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Gaskets and Seals - Global Strategic Business Report

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    Report

  • 930 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 347937

Global Gaskets and Seals Market to Reach $72.9 Billion by 2030

The global market for Gaskets and Seals estimated at US$51.8 Billion in the year 2023, is projected to reach a revised size of US$72.9 Billion by 2030, growing at a CAGR of 4.3% over the analysis period 2023-2030.

Seals, one of the segments analyzed in the report, is projected to record 4.1% CAGR and reach US$44.8 Billion by the end of the analysis period. Growth in the Gaskets segment is estimated at 4.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $9.5 Billion, While China is Forecast to Grow at 5.7% CAGR

The Gaskets and Seals market in the U.S. is estimated at US$9.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$17.3 Billion by the year 2030 trailing a CAGR of 5.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.

Exciting New Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

What to Expect from the Global Economy in 2024

Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.

Select Competitors (Total 248 Featured)

  • Armacell LLC
  • Boyd Corporation
  • Advanced Seals and Gaskets Ltd.
  • Aero Rubber Co., Inc.
  • AK Rubber & Industrial Supplies Ltd.
  • American High Performance Seals, Inc.
  • Apple Rubber Products, Inc.
  • Butser Rubber Ltd.
  • California Gasket and Rubber Corporation
  • Aesseal PLC
  • Aquaseal Rubber Ltd.
  • AMG Group Ltd.
  • All Seals Inc.
  • Ace Seal & Rubber
  • Cannon Gasket, Inc.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Impact of COVID-19 Pandemic and Looming Global Recession; Living with COVID-19, the New Normal
  • Stagflation and Risk of Recession: New Challenges Emerge for the Global Market
  • World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2021, 2022, 2023 and 2024
  • Manufacturing Growth Skews Upside amid Rising Prices & Supply Chain Hiccups
  • Competitive Scenario
  • Gaskets and Seals - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Gaskets & Seals: Indispensable Solutions for Achieving Reduced Costs, Operational Certainty, and Improved Performance
  • Development of Precise Engineering Solutions and Cutting-edge Technologies in Industrial Applications: Foundation for Market Adoption
  • Global Market Prospects & Outlook
  • Analysis by Product Segment
  • Analysis by Application
  • Analysis by End-Use
  • Regional Analysis
  • Gaskets and Seals: Product Overview
  • Gaskets
  • Seals
  • Raw Materials
  • Recent Market Activity
  • Technology Innovations and Advancements in Recent Past
  • Select Global Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Growing Prominence of Fuel Efficient and Customized Sealing Solutions in the Automotive Industry Drives Healthy Market Growth
  • Major Gaskets and Seals Used in the Automotive Industry
  • Anticipated STable Vehicle Production in Future Signals Growth Opportunities for Gaskets and Seals
  • Global Passenger Car & Commercial Vehicle Population (In Million Units) for the Years 2020 and 2023E
  • Immense Opportunities in the Aftermarket
  • World Mechanical Replacement Products Market (2024E): Percentage Breakdown of Revenues for Auto OEMs & Independent Aftermarket Component Manufacturers (Alternative Products)
  • Automotive Aftermarket Affected by Extended Product Lifetime
  • Average Age of Light Vehicles (Cars & Light Trucks) in the US for the Years 2015, 2019 & 2023
  • Average Age of Passenger Cars and Light Commercial Vehicles in the European Union (EU-27) for the Years 2012, 2016, 2020 & 2024E
  • EU Passenger Cars Fleet Age (2019): Percentage Breakdown by Age
  • Thermoplastic Weather Seals Find Increasing Use in the Automotive Industry
  • Advanced Gaskets in Demand with Increased Aluminum Usage in Auto Engines
  • Current Dynamics of Automotive Industry Proving Beneficial for Gaskets and Seals Market
  • World Automobile Production in Million Units: 2008-2023E
  • Expanding Electrical & Electronics Manufacturing Lends Traction to Market Growth
  • Rising Demand for and Production of General Manufacturing & Industrial Machinery Augurs Well for the Market
  • Efficient Sealing Solutions: Integral in the Oil and Gas Industry for Delivering Optimum Performance
  • Global Liquid Fuel Cumulative Demand Growth (In 000 Barrels Per Day) by Type for the Years 2019 Through 2024E
  • Global Gross New Refining Capacity Additions & Expansions (In 000 Barrels Per Day) by Region for the Years 2018, 2021 & 2024E
  • Gasket Standardization Critical in Chemical Processing Facilities
  • Challenges to Standardization
  • Myriad Benefits of Efficient Sealing for Superior Aircraft Performance Drives Demand in the Aerospace Industry
  • Rise in Aircraft Fleet Drives Long-term Opportunities
  • Global Commercial Aircraft Fleet Projections: Breakdown of Fleet (in Units) by Region for 2019 and 2040
  • Aircraft MRO Services: Huge Opportunity to Drive Long-Term Growth
  • Global MRO Spending (In US$ Billion) by Segment for the Years 2024 & 2030
  • Food Safety Regulations Augment Demand for Seals in the Food Industry
  • Sealing Systems for the Pulp and Paper Industry
  • Marine/Rail Sectors Offer Market Growth Potential
  • Growing Share of Renewables Spurs Demand in Wind Turbines Production
  • Robust Outlook for Renewables to Echo Downstream Into the Cooling Towers Market: World Renewable Energy Production (In Billion Kilowatt-hours) by Energy Source for the Years 2017, 2020, 2030P and 2040P
  • Northbound Trajectory in the Construction Sector to Favor Market Growth
  • Recovery in Construction Sector to Boost Growth
  • Global Construction Spending (in US$ Trillion) for the Years 2020-2028
  • Stringent Environment and Safety Regulations Promote Market Expansion
  • Selection of Environmentally Sustainable Sealing Solutions: Need of the Hour
  • TAMPSS: Temperature, Application, Media, Pressure, Size and Speed
  • Growing Need for Constant Monitoring of Machine Components Drives Replacement Demand for Gaskets and Seals
  • Essential Role of Sealing Solutions in Attaining Energy Efficiency Sustains Demand for Mechanical Seals
