Newark, NJ, May 16, 2022 (GLOBE NEWSWIRE) — According to the report published by Fior Markets, the global metal gasket market is expected to grow from $2.72 billion in 2019 to $4.04 billion by 2027, with a CAGR of 5.48% over the forecast period of 2020-2027. Metal seals are used when the use of polymer and elastomer seals is not possible due to application requirements such as cryogenic conditions, high temperatures and pressures, chemical resistance, prevention of outgassing, radiation and high vacuum. Metal seals offer independent functional component optimization, which means that every discrete function, including load, springback and ductility/hardness of the outer sealing layer, can be optimized to ensure the best performance of tightness in all situations.
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With the increase in urbanization and industrialization globally, the number of machines, automobiles, manufacturing plants, and various other mechanical instruments using metal joints has increased dramatically. This scenario is expected to boost the metal gaskets market demand over the forecast period. In addition to this, the growing use of metal gaskets in the aerospace industry, further propels the growth of the market. However, the increasing use of alternative seals such as gland packings and sealless pumps may limit the market growth in the future.
The metal gaskets market has been segmented on the basis of type, application, and region. The type segment includes metal O-ring, metal E-ring and metal C-ring. The metal O-rings segment held the largest market share of 42.64% and was valued at USD 1.16 billion in 2019. Metal O-rings are a superior sealing method, these seals help improve the capability in heavy duty operations and are used in many cases where elastomers cannot. ensure sufficient reliability for certain applications. The application segment includes military, oil and gas, power generation, aerospace and others. The oil and gas segment held the largest market share of 32.88% in 2019, as oil and gas uses various metal seals to improve the operational efficiency of machinery. In addition to this, the aerospace sector is expected to grow at a CAGR of 5.62% during the forecast period. This is mainly due to the increasing use of metal seals in various aerospace applications such as engine system, airframe, flight controls and hydraulic system and landing gear system. The market has been divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia-Pacific holds the largest market share in terms of consumption and production. China accounted for the major market share globally and regionally and was valued at USD 713.54 million in 2019.
The major companies in the global metal seals market are Parker-Hannifin Corporation, Garlock Sealing Technologies, VAT Vakuumventile AG, Jetseal, Inc., American Seal & Engineering Co., Inc., Calvo Sealing, SL, CPI PRODYSOL, High Tech Metal Seals . (HTMS) and APS Technology, Inc., among others.
In October 2018, Jetseal Inc. and Trelleborg Sealing Solutions announced the distribution agreement for advanced special metal seals for the aerospace sector in the European market.
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About the report:
The global Metal Gaskets market is analyzed on the basis of value (USD Million). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.
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