Stable Demand from Key End-Use Industries to Sustain the Gaskets and Seals Market
The global Gaskets and Seals market is projected to exceed US$83 billion by 2024 , driven by sustained demand from all major end-use industries such as Automotive, Electronics, and Construction in both emerging and developed markets. Gaskets and seals are used for manufacturing a range of general and heavy machinery/equipment used in industries like manufacturing; energy/power generation, automotive; construction; and heavy industrial sectors. As a key enabler of industrial revolution and indispensable element for assembly of a vast gamut of machinery, gaskets and seals therefore wield a major impact on productivity in the manufacturing industry . Fortunes of gaskets and seals market is therefore directly dependent on the health of industrial/manufacturing sector and level of production/manufacturing activity, which in turn are primarily dictated by overall health of economy, level of consumer spending on a range of goods, credit availability etc. Demand responses to economic u...