High-Performance Seals Market: Information by Material Type {[Rubber (EPDM, AEM, HNBR, TPU, NBR, CR, Silicone (VMQ, FVMQ), Fluoroelastomers, ACM, Others), Plastic/Polymer (PTFE, PEEK, PVDF, UHMW-PE), Composites (Carbon Fiber, Glass, Cellulose, Others), Rubber-Metal and Metal]}, End-Use Industry (Oil & Gas, Chemical, Power Generation, Aerospace & Defense, Pharmaceutical, Automotive, Food & Beverage and others) and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Forecast till 2030

COVID-19 Analysis

Market Dynamics

Drivers

High-performance seals are in demand and their demand is growing every year largely because the oil and gas industry relies on these to continue to produce various oil and petroleum products. High-performance seals are used primarily and extensively in drills and various related tools, drill bits, blow-out preventers, drilling mud systems, casing and pipe connectors, compressor pipes, