High pressure seals Market 2020 | Major players- Parker Hannifin Corp (U.S.), DowDuPont Inc. (U.S.), American High Performance Seals (U.S.), PERFORMANCE SEALING INC (U.S.), France Joint (France), FP Paris (France), Trelleborg Sealing Solutions (Sweden), K

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The major players operating the global high pressure seals market are Parker Hannifin Corp (U.S.), DowDuPont Inc. (U.S.), American High Performance Seals (U.S.), PERFORMANCE SEALING INC (U.S.), France Joint (France), FP Paris (France), Trelleborg Sealing Solutions (Sweden), Kalsi Engineering Inc. (U.S.), Bal Seal Engineering Inc. (U.S.), Garlock Sealing Technologies LLC (U.S.), John Crane (U.S.), EagleBurgmann Germany GmbH & Co Kg (Germany), Flowserve Corporation (U.S.), James Walker (UK), and Gallagher Fluid Seals Inc. (U.S.).

Market Synopsis

The global high-pressure seals market is estimated to expand at a significant CAGR during the forecast period (2018-2023) owing to the increasing demand for fuel and energy, asserts Market Research Future (MRFR). High-pressure seals are mechanical gadgets which are used to connect high-pressure frameworks in order to avoid spilling and guarantee smooth flow along with better security.
The seals are made of industrial grade rubber, metal, or a combination of both the materials and are equipped with anti-compressibility properties, anti-chemical characteristics, and are resistant to weather, water, heat, and abrasion. Such seals are extensively used in compressors, tube couplings, pumps, valves, agitators, and ducts and pipes carrying gases and liquids.

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Market Boosters and Main Challenges

The high-pressure seals market is showcasing an opulent growth, backed by the growing demand from the chemical & petrochemicals industry in Asia Pacific. The rapid expansion of the power generation industry, particularly in the developing nations has done wonders for the overall market.
Conversely, the shifting focus towards renewable energy could oppose the growth of the high-pressure seals market in the forthcoming years. But on the bright side, with the rise in opportunities within the establishment of nuclear power generation plants, the market is slated to be on a smooth growth trajectory during the appraisal period.

Additionally, the increasing demand for fuel and energy combined with the rising number of petrochemical processing projects is poised to expand the size of the oil & gas industry. This factor will surely result in an increased product demand, supplemented by its growing application across various industries. These industries include food & beverage, pharmaceuticals and chemicals that involve extremely high processing temperatures as well as pressure. It is predicted that soon, end-use industries like automotive, power generation and aerospace will also be prominent revenue sources for the high- pressure seals market as the product demand in these industries is high owing to numerous advantages offered compared to conventional seals.

Regional Insight

Geographically, the high pressure seals market span across regions namely, North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.

Among all the regions, Asia Pacific held the largest market share in 2017 and is anticipated to maintain its dominance during the assessment period due to high demand from the end-use industries such as chemicals, power generation, oil & gas, pharmaceuticals, food & beverage, and automobile.

North America was considered to be the second-largest region in 2017 and is anticipated to register a high growth rate owing to the increasing demand from end-use industries like oil & gas, food & beverage, pharmaceuticals, aerospace, and chemicals.

The European region is considered to register a considerable growth rate during the assessment period due to the growing demand from food & beverage, pharmaceuticals, chemicals, automotive, and oil & gas industries in this region.

The Middle East and Africa are anticipated to register a healthy growth owing to the extensive use of high-pressure seals in the growing downstream oil and gas industry. On the other hand, Latin America is presumed to register a sluggish growth owing to the poor economic stability in this region.

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Global High Pressure Seals Market: Segmental Analysis

The global high pressure seals market has been segmented by material, application, end-use industry, and region.

On the basis of the Material, the global high pressure seals market has been segmented into metal, rubber, rubber-metal combination, and others. The rubber segment has been further classified as polyacrylate (ACM), ethylene acrylate rubber (AEM), polychloroprene (CR), thermoplastic polyurethane (TPU), hydrogenated nitrile butadiene rubber (HBR), nitrile butadiene rubber (NBR), fluorocarbon-based synthetic rubber, ethylene propylene diene monomer (EPDM), vinyl methyl silicon rubber (VMQ), and others.

On the basis of Application, the global high pressure seals market has been segmented into pumps, agitators, valves, compressors, tube couplings, pipes and ducts, and others.

On the basis of End-Use Industry, the global high pressure seals market has been segmented into oil and gas, aerospace, automotive, power generation, chemicals, pharmaceuticals, food and beverage, and others. The oil and gas industry holds a dominant 37% share in the global high pressure seals market and is likely to remain the leading consumer over the forecast period.

Industry News

August 28, 2018: Trelleborg Sealing Solutions has recently announced the launch of a new metal end cap seal, engineered for casing hanger sealing environments and HTHP wellhead tubing, which combines the pressure and extrusion resistance of a metal-to-metal bonded component with the flexibility of an elastomer.

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This release was published on openPR.