  • Designing Sealed Systems
  • Polymer Seals Continue to Gain Wider Acceptance
  • Seal-less Technology: Can it Substitute Sealed Pumps?
  • Sealless Pump: An Answer to Frequent Breakdowns
  • Significant Performance Benefits Spurs Demand for Fiberglass Gaskets
  • Expanded Graphite Gaskets to Witness Healthy Demand
  • Low-Stress Spiral Wound Gaskets: The Issue with ‘Low-Stress’ Terminology
  • Demographic Trends to Underpin Future Revenue Growth: Urban Sprawl: Prominent Driver for Automotive Industry Leading to Demand for Gaskets and Seals
  • World Urban Population in Millions: 1950-2050
  • Percentage of Urban Population in Select Countries (2018 & 2050)
  • Middle Class Segment Emerges as Major Consumer Group
  • Breakdown of World Middle Class Population (in Million) by Region for the Years 2016, 2020 & 2030
  • Breakdown of World Middle Class Spending (in US$ Billion) by Region for the Years 2016, 2020 & 2030
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Gaskets and Seals Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Gaskets and Seals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 3: World Historic Review for Gaskets and Seals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 4: World 16-Year Perspective for Gaskets and Seals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Seals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 6: World Historic Review for Seals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 7: World 16-Year Perspective for Seals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Gaskets by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 9: World Historic Review for Gaskets by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 10: World 16-Year Perspective for Gaskets by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 12: World Historic Review for Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 13: World 16-Year Perspective for Automotive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Electrical & Electronics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 15: World Historic Review for Electrical & Electronics by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 16: World 16-Year Perspective for Electrical & Electronics by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Industrial & Manufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 18: World Historic Review for Industrial & Manufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 19: World 16-Year Perspective for Industrial & Manufacturing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Oil & Gas by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 21: World Historic Review for Oil & Gas by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 22: World 16-Year Perspective for Oil & Gas by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Chemicals & Petrochemicals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 24: World Historic Review for Chemicals & Petrochemicals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 25: World 16-Year Perspective for Chemicals & Petrochemicals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 26: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 27: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 28: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 29: World Recent Past, Current & Future Analysis for OEM by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 30: World Historic Review for OEM by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 31: World 16-Year Perspective for OEM by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 32: World Recent Past, Current & Future Analysis for Aftermarket by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 33: World Historic Review for Aftermarket by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 34: World 16-Year Perspective for Aftermarket by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Gaskets and Seals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • Growing Demand for High Quality and High Value Sealing Solutions Drive Steady Market Growth
  • Shale Gas Promises Bright Prospects for the Gaskets and Seals Market
  • Growing Opportunities for Mechanical Seals in the US
  • Replacement Demand & End-use Applications Augur Well for the Seals Market
  • Elastomeric Sealing Products to Garner Sizeable Growth
  • Smaller Engine Compartments Translate into More Components
  • Leasing Impacts Replacement Parts Market: Key Market Restraint
CANADA
  • Gaskets and Seals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Canada for 2022 (E)
JAPAN
  • Gaskets and Seals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Japanese Automotive Industry: A Major End-Use Market for Gaskets and Seals
  • A Strong Construction Equipment Market Fuels Demand for Gaskets and Seals
CHINA
  • Gaskets and Seals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • Presence of Huge Automotive Manufacturing Industry Makes China a Large Market
  • Aggressive Infrastructure Development and Industrialization Benefit Market Demand
EUROPE
  • Gaskets and Seals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Economic Recovery to Sustain Growth in Demand
  • Despite Huge Domestic Production, Europe Import Seals from Developing Countries
FRANCE
GERMANY
  • Matured Industrial/Manufacturing Sector Drives the Market
ITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Gaskets and Seals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Asian Countries Offer Lucrative Growth Opportunities
  • Infrastructure Spending in Developing Markets Bodes Well for the Gaskets and Seals Market
  • Indian Automotive Gasket Industry on Fast Track
  • Thailand: A Key Market
INDIASOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EAST
AFRICA
  • Gaskets and Seals Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Armacell LLC
  • Boyd Corporation
  • Advanced Seals and Gaskets Ltd.
  • Aero Rubber Co., Inc.
  • AK Rubber & Industrial Supplies Ltd.
  • American High Performance Seals, Inc.
  • Apple Rubber Products, Inc.
  • Butser Rubber Ltd.
  • California Gasket and Rubber Corporation
  • Aesseal PLC
  • Aquaseal Rubber Ltd.
  • AMG Group Ltd.
  • All Seals Inc.
  • Ace Seal & Rubber
  • Cannon Gasket, Inc.

Table Information