Gasket and Seals Market is gaining rapid traction with Superior Industries Inc. launching application-specific idlers seals at CONEXPO-CON/AGG 2020

 

Gasket and Seals Market

Gasket and seals are mainly mechanical parts primarily utilized to fill the voids between two or more moving surfaces in order to avoid leakage of fluids and gas. Generally, they are used together with packing compounds to assist manufacturers to keep ideal pressure within a component while still maintaining lubricity. As the names suggest, the gasket and seals play an important role in ensuring the smooth movement of air, fluids, and gases inside an assembly. When it comes to geographical footprint Europe seems to be gaining rapid traction in the gasket and seals market. This is mainly due to the fact that there is high demand for gaskets and seals in the aerospace as well as defense sectors. On the other hand, Asia Pacific is exhibiting lucrative signs in the adoption of gasket and seals. Rapid motor vehicle production in emerging economies such as Japan and China.

The demand for gaskets and seals has increased over the years, with typical applications in the oil and gas industry. As a result of this, key manufacturers are focused on continuous research and development activities, in order to expand their product portfolio and gain a competitive edge in the market. Recently, in August 2020, Alba Gaskets Ltd. launched Alba-RIG (Rapid Integrity Gasket) for the oil and gas industry. Hence, such product launches can stimulate growth of the gasket and seals market.

Gasket and seals are often utilized together with a silicone fluid to assist with the sealing of the cap sheets of electrical boxes. This is particularly applicable in automotive applications where the sealant is applied across the box caps for protection against oil and dust. The gasket is then placed over the caps and tightened to provide optimal protection to the electrical components. Despite high demand from various end-use sectors, the gasket and seals market is likely to witness a potential dip in the near future. In the recent past, automotive production has slowed down in various countries due to slow economic growth. Besides, stagnant industrial growth in developed countries as well as the negative impact of the COVID-19 pandemic can inhibit growth of the gasket and seals market.

As demand for seals and gaskets increases, so does the number of suppliers in the marketplace. This has resulted in lower prices due to the increased competition, enabling end-users to benefit from cost-effective solutions to their most pressing issues. The demand for gaskets and seals has gone in the chemicals and petrochemical sector as well. Gaskets and seals are typically used as sealants to fill irregularities or gaps between two or more surfaces. While a special type of gasket is required in the petrochemical sector, it is required to have certain properties such as chemical resistance, pressure resistance, temperature resistance, and compression. Thus, such factors can augment growth of the gasket and seals market.

Recently, in January 2020, Superior Industries Inc. launched application-specific idlers seals at CONEXPO-CON/AGG 2020.    


Location: India

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