This study analyzes the US gasket and seal industry. It presents historical demand data (2001, 2006, 2011) and forecasts for 2016 and 2021 by type (e.g., elastomeric, fiber-based, plastic-based, expanded graphite and metallic gaskets, molded seals and packings, body seals, shaft seals, compression packings) and market (e.g., motor vehicles, machinery, electrical and electronic products, aerospace, marine and rail). The study also considers market environment factors, evaluates company market shares and profiles industry players.
US demand to rise 4.6% annually through 2016
US demand for gaskets and seals is forecast to increase at a 4.6 percent annual rate to $9.6 billion in 2016. Rebounds in construction expenditures and motor vehicle production, as well as the positive outlooks for capital spending and machinery shipments, 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.
The gasket and seal industry has become international in scope in recent years. Developing countries are expected to account for increasingly large shares of both exports from and imports to the US. For example, as China has continued to industrialize, local demand for products like gaskets and seals has increased, and domestic manufacturing capacity has also climbed. US exports of gasket and sealing products to China nearly doubled between 2006 and 2011, and US imports from China more than doubled during this span. Nevertheless, the majority of US trade will continue to be with other developed nations.
Compression packings, body seals & graphite gaskets to see best growth
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 turnaround 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.
Marine & rail market to post most rapid gains
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 operating conditions of many machinery products, and an increase in capital expenditures, which will bolster machinery output levels.
In 2011, original equipment manufacturing (OEM) applications made up over three-fifths of all gasket and seal sales, although this ratio varied on an industryby- industry basis. For instance, aftermarket demand was greater than OEM sales in the machinery market and equal to OEM demand in aerospace applications. In contrast, replacement sales of gaskets and seals in the electric and electronic products market only accounted for 28 percent of the 2011 sales total.
COMPANY PRO FILES
Profiles 34 industry competitors such as Dana, Freudenberg, Henniges Automotive, John Crane, Parker-Hannifin and SKF
This study analyzes US markets for and manufacturers’ shipments of gaskets and seals. Specific products covered are
- gaskets (both metallic and nonmetallic types)
- molded seals and packings (including O-rings, flexible seals, diaphragm seals, and other molded seals and packings)
- body seals (including those used in motor vehicles, machinery, and aerospace equipment)
- shaft seals (including rotary oil seals and mechanical seals)
- compression packings
Gaskets and seals are primarily used as components of durable equipments. Market segments covered in this study are motor vehicles, machinery, electrical and electronic products, nonautomotive transportation equipment (primarily aerospace, marine, and rail), and other markets.
Historical data (2001, 2006, and 2011) and forecasts to the years 2016 and 2021 are provided in current dollars for sales, shipments, and net imports for the market as a whole, as well as the major segments. As used in this study, the term “shipments” includes all production from US manufacturing sites that is then shipped to both US and foreign markets. The term “demand” -- used interchangeably with “market,” “sales” and “consumption” -- is defined as all shipments from US plants, plus imports minus exports. Tabular details may not add to totals due to independent rounding, and some ratios are based on unrounded numbers. In addition, major manufacturers of gaskets, seals, and related products are identified and profiled, and the key industry competitive variables are discussed. The entire report is framed within the gasket and seal industry’s economic, technological, and market environments.
Corporate sales figures and gasket and seal related sales represent estimates based on consultation with multiple sources. Macroeconomic and demographic indicators used in this study were obtained from The Freedonia Group Incorporated Consensus Forecasts dated February 2012. Due to the Bureau of Economic Analysis’ use of chain-weighted price indexes, inflationadjusted Gross Domestic Product components (2005 dollars) may not add to the total.
Information and data on gaskets and seals were obtained from a variety of primary and secondary sources, including trade associations, government publications, industry participants, online databases, and other Freedonia studies. Primary information was gathered through consultations with personnel of participating companies and other industry specialists. Secondary data and background information were obtained from various trade publications, including Machine Design, Plastics News, Rubber & Plastics News, and Rubber World. Corporate annual reports, SEC Form 10-K filings, product catalogs, and other company information were also used extensively in framing the industry and market environments and as input for market size assessments.