Press release
High Pressure Seal Market Forecast Report by Future Market Insights Offers Key Insights( 2016-2026)
Global High Pressure Seal Market: Drivers and Restraints
The prime factor driving growth in the global high pressure seal market is the reviving oil and gas industry globally, with gradually rising crude prices, new exploration and drilling activities are anticipated, thus fuelling more demand for high pressure seals, which are used extensively across the entire production chain of petroleum products. Moreover, growing pharmaceutical and manufacturing industry, is another prime factor driving the demand for high pressure seals. Increasing demand for automotive, amid rising disposable income and improving living standards, is also fuelling more demand for high pressure seals, as they act as an integral part of manufacturing facilities of most automotive components. However, rising safety norms across all industries and increase attention towards R&D by seal manufacturers are driving replacements of existing high pressure seals and thus, fuelling more revenues to the global high pressure seal market. However, high capital and operating cost of most high pressure seals is the prime restraint to the growth of high pressure seal market.
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Global High Pressure Seal Market: Segmentation
On the basis of material
Metal
Thermoplastic polyurethane (TPU)
Hydrogenated nitrile butadiene rubber (HBR)
Fluorocarbon-based synthetic rubber
Ethylene propylene dyne terpolymer (EPDM)
On the basis of end use industry,
Oil &Gas
Chemicals
Automotive
Mining
Aerospace
Power Generation
Healthcare
Others (Manufacturing, etc.)
Global High Pressure Seal Market: Region Wise Outlook
The global High Pressure Seal market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The APEJ region is projected to be the largest market for High Pressure Seal demand, and is anticipated to remain its dominance throughout the forecast period. This can be directly attributed to rapidly growing automotive and oil & gas sectors in China. Moreover, the reviving manufacturing and oil & gas industry of Europe and North America, amid new exploration activities in North Sea and Gulf of Mexico coupled with the shale gas boom is also generating new demand arenas, and translating into high demand for high pressure seals from these markets. North America is anticipated to be the second largest market for high pressure seals, closely followed by Western and Eastern Europe. MEA also accounts for a decent demand for high pressure seals particularly for the oil & gas industry, amid reviving midstream and downstream sectors in these regions.
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Global High Pressure Seal Market: Key Players
AES Corporation
Smiths Group Plc.
Garlock Sealing Technologies LLC
AB SKF
James Walker & Co
Parker Hannifin Corporation
EagleBurgmann Germany GmbH & Co. KG
Flowserve Corp.
EI du Pont de Nemours & Co.
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