Future Market Insights has announced the addition of the "High Pressure Seal Market to Witness a Pronounce Growth During 2016 - 2026 | Future Market Insights" report to their offering
Valley Cottage, NY -- (SBWIRE) -- 04/10/2019 -- High Pressure Seal is a mechanical device used to join high pressure systems, to prevent leaking and behold pressure to ensure smooth flow and safety. High Pressure seals are generally made from metals or industrial grade rubbers. These seals not only provide a mechanism to control high pressures but are fairly robust and can be used at high at well as low temperatures. These seals are prominently used in tube couplings, pressure valves, compressors, and hydraulic pumps, and are widely used across all segments of oil & gas industry including upstream, midstream and downstream segments. Moreover, high pressure seals are increasingly finding more usage in manufacturing industry amid, rise in complexity of products and safety concerns. The global high pressure seal market is projected to witness significant growth rate over the forecast period.
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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.
Global High Pressure Seal Market: Segmentation
On the basis of material
Thermoplastic polyurethane (TPU)
Hydrogenated nitrile butadiene rubber (HBR)
Fluorocarbon-based synthetic rubber
Ethylene propylene dyne terpolymer (EPDM)
On the basis of end use industry,
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.
Global High Pressure Seal Market: Key Players
Smiths Group Plc.
Garlock Sealing Technologies LLC
James Walker & Co
Parker Hannifin Corporation
EagleBurgmann Germany GmbH & Co. KG
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