Gaskets And Seals Market Will Reach USD 74.2 billion by 2025 – Growing Popularity and Emerging Trends

FEB 28, 2020: The global Gaskets and Seals market size is expected to reach USD 74.2 billion by 2025, registering a CAGR of 3.7% from 2018 to 2025, according to a new report by Grand View Research, Inc. Increasing demand for these products in fluid transfer applications in semi-conductor manufacturing is expected to drive the overall market growth.
Gaskets and seals are critical components in complex mechanical systems in the manufacturing sector to reduce environmental impact and prevent personal injuries due to fugitive emissions. Thus, the rising environmental concerns owing to industrial emissions, coupled with implications of stringent emission standards, is expected to positively influence the market growth.
Key industry participants are developing advanced engineered sealing solutions with a corrugated metal core combined with compressible sealing element of various materials. These products are hence suitable for use in harsh operating conditions such as corrosive chemicals, extreme temperature, and thermal cycling. Moreover, advanced sealing systems and components enhance the production efficiency and sustainability of plants, there enabling greater resource efficiency.
The industry exhibits a minimal threat of substitution due to unavailability of commercially viable alternatives for sealing solutions. However, rapidly rising penetration of Form-In-Place (FIP) gaskets in automotive and electronic manufacturing is expected to result in the internal substitution of their metal counterparts across applications.
Key industry participants are developing superior material technology, thereby enhancing their sealing product offering. In addition, they are employing competitive pricing strategies and are offering complete field support and engineering assistance to gain a competitive edge and maintain their stronghold in the market.
Further key findings from the report suggest:
• The gaskets segment is expected to register the highest CAGR of 4.0% from 2018 to 2025 owing to the rising product demand in the chemical processing industry to address environment concerns regarding emissions and to enhance industrial efficiency
• Seals amounted to a revenue of USD 34.2 billion in 2018 due to high product demand in microelectronics and semi-conductor processing applications in the growing electrical and electronics industry
• The demand for gaskets and seals in the automotive industry is expected to value USD 26.6 billion by 2025 on account of their extensive use in the production and assembly of powertrain, chassis, exhaust manifolds, and other components
• The market in China makes the largest revenue contribution to the Asia Pacific gasket market, accounting for more than 55.0% of the share in 2018. This is mainly attributed to the extensive use of the product for automotive and electronics manufacturing
• The gaskets and seals market is characterized by the presence of numerous players exhibiting a vast logistics network featuring a notable number of distributors and service centers.
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Outlook
2.4. Market Snapshot
Chapter 3. Industry Outlook
3.1. Market Segmentation
3.2. Value Chain Analysis
3.3. Raw Material Analysis
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Driver
3.6.1.1. Growth in the usage of form-in-place liquid gaskets
3.6.1.2. Growth in the demand from the automotive industry
3.6.2. Restraint
3.6.2.1. Decline in the Oil & Gas industry
3.7. Business Environmental Tools Analysis: Gaskets and Seals Market
3.7.1. Porter’s Five Forces Analysis
3.7.1.1. Bargaining Power of Suppliers
3.7.1.2. Bargaining Power of Buyers
3.7.1.3. Threat of Substitution
3.7.1.4. Threat of New Entrants
3.7.1.5. Competitive Rivalry
3.7.2. PESTLE Analysis
3.7.2.1. Political Landscape
3.7.2.2. Economic Landscape
Continued…………

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