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Asia Pacific Encapsulated Gaskets and Seals Market Forecast to 2030
Asia Pacific Encapsulated Gaskets and Seals Market Forecast to 2030 – Regional Analysis – by Material (Silicon, Neoprene, Viton, Teflon, and Others) and End Use (Oil and Gas, Food, Pharmaceutical, Chemical, Automotive, and Others)
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- Description
- Toplines
- Reasons for Buying
- Table of Contents
- List of Tables
- LIst of Figures
- List of Companies
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Description
Adoption of Fluorinated Ethylene Propylene Encapsulated Gaskets for Cryogenic Applications Boosts Asia Pacific Encapsulated Gaskets and Seals Market
Gaskets flexible at low temperatures ensure optimum sealing performance. The performance of o-rings intended for cryogenic applications is tested by standards to measure physical properties and material performance. A few tests intended for cryogenic application are brittleness (ASTM D2137), temperature recall (ASTM D1329), and compression kit (ASTM D395). Advancements in polymer engineering have led to the development of efficient encapsulated gaskets and seals with chemical resistance, mechanical properties, and pressure resistance at low-temperature operations.
FEP-encapsulated o-rings with steel flat round ribbon spring core is a promising approach for cryogenic applications. An FEP encapsulated gasket can handle low temperatures up to −420°F and pressures up to 3000 psi, as well as exposure to cryogenic media such as liquid oxygen, liquid nitrogen, and hydrogen. These encapsulated o-rings can be manufactured in both metric and US cross-sections with a wide range of diameters. Cryogenic o-rings are commonly used in the aerospace industry for tanks and rocket valve applications. They prevent the leakage of the gas mixture, which is responsible for propelling the rocket. In the oil & gas industry, gaskets are used in the transfer of liquefied natural gas and liquefied petroleum gas. Further, it is used in magnetic resonance imaging, cryogenic pumps, and radio astronomy, as well as in the production of special gases and aviation technologies. Thus, the adoption of FEP-encapsulated gaskets for cryogenic applications is expected to create lucrative opportunities in the encapsulated gaskets and seals market.
Asia Pacific Encapsulated Gaskets and Seals Market Overview
The encapsulated gaskets and seals market in Asia Pacific has been propelled by the burgeoning manufacturing sector, increasing industrialization, and a rising emphasis on advanced sealing solutions. As countries in Asia Pacific continue to develop their infrastructures, the demand for reliable sealing components, such as encapsulated gaskets and seals, has surged across diverse applications, including automotive, electronics, and chemical processing. The Asia Pacific market is very dynamic, with various manufacturers introducing innovative encapsulated gaskets and seal solutions to address specific industry challenges. For instance, in response to the automotive sector’s demand for high-performance and durable sealing solutions, several companies have unveiled encapsulated gaskets and seals designed to withstand extreme temperatures and aggressive chemicals and ensure long-term reliability in critical automotive components. According to a report published by the China Passenger Car Association, in 2022, Tesla Inc delivered 83,135 made-in-China electric vehicles, indicating growth in sales of electric vehicles compared to 2021. According to the International Organization of Motor Vehicle Manufacturers (OICA), Asia-Oceania’s vehicle production increased from 46.8 million in 2021 to 50 million in 2022.
The electronics industry in Asia Pacific has witnessed an uptick in the adoption of encapsulated gaskets and seals to enhance the protection of electronic devices against environmental factors. As per the study by the Semiconductor Industry Association, ~75% of global semiconductor capacity is based in East Asia. Semiconductor companies will benefit from a cost advantage of 25–50% with the start of manufacturing activities in the region. Additionally, according to the Association of Southeast Asian Nations, the electronics sector holds 20–50% of the total value of exports in Asia. As the region continues to evolve as a global manufacturing hub, the encapsulated gaskets and seals market is anticipated to expand further, with key players heavily investing in research and development to meet the evolving demands of industries in Asia Pacific. For instance, in 2020, Freudenberg Sealing Technologies, a leading manufacturer of sealing solutions, partnered with NOK Corporation, a Japanese sealing products manufacturer, to expand its market presence and product portfolio in Asia.
