Farmington, April 28, 2023 (GLOBE NEWSWIRE) -- The Global Gasket Sealant Market Size Was Valued At USD 56.93 Billion In 2022, And Is Projected To Reached At USD 82.20 Billion by 2030 and growing At A CAGR Of 4.7% Over The Forecast Period 2023 To 2030. The market is anticipated to expand as a result of the increased use of modern materials in the production of gasket sealants for critical applications such as aircraft, medical equipment, and chemicals. The global gasket seals industry has not expanded as rapidly as it could due to investors' lack of confidence in the future and the economic slowdown caused by the COVID-19 problem. This has also had a significant impact on the gaskets and seals market. The COVID-19 outbreak has hampered the expansion of American industries. The market for products has also been negatively affected by orders to stay at home and avoid people. In 2021, the automotive industry held the largest market share in the United States, and its annual growth rate over the next five years is anticipated to be 3.3%. Gasket gaskets are designed to function effectively and aid manufacturers in meeting stringent standards and requirements.
Request Sample Copy of Report “The Global Gasket Sealant market Size, Share & Trends Estimation Report By Type Outlook (Liquid Sealant, Anaerobic Sealant), By Application Outlook (Automotive, Electronic, Mechanical, Industrial), By End-use Outlook (OEM, Aftermarket, Global Gasket Sealant Market APAC), Region and Forecasts, 2022 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook:
Liquid Sealant
Liquid Gaskets, also known as liquid adhesives, are utilized to seal various types of threaded connectors and lines.
Anaerobic Sealant
Anaerobic sealants, such as flange and thread sealants, strengthen junctions and seals in systems with physically locking structures.
Application Outlook
Automotive
In 2021, over 33.00% of total revenue was generated by the automotive application group, which dominated the global market.
Electronic
Because more money is being invested in research and development and the digital economy is growing, it is anticipated that the electrical and electronics industry will expand exponentially.
Mechanical
A gasket is a mechanical component that seals the space between two or more mating surfaces. Its primary function is to prevent leakage from escaping or entering under-pressure connections.
Industrial
In industry, liquids or gases cannot pass through a surface, so seals and coverings are utilized. After consulting with experts in the field and observing actual work environments, we created our new industrial sealants. Henkel manufactures a vast array of industrial covers that help businesses save money and operate more efficiently.
End Use Outlook
OEM
In 2021, the OEM sector dominated the market and generated sixty percent of total revenue. The growth of the market for gaskets and seals is likely to be fuelled by the development of high-tech materials that can function under challenging conditions.
Aftersales market
The aftermarket is another lucrative segment of the global car gaskets and seals market.
Regional Analysis:
Asia-Pacific dominated the market in 2021, accounting for more than 44.5% of all global sales. The market has expanded due to factors such as robust economic development, rising business investment spending, and robust industry output growth. This is especially true in China and Japan. In North America, the insulation market is significantly impacted by the Environmental Protection Agency's (EPA) stringent regulations and the rising need to reduce hazardous pollution from rotating equipment in all industrial sectors.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 4.7% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 82.20 billion |
| By Type |
|
| By Application |
|
| By End User |
|
| By Companies |
|
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Key Segments Covered:
Top Market Players:
- Henkel
- Permatex
- Deacon Industries
- Temati
- Ellsworth Adhesives
- DME Company
- Emerson Bearing
- Epoxies
- Farnell Europe
- Glotrax Polymers,
- Hernon Manufacturing
- Hi-Tech Seals, and others.
By Type
- Liquid Sealant
- Anaerobic Sealant
By Application
- Automotive
- Electronic
- Mechanical
- Industrial
By End User
- OEM
- Aftersales market
- Global Gasket Sealant Market APAC
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
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