Gaskets and Seals Market to Steadily Progress at 5.2% CAGR from 2018 to 2025
Increasing demand for LCD displays, backed by the high demand for electronics device is expected to drive the growth.
(firmenpresse) - The global gaskets and seals market size is expected to reach USD 89.66 billion by 2025, at a CAGR of 5.2% from 2018 to 2025, according to a new report by Grand View Research, Inc. Increasing demand for LCD displays, backed by the high demand for electronics device is expected to drive the growth.
The use of gaskets and seals is projected to witness significant rise in demand from automobile industry as they mitigate sound and vibration in automobile engine and body parts. Moreover rising production of automobile in developing economies is anticipated drive the market growth due to extensive application scope including sunroofs, panels, interior door panels, and fuse boxes.
The threat of substitution is expected be relatively low, due to unavailability of commercially viable alternatives. However, presence of a number of internal substitutes, such semi-metallic gaskets is expected to result in substitution of their metal counterparts across application segments.
Technological advancements coupled with improvements in existing production and curing techniques, such as moisture cure and see cure is expected to result in the manufacture of advanced products. Growing application of advanced products across the application industries is expected to drive growth of the gaskets and seals market over the forecast period.
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https://www.grandviewresearch.com/industry-analysis/gaskets-seals-market
Further key findings from the report suggest:
Gaskets segment is expected to register the highest CAGR of 5.4% from 2018 to 2025, owing to the ability of the product to prevent ingress of toxic and corrosive chemicals in chemicals and oil and gas industries
Seals accounted for a market share of USD 35.5 billion in terms of revenue in 2017 due to high product demand from industrial manufacturing on account of superior leak proofing offered by the product
China contributes the largest share to the Asia Pacific gasket market, accounting over 54.0% of market share in 2017.owing to the presence of robust manufacturing base primarily for the automotive and electronics industries
The gaskets and seals market is characterized by the presence of a large number of companies with extensive direct and third party distribution channels to boost the sales
Key companies are involved in the production of a large volume of the products to increase the annual sales in addition to laying high emphasis on the product manufacturing with increased functionality
Grand View Research has segmented the global gaskets and seals market on the basis of product, application, end use, and region:
Gaskets and Seals Product Outlook (Revenue, USD Million, 2014 - 2025)
Gaskets
Metallic
Semi-metallic
Non-metallic
Seals
Shaft
Molded Packing & Seals
Motor Vehicle Body
Others
Gaskets and Seals Application Outlook (Revenue, USD Million, 2014 - 2025)
Automotive
Electrical & Electronics
Marine & Rail
Industrial & Manufacturing
Aerospace
Oil & gas
Chemicals & Petrochemicals
Others
Gaskets and Seals End-use Outlook (Revenue, USD Million, 2014 - 2025)
OEM
Aftermarket
Gasket and Seals Regional Outlook (Revenue; USD Million, 2014 - 2025)
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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Datum: 20.09.2019 - 11:34 Uhr
Sprache: Deutsch
News-ID 599233
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contact information:
Contact person: Sonali Kulkarni
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Phone: 14153490058
Kategorie:
Chemical industry
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