Market Highlights
Gasket Seal Materials Market is projected to register a CAGR of 5.40% to reach USD 37,863.5 Million by the end of 2025.
Extensive use of seals gaskets in upstream, midstream, and downstream operations is a key driver of the global gasket seal materials market. The extraction of oil and gas is one of the most challenging processes in the oil gas industry, and the equipment used in the process are required to operate efficiently under lower friction, higher pressure, different temperatures, and high speed. With the need to ensure safe, reliable, and efficient operation of a wide range of onshore and offshore equipment, the use of seals gaskets is increasing significantly, which in turn, drives the demand for gasket seal materials.
Get Free Sample Report @https://www.marketresearchfuture.com/sample_request/10105
Segment Analysis
Global Gasket Seal Materials Market Size has been segmented on the basis of Material, End-Use Industry, and Region.
Based on material, the global gasket seal materials market has been segmented into rubber, fiber, metal, PTFE, cork, and others. Among these, the rubber segment accounted for 35% of the market share in 2018; it is projected to exhibit a CAGR of 5.64%. The high demand for rubber seals gaskets is attributed to their wide use in major end-use industries such as automotive, oil gas, chemicals, and aerospace on account of various advantages such as shock resistance, oil chemical resistance, adhesion, electrical properties, weather resistance, and water resistance. However, the PTFE segment emerged as the fastest-growing segment, registering a CAGR of 6.10% on the backdrop of its excellent chemical resistance, dielectric properties, outstanding corrosion protection, electrical insulation, high thermal stability, flame resistance, and weathering resistance.
By end-use industry, the market is classified into automotive, oil gas, food beverage, electrical electronics, chemicals, aerospace and defense, and others. The automotive segment emerged as the largest and fastest-growing segment with a CAGR of 6.36% during the review period. In the automotive industry, seals gaskets are widely used in shock absorbers, battery, electronic control units (ECUs), braking systems, exhaust gas recirculation systems, safety control systems, air conditioning, ride control systems, and fuel injectors, among others.
Key Players
MRFR recognizes the following companies as the Key Players in the Global Gasket Seal Materials Market— Trelleborg Group (Sweden), Freudenberg Sealing Technologies (Germany), Parker Hannifin Corporation (US), ERIKS NV (The Netherlands), ElringKlinger Kunststofftechnik GmbH (Germany), Saint-Gobain Performance Plastics (France), BRUSS Sealing Systems GmbH (Germany), Dimer Group (Czech Republic), John Crane (US), and Klinger Holding (Austria), among others.
Key Findings of the Study
- Global gasket seal materials market is projected to reach a value of USD 37,863.5 million by 2025 at a CAGR of around 5.40% during the forecast period of 2019 to 2025.
- Asia-Pacific emerged as the leading and fastest-growing region for this market on account of the rapid growth of end-use industries in countries such as India, South Korea, and others.
- Widespread use of seals gaskets in the power generation industry is a key opportunity for players in this market.
Access Report Details @ https://www.marketresearchfuture.com/reports/gasket-seal-materials-market-10105
About Market Research Future -
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone: +1 628 258 0071(US) +44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
