The Gasket And Seal Materials Market Forecast is expected to register a CAGR of 5.40% to reach USD 37,863 Million by the end of the forecast period. Seals are used to keep liquids from leaking between two moving parts like pumps, engine parts, and shafts. Seals are typically spherical and flat, whereas gaskets are frequently trimmed to fit the component they are to be installed on. Metals, industrial-grade rubber, or a mix of the two are used to make seals and gaskets. They usually have good anti-chemical qualities, anti-compressibility properties, high/low temperature and weather resistance, and superior heat, water, and abrasion resistance.

The significant need for seals and gaskets in the oil and gas industry is driving market expansion, as they ensure the safe, reliable, and efficient operation of a wide range of onshore and offshore equipment. Drilling tools and bits, blow-out preventers, drilling mud systems, casing and pipe connections, compressors and pumps, and control valves all employ these seals and gaskets. Another important reason driving the market’s growth is the increasing use of seals and gaskets in the automotive and aerospace industries.

Market Segmentation

Based on the materials, the global market is segmented into rubber (abrasion resistance, tear resistance, resilience, and elongation), fiber, metal, cork, PTFE, and others.

Based on the end-use industry, the market is segmented into automotive, oil and gas, food and beverage, electrical and electronics, chemicals, aerospace and defense, and others.

Based on the region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa.

Regional Classification

The Asia-Pacific market had the greatest market share during the historic forecast period. Accelerated industrialization and increased demand from a variety of end-use sectors, including oil and gas and petrochemicals, are contributing to the market’s rise. The reduction in vehicle production in the region, however, has had a detrimental impact on growth. The rapid industrialization and improving economic conditions in growth-oriented countries like India, South Korea, and Malaysia are responsible for the region’s high growth.

For example, the Make in India project, which aims to achieve Net Zero Imports, is intended to stimulate the manufacturing industry.

The chemical processing powerhouse, producing a significant portion of the world’s chemicals in China. The seals materials demand from this sector is expected to rise during the forecast period, owing to the rising global demand for various chemicals.

Industry News

The major key players in the global market are Trelleborg Group (Sweden), Freudenberg Sealing Technologies (Germany), Parker Hannifin Corporation (US), ERIKS NV (The Netherlands), ElringKlinger Kunststofftechnik GmbH (Germany), Saint-Gobain Performance Plastics (France), BRUSS Sealing Systems GmbH (Germany), Dimer Group (Czech Republic), John Crane (US), and Klinger Holding (Austria). Product launch and agreement are the two most important strategic activities for players who take an aggressive strategy. For example, John Crane introduced two new products, Type 8628VSC and Type 8648VRS, to broaden its pipeline seal for Refined and Light Hydrocarbon Products Pipelines. Type 8628VSC is a non-pusher elastomer with a standardized design for refined oil hydrocarbon services. Whereas, is a non-pusher elastomer mechanical seal that has been specifically designed for tough hydrocarbon oil pipeline applications.

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