Asia Pacific Encapsulated Gaskets and Seals Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Encapsulated Gaskets and Seals Market Segmentation
The Asia Pacific encapsulated gaskets and seals market is categorized into material, end use, and country.
Based on material, the Asia Pacific encapsulated gaskets and seals market is segmented into silicon, neoprene, Viton, Teflon, and others. The Viton segment held the largest market share in 2022.
Based on end use, the Asia Pacific encapsulated gaskets and seals market is segmented into oil and gas, food, pharmaceutical, chemical, automotive, and others. The oil and gas segment held the largest market share in 2022.
By country, the Asia Pacific encapsulated gaskets and seals market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific encapsulated gaskets and seals market share in 2022.
AS Aston Seals SPA, Gasco Inc, Polymax Ltd, Trelleborg AB, VH Polymers, and Vulcan Engineering Ltd are some of the leading companies operating in the Asia Pacific encapsulated gaskets and seals market.
Summary Info
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According toThe Research Team’ research, the Asia Pacific encapsulated gaskets and seals market was valued at US$ 113.29 million in 2022 and is projected to reach US$ 200.80 million by 2030, registering a CAGR of 7.4% from 2022 to 2030. Soaring growth of the oil & gas industry and increasing demand from chemical industry are among the critical factors attributed to drive the Asia Pacific encapsulated gaskets and seals market growth.
The chemicals industry stands as a cornerstone of industrial development, encompassing a vast array of processes involved in the production, transformation, and handling of various chemicals. As a critical sector with diverse applications, the chemical industry places stringent demand on equipment and components to ensure safety, efficiency, and regulatory compliance. Encapsulated gaskets and seals play a vital role in meeting these challenges, serving as essential components that contribute to the integrity and reliability of chemical processing equipment. In the chemical industry, where precision and containment are paramount, the choice of sealing solutions is pivotal. Encapsulated gaskets and seals provide a robust defense against the corrosive and aggressive nature of many chemicals involved in industrial processes.
According to the India Brand Equity Foundation, the chemical industry in India stood at US$ 220 billion in 2022. It is anticipated to reach US$ 300 billion by 2025 and US$ 1 trillion by 2040. According to the American Chemistry Council (ACC), global chemical production increased by 2.1% in November 2023, with countries in Asia Pacific registering positive growth. As the chemical industry continues to expand in developed and developing economies, there is an increasing need for reliable sealing solutions that can withstand the harsh and corrosive nature of many chemicals. Encapsulated gaskets and seals provide an effective barrier, preventing the escape of hazardous materials and ensuring the safety of both the processes and personnel. The chemical resistance of materials such as PTFE, commonly used in encapsulated seals, makes them particularly suitable for applications in this demanding industry. Moreover, the chemical industry strongly emphasizes regulatory compliance and adherence to safety standards. Encapsulated gaskets and seals contribute to meeting these stringent requirements and offer benefits such as reduced maintenance needs and increased equipment reliability. This becomes especially crucial in preventing costly downtime and minimizing the risk of environmental contamination or accidents. Thus, the chemical industry relies heavily on encapsulated gaskets and seals to ensure the integrity and safety of its processes. The symbiotic relationship between the chemical industry and the manufacturers of sealing solutions underscores the pivotal role of encapsulated gaskets and seals in supporting the growth, efficiency, and sustainability of this critical sector.
On the contrary, availability of alternative sealing solutions hampers the growth of Asia Pacific encapsulated gaskets and seals market.
Based on material, the Asia Pacific encapsulated gaskets and seals market is segmented into silicon, neoprene, Viton, Teflon, and others. The Viton segment held 40.1% market share in 2022, amassing US$ 45.43 million. It is projected to garner US$ 82.06 million by 2030 to register 7.7% CAGR during 2022-2030.
