Rubber Gaskets and Seals Market Industry, Development, Segmentation, Application, Future Forecast a
August 3, 2023 ⚊ 1 Min read ⚊ Views 41 ⚊ BUSINESS
Rubber Gaskets and Seals Market Segmentation By Application, Region, Gross Margin and Forecast From 2023-2030
The global gaskets and seals market size was estimated at USD 56.93 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.1% over the forecast period.
The use of advanced materials in manufacturing gaskets and seals for critical applications including aircraft manufacturing, medical equipment, and chemical processing is expected to drive the market growth over the forecast period. The global gaskets and seals market industry has experienced limited growth as a consequence of the economic recession caused by the COVID-19 crisis, which has resulted in low investor confidence and a decline in industrial activities.
