A key factor driving the growth of the market is the rise in adoption of seals and gaskets by the automotive industry. Seals and gaskets are used in the automotive industry to seal various parts of the automobile and assemblies that carry fluids and gases. The increasing demand for automobiles across the world will lead to an increase in demand for gaskets and seals.
This market research report on the global gasket and seals market also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the introduction of 3D printing for the manufacture of gaskets and seals as one of the key emerging trends in the global gasket and seals market:
Global gasket and seals market: Introduction of 3D printing to boost growth
The increasing complexity related to the manufacture of gaskets and seals has resulted in the need for innovation. Many players in the industry are responding to this need by producing gaskets and seals using the 3D printing technology. For instance, in 2017, Stratasys, a company engaged in 3D printing introduced a product called Agilus 30, which is a polyjet rubber-like material that can be used to manufacture gaskets and seals using 3D printing.
“3D printing technology facilitates enhanced capabilities for producing customized gaskets and seals. This is leading to the increasing adoption of this technology for the manufacture of gaskets and seals,” says a senior analyst at Technavio for research on tools and components.
Global gasket and seals market: Segmentation analysis
This market research report segments the global gasket and seals market by end-user (automotive, industrial machinery, electrical and electronics, and others) and by geographical region (APAC, EMEA, and the Americas).
In 2017, the automotive segment accounted for the largest share of the market with a market share of 49%. The market share of this segment is expected to witness the maximum growth over the forecast period while all the remaining segments will witness a marginal increase or decline in their market shares.
APAC held the highest share of the global gasket and seals market accounting for more than 38% share during the forecast period followed by the Americas and EMEA respectively. The high demand in APAC can be attributed to the rapid growth of the key end-user industries in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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