Through 2023, demand for gaskets and seals in China is projected to grow 4.9% annually to $20.9 billion. Machinery is the largest market for gaskets and seals. Through 2023, gains will be driven by increased production of smart products – including automated types and robots – that are higher value and therefore require higher value gaskets and seals that will prevent the machinery from breaking down.
The electrical and electronic equipment market is expected to expand more quickly and offer opportunities similar to the larger machinery market as the manufacture of more technologically advanced products increases, driving demand for higher value gaskets and seals.
For more information regarding the Global Gaskets & Seals study visit: https://www.freedoniagroup.com/industry-study/global-gaskets-seals-3807.htm
Gasket and seal manufacturers have devoted immense resources to researching the potential of a number of alternative materials to perform essential functions. This research has led to the use of an array of alternative materials at the expense of traditional ones (e.g., commodity rubber, paper, felt, and cork):
- Advanced fiber gaskets and packings – including those made from fiberglass, aramid fibers, and carbon (or graphite) fibers – are among the most prominent examples of this trend.
- Gaskets and seals can also be made using recycled and other nontraditional materials to reduce costs and improve productivity.
Contact Corinne Gangloff for an interview with the analyst.
Additional Industrial Components studies can be viewed here: