Gaskets And Seals Market Size

Global Gaskets and Seals Market Overview:

Gaskets and Seals Market Size was valued at USD 58.2 Billion in 2022. The gaskets and seals market industry is projected to grow from USD 60.99 Billion in 2023 to USD 88.751 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.80% during the forecast period (2024 - 2032). The major market drivers driving the growth of the Gaskets seal market include the expanding demand from the chemical and petrochemical industries, as well as the growing use of gaskets and seals in the oil and gas industry.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Gaskets and Seals Market Trends

Enhancing Engineering Equipment Performance is Driving the Market Growth

The market is expanding primarily due to the increasing use of gaskets and seals in enhancing the functionality of engineering equipment. A wide range of designed equipment is used on a regular basis in industries like oil and gas, chemical, mining, food processing, machine tool, and agricultural equipment manufacture. The performance of engineering equipment deteriorates when fluids, oil, and lubricants leak. Therefore, the existence of gaskets and seals aids in the appropriate operation of technical parts. Periodic replacement of gaskets and seals increases component equipment output and efficiency. As a result, vendors can concentrate on aftermarket sales due to the short lifespan of seals. For instance, 30% of John Crane's aftermarket sales were from the oil and gas and petrochemical industries. The market for gaskets and seals is anticipated to be driven by the increasing need for like-for-like replacement in aftermarket sales. As a result, during the projected period, these variables will strengthen the global market.

A new trend in the market is an increase in aftermarket sales. Depending on their use, gasket and seal materials can have a limited lifespan. In order to preserve process efficiency by preventing leaks and to comply with municipal or federal emission requirements, they are also changed on a regular basis. The global market is growing because of the replacement or upgrading of these materials. Additionally, aftermarket sales account for a sizable portion of the global industry. Cartridge seal users will continue to use cartridge seals because most mechanical seal replacements are like-for-like. The vendors are also concentrating more on aftermarket sales because the majority of seals have a limited lifespan and require frequent replacement. Throughout the projected period, it is anticipated that this development in aftermarket sales will propel the worldwide market.

Currently, a variety of gaskets and seals for a wide range of end-use applications are being made with innovative materials. Integrated gaskets and seals are becoming more and more in demand because they can provide excellent mechanical, physiochemical, and electrical qualities. The aforementioned aspect is anticipated to drive an increase in demand for gaskets and seals in the upcoming years. In an effort to meet the increasing demand for both static and dynamic seals, a number of manufacturers are expanding their global manufacturing footprints and introducing a wide range of innovative solutions. Furthermore, securing long-term agreements with direct end users might offer them chances for consistent income flow and profit-making in the international market. Thus, driving the Gaskets seal market revenue.

Gaskets and Seals Market Segment Insights:

Gaskets and Seals Application Insights

The Gaskets and Seals Market segmentation, based on application includes Aerospace, Automotive, Electronics, Oil and Gas, Power Generation, and Other Applications (Industrial). The automotive segment dominated the market because powertrains and engine blocks are used in the production of automobiles on multiple occasions. It is projected that the category will rise due to the broad range of applications for seals in automotive interiors and consumers' rising fondness for electronics in vehicles.

Gaskets and Seals Product Insights

The Gaskets and Seals Market segmentation, based on product, includes Gaskets (Metallic Gaskets, Rubber Gaskets, Cork Gaskets, Non-asbestos Gaskets, Spiral Wound Gaskets, Others Gaskets (Semi-Metallic Gasket)) and Seals (Shaft Seals, Molded Seals, Motor Vehicle Body Seals, Other Seals (Fork Seal and Piston Seal). The seals category generated the most income. Their uses span a wide range of products, including consumer electronics, vehicles, ships, rockets, and industrial plant machinery. The need for mechanical seals is therefore expected to increase as the manufacturing of automobiles and electronics rises on the global market.

Figure 1: Gaskets and Seals Market by Product, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Gaskets and Seals Material Insights

The Gaskets and Seals Market segmentation, based on material, includes Fiber, Graphite, PTFE, Rubber, and Other Materials (Metal, Cork, Polymers and Felt). The rubber category generated the most income. Rubber gaskets and seals are made of a variety of elastomers, such as nitrile, EPDM, neoprene, and natural rubber. There is a growing need for rubber gaskets and seals in applications such as pipe gaskets, manways, and heat exchangers.

