In-depth analysis and data-driven insights on the impact of COVID-19 included in this global gaskets and seals market report.
The global gaskets and seals market is expected to grow at a CAGR of over 4% during the period 2020−2026.
Key Highlights Offered in the Report:
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Gaskets and Seals Market – Segmentation
Gaskets and Seals Market by Products
Gaskets and Seals Market by Type
Gaskets and Seals Market by Buyers
Gaskets and Seals Market by End-user
Gaskets and Seals Market – Dynamics
With top manufacturing centers in Asia such as India and China now capable of investing in major infrastructure development, high-tech majors in sectors such as automotive, aerospace, electronics, and medical devices are planning to further move up the value chain in the gaskets and seals market in the coming years. One of the major enablers is increased investment inflows into these economies driven by the high consumption and manufacturing potential. Driven by the need to attain a more productive job market amidst a fast disappearing labor cost advantage, these countries are now leading the shift toward high-tech manufacturing that was once dominated by their regional counterparts, such as Japan and South Korea.
Key Drivers and Trends fueling Market Growth:
Gaskets and Seals Market – Geography
The abundant availability of raw materials and technologies are key driving factors for gaskets and seals in APAC. China remains the leader in the market owing to the robust production of steel and polymer resins. Although the impact of the US-China trade war is significant in the APAC region, domestic demand sustained and offset this impact to a certain extent. China is a major hub in manufacturing for end-use markets such as electronics, automotive, aerospace, and industrial machinery. Demand has been steady over the years, and even with the COVID-19 outbreak, China was able to contain the spread and its impact on the market in focus.
Gaskets and Seals Market by Geography
Major Vendors
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