Global Gaskets and Seals Market to Reach US$30 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on the Gaskets and Seals market. World market for Gaskets and Seals is projected to reach US$30 billion by the year 2017, driven primarily by strong gains in end-use industries in developing countries. While developed economies face yet another round of economic uncertainties triggered by downgrades of sovereign debt, fears of escalating contagion in the euro zone debt crisis, political inertia in containing the crisis, strong GDP in emerging economies in Asia-Pacific, Latin America will help sustain growth in the international market.

San Jose, CA (PRWEB) February 22, 2012

As vital machine components, gasket and seals are widely utilized in diverse end-use applications ranging from automobiles, industry machinery (construction & related equipment, general purpose machinery, engines, turbines & power, HVAC & service equipment), to electrical & electronic equipment (instruments, computers, appliances, marine & rail, and aerospace), among others. Leading gasket & seals producing countries worldwide include Canada, Mexico, Japan, China and Germany. Continued and steady incremental technological improvements in mechanical strength, sealing capabilities will trigger demand among end-user industries for high performance and functional products. This demand for improved performance will continue to push manufacturers to stress on R&D to advance their product capabilities. Complex applications in defense and medical sectors will throw up manufacturing and design challenges that manufacturers will need to reckon with. The industry, over the past decade witnessed an unending string of mergers and acquisition with large conglomerates acquiring medium to small-scale players to enhance capacity expansions and complementary technologies.

Performance of key end-use industries, such as, automotive, oil & gas/process/refinery/, aerospace and defense in Europe, the United States and Japan, currently hangs in balance. The overshadowing concerns over the European debt crisis and the ensuing indiscriminate budgets cuts, Japan’s continued struggle with its deep-seated problems of high debt and deflation, and slow recovery of the US economy with its unretractable debt/deficit levels, have bifurcated market sentiments.

Amid conflicting news on the success of Europe’s band-aid strategy including the initial starving of the European markets of credit, and the subsequent reopening of global liquidity lines to bailout banks and spendthrift countries and calm the financial markets, market sentiments continue to swing between hope and concerns. While bearish market sentiments foresee an imminent slowdown in market prospects in these countries, guarded optimism prevails over the financial bailout strategies designed to restore market confidence. Germany’s relative resilience in handling the euro zone crisis is helping strengthen confidence levels. With mixed signals emanating from the unfolding drama surrounding the crisis of the euro, it still remains too early on to forecast the market’s reactive impact on demand for gasket and seals in the region. Bearish views on the market’s outlook in the immediate term, although currently not seen as likely, indicate that Europe’s debt woes can likely flatten the European automotive industry, while the oil and gas industry, which is already witnessing declines in oil demand and prices can soften demand for gasket and seals in the oil & gas/refinery industry in the region.

Font: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/02/22/prweb9217681.DTL

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About Lone Star Sealing Technologies
Lone Star Sealing Technologies was founded in 2004 to better serve the customers of Lone Star Fasteners and Walker Bolt. Our core product line consists of API Ring Joint Gaskets, Proprietary Wellhead Gaskets and Spiral Wound Gaskets. We also provide specialty cut gasket services for our OEM clients as well as general distribution for Raised Faced and Full Faced flange gaskets to ANSI B16.5 dimensions. LoneStar have a variety of high quality of gaskets and other options for fluid sealing applications built to endure, even under the toughest conditions. You can be confident that we go to every extreme to make sure that our products are built to perform. As manufactures and distributors of industrial gaskets for the oil and gas, and petrochemical industries, we know that it takes to produce quality that lasts and we continually tweak product lines in an effort to improve even the most proven gasket in the industry. In 2005 Lone Star acquired the assets of K&W Manufacturing, a Houston based API Ring Gasket producer. Established in 1964, K & W Manufacturing is an industry leader, among a few selected manufacturers in the world, approved by the American Petroleum Institute to apply the API monogram to Ring Joint Gaskets. In 2006 Lone Star acquired Grange Gaskets and Grange Precision Engineering (now Lone Star Grange) based in Leeds, England. Since 1948, Grange has been one of the United Kingdoms premier specialty gasket companies, specializing in Heat Exchange Gaskets of all types and configurations. Grange is world renowned for it's specialty clad gasket capabilities and quick service on spiral wound gaskets.

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