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US Demand for Gaskets and Seals to Reach $9.6 Billion in 2016

Cleveland 6/07/2012 06:30 PM GMT (WooEB)

US demand for gaskets and seals is forecast to increase 4.6 percent per annum to $9.6 billion in 2016, a substantially higher growth rate than during the 2006-2011 period.  Rebounds in construction expenditures and motor vehicle production, as well as positive outlooks for capital spending and machinery production, will benefit gasket and seal manufacturers.  Increased use of better performing gaskets and seals made from advanced materials, which offer improved lifespans over traditional sealing materials, will also stimulate dollar growth.  However, in the longer term this will have a mixed effect on the market, as initial value gains will be somewhat offset by decreased aftermarket sales opportunities.  These and other trends, including market share and product segmentation, are presented in Gaskets & Seals, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.  

Among all gasket and sealing products, compression packings, body seals, and expanded graphite gaskets will register the strongest growth through 2016.  Demand for compression packings will be spurred by increases in machinery output and capital spending.  The rebound in motor vehicle production will be the primary factor driving body seal demand, and expanded graphite gaskets will continue to supplant traditional gasketing materials in a variety of motor vehicle and machinery settings because of their high chemical and temperature resistance and light weight.

The marine and rail market is projected to post the most rapid growth through 2016 of any of the major gasket and seal markets.  Sizable replacement product sales opportunities and the positive outlook for marine and rail equipment shipments will bolster sales gains.  However, because of their much larger shares of overall demand, the motor vehicle and machinery industries will record much stronger increases in dollar terms.  A rebound in motor vehicle production and a rise in the number of motor vehicles in use will fuel sales of related gasket and sealing products.  In addition, the growing use of better performing, higher-priced gaskets and seals will further drive value gains.  Increases in machinery gasket and seal demand will be supported by the existence of a large aftermarket, reflecting the harsh conditions that many machinery products operate in; and an increase in machinery outputs as capital expenditures rise.

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.

pr@freedoniagroup.com
www.freedoniagroup.com

 

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