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Gaskets Market Trends

Report ID: GMI5681
Published Date: Nov 2024
Report Format: PDF

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Gaskets Market Trends

The gaskets industry is evolving with two key trends, sustainability and digital integration. Manufacturers are shifting towards eco-friendly, non-toxic, and recyclable materials to meet stricter environmental regulations and consumer expectations. This has led to innovations in bio-based and high-performance elastomers that balance durability with minimal environmental impact. Simultaneously, the industry is embracing digital tools and Industry 4.0 technologies. IoT and predictive maintenance systems now allow real-time monitoring of gasket performance, helping predict wear and tear and extend equipment life. Advanced simulation software enables digital prototyping and testing, optimizing gasket designs before production. These trends are enhancing efficiency, reducing costs, and meeting the high-performance demands of modern industrial and automotive applications, while also addressing environmental concerns.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for gaskets was reached USD 9.4 billion in 2023 and is estimated to grow at a 6.2% CAGR from 2024 to 2032, driven by rising demand from the automotive and industrial sectors.

The soft gaskets segment was valued at approximately USD 3.1 billion in 2023 and is expected to grow at a 6.4% CAGR through 2032, led by their excellent sealing capabilities and adaptability.

The offline sales segment dominated with around 63% market share in 2023 and is expected to grow at a 6.4% CAGR up to 2032, propelled by the need for custom, high-performance products in industries like automotive, aerospace, and machinery.

The U.S. gaskets market size surpassed USD 2.1 billion in 2023 and is predicted to showcase about a 6.4% CAGR through 2032, driven by demand from the automotive, aerospace, and manufacturing sectors.

Major players in the gaskets industry include BRUSS Sealing Systems GmbH, Cooper Standard Holdings Inc., Dana Incorporated, Datwyler Holding AG, ElringKlinger AG, Flowserve Corporation, Freudenberg Sealing Technologies GmbH & Co. KG, Garlock Sealing Technologies LLC, IGP Engineers Private Limited, John Crane Group Limited, KLINGER Holding GmbH, SKF Group, Smiths Group plc, Tenneco Inc., and Trelleborg AB.