Gaskets and seals are primarily used to restrict pressure while also preventing contamination from outside particles; they provide great performance and safety in fluid or gas systems that operate under pressure. Seals are utilized between rotating engine parts, pumps, and shafts, whereas gaskets seal a link between two components or flanges with flat surfaces. Gaskets are utilized to prevent leaks anywhere a union or flange is required. Static seals are the most typical use for gaskets. Many different materials are used to make gaskets. The most popular rubber or elastomeric materials used to create gaskets include nitrile, pure gum rubber, viton, neoprene, EPDM butyl, and SBR. When a highly compressible gasket is required, gaskets can be made from a variety of materials, such as treated cork and rubber, non-asbestos (aramid fiber), fiber (vegetable fiber), cork, graphite, PTFE, or closed-cell sponge.
The global gaskets and seals market is segmented on the basis of material type, application, and product type. Based on material type, it is divided into metal, plastic polymer, fiber, silicon, and rubber. Based on application, it is divided into cooling, transmission, engine, brake, fuel supply, and battery. Further, based on product type, the market is divided into cylinder head gaskets, O-ring seals, valve stem seals, vent seals, plug-in seals, and rotary seals.
Industry Demand
According to OMR Research, the global gaskets and seals market is projected to grow at a CAGR of 4.8% during the forecast period (2023-2029). An important market driver is rising demand from the automotive industry due to the increased use of gaskets and seals in cars. Rubber gaskets are most commonly used in automobile applications, where they are found on doors and trunk lids to keep out moisture and other external substances or impurities. The usage of gaskets and seals has reduced vehicle maintenance costs while also increasing the lifespan of automobile components. Thus, the growth of the automotive industry will boost the gaskets and seals market as well.
Additionally, seals and gaskets are also utilized in the oil and gas industry and in a wide range of electrical and electronics manufacturing applications, including switches, LCDs, transformers, timers, communications devices, and other microelectronics. As a result, a growth in the manufacture of electronic equipment such as smartphones, watches, refrigerators, and TVs is predicted to fuel product demand, backed by rising consumer expenditure. According to Statista, in 2023, the consumer electronics market will generate $1,103.0 billion in revenues. The market is predicted to expand by 2.17% each year (CAGR 2023-2027).
Recent Developments
The key companies in the gaskets and seals market include Cooper Standard, Crown Gaskets Pvt. Ltd., Dana Inc., Dätwyler Holding Inc., ElringKlinger AG, Flowserve, Freudenberg FST GmbH, Federal-Mogul Corp., Garlock Sealing Technologies LLC, SKF, Smiths Group, SSP Manufacturing Inc., and others. To remain competitive in the market, market players are contributing substantially to market growth through different tactics such as mergers and acquisitions, regional expansion, partnerships, collaborations, and new product launches. Some recent market activities include-
• In January 2023, Zone Enterprises, a pioneer in custom-designed sealing, insulating, and acoustic solutions, recently acquired the Nashville, Tennessee-based firm Can-Do National Tape, specialized in custom die-cut and rotary-cut adhesive and tape products. The acquisition will allow Zone to better address the demands of its clients and increase its client base.
• In October 2022, Erith Middle East, a leading producer and supplier of high-quality and high-end sealing products and solutions to major influencers in the energy, chemicals, power, nuclear, power, mining, metals, and other critical sectors, inaugurated its industrial-scale sealing product production plant, Erith Industries FZ LLC, at the Al Hamra Industrial Area in Ras Al Khaimah, UAE. The plant will eliminate imports of foreign sealing solutions and products to the UAE and will export to various countries after fulfilling domestic demand.
• In October 2022, Trelleborg Sealing Solutions introduced the Tran-SECURE Fluid Sealing Management Program. Trelleborg's Tran-SECURE Program ensures the chemical transportation business in the Americas has fast access to crucial components for railcar maintenance and repair. The Tran-SECURE Program, which includes high-performance designed solutions such as manways and O-Rings, flat gaskets, and valve repair kits, is supported by Trelleborg's global resources, local assistance, and unequalled material research. Customers obtain the appropriate seal for their tank car, regardless of the product carried, to maximize seal life and reduce maintenance and downtime.
• In August 2022, Trelleborg Sealing Solutions launched the HMF FlatSeal, a new series of flat gasket materials for excellent static sealing in low- and high-temperature applications. Specialist materials for use with severe chemicals and media are available for use in the automotive, oil and gas, aerospace, chemical processing, food and beverage, and pharmaceutical sectors.
• In March 2022, Sur-Seal Company, a market leader in custom sealing solutions, acquired a North Carolina-based company, Mueller, specializing in custom die cutting, CNC cutting, slitting, and laminating. The acquisition will assist Sur-Seal and Mueller in meeting the demands of the company’s growing client base.