O Ring Market to ride on the indices of innovation from 2020 to 2030
An O ring is a mechanical gasket in the shape of a torus, used to create a seal between two surfaces. It is also known as a toric joint or packing. O-rings are the most widely used seal owing to its ease of installation, low cost, simplicity and small space requirements. O-rings can be used for both dynamic and static applications.
Furthermore, an O ring can be manufactured with several materials including, Ethylene Propylene Diene Monomer (EPDM) rubber, Nitrile (NBR) rubber, Silicone rubber, Viton rubber, PTFE, Metal, etc. The material type various subjected to the application of O ring.
The prime applications of O ring includes, pneumatic, hydraulic and vacuum applications. Moreover, O ring provide several advantages over other seal types such as, flexibility, superior sealing, wide array of sizes, reusability and low manufacturing costs.
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However, some O rings also have drawbacks such as, a PTFE O ring has higher hardness and leakage rate. Also, the shorter lifespan of O rings expected to limit the market growth in the forthcoming years.
O Ring Market: Dynamics
An O ring is flexible and simple in design, which gives it an upper hand compared to other sealing techniques in the market. The O rings are used in almost all the industries including, aerospace & aviation, automotive, chemical & petrochemical, oil & gas, water & wastewater treatment, electrical & electronics, food & beverages, medical & healthcare and in other industrial applications. The growing demand of O rings in the market is primarily attributed to the growth of its end use industries.
Factors such as, flexibility, superior sealing, wide array of sizes, reusability, low manufacturing costs etc. expected to lay a strong base for the significant growth of O ring in the global market.
However, the cheaper and low quality products expected to limit the presence of key players in the O ring aftermarket. Also, a shorter life cycle of O ring is anticipated to hamper the growth of O ring market over the forecast period.
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O Ring Market: Segmentation
On the basis of material type
EPDM O Ring
Nitrile (NBR) O Ring
PTFE O Ring
Silicone O Ring
Viton O Ring
Metal O Ring
Others (Neoprene O ring, etc.)
On the basis of application
On the basis of end use industry
Aerospace & Aviation
Chemical & Petrochemical
Oil & Gas
Water & Wastewater Treatment
Electrical & Electronics
Food & Beverages
Medical & Healthcare
O Ring Market: Regional Outlook
Asia Pacific region is projected to register prominent growth in the O ring market owing to significantly growing end use industries in the region. Emerging economies in the region like, China, India, etc. estimated to create numerous growth opportunities for O rings in the regional market. Furthermore, growing aerospace and automotive industry in the Europe region expected to create demand for new O ring in the market over the forecast period.
North America is anticipated to register significant growth in the O ring market owing to growing end use industries in the region. Latin America and Middle East & Africa regions estimated to register uptick in growth of O ring market over the forecast period.
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