Global Polymer Seals Market To Witness Steady Growth, Expanding At A CAGR Of 5.1% From 2022 To 2032

According to a recent report by Future Market Insights (FMI), the global Polymer Seals Market achieved an estimated valuation of US$ 11.3 billion in 2022. The report predicts a steady Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2032, propelling an upward trajectory in market expansion. The versatile utility of polymer seals spans across various industries, including oil & gas, aviation, aerospace, and automobile sectors on a global scale.

In the dynamic landscape of these industries, polymer seals stand out by offering a gamut of advantages. Notably, their resistance to high temperatures and corrosion emerges as a pivotal attribute, aligning seamlessly with the critical requirements of these sectors. The anticipated surge in demand for polymer seals between 2022 and 2032 is intrinsically linked to these advantageous properties, further magnifying their significance.

Future Market Insights (FMI) projects a pronounced acceleration across all industries that employ polymer seals, heralding a promising trajectory for the years ahead. This collective momentum is anticipated to reverberate through the polymer seals market, ushering in a period of robust expansion and underscored by the enduring appeal of their unique attributes.

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Increasing defense budgets of governments are also expected in the coming years, which should generate further demand for polymer seals. For instance, the governments of India and China have been observed to increase their spending on defense in recent years, particularly for upgrading their respective air forces by investing in latest military-grade air crafts and fighter jets. Owing to the tense geopolitical climate in the region, the spending is set to rise in the near future and result in accelerating polymer seal sales.

FMI also predicts the emergence of certain market restraints from 2022 to 2032. These restraints are likely to stem from the fact that sealant production causes significant pollution. Small scale consumers are also poised to choose polymer seal substitutes due to the high expenses associated with polymer seals.

- Key Takeaways from the Polymer Seals Market Study

By material type, the polyurethane (PU) segment is anticipated to witness considerable demand growth at 4.9% CAGR from 2022 to 2032.
By product type, the sales of hydraulic and pneumatic seals are projected to expand at a CAGR of 5.6%.
By region, Europe is anticipated to witness substantial growth in the polymer seals market due to lucrative markets in Germany, Italy, and the United Kingdom.
India and China markets are anticipated to emerge as prominent polymer seals markets in Asia and register 6.9% and 6.0% CAGR, respectively.
By end use, transportation equipment was estimated to hold a prominent volume share of 30.4% in 2022.

- Who is Winning?

Key players in the Polymer Seals include Saint-Gobain, ERIKS Group, SKF AB, Precision Polymer Engineering/IDEX, Trelleborg AB, Bal Seal Engineering, Parker Hannifin Corporation, Advanced Seals & Gaskets Ltd., Greene Tweed, TRP Polymer Solutions Ltd., Specialised Polymer Engineering Ltd., SHS Dichtungen GmbH, A.W. Chesterton Company, Carco Precision Rubber Products Spa, Novotema Spa

To gain a competitive advantage in the industry, key manufacturers are developing innovative polymer seal products. Market players are also heavily investing in expansion, mergers, acquisitions, and strategic partnerships to expand their global footprints.

- Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global polymer seals market, presenting historical demand data (2017 to 2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the polymer seals market based on material type (polyurethane (PU), acrylonitrile-butadiene-rubber (NBR), fluoro-rubber (FKM), polytetrafluoroethylene (PTFE)), product type (hydraulic and pneumatic seals, rotary seals, spring energised seals), end use (transportation equipment, industrial machinery and equipment, electronic apparatus and appliances, healthcare, oil and gas extraction, construction infrastructure and utilities, MRO, other manufacturing and assembly), and distribution channel (OEM, aftermarket) across seven key regions.

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- Global Polymer Seals Market by Category

By Material Type:
Polyurethane (PU)
Acrylonitrile-butadiene-rubber (NBR)
Fluoro-rubber (FKM)
Polytetrafluoroethylene (PTFE)

By Product Type:
Hydraulic and Pneumatic seals
Rotary Seals
Spring Energized Seals

By End Use:
Transportation Equipment
Automotive and Components
Aircraft and Components
Railroad Equipment
Marine Transportation and Components
Industrial Machinery and Equipment
Electronic Apparatus and Appliances
Healthcare
Medical Devices and Component Manufacturing
Surgical Tool manufacturing
Oil and Gas Extraction
Construction Infrastructure and Utilities
MRO, Other Manufacturing, and Assembly

By Distribution Channel:
OEM
Aftermarket

By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
The Middle East and Africa

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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This release was published on openPR.