Gaskets and Seals Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American gaskets and seals market area will dominate this market. The stringent steps implemented to guarantee contamination-free gas and liquid processing are responsible for the region's growth. Furthermore, the demand for customized gaskets and seals that are tailored to the unique requirements of each application is being driven by the broad range of industrial uses. In addition, the growing automotive, manufacturing, electrical, and electronics sectors are predicted to drive up demand for these goods. Based on the previously mentioned reasons, it is anticipated that the market would rise at an upward rate throughout the forecast period.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Gaskets And Seals Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe gaskets and seals market accounts for the second-largest market share. With less energy and water used in the construction of cars, as well as less waste and CO2 produced, the market is the leading manufacturer of clean automobiles. The region's strict environmental laws encourage the usage of gaskets and seals to stop leaks and stop grease from leaking out of the bearings. Further, the German gaskets and seals market held the largest market share, and the UK gaskets and seals market was the fastest growing market in the European region

The Asia-Pacific Gaskets and Seals Market is expected to grow at the fastest CAGR from 2023 to 2032. The region's adoption of gaskets and seals has been pushed by rising industrial automation and the increasing penetration of cars in developing nations. Seals and gaskets provide longer lifespans, more efficiency, and lower maintenance costs. Moreover, China’s gaskets and seals market held the largest market share, and the Indian gaskets and seals market was the fastest growing market in the Asia-Pacific region.

Gaskets and Seals Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Gaskets seal market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, gaskets and seals industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global gaskets and seals industry to benefit clients and increase the market sector. In recent years, the gaskets and seals industry has offered some of the most significant advantages to medicine. Major players in the Gaskets seal market are attempting to increase market demand by investing in research and development operations includes AMG Sealing Limited, BRUSS Sealing Systems GmbH, Freudenberg Sealing Technologies, Cooper Standard, ElringKlinger AG, Flowserve Corporation, Garlock, an Enpro Industries, Inc., Dätwyler Holding Inc., John Crane, KLINGER Holding GmbH, Phelps, Dana Limited, Dechengwang, IGP Engineers Private Limited, Saunders, SKF, Smiths Group plc, Trelleborg AB, and Tenneco Inc.

Freudenberg Sealing Technologies has a long history of innovation and leadership in the worldwide market for challenging and cutting-edge applications across a wide range of sectors, particularly electro-mobility. Due to its distinctive materials and technological know-how, the firm is a dependable supplier for challenging goods and applications, as well as a development and maintenance partner for clients in the general and automotive sectors. Freudenberger Sealing Technologies created a novel conductive seal in 2019 to stop bearing damage and to create an electrical connection between the housing and the cooks.

The automotive manufacturer ElringKlinger AG (ElringKlinger) produces and distributes products related to combustion technology and electromobility. A few of the products offered by the company are battery, body and interior, electric drive unit system, chassis and brake system, sealing system, underbody parts, exhaust gas system, and valve seals. In addition, ElringKlinger provides engine parts such dry sump oil tanks, oil sumps, cylinder head covers, and oil separation systems. In December 2020, metal Sealing Systems & Drivetrain Components, a new business unit created by ElringKlinger AG, combines the knowledge of Specialty Gaskets and Cylinder-head Gaskets, two previous businesses. This latest advancement is consistent with the company's ambitious objectives to reduce CO2 emissions in the transportation industry by introducing fully electric and hybrid vehicles.

Key Companies in the gaskets and seals market include

• AMG Sealing Limited


• BRUSS Sealing Systems GmbH


• Freudenberg Sealing Technologies


• Cooper Standard


• ElringKlinger AG


• Flowserve Corporation


• Garlock


• an Enpro Industries, Inc.


• Dätwyler Holding Inc.


• John Crane, KLINGER Holding GmbH


• Phelps, Dana Limited


• Dechengwang


• IGP Engineers Private Limited


• Saunders


• SKF


• Smiths Group plc


• Trelleborg AB


• Tenneco Inc.

Gaskets and Seals Industry Developments

October 2023: The H2Pro range of sealing materials, designed especially for use in a range of hydrogen applications, has been introduced by Trelleborg Sealing Solutions.

August 2023: John Crane announced the introduction of the Type SB2/SB2A USP seal, which combines their patented Upstream Pumping (USP) technology with the Type SB2/SB2A heavy-duty dual cartridge seal.

October 2022: From its manufacturing hub in Ras Al Khaimah, the engineering solutions firm Erith Group began producing industrial seals and gaskets for international markets. The company specializes in high-end engineered sealing systems.

Gaskets and Seals Market Segmentation:

Gaskets and Seals Application Outlook (USD Billion, 2018-2032)

• Aerospace 


• Automotive


• Electronics 


• Oil and Gas 


• Power Generation


• Other Applications (Industrial)

Gaskets and Seals Product Outlook (USD Billion, 2018-2032)

• Gaskets




• Metallic Gaskets


• Rubber Gaskets


• Cork Gaskets


• Non-asbestos Gaskets


• Spiral Wound Gaskets


• Others Gaskets (Semi-Metallic Gasket)




• Seals




• Shaft Seals


• Molded Seals


• Motor Vehicle Body Seals


• Other Seals (Fork Seal and Piston Seal)

Gaskets and Seals Material Outlook (USD Billion, 2018-2032)

• Fiber


• Graphite


• PTFE


• Rubber


• Other Materials (Metal, Cork, Polymers and Felt)

Gaskets and Seals Regional Outlook (USD Billion, 2018-2032)

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America