At 5.8% CAGR, North America Encapsulated Gaskets and Seals Market is Projected to be Worth US$ 122.19 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America encapsulated gaskets and seals market was valued at US$ 77.74 million in 2022 and is projected to reach US$ 122.19 million by 2030, registering a CAGR of 5.8% from 2022 to 2030. Soaring growth of oil & gas industry and advancements in manufacturing technologies are among the critical factors attributed to drive the North America encapsulated gaskets and seals market growth.

Automated systems enhance efficiency, reduce production time, and minimize errors in application processes. The integration of smart sensors allows real-time monitoring of various parameters during the gasket application process. This includes monitoring material dispensing, production, and quality control, leading to improved product consistency and reliability. Precision manufacturing, machining, and molding technologies for the production of encapsulated gaskets and seals offer tight tolerances and improved dimensional accuracy. Advanced machining, such as Computer Numerical Control (CNC), enables the creation of intricate and complex designs. This precision in manufacturing is essential for producing gaskets with specific shapes and profiles tailored to the requirements of diverse industrial applications.

Nano materials, robotics & automation, and advanced forming are some of the novel manufacturing technologies with a promising scope in the development of encapsulated gaskets and seals market. Precision manufacturing facilities are designed to have quick changeover capabilities, allowing for the rapid transition between gasket specifications. Integrating technologies such as CNC systems, sensors, and high-precision actuators offers exceptional accuracy and precision. Thus, advancements in manufacturing technologies are expected to expand the potential of the encapsulated gaskets and seals market.

On the contrary, availability of alternative sealing solutions hampers the growth of North America encapsulated gaskets and seals market.

Based on material, the North America encapsulated gaskets and seals market is segmented into silicon, neoprene, Viton, Teflon, and others. The Viton segment held 39.6% market share in 2022, amassing US$ 30.81 million. It is projected to garner US$ 49.49 million by 2030 to register 6.1% CAGR during 2022-2030.

Based on end use, the North America encapsulated gaskets and seals market is segmented into oil and gas, food, pharmaceutical, chemical, automotive, and others. The oil and gas segment held 33.4% market share in 2022, amassing US$ 25.95 million. It is projected to garner US$ 43.02 million by 2030 to register 6.5% CAGR during 2022-2030.

Based on country, the North America encapsulated gaskets and seals market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 68.1% share of North America encapsulated gaskets and seals market in 2022. It was assessed at US$ 52.94 million in 2022 and is likely to hit US$ 85.23 million by 2030, registering a CAGR of 6.1% during 2022-2030.

Key players operating in the North America encapsulated gaskets and seals market are AS Aston Seals SPA, Gasco Inc, Marco Rubber & Plastics LLC, MCM SPA, ROW Inc, Seal & Design Inc, Trelleborg AB, VH Polymers, and Vulcan Engineering Ltd, among others.

• In January 2023, Seal & Design acquired Chamberlin Rubber Company to offer an expanded selection of high-quality products, services, and solutions to customers across various industries. The partnership will enable consumers to benefit from both companies' complementary high-quality products and industry-leading management system standards.
  
  
• In October 2021, Trelleborg Group acquired US-based VB Seals Inc., a company specializing in polymer seal distribution for original equipment manufacturers in industries like agriculture. The acquisition will increase Trelleborg's presence in the Midwestern US. The acquisition is part of Trelleborg's strategy to strengthen its positions in attractive market segments, offering enhanced sales and service platforms in the region.

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