Global Market for Gaskets and Seals is Projected to Reach US$45.8 Billion by 2020

Stringent Environmental Regulations Drive the Global Gaskets and Seals Market, According to New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Gaskets and Seals market. Global market for Gaskets and Seals is projected to reach US$45.8 billion by 2020, driven by technology advancements, and stringent safety policies aimed at reducing hazardous leaks in process industries.

Gaskets and seals represent important components in heavy machinery that help seal mating surfaces to prevent leakages. As an indispensable element in the assembly of a broad range of machinery used in diverse industries like manufacturing, energy/power generation, automotive and construction, gaskets and seals is forecast to witness steady growth. Growth opportunities in the market are directly dependent on the health of the industrial sector and level of manufacturing activity, which in turn are primarily dictated by economic growth, level of consumer spending on goods and services, and credit availability, among others. Stable demand from key end-use industries represents a major growth driver for the gaskets and seals market. Stringent norms revolving around safe machinery operation and personnel safety are benefiting periodic replacement of gasket and sales thus encouraging sales.  Further benefiting demand is the increasing focus on maximizing the efficiency of plant assets and improving productivity.

Advances in technology are resulting in incremental improvements in mechanical strength of gaskets and sealing capabilities of seals, thus opening novel application possibilities in newer fields. Demand for high performance and functional products will continue to push manufacturers to invest in R&D to advance product capabilities. Increasing oil exploration and extraction activity, including shale gas, is forecast to translate into robust demand for gaskets and seals used in exploration, extraction and transport machinery.

As stated by the new market research report on Gaskets and Seals, Asia-Pacific represents the largest and the fastest growing market worldwide with a projected CAGR of 7.0% over the analysis period. Growing GDP, rapid industrialization and the subsequent need to adhere to safety standards, increasing construction activity, and ballooning production and industrial bases remain key growth driving forces in the region. The automotive sector represents the largest end-use application sector.

Major players covered in the report include Blue Diamond Technologies Ltd., BRUSS, Dana Holding Corporation, Datwyler Group, ElringKlinger AG, Federal-Mogul Corporation, Flowserve Corp., Garlock Sealing Technologies, Greene, Tweed & Co., Henniges Automotive, Hutchinson SA, Lamons, LoneStar Group, Magnum Automotive Group LLC, Parker Hannifin Corp., Prompt Manufacturing, Saint Gobain Performance Plastics Corporation, SKF Group, Smiths Group Plc., Stockwell Elastomerics Inc., TEADIT® Group, The Flexitallic Group, The Freudenberg Group, Trelleborg Sealing Solutions, W.L. Gore & Associates Inc., and Zone Enterprises LLC, among others.

The research report titled “Gaskets and Seals: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies. The report provides market estimates and projections for Gaskets and Seals in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), The Middle East/Africa and Latin America. Key product segments analyzed in the report include Gaskets (Non-Metallic and Metallic) and Seals (Mechanical & Rotary, Molded Packings, and Others). Major end-use industries analyzed in the report include Automotive, Process/Refinery/Other General Machinery, Pulp & Paper, Marine/Rail and Others.

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