High Pressure Seals Market 2023 Analysis by Trading, Industry Estimation, Trends and Projection 2030
High-pressure seals are High Pressure Seals Market which can handle pressure at 35 bar and above. Some seals are needed to ensure sealing of leaks or spills and ensure a smooth flow. These seals are known for better wear resistance and higher durability. The global high-pressure seals market report by Market Research Future (MRFR) looks at various historical trends, current trends, and makes future predictions for the period between 2021 and 2030 (forecast period).
Market Scope
High Pressure Seals Market is projected to be worth USD 8.16 billion by 2030, registering a CAGR of 7.57% during the forecast period (2023 - 2030). Applications in end-use industries of automotive, chemical, power generation, oil & gas, and others are likely to drive market demand. For instance, PTFE seals are employed in the automotive sector for sealing of motorboxes, gearbox, and others.
Increasing demand for high-pressure seals from oil & gas and chemicals industries can work in favor of the market. High-pressure seals are a must for floating production storage and offloading (FPSO) units at offshore oil rigs. It is used in the safe production of fluids. The power generation sector is likely to trigger the demand for seals due to safety concerns and regulations for workers. However, the dependency on renewable sources of energy can limit the market growth. But the establishment of nuclear power generation sites can be a prime opportunity for the market to thrive.
Segmentation
The global high-pressure seals market has been segmented based on material, and end-use.
Based on material, the global market is classified into metals, elastomers,PTFE, rubber-metal combination and others.
Based on application, the global market has been classified into pumps, valves, compressors, Europe Pipe, ducts and others.
Based on end-use, the global market has been classified into oil & gas, aerospace & defense, power generation, chemical,Pharmaceutical Logistics, automotive and others.
Regional Analysis
By region, the market has been categorized as North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA).
APAC currently dominates the global high-pressure seals market and projected to exhibit a phenomenal CAGR during the forecast period due to rapid industrialization. The demand for seals in the power generation sector in economies of APAC to solve the energy crisis can bode well for the market. China, India, and other countries in Southeast Asia can contribute greatly to the market due to demand for pressure seal gaskets in automobile, pharmaceutical, and others. The large valuation placed on the Indian pharmaceutical industry and the large production rate due to the development of generics and clinical trials on new drugs can propel market growth.
North America accounted for a significant share of the market in 2018. Aerospace and defense industries in the region are driving the market demand for high-pressure seals significantly. The U.S. is the leading country with the highest demand due to major players such as DuPont, James Walker, and Bal Seal. Canada can trigger massive demand due to the burgeoning oil & gas sector.
The Europe high-pressure seals market can perform remarkably due to the use of these devices in motors, valves, compressors, cryogenics, and other automotive components. Germany is one of the biggest contributors of the European market owing to the presence of various automotive manufacturers. While Latin America and MEA can showcase significant market growth due to a surge in exploration and production activities.
Key Companies in the high pressure seals market include
- EagleBurgmann
- Gallagher Seals
- Performance Sealing Inc (PSI)
- FTL
- Trelleborg
- James Walker
- John Crane
- Kalsi Engineering, Inc.
- Parker Hannifin Corp
- Flowserve Corporation
- lli Paris S.r.l.
- Bal Seal Engineering
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