Encapsulated Gaskets/Seals Market: Overview
- Seals are molded or machined products. They are flat and round in shape such as an O-ring. Gaskets are cut into different shapes to fit in the bolt spacing of a component and design. Gasket is a type of seal used to join two components with flat surface. It is a piece of material placed between two parts to join the two surfaces. It is used to fill irregularities in surfaces. It is produced from different types of materials including silicon, rubber, fiberglass, paper, metal, and polymer.
- Encapsulated gaskets/seals are specifically developed to address common issues such as chemical and temperature resistance
- Encapsulation of gaskets/seals is done with the Teflon and various other materials. Encapsulation provides high thermal stability and resistance to gaskets/seals. There are two types of encapsulation: hollow and core.
Growth in Automotive and Aerospace Industries to Drive Market
- Rise in demand for Form-in-Place (FIP) gaskets and sealing solutions in aerospace and automotive applications is expected to drive the global encapsulated gaskets/seals market during the forecast period
- Increase in environmental concerns and government regulations for industrial emissions across the world is also anticipated to drive the demand for gasket and sealing solutions in the manufacturing industry
- Encapsulated gaskets and seals are critical components in fluid and gas transfer applications in different industries. Gaskets and seals prevent leakages and maintain production efficiency.
- Key manufacturers are investing in research and development activities to come up with innovative products such as elastomers and engineered plastics to manufacture innovative seals for various applications. Companies are working on the development of advanced encapsulated gaskets and seals that are lightweight and space-saving and offer thermal resistance. This is projected to drive the global encapsulated gaskets/seals market in the near future.
- Volatility in prices of raw materials is estimated to restrain the market during the forecast period
- The global encapsulated gaskets/seals market is facing supply-demand shortages due to the industrial shutdown caused by the COVID-19 pandemic. This disruption in supply is projected to hamper the market in the near future.
- The epidemic has disrupted the whole supply chain network, as there was limited/no production in organizations due to lockdown. Some companies had limited access to workforce. The Covid-19 pandemic has adversely impacted the overall production of factories.
- The pandemic has also negatively affected the global economy. This has resulted in decrease in demand for various products. In turn, this has affected the global manufacturing industry. These factors are projected to hamper the global encapsulated gaskets/seals market during the forecast period.
Seals Product Type Segment to Offer Lucrative Opportunities
- Based on product type, the global encapsulated gaskets/seals market can be bifurcated into gaskets and seals. The gaskets segment can be further divided into non-metallic, semi-metallic, and metallic. The seals segment can be further sub-segmented into shaft seals, molded packing & seals, motor vehicle seals, and others.
- The seals segment is anticipated to dominate the encapsulated gaskets/seals market during the forecast period
Automotive Application Segment to Offer Lucrative Opportunities
- Based on application, the global encapsulated gaskets/seals market can be segregated into automotive, pharmaceuticals, aerospace, oil & gas, dairy & beverages, wine/beer, marine & rail, industrial & manufacturing, chemicals & petrochemicals, and others
- The automotive segment is estimated to dominate the encapsulated gaskets/seals market during the forecast period
OMEs End-use Segment to Hold Major Share of Market
- Based on end-use, the global encapsulated gaskets/seals market can be bifurcated into OMEs and aftermarket
- The OMEs segment held major share of the market in 2019. This trend is expected to continue during the forecast period.
- Rise in demand for encapsulated gaskets/seals from aerospace, electronics, and other industries is likely to drive the global encapsulated gaskets/seals market during the forecast period
Asia Pacific to Constitute Significant Share of Global Market
- In terms of region, the global encapsulated gaskets/seals market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Expansion of the aerospace & defense industry in Europe is likely to boost the encapsulated gaskets/seals market in the region. Rise in defense expenditures by Germany and France in order to fulfill North Atlantic Treaty Organization (NATO) requirements is driving the aerospace & defense industry in the region. This is anticipated to boost the demand for encapsulated gaskets/seals during the forecast period.
- Stable economic growth, expanding manufacturing industry, growing business investment spending, etc. are estimated to drive the encapsulated gaskets/seals market in Asia Pacific
- The Middle East is one of the key contributors to the global aerospace MRO industry. This is driving the demand for encapsulated gaskets/seals in the region.
Key Players in Market
The global encapsulated gaskets/seals market is fragmented, with the presence of several regional and global manufacturers. Prominent players operating in the market are investing in research and development of advanced products in order to maintain their leading position. Key players in the market are collaborating with technology service providers to offer smart solutions. Companies enter into long-term supply and MRO contracts in order to maintain their position in the market.
Leading players operating in the global encapsulated gaskets/seals market include:
- Vulcan Engineering Limited
- Northern Engineering (Sheffield) Ltd
- Epidor Seal and Rubber Technology
- Flowserve Corporation
- Garlock Sealing Technologies LLC.
- UK Seals & Polymers Limited
Global Encapsulated Gaskets/Seals Market: Research Scope
Global Encapsulated Gaskets/Seals Market, by Product Type
- Shaft Seals
- Molded Packing & Seals
- Motor Vehicle Seals
Global Encapsulated Gaskets/Seals Market, by Application
- Oil & Gas
- Dairy & Beverage, Wine/Beer Industry
- Marine & Rail
- Industrial & Manufacturing
- Chemicals & Petrochemicals
Global Encapsulated Gaskets/Seals Market, by End-use
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