Gasket and Seals Market, By Product Type (Gaskets (Jacketed Gaskets, Solid Gaskets, Spiral Wound Gaskets and Kammprofile Gaskets) and Seals (Static Seals and Dynamic Seals)), By Sales Channel (OEM and Aftermarket), By Material Type (Metallic and Non-metallic (Elastomeric and Others), By End-use Industry (Automotive, Aerospace, Machinery, Electronics & Electrical, Marine & Rail and Others)and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Gasket and seals are the materials used to prevent the passage of any foreign media through to and fro, the joined object while under compression. Gasket is a mechanical seal, which fills the space between two or more mating surfaces, in order to prevent leakage. Gaskets allow perfect mating surface wherein they can fill irregularities. Gasket and seals are widely used across all end-use industries. Depending upon the application, a different types of gasket and seals are used among various end-use industries. Spiral wound, jacketed, kammprofile, solid ring are among the key gasket types, while o-ring seal, body seals, mechanical seals, shaft seal, piston seal, etc. are the key seal types used in different applications.
Leakage from various industrial equipment can result in significant loss of material and indirect loss, in terms of labor and material cost of repair, environmental losses, wasted energy, sales due to downtime, etc. Both direct and indirect loses can incur a negative impact on a company’s operation in terms of revenue generation as well as diminishing the brand image in case of industrial accidents and claims for personal injury. Thus, these factors are expected to drive growth of the global gasket and seals market during the forecast period. There are various standards and regulations regarding reducing the environmental impact of leakage and fugitive emissions, have been in development from different government and environmental agencies. For instance, The EPA estimates that approximately 70.4 KT/year of volatile organic compounds (VOC) and 9.4 KT/year of hazardous air pollutants (HAP) are emitted from equipment leaks, which significantly contribute to the formation of ground-level ozone. Moreover, European Environmental Agency, Environmental Protection Agency, etc. are focused on the development of standards to control amount of the leaks. Thus, these factors are expected to propel the market growth in the near future.
This report segments the Global Gasket and Seals Market on the basis of Product Type, Sales Channel , Material Type, End-use Industry and Region. On the basis of Product Type, Global Gasket and Seals Market is segmented into Gaskets (Jacketed Gaskets, Solid Gaskets, Spiral Wound Gaskets and Kammprofile Gaskets) and Seals (Static Seals and Dynamic Seals). On the basis of Sales Channel , the Global Gasket and Seals Market is segmented into OEM and Aftermarket. On the basis of Material Type, the Global Gasket and Seals Market is segmented into Metallic and Non-metallic (Elastomeric and Others. On the basis of End-Use Industry, the Global Gasket and Seals Market is segmented into Automotive, Aerospace, Machinery, Electronics & Electrical, Marine & Rail and Others. On the basis of region, Global Gasket and Seals Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.
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