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The Global High Pressure Seals Market is expected to exhibit a strong CAGR over the forecast period from 2018 to 2023 on the back of the steady growth in demand from the oil and gas, automotive, aerospace, chemicals, and power generation industries, according to the latest research report from Market Research Future (MRFR).High Pressure Seals play a crucial role in industrial operations by not allowing the contents of a tube or other container to escape. This is of particular help in industries where the product is especially valuable or especially dangerous, such as being flammable. The oil and gas industry has emerged as a major end user of High Pressure Seals in recent years, due to the high value of the crude oil products carried in oil and gas industry pipelines as well as the risk of crude oil leaks catching fire and destroying the property of oil and gas explorers. The growing production volume of the oil and gas industry is likely to lead to steady growth of the Global High Pressure Seals Market over the forecast period. The growing emphasis on workplace safety in the oil and gas industry is also likely to lead to rapid growth in the demand from the High Pressure Seals Market over the forecast period.
Other major end user such as aerospace, automotive, and power generation industries are also likely to witness smooth growth over the forecast period, leading to steady growth in the Global High Pressure Seals Market. Aerospace and automotive design needs high pressure seals to contain the high amounts of power delivered by aerospace and automotive engines, whereas the loss of lubricant fluids and other important fluids can also have adverse consequences. The rising demand for premium automobiles with high-capacity engines is likely to be a major driver for the Global High Pressure Seals Market over the forecast period. The increasing focus of many countries on improving their aerospace sector is also likely to lead to rapid growth of the High Pressure Seals Market over the forecast period.
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Competitive Analysis:
Leading players in the Global High Pressure Seals Market include American High Performance Seals, Kalsi Engineering Inc., EagleBurgmann Germany GmbH & Co. KG, Garlock Sealing Technologies LLC, DowDuPont Inc., Bal Seal Engineering Inc., James Walker, Gallagher Fluid Seals Inc., Parker Hannifin Corp., France Joint, Trelleborg Sealing Solutions, FP Paris, Flowserve Corporation, John Crane, and Performance Sealing Inc.
In April 2019, Greene Tweed’s FPH (fireproof hydraulic) seal became the first aerospace seal to pass fireproof tests. This means that the seal removes the need for expensive fire shields and thus represents a significant technological step in the Global High Pressure Seals Market.
Segmentation:
The Global High Pressure Seals Market has been segmented by Material, Application, End-Use Industry, and Region.
On the Basis of the Material, the Global High Pressure Seals Market has been segmented into metal, rubber, rubber-metal combination, and others. The rubber segment has been further classified as polyacrylate (ACM), ethylene acrylate rubber (AEM), polychloroprene (CR), thermoplastic polyurethane (TPU), hydrogenated nitrile butadiene rubber (HBR), nitrile butadiene rubber (NBR), fluorocarbon-based synthetic rubber, ethylene propylene diene monomer (EPDM), vinyl methyl silicon rubber (VMQ), and others.
On the Basis of Application, the Global High Pressure Seals Market has been segmented into pumps, agitators, valves, compressors, tube couplings, pipes and ducts, and others.
On the Basis of End-Use Industry, the Global High Pressure Seals Market has been segmented into oil and gas, aerospace, automotive, power generation, chemicals, pharmaceuticals, food and beverage, and others. The oil and gas industry holds a dominant 37% share in the Global High Pressure Seals Market and is likely to remain the leading consumer over the forecast period.
Regional Analysis:
Asia Pacific is likely to remain the leading regional market for High Pressure Seals over the forecast period due to the rapid growth of industries such as oil and gas, automotive, aerospace, pharmaceuticals, and power generation in the region.
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