CLEVELAND, Jan. 2, 2017 /PRNewswire/ -- Demand for metallic gaskets is forecast to advance 4.7 percent per year through 2020 to $2.2 billion, slowing from the robust pace of the 2010-2015 period but continuing to outperform nonmetallic gaskets as metallic gaskets continue to supplant nonmetallics in a number of applications. Sales of metallic gaskets will also be supported by ongoing gains in major end-use markets, including motor vehicles and machinery. However, slowing output gains in both industries will cause metallic gasket sales increases to slow compared to the 2010-2015 period. In addition, competition from some nonmetallic gaskets, especially those made from advanced nontraditional materials such as flexible graphite and advanced fibers, will also restrain growth to some extent. These and other trends are presented in Gasket & Seal Market in the US, 12th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Aluminum, brass, bronze, copper, nickel, stainless steel, steel, and titanium are the primary metals used for gasketing. Additionally, a wide range of metallic alloys are used. A number of different criteria must be considered when selecting metallic gaskets, including the joint to be sealed, expected temperature range, fluid and flange compatibility, flange contact, face type, surface finish, and seating stress. Metallic gaskets are used heavily in industries like process manufacturing (e.g., petrochemicals), power plants (both conventional and nuclear), and motor vehicles and other transportation equipment (especially aerospace and marine).
Shipments of metallic gaskets are projected to rise 5.0 percent annually through 2020. Anticipated demand increases will contribute to a large portion of production growth. In addition, export sales will remain a key factor in total US production, and rising export opportunities will also contribute to output gains. In fact, exports account for a larger share of total metallic gasket production than they do for nonmetallic gaskets. However, competition from imports is also strong and will remain so through 2020, preventing even faster production gains. As a result, the US will remain a slight net importer of metallic gaskets.
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About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group