Gaskets Market Size, Share, Growth, Trends, and Global Industry Analysis: By Material Type (Semi-Metallic, Non-Metallic, and Metallic), By Application (Automotive, Aerospace, Electrical & Electronics, Marine & Rail, Industrial & Manufacturing, Oil & Gas, Chemicals & Petrochemicals, and others), By End-User (OEMs, and Aftermarket) and Region Forecast 2019-2030

The gaskets market size was valued at US$ 53,892.1 million in 2023 and is projected to reach a value of US$ 74,826.3 million by 2030, at a CAGR of 4.8% from 2024-2030. Moreover, the U.S. gaskets market is projected to grow significantly, reaching an estimated value of US$ 29,749.9 million by 2032.

A gasket refers to an elastic seal that covers spaces between two or more surfaces. Gaskets are widely used in most industries, for example, the water industry, food processing, pharmaceutical, petrochemical, and gas industry. Gasket materials are liked because of their ability to work in several environments such as in extreme temperatures, mining, and deep-sea, and resistance to chemicals. Sustainability is becoming more of a focus, and manufacturers are trying to develop more eco-friendly gaskets, possibly made from renewable sources, which can also be recycled after use. Lowering the energy intensity of production and transport will grow in importance and is a gasket market growth driver.

Key Players

The primary innovative and competitive players in the gaskets market include Garlock, offering high-performance sealing solutions; Flexitallic, which specialized in industrial gaskets; John Crane, providing comprehensive sealing technologies; Klinger, better known for advanced material formulations; Teadit, focusing on environmental sustainability in the gasket products; and Hennigsdorfer, providing solutions for various industries. AESSEAL serves reliability and efficiency in its sealing systems, then from the side of Sumitomo Rubber Industries advanced materials in offers for gasket, Victor Gaskets is also represented here due to its applications in the automobile sector, while SRI or Sealing Resource International delivers a diverse product line for multiple sectors. All these companies together hence contribute for growth and evolution in terms of gaskets within this industry, catering to diverse industrial needs.

Among these companies in the gaskets market, Garlock and Flexitallic are well-known companies. Garlock is part of EnPro Industries and delivers solutions for innovative sealing solutions and high-performance gaskets for various industries such as oil and gas, chemical processing, and pharmaceuticals. Concentrating more on dependability and durability, Garlock is still the leader in advanced sealing technologies. Flexitallic is an engineered gasket solutions company, specializing in spiral wound and metallic gaskets, with leading market presence in sectors such as energy, chemical, and power generation. Both companies focus on excellence in quality and innovation, thus significantly contributing to the world of gaskets.

Facts & Figures

• China produced over 25 million vehicles in 2023, significantly driving the demand for automotive gaskets
• The oil and gas industry is projected to require more than 200 million gaskets annually by 2025, driven by ongoing exploration and production activities
• In 2022, the U.S. aerospace sector utilized approximately 15 million gaskets, primarily in aircraft engines and fuel systems.

Key Takeaways

• Asia-Pacific is the most emerging and largest market for gaskets
• By Material Type, metallic segment holds 42.3% market share
• By Application, automotive segment holds 37.2% market share
• By End-User, OEMs segment holds 52.3% market share

Key Developments

• In April 2024, Flexitallic acquired HighTemp Gaskets, a company known for its progressive high-temperature gasket materials, to enlarge its product range.
• In June 2024, AESSEAL acquired Sealing Dynamics, which enhances its competencies in providing comprehensive sealing solutions across various sectors.
• In August 2024, Sumitomo acquired Automotive Gaskets Inc., expanding its footprint in the automotive gasket market.

Gaskets Market Segmentation:

By Material Type: Major applications of the metallic gasket occur under high temperatures and pressure procedures such as water heaters, steam pressure vessels, generators, treatment vessels, and steam humidifiers. Moreover, these gaskets also occur under pressure and temperature variations, bolt stress relaxation, and creep conditions; hence, they are expected to rise further in the coming years.

By Application: The automotive sector holds the highest market share in the gaskets market since it utilizes a significant volume of gaskets in its engine components, exhaust systems, and transmissions, where sealing is an important requirement for sealing to maintain performance. The next closest grouping includes the Oil & Gas industry, requiring high-performance gaskets for pipelines and drilling equipment operating at extreme conditions. The Industrial & Manufacturing segment also accounts for a significant percentage, as gaskets are used in almost all machinery and equipment that participate in the processes. Other industries of notable value are Aerospace, Electrical & Electronics, and Chemicals & Petrochemicals whose market share percentages are relatively minor.

By End-user: The OEM segment comprised the majority of the market In industrial applications, OEMs demand a wide range of gaskets in various thicknesses to meet numerous product requirements. The marine industry OEM needs more than fluid or water-resistant properties through their cushioning and gasketing system to withstand physical shocks, weather vibrations, extreme temperature fluctuations, and many more to protect industrial-duty applications.