Automotive Oil Seal Market Expansion to Gain Growth in Forecast Period 2021-2026 | Freudenberg, Parker Hannifin, NOK, Hutchinson, SKF, ElringKlinger, Federal Mogul, Dana, Trelleborg, Timken, Saint Gobain, NAK

The global Automotive Oil Seal market size is projected to grow in the historic period resulted from economic growth in emerging markets, the rise in awareness of the benefits and developed nations towards Automotive Oil Seal costs and increasing production and growing capacity in Chemical industry, and healthy growth of pharmaceutical and food & beverage industry in developing countries, are supporting the growth of the Automotive Oil Seal market.

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Oil seals are used to protect shafts and bearings from ingress of dirt and foreign matter and egress of oil or grease. An oil seal generally consists of an outer circular metal part and an inner flexible member that does the actual sealing and is bonded to the metal part by chemical adhesive agents.

The function of the oil seal is to stop whatever fluid is inside from leaking out the clearance between the shaft and housing. The seal may also be used to prevent outside materials, such as dirt, from moving in through the clearance.

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Pandemic impact on the Global Automotive Oil Seal Market:

The Automotive Oil Seal industry experienced decline in sector during the COVID-19 pandemic. This is attributed to the sharp decrease in chemical, pharmaceutical, automotive, and industrial sectors.

Manufacturing companies has prolonged closure of all its operations at its workplaces and manufacturing areas, until reopening instructions received from the government authorities.

In addition, due to reduction in labours in light of social distancing norms amid the COVID-19 pandemic, the Automotive Oil Seal industry witnessed significant decrease in the production.

At the end of 2019, COVID-19 began to erupt in China, Due to the huge decrease of global economy; we forecast the growth rate of global economy will show a decrease of about 4%, due to this reason, Automotive Oil Seal market size in 2020 will be lower than in previous years.

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Automotive Oil Seal Market Players:

Freudenberg
Parker Hannifin
NOK
Hutchinson
SKF
ElringKlinger
Federal Mogul
Dana
Trelleborg
Timken
Saint Gobain
NAK
Zhongding Group
Star Group
DUKE Seals
Fenghang Rubber
TKS Sealing
OUFO Seal
HilyWill

Product Type Segmentation:

HNBR/NBR Oil Seal
ACM/AEM Oil Seal
FKM/FPM Oil Seal
PTFE Oil Seal

Industry Segmentation:

Passenger Vehicle
Commercial Vehicle

Segmentation by Regions:

The research report includes a detailed study of regions of North America, Europe, China and Japan. The report has been given after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, sales, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2021 to 2026.

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Top Industry News:

Freudenberg Performance Materials Apparel plans competence centers in Europe on 22 January, 2021 -- Freudenberg Performance Materials Apparel produces interlinings for all segments of the apparel industry. At present, the company manufactures interlinings for the European mass market at its site in Weinheim, Germany, while highquality canvas interlinings for the European luxury market are made at the site in Sant´Omero, southern Italy. As a result of massive market changes, the company is planning to concentrate on manufacturing base materials for interlinings in Weinheim. Base material finishing and coating is to be bundled at Sant´Omero. For this purpose, two lines are to be relocated from Weinheim to Sant´Omero. It is planned to conclude this measure by the end of 2022. In Weinheim, the jobs of an estimated 176 employees would be affected by the time all planned measures have been completed.

The middle price segment of the mass market has been particularly hard hit in recent years. More and more consumers are following the trend towards casual wear in many areas of life. Generally speaking, casual garments only require very few interlinings, or none at all. The global pandemic has dramatically accelerated this trend. Suits are worn to work in the office, but loose clothing is the favorite for working from home. Moreover, the apparel industry in general has seen a sharp fall in demand as a result of the pandemic, and recovery is likely to take quite a few years.

Even though the apparel industry has been moving out of Germany and Europe for many years, Freudenberg Performance Materials Apparel has always sought to strengthen the production location in Weinheim – out of a sense of loyalty to the birthplace of Freudenberg’s nonwoven. Time and again, the company has launched initiatives designed to successfully run the core business in interlinings for the mass market middle and lower price segments from Weinheim. However, it has not been possible to completely offset the massive market changes. Consequently, interlining production capacities in Weinheim have not been fully utilized for several years. The pandemic has severely exacerbated this situation: In 2020 alone, Freudenberg Performance Materials Apparel reported a clear double-digit decrease in interlining production volumes at the Weinheim site.

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