Abstract
US demand will grow 2.7% annually through 2012
Through 2012, the US market for gaskets and seals is expected to expand 2.7
percent per year (including price increases) to $8.7 billion, an improvement
over sales performance during the 1997-2007 period as a whole. Demand will be
fueled by a rebound in motor vehicle production, as well as by solid increases
in machinery shipments and capital spending. Rising demand for more expensive
sealing products made from advanced materials will also benefit gasket and
seal manufacturers. As is often the case, however, increased use of better
performing products will have a mixed effect over time, as initial value gains
will tend to be offset by longer useful lives, decreasing aftermarket sales.
Expanded graphite gaskets, plastic gaskets and body seals will post the most
rapid sales increases among individual products. Expanded graphite and plastic
gaskets will continue to supplant more traditional gasketing material because
of their improved performance characteristics, and both product types will
benefit from an improved motor vehicle industry outlook. Body seal demand will
also be spurred by a rebound in motor vehicle production, as well as by
healthy increases in aerospace equipment and construction machinery shipments.
Motor vehicle, machinery markets to offer strongest growth opportunities
Aerospace demand for gaskets and seals is forecast to grow the most rapidly of
any major market through 2012. Growth will be driven by increased spending on
military aircraft due to the ongoing war on terror and from rising civil
aircraft production levels. Based on their much larger size, the motor vehicle
and machinery markets will provide greater sales opportunities for gasket and
seal makers than the faster growing aerospace equipment market. Increases in
motor vehicle production, as well as in the number of motor vehicles in use,
will support associated gasket and seal sales advances. A move toward the use
of higher-end sealing products in the motor vehicle market will also
contribute to future value gains. Continued growth in capital spending and a
large aftermarket created by harsh operating environments will bolster
machinery gasket and seal demand.
Original equipment manufacturing (OEM) applications account for nearly
two-thirds of all gasket and seal demand. However, this ratio varies widely on
an industry-by-industry basis. In both aerospace and machinery applications,
aftermarket demand was larger than its OEM counterpart in 2007. In contrast,
OEM demand made up just 28 percent of all electric and electronic product
gasket and seal demand in the same year.
Study coverage
This new Freedonia industry study, Gaskets & Seals. It presents historical
supply and demand data (1997, 2002 and 2007) plus forecasts for 2012 and 2017
by product type (seal and packing, gasket) and market. In addition, the study
considers market environment factors, evaluates company market share and
profiles 33 competitors in the US industry.
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