Global Gaskets and Seals Market to Reach US$ 30 Billion by 2017, According to New Report by Global Industry Analysts, Inc.
San Jose, CA (PRWEB) February 22, 2012
Follow us on LinkedIn – As vital machine components, gasket and seals are widely utilized in diverse end-use applications ranging from automobiles, industry machinery (construction & related equipment, general purpose machinery, engines, turbines & power, HVAC & service equipment), to electrical & electronic equipment (instruments, computers, appliances, marine & rail, and aerospace), among others. Leading gasket & seals producing countries worldwide include Canada, Mexico, Japan, China and Germany. Continued and steady incremental technological improvements in mechanical strength, sealing capabilities will trigger demand among end-user industries for high performance and functional products. This demand for improved performance will continue to push manufacturers to stress on R&D to advance their product capabilities. Complex applications in defense and medical sectors will throw up manufacturing and design challenges that manufacturers will need to reckon with. The industry, over the past decade witnessed an unending string of mergers and acquisition with large conglomerates acquiring medium to small-scale players to enhance capacity expansions and complementary technologies.
Performance of key end-use industries, such as, automotive, oil & gas/process/refinery/, aerospace and defense in Europe, the United States and Japan, currently hangs in balance. The overshadowing concerns over the European debt crisis and the ensuing indiscriminate budgets cuts, Japan’s continued struggle with its deep-seated problems of high debt and deflation, and slow recovery of the US economy with its unretractable debt/deficit levels, have bifurcated market sentiments.
Amid conflicting news on the success of Europe’s band-aid strategy including the initial starving of the European markets of credit, and the subsequent reopening of global liquidity lines to bailout banks and spendthrift countries and calm the financial markets, market sentiments continue to swing between hope and concerns. While bearish market sentiments foresee an imminent slowdown in market prospects in these countries, guarded optimism prevails over the financial bailout strategies designed to restore market confidence. Germany’s relative resilience in handling the euro zone crisis is helping strengthen confidence levels. With mixed signals emanating from the unfolding drama surrounding the crisis of the euro, it still remains too early on to forecast the market’s reactive impact on demand for gasket and seals in the region. Bearish views on the market’s outlook in the immediate term, although currently not seen as likely, indicate that Europe’s debt woes can likely flatten the European automotive industry, while the oil and gas industry, which is already witnessing declines in oil demand and prices can soften demand for gasket and seals in the oil & gas/refinery industry in the region.
Unlike in Europe and North America, clearer market visibility in developing countries like China, India, Brazil which until now have no clear signs of the contagion from debt crisis spreading to developing countries, allows for unequivocal growth forecasts in these countries. These countries are therefore expected to feed the growth engine in the world market for gasket and seals, outpacing growth in US and Europe by a healthy margin. Steady economic growth, stricter environmental regulations and laws, stronger production activities across key end-use industries, large installed base of aging industrial machinery, undeterred pace of industrialization, mass exodus of automotive and industrial manufacturing activity to developing countries such as China and India, among others, remain truly powerful drivers capable of fuelling growth in the world market.
As stated by the new market research report on gaskets and seals, the US continues to remain the largest regional market. Asia-Pacific represents the fastest growing market projected to display a CAGR of 5.5% over the analysis period. Growth in the automotive end-use industry is forecast to average 3.7% over the same period. Manufacturers in the upcoming years will focus on increasing the use of high-quality raw materials for delivering products with superior functionality and longer life. Some of the materials that are fast gaining acceptance include urethane, TFM polytetrafluoroethylene, microcellular foams, and expandable graphite. These advanced raw materials offer enhanced performance and remain stable in harsh conditions. Non Metallic Gaskets is the fastest growing product market with Elastomeric gaskets manufactured using synthetic rubber or thermoplasic elastomers, in particular poised to witness the maximum growth. While the demand for rubber gaskets will be driven by growing acceptance of more advanced rubbers, such as epichlorohydrin, acrylics/ethylene, and fluoroelastomers, growth in thermoplastic elastomer gaskets market will be boosted by superior capabilities of advanced thermoplastic elastomers and other specialty compounds.
Major players in the marketplace include Blue Diamond Technologies Ltd., BRUSS, Dana Corporation, ElringKlinger AG, Federal-Mogul Corporation, Flowserve Corp., Greene, Tweed Company, Hutchinson SA, Parker Hannifin Corp., Reinz Dichtungs GmbH, SIEM Supranite SA, Saint Gobain Performance Plastics, SKF Group, Smiths Group Plc., Trelleborg Sealing Solutions, W.L. Gore & Associates Inc , Zone Reed Industries, among others.
The research report titled “Gaskets and Seals: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. Product segments analyzed include Gaskets (Non Metallic & Metallic), and Seals (Mechanical & Others). Key end-use segments analyzed include Automotive, Process/Refinery/Other General Machinery, Pulp & Paper, and Marine/Rail among Others. Market estimates and projections are presented for all major geographic markets including the United States, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
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