Cleveland, OH – The US market for gaskets and seals is expected to expand 3.8% annually through 2018 to $10.6 billion. Gasket and seal manufacturers will benefit from solid increases in motor vehicle output, machinery production and capital spending.
Rising demand for more expensive sealing products made from advanced materials will also boost market value. However, greater utilization of better-performing, longer-lasting gaskets and seals will have a mixed effect on demand as initial value gains will be somewhat offset by decreased aftermarket sales opportunities.
These and other trends are presented in Gaskets & Seals, a new study from The Freedonia Group Inc., a Cleveland-based market research firm.
Compression packings and moulded seals and packings will register some of the most rapid sales advances among sealing products, while demand for expanded graphite gaskets will grow the fastest among gasket products. Sales of compression packings and moulded seals and packings will be primarily fuelled by a favourable outlook for machinery output.
Rising motor vehicle output and machinery production will spur demand for expanded graphite gaskets, which will continue to replace more traditional gasketing materials in a number of motor vehicle and machinery applications due to their superior chemical and temperature resistance.
According to Freedonia analyst Lee Steinbock, “Electrical and electronic products are forecast to post the most rapid gains of any major gasket and seal market through 2018.” Higher output of measuring and controlling instruments, as well as an upturn in computer and electronic equipment production after an extended period of decline, will bolster product demand.
However, due to their much larger size, the motor vehicle and machinery markets will provide greater sales opportunities for gasket and seal suppliers. Increases in motor vehicle production, as well as in the number of motor vehicles in use, will stimulate associated gasket and seal demand. Greater use of better performing, higher-priced gaskets and seals will further boost sales in value terms.
Manufacturers of gaskets and seals used in the machinery industry will benefit from continued growth in capital spending and a strong aftermarket created by harsh operating environments.
Gaskets & Seals (published 10/2014, 302 pages) is available for US$5100 from The Freedonia Group Inc. at http://www.freedoniagroup.com.