Based on end use, the Asia Pacific encapsulated gaskets and seals market is segmented into oil and gas, food, pharmaceutical, chemical, automotive, and others. The oil and gas segment held 33.6% market share in 2022, amassing US$ 38.08 million. It is projected to garner US$ 71.05 million by 2030 to register 8.1% CAGR during 2022-2030.
Based on country, the Asia Pacific encapsulated gaskets and seals market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 40.1% share of Asia Pacific encapsulated gaskets and seals market in 2022. It was assessed at US$ 45.40 million in 2022 and is likely to hit US$ 84.42 million by 2030, registering a CAGR of 8.1% during 2022-2030.
Key players operating in the Asia Pacific encapsulated gaskets and seals market are AS Aston Seals SPA, Gasco Inc, Polymax Ltd, Trelleborg AB, VH Polymers, and Vulcan Engineering Ltd, among others.
In December 2023, Trelleborg agreed to acquire MNE Group, consisting of Materials Nano Engineering and Materials Nano Solution, through its business area Trelleborg Sealing Solutions. The acquisition is expected to be completed in Q1 2024. MNE Group will provide Trelleborg with established customer contacts with the world’s largest semiconductor manufacturers and a base in South Korea for further growth in other Asian markets. The acquisition is expected to generate around SEK 300 M in revenue in 2023, with an EBITA margin in line with Trelleborg Sealing Solutions.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific encapsulated gaskets and seals market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific encapsulated gaskets and seals market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Encapsulated Gaskets and Seals Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Threat of Substitutes
4.2.3 Bargaining Power of Buyers
4.2.4 Bargaining Power of Suppliers
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors or Suppliers
4.3.4 End-use Industry
4.3.5 List of Vendors in the Value Chain
5. Asia Pacific Encapsulated Gaskets and Seals Market – Key Market Dynamics
5.1.1 Soaring Growth of Oil & Gas Industry
5.1.2 Increasing Demand from Chemical Industry
5.2 Market Restraints
5.2.1 Availability of Alternative Sealing Solutions
5.3 Market Opportunities
5.3.1 Adoption of Fluorinated Ethylene Propylene Encapsulated Gaskets for Cryogenic Applications
5.4 Future Trends
5.4.1 Advancements in Manufacturing Technologies
5.5 Impact of Drivers and Restraints:
6. Encapsulated Gaskets and Seals Market – Asia Pacific Market Analysis
6.1 Asia Pacific Encapsulated Gaskets and Seals Market Revenue (US$ Million), 2020-2030
6.2 Asia Pacific Encapsulated Gaskets and Seals Market Forecast Analysis
7. Asia Pacific Encapsulated Gaskets and Seals Market Analysis – by Material
7.1 Silicon
7.1.1 Overview
7.1.2 Silicon: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Neoprene
7.2.1 Overview
7.2.2 Neoprene: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Viton
7.3.1 Overview
7.3.2 Viton: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Teflon
7.4.1 Overview
7.4.2 Teflon: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Encapsulated Gaskets and Seals Market Analysis – by End Use
8.1 Oil and Gas
8.1.1 Overview
8.1.2 Oil and Gas: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Food
8.2.1 Overview
8.2.2 Food: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Pharmaceutical
8.3.1 Overview
8.3.2 Pharmaceutical: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Chemical
8.4.1 Overview
8.4.2 Chemical: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Automotive
8.5.1 Overview
8.5.2 Automotive: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Encapsulated Gaskets and Seals Market – Country Analysis
9.1 Asia Pacific
9.1.1 Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast Analysis – by Country
9.1.1.1 Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast Analysis – by Country
9.1.1.2 Australia: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.1 Australia: Encapsulated Gaskets and Seals Market Breakdown, by Material
9.1.1.2.2 Australia: Encapsulated Gaskets and Seals Market Breakdown, by End Use
9.1.1.3 China: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.3.1 China: Encapsulated Gaskets and Seals Market Breakdown, by Material
9.1.1.3.2 China: Encapsulated Gaskets and Seals Market Breakdown, by End Use
9.1.1.4 India: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.1 India: Encapsulated Gaskets and Seals Market Breakdown, by Material
9.1.1.4.2 India: Encapsulated Gaskets and Seals Market Breakdown, by End Use
9.1.1.5 Japan: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.5.1 Japan: Encapsulated Gaskets and Seals Market Breakdown, by Material
