Press release
High Pressure Seals Market Size by Material (Metal, TPU, HNBR, Fluoroelastomer, EPDM), End-Use Industry (Oil & Gas, Chemical & Petrochemical, Aerospace & Defense, Power Generation, Manufacturing, Mining, Pharmaceutical) - Industry Forecast to 2024
Acumen Research and Consulting
High pressure seals are leakage control equipment that are deployed on rotating equipment such as mixer and pumps to limit the leakage of gases and liquid from escaping into the environment. High pressure seals are mostly made up of metal or alloys, Apart from these materials, other materials such as plastics, and elastomer are also used in manufacturing high pressure seals. High pressure seals are designed to provide long service life and low friction for extreme pressure applications over a wide temperature ranges. These type of seals are commonly used in helical shafts in heavy industries, working rolls for hot and cold rolling mills, marine shafts, machinery for paper, pumps, and gearboxes.
Market Dynamics
The growth of high pressure seals market is attributed to the growing demand from chemical & petrochemicals industry in the Asia-Pacific and expansion of power generation industry, especially in emerging economies. The major restraining factor in the high pressure seals market is the shifting focus towards renewable or alternate energy. Power generation is the major end-use industry for high pressure seals and if the demand for alternative energy picks up, it will affect the demand for high pressure seals in the coming period. In addition, gland packing and seal less pumps can also hinder the market growth. Further, the major opportunities lie in establishment of nuclear power generation plants. International Atomic Energy Agency projected that nuclear electricity generation may grow from 15% to 45% by 2020 and 25% to 95% by 2030. However, degrading quality of polymer and elastomeric seals coupled with lowering the operating pressure of pumps to reduce the energy consumption can be a major challenge in high pressure seals market.
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Market Classification and Overview
High Pressure Seals Market is segmented based on material, application and region. On the basis of material type, the market is segmented into metal, thermoplastic polyurethane, hydrogenated nitril butadiene rubber, fluoroelastomer, ethylene propylene diene monomer (EPDM) and others. Metal based high pressure seals dominate the market for high pressure seals as metal based seals eliminate the permeation problems and can handle an extremely wide range of temperature and pressure. Fluoroelastomer is projected to be the fastest growing type in high pressure seals market owing to its properties such as resistance to mineral oil based fluids, bio-diesel, fire resistant water-based hydraulic fluids, biodegradable fluids, vegetable oils, sea water and resistant to most modern hydraulic fluids. High pressure seals find application in various end-use industries such as power generation, chemical & petrochemical, oil & gas, pharmaceutical, aerospace & defense, manufacturing industry, and mining among others. Among these end use industries, the oil & gas industry is anticipated to lead the worldwide high pressure seals market. This is due to increase in production of shale gas in developing and developed countries. In addition, new oil & gas exploration activities coupled with extensive investments in deep water oil production and pipelines would escalate the growth in developed countries in the coming period. Mining and pharmaceutical is estimated to be the fastest growing market in high pressure seals.
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Regional Overview
The market for high pressure seal is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle-East and Africa (MEA). Asia-Pacific dominated the market for high pressure seals and the region is also projected to witness high growth over the forecast period. China contributed maximum revenue from the region and is estimated to be the largest market in the overall high pressure seal market owing to the presence of largest automotive in the country. India is projected to witness highest growth in during the forecast period because of the surge in demand from the mining, aerospace & defense, and pharmaceutical sector.
Report Coverage
Market Global High Pressure Seal Market
Analysis Period 2014 – 2024
Historic Data 2014 – 2015
Base Year 2016
Forecast Data 2017 – 2024
Market Stratification Material, Application, Geography
Regional Scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis
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Market Participants
John Crane, Flowserve Corp., Garlock Sealing Technologies LLC, James Walker & Co, Parker Hannifin Corporation, Saint-Gobain S.A. and EI du Pont de Nemours & Co, Eagle Burgmann Germany GmbH & Co Kg, AES Corporation, Svenska Kullagerfabriken AB, and EKATO Corporation are the prominent players in the high pressure seal market.
Market Segmentation
Market By Material
Metal
Thermoplastic polyurethane
Hydrogenated nitril butadiene rubber
Fluoroelastomer
Ethylene propylene diene monomer (EPDM)
Others
Market By Application
Power generation
Oil & gas
Aerospace & defense
Chemical & petrochemical
Pharmaceutical
Manufacturing industry
Mining
Others
Market By Geography
North America
o US
o Canada
o Mexico
Europe
o UK
o Germany
o France
o Rest of Europe
Asia-Pacific
o China
o Japan
o India
o Australia
o Rest of Asia-Pacific
Latin America
o Brazil
o Chile
o Rest of Latin America
Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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About Us
Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
Contact -
Frank Wilson
Sales Manager | Acumen Research and Consulting
Email: frank@acumenresearchandconsulting.com
Ph - USA +1 716-240-831
Asia-Pacific +912065600384
Website: https://www.acumenresearchandconsulting.com
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