Market for Gasket, Packing, And Sealing Device in the United States
Market Overview
The U.S. market for gasket, packing, and sealing device totaled $
in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Gasket, packing, and sealing device consumption peaked in and is expected to retain growth in the near future.
In value terms, gasket, packing, and sealing device production fell to $ in . The total output value increased at an average annual rate of +% over the period from 2013 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in when the production volume increased by % against the previous year. As a result, production reached the peak level of $, and then declined in the following year.
in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Gasket, packing, and sealing device consumption peaked in and is expected to retain growth in the near future.In value terms, gasket, packing, and sealing device production fell to $
in . The total output value increased at an average annual rate of +% over the period from 2013 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in when the production volume increased by % against the previous year. As a result, production reached the peak level of $, and then declined in the following year.Consumption
In , consumption of gasket, packing, and sealing device increased by % to tons, rising for the sixth year in a row after two years of decline. The total consumption volume increased at an average annual rate of +% from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, consumption reached the maximum volume in and is likely to continue growth in the near future.
The value of the market for gasket, packing, and sealing device in the United States expanded modestly to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in and is expected to retain growth in the immediate term.
, consumption of gasket, packing, and sealing device increased by % to tons, rising for the sixth year in a row after two years of decline. The total consumption volume increased at an average annual rate of +% from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, consumption reached the maximum volume in and is likely to continue growth in the near future.The value of the market for gasket, packing, and sealing device in the United States expanded modestly to $
in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2013 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in and is expected to retain growth in the immediate term.Market Forecast
Driven by increasing demand for gasket, packing, and sealing device in the United States, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Trade Balance
The United States remains a net importer of gasket, packing, and sealing device; in physical and value terms, imports consistently exceeded exports from 2013 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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