and seals market.
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The rising overall vehicles production worldwide is set to propel the demand for automotive seals in the future years. As per the International Organization of Motor Vehicle Manufacturers, in 2017, nearly 24806687 vehicles were produced in China, 5645581 in Germany, 203700 in Argentina, and 1671166 in the U.K. These numbers are projected to surge at a fast pace in the assessment period, thereby boosting the demand for automotive seals globally.
The report has also compiled key factors impacting the growth of global gaskets & seals market during the forecast period, which follow:
- Rising instances of leakage in industrial units that cause considerable loss in terms of property damage & health risks can be averted by use of gaskets & seals
- The demand for gaskets & seals is also expected to rise on the account of their compliance with several strict regulations, that prompt minimisation of leakage & fugitive emissions, observed across the globe
- Advent of 3D printing is likely to lower costs of manufacturing gaskets & seals, and will also facilitate the urgency to deliver customised products
- Key challenges inhibiting the market’s growth during the forecast period are complex manufacturing processes, altering designs and limited material applicability for production of gaskets & seals.
According to a comparative forecast of global sales of gaskets and seals over the forecast period, global demand for seals will remain slightly higher than that for gaskets. Solid and spiral wound gaskets will be the market’s top-selling products by the end of 2026, accounting for more than US$ 25 billion in global revenue. Dynamic seals, on the other hand, will account for the vast majority of global seal sales. Static seals are expected to account for slightly more than 42 percent of global seals revenue by 2026.
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Gaskets and Seals Market Survey by Category
By Product Type:
- Jacketed Gaskets
- Solid Gaskets
- Spiral Wound Gaskets
- Kammprofile Gaskets
- Static Seals
- Dynamic Seals
By Sales Channel:
By Material Type:
By End Use Industry:
- Electronics & Electrical
- Marine & Rail
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East & Africa