9.1.1.5.2 Japan: Encapsulated Gaskets and Seals Market Breakdown, by End Use
9.1.1.6 South Korea: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.6.1 South Korea: Encapsulated Gaskets and Seals Market Breakdown, by Material
9.1.1.6.2 South Korea: Encapsulated Gaskets and Seals Market Breakdown, by End Use
9.1.1.7 Rest of Asia Pacific: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.7.1 Rest of Asia Pacific: Encapsulated Gaskets and Seals Market Breakdown, by Material
9.1.1.7.2 Rest of Asia Pacific: Encapsulated Gaskets and Seals Market Breakdown, by End Use
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Company Profiles
11.1 Trelleborg AB
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Gasco Inc
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 VH Polymers
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 AS Aston Seals SPA
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Polymax Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Vulcan Engineering Ltd
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
12. Appendix
12.1 About The Research Team
Table 1. Asia Pacific Encapsulated Gaskets and Seals Market Segmentation
Table 2. List of Vendors
Table 3. Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Table 4. Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by Material
Table 5. Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by End Use
Table 6. Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by Country
Table 7. Australia: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by Material
Table 8. Australia: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by End Use
Table 9. China: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by Material
Table 10. China: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by End Use
Table 11. India: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by Material
Table 12. India: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by End Use
Table 13. Japan: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by Material
Table 14. Japan: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by End Use
Table 15. South Korea: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by Material
Table 16. South Korea: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by End Use
Table 17. Rest of Asia Pacific: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by Material
Table 18. Rest of Asia Pacific: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million) – by End Use
Figure 1. Asia Pacific Encapsulated Gaskets and Seals Market Segmentation, by Country
Figure 2. Encapsulated Gaskets and Seals Market – Porter’s Analysis
Figure 3. Ecosystem: Encapsulated Gaskets and Seals Market
Figure 4. Asia Pacific Encapsulated Gaskets and Seals Market – Key Market Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Asia Pacific Encapsulated Gaskets and Seals Market Revenue (US$ Million), 2020-2030
Figure 7. Asia Pacific Encapsulated Gaskets and Seals Market Share (%) – by Material (2022 and 2030)
Figure 8. Silicon: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Neoprene: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Viton: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Teflon: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Others: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Asia Pacific Encapsulated Gaskets and Seals Market Share (%) – by End Use (2022 and 2030)
Figure 14. Oil and Gas: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Food: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Pharmaceutical: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Chemical: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Automotive: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Others: Asia Pacific Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Asia Pacific Encapsulated Gaskets and Seals Market, By Key Country – Revenue (2022) (US$ Million)
Figure 21. Asia Pacific Encapsulated Gaskets and Seals Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 22. Australia: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 23. China: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 24. India: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 25. Japan: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 26. South Korea: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 27. Rest of Asia Pacific: Encapsulated Gaskets and Seals Market – Revenue and Forecast to 2030 (US$ Million)
Figure 28. Heat Map Analysis by Key Players
Figure 29. Company Positioning & Concentration
The List of Companies – Asia Pacific Encapsulated Gaskets and Seals Market
o AS Aston Seals SPA
o Gasco Inc
o Polymax Ltd
o Trelleborg AB
o VH Polymers
o Vulcan Engineering Ltd
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