Looking forward, IMARC Group expects the market to reach US$ 77.1 Billion by 2027, exhibiting at a CAGR of 4.13% during 2022-2027.
STE R SHERIDAN, WYOMING, UNITED STATES, April 19, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Gaskets and Seals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 60.2 Billion in 2021. Gaskets and seals refer to mechanical fixtures that are widely utilized to prevent fluid leakage. Gaskets are static seals generally used to seal two flat surface components or flanges that are manufactured using nitride, rubber, graphite and neoprene. On the other hand, seals are utilized between rotating components, such as pumps, engine parts and shafts. They consist of an outer metal ring and an inner rubber surface that is usually flat and round in shape.
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The global market is primarily driven by significant growth in the construction industry. Along with this, the widespread usage of gaskets and seals in the automotive industry to prevent the spillage and leakage of fluids and gases is also providing an impetus to the market growth. Some of the other factors contributing to the market growth include the increasing adoption of mechanical equipment in several industrial processes and extensive research and development (R&D) activities conducted by key players. Looking forward, IMARC Group expects the market to reach US$ 77.1 Billion by 2027, exhibiting at a CAGR of 4.13% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
Freudenberg Sealing Technologies
BRUSS Sealing Systems
Cooper Standard Holding
Garlock Sealing Technologies
Historical, Current and Future Market Trends
Market Breakup by Product:
Spiral Wound Gasket
Motor Vehicle Body Seals
Market Breakup by Material:
Market Breakup by Application:
Electrical and Electronics
Marine & Rail
Oil & Gas
Chemicals & Petrochemicals
Market Breakup by End-Use:
Market Breakup by Region:
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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