Gasket and Seal Materials Market : Size, Share, Outlook, and Global Opportunity Analysis, 2022-2030 | Bayer AG (Germany), Octapharma (Switzerland), Shire (Republic of Ireland)
Gasket & Seal Material Market Scope
Market Research Future (MRFR) assessed the global gasket & seal materials market 2021 for the analysis period till 2025. As per the MRFR study, the global gasket and seal materials market is expected to expand at 5.40% CAGR in the forecast period. By 2025, the gasket and seal materials market is likely to be valued at USD 37,863.5 Mn.
Market Drivers and Restrains
The extensive utility of seals and gaskets due to their anti-vibration, hygiene, packaging, noise and sound reduction, and sealing benefits can prompt market growth. The rise in the application of gaskets across Petrochemical, Food Processing, Water and Gas, and Pharmaceutical is expected to drive the market. In the oil and gas industry, the equipment used in the extraction of oil requires higher pressure, lower friction, different temperatures compatibility, and high speed to operate efficiently that are offered by gasket and seals. In addition, the need to ensure safety and reliability in the operation of a wide range of offshore and onshore equipment can boost the demand for gasket & seal materials, which, in turn, can support the expansion of the seals and gaskets market in the foreseeable future.
Gasket & Seal Material Market Key Players
Saint-Gobain Performance Plastics (France), Dimer Group (Czech Republic), BRUSS Sealing Systems GmbH (Germany), John Crane (US), Klinger Holding (Austria), Freudenberg Sealing Technologies (Germany), Trelleborg Group (Sweden), Parker Hannifin Corporation (US), ElringKlinger Kunststofftechnik GmbH (Germany), and ERIKS NV (The Netherlands) are some reputed companies in the global gasket & seal materials market that are listed by MRFR.
Access Report Details
@ https://www.marketresearchfuture.com/reports/gasket-seal-materials-market-10105
Segment Analysis of Gasket & Seal Material Market
The segment evaluation of the global gasket & seal materials market are end-use industry and , material.
The material-based segments of the global gasket and seal materials market are fiber, rubber, cork, metal, and PTFE among others. The rubber segment can secure around 35% of the global market share by 2025. MRFR data reveals that the rubber segments of the gasket and seal materials market is expected to rise at 5.64% CAGR by 2025. The inclination towards rubber seals and gaskets is across major end-consumer industries, such as; oil & gas, automotive, aerospace, and chemicals due to their advantages, such as; oil & chemical resistance, shock resistance, weather resistance, adhesion, electrical properties, and water resistance can also add to the growth of the segment. The PTFE segment is likely to register 6.10% CAGR in the assessment period owing to their excellent chemical resistance, outstanding corrosion protection, dielectric properties, flame resistance, electrical insulation, weathering resistance, and high thermal stability.
The end-use industry-based segments of the gasket and seal material market are food & beverage, automotive, electrical & electronics, oil & gas, chemicals, and aerospace and defense among others. The segment of automobile of the market study is anticipated to rise at 6.36% CAGR in the review period. Seals and gaskets are extensively used in shock absorbers, electronic control units (ECUs), battery, braking systems, safety control systems, exhaust gas recirculation systems, ride control systems, air conditioning, and fuel injectors in the automobile industry that can benefit the market in the years to come.
Regional Assessment of Gasket & Seal Material Market
The expansion of the gasket and seal materials market in the Asia Pacific region is expected to garner high revenue on the conclusion of the analysis period. The introduction of new gasket technologies and the availability of effective gaskets and seal materials on a huge scale can prompt the growth of APAC gasket and seal market. In addition, the easy availability of gaskets and seal in retail shops and online platform can contribute to the rise of APAC market. In Europe, the utility of gaskets in preventing leakage between two adjoining mechanical plates and objects can favor the market growth in the assessment period. Gaskets ensure the minimization of irregularities on surfaces that is expected to serve tremendous utility in a range of industries, which, in turn, can improve the impetus of EU gaskets and seal materials market. In the North America region, the market for gaskets and seal material is expected to be spearheaded by the US. The region is likely to accumulate decent revenue by 2025. The expansion of several industries and urban migration are contributing to the growing demand for luxurious car that can boost the demand for seals and gasket to favor expansion of the North America market.
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2021-11-29?tesla=y
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