NEW YORK, Feb. 23, 2017 /PRNewswire/ -- Supported by growth in durable goods manufacturing output, US demand for gaskets and seals is expected to increase 2.7 percent per year through 2020 to $10.2 billion. An ongoing shift in the product mix toward better performing and generally higher value components will also contribute to value gains. Molded seals/packings and body seals will remain the leading products, with each accounting for 23 percent of demand in 2020. Metallic gaskets are projected to outpace all other product types.
Among the questions answered by this study:
- How will the slowdown in motor vehicle production impact gasket and seal demand?
- Which market will offer the fastest increase in sales?
- Which products have the greatest opportunities for growth?
Read the full report: http://www.reportlinker.com/p04708297-summary/view-report.html
Description
Durable Goods Output Growth to Remain Key Contributor to Growth in the Gasket & Seal Market
Mixed Gaskets and Seals
US demand for gaskets and seals is projected to advance 2.7 percent per year through 2020 to $10.2 billion. Continued growth in durable goods output will boost sales advances. The rising use of better performing, and higher value gaskets and seals in OEM installations will also help boost value gains. However, the rate of increase in durables production will not be as strong as the one recorded between 2010 and 2015, resulting in a similar moderation in gasket and seal demand growth.
Key Findings in the Gaskets and Seals Study
Metallic Gaskets to Continue to Outpace Nonmetallic Gaskets
Comprising 52 percent of all gasket demand in 2015, metallic gaskets will significantly outpace nonmetallic gaskets through 2020. Metallic gaskets are generally better suited for use in applications with high temperatures and pressures than are many types of nonmetallic gaskets, supporting demand for metallic gaskets.
Motor Vehicles Will Remain the Largest Market
Motor vehicles will continue to be the largest gasket and seal market in the US, accounting for 43 percent of all demand in 2020. A significant number of gaskets and seals are installed in the average motor vehicle. However, motor vehicle production is forecast to slow through 2020 after posting near double-digit gains between 2010 and 2015. As a result, growth in the motor vehicle market will slow to a rate about the same as that for gaskets and seals overall
Aerospace Equipment Market to Increase at the Fastest Rate
Aerospace equipment will offer the best sales growth opportunity for gaskets and seals through 2020, recording stronger gains than any other major market. Output of aerospace equipment will remain strong. In addition, due to the harsh operating conditions that gaskets and seals are used in, aerospace equipment utilizes sizable numbers of high quality, higher value products, which will boost overall dollar advances as industry production continues to climb.
Study Coverage
This study presents historical demand data (2005, 2010 and 2015) and forecasts (2020 and 2025) by product (nonmetallic gaskets, metallic gaskets, molded seals and packings, body seals, shaft seals, compression packings) and market (motor vehicles, machinery, electrical and electronic products, aerospace equipment, marine and rail equipment, other markets). Historical and forecast shipment and trade data is also provided by product. The study also evaluates company market share and provides a competitive analysis of key industry players including Cooper Standard, Dana, EnPro Industries, Federal-Mogul, Flexitallic, Freudenberg, Henniges Automotive, John Crane, Parker-Hannifin, SKF, Toyoda Gosei, and Trelleborg.
Read the full report: http://www.reportlinker.com/p04708297-summary/view-report.html
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