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2019
North America And Asia-pacific Gasket And Seal Market

North America and Asia-Pacific Gasket and Seal Market

by Type (Gasket and Seal), and End-Use Industry (Automotive & Transport, Industrial & Manufacturing, Oil & gas, Power & Energy, Chemicals, and Others): Opportunity Analysis and Industry Forecast, 2018-2025

Report Code: A04890
Pages: 116
Apr 2019 | 9154 Views
Author(s) : Shruti H , Onkar S
Tables: 106
Charts: 37
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North America and Asia-Pacific Gasket and Seal Market Outlook - 2025

The North America and Asia-Pacific gasket and seal market was valued at $343,697.5 thousand in 2017, and is expected to reach $528,083.3 thousand by 2025, registering a CAGR of 5.5% from 2018 to 2025. A gasket is a material or blend of materials clamped between two components with the aim of preventing fluid flow. Whereas, seals are devices utilized to limit or stop leakage of fluids. Seals are mostly used for applications where components do not move relatively and also for applications where there is relative movement between the components. Seals are classified as static and dynamic seals.

North America and Asia-Pacific Gasket and Seal Market outlook

Properties of gasket and seal such as chemical and thermal stability, high strength, thermal and electrical insulation, make gasket and seal an ideal choice for applications in chemical industries, automotive, and others. In addition, increase in demand for gasket and seal from the automotive industry is also fueling the growth of the North America and Asia-Pacific gasket and seal market. However, fluctuating crude oil prices is hampering the market growth. The volatility in crude oil prices leads to uncertainty in the price of the raw materials such as rubber, silicone, and graphite. On the contrary, increase in number of refineries in Asia-Pacific is anticipated to offer lucrative growth opportunities for the gasket and seal market during the forecast period. Furthermore, rise in stringent leakage regulations by the Environmental Protection Agency (EPA) to prevent damage to the environment boosts the demand for gasket and seals.

The North America and Asia-Pacific gasket and seal market is segmented based on type, end-use industry, and region. Based on type, the market is divided into gasket and seal. Gasket is further segmented into silicone gaskets, rubber gaskets, non-asbestos gasket, spiral-wound gaskets, serrated gaskets, corrugated gaskets, metal reinforced gaskets, jacketed gaskets, and metallic ring joint gaskets. Whereas, seal is further segmented into O-ring seals, lip seals, rotary seals, mechanical seals, others. Based on the end-use industry, the market is classified into automotive & transport, industrial & manufacturing, oil & gas, power & energy, chemicals, and others. Based on region, the market is analyzed across North America and Asia-Pacific. North America and Asia-Pacific Gasket and Seal Market Share is dominant in the global market, due to presence of key players in the both the regions as well as increasing demand from numerous end-use industries.

Asia-Pacific is expected to account for the highest market share in the gasket and seal market. In Asia-Pacific, the factors that contribute to the growth of the market are rapid industrialization, and increased demand from numerous end-use industries such as automotive, oil and gas refineries, and petrochemical.

The North America and Asia-Pacific gasket and seal market analysis covers in depth information of major industry participants. Some of the major players in the market include Arezda, EagleBurgmann Germany GmbH & Company KG, Flexitallic, Flowserve Corporation, Garlock, James Walker Group Ltd., John Crane, KLINGER Group, NICHIAS Corporation, Smiths Group plc, Tri Graha Sealisindo, and Valqua Ltd.
To stay too competitive in the market, key players are adopting strategies such as, product launch. For instance, John Crane has launched its latest gas seal technology named Aura 120 Narrow Section gas seal, which is designed to be retrofitted into centrifugal compressors with oil seals to lower operating costs, enhance reliability, and reduce methane emissions up to 95%.

North America and Asia-Pacific Gasket and Seal Market by type

Gasket and Seal Market, by Type

Based on type, the market is classified into gasket and seal. The gasket market is expected to generate the highest revenue during the projected period. This is due to rise in adoption of gaskets in automotive industry. Utilization of gaskets and seals has reduced the maintenance cost of vehicles and has significantly enhanced the lifespan of the automotive components. Gasket Market Share is expected to remain dominant in this market driven by higher adoption in end-use industries such as automotive, and refineries.

Gasket and Seal Market, by End-Use Industry

North America and Asia-Pacific Gasket and Seal Market by end-user

Based on end-use industry, the market is classified into automotive & transport, industrial & manufacturing, oil & gas, power & energy, chemicals, and others. Automotive & Transport, and Oil & Gas industries dominated the market. Automotive industry has majorly contributed to the growth of the market due to rise in stringent regulations regarding emission, which facilitates original equipment manufacturers (OEMs) to focus on the inclusion of gaskets and seals.

Gasket and Seal Market, by Region

North America and Asia-Pacific Gasket and Seal Market by regional analysis

Based on region, the gasket and seal market is analyzed across North America, and Asia-Pacific. Asia-Pacific is anticipated to exhibit considerable growth rate as compared to North America gasket and seal market. Increase in demand for electric vehicles along with boost in the manufacturing of motor vehicles in developing countries of the region drive the demand for gasket and seal in Asia-Pacific, as gasket and seal is dominantly used in automotive applications. The gasket market size is expected to rise in North America, due to greater adoption of gasket in oil and gas refineries.

Key Benefits for Gasket and Seal Market:

  • The report provides an in depth analysis of the forecast with current and future trends
  • This report highlights the key drivers, opportunities, and restraints of the market along with an impact analysis of the forecast period
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the North America and Asia-Pacific gasket and seal industry for strategy building.
  • A comprehensive analysis of the factors that drive and restrain the North America and Asia Pacific gasket and seal market growth is provided.
  • The qualitative data in this report aims on market dynamics, North America and Asia Pacific gasket and seal market trends, and developments.
  • The North America and Asia-Pacific gasket and seal market size is provided in terms of revenue.
  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
  • The profiles of key players along with their key strategic developments are enlisted in the report.

North America and Asia-Pacific Gasket and Seal Market Report Highlights

Aspects Details
By Type
  • Gasket
  • Seal
By End Use Industry
  • Automotive & Transport
  • Industrial & Manufacturing
  • Oil & gas
  • Power & Energy
  • Chemicals
  • Others
By Region
  • North America  (U.S., Rest of North America)
  • Asia-Pacific  (China, India, Japan, Indonesia, Malaysia, Thailand, Australia, South Korea, Vietnam, Philippines, Rest of APAC)
Key Market Players AREZDA, EAGLEBURGMANN GERMANY GMBH & CO. KG, FLEXITALLIC, FLOWSERVE CORPORATION, GARLOCK, JAMES WALKER GROUP LTD, JOHN CRANE, KLINGER GROUP, NICHIAS CORPORATION, SMITHS GROUP PLC, TRI GRAHA SEALISINDO, VALQUA, LTD.
 

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According to the perspectives of CXOs of leading companies in the market, surge in demand from numerous end-use industries is one of the major factors that drives the growth of the market. For instance, stringent regulations related to emission, increase in manufacturer warranty, and elevation in engine temperature are the factors that drive the demand for gaskets and seals in the automotive machines and components. Furthermore, introduction of latest engine and equipment designs in aerospace industry boost the need for sealing solutions that combine high resistance and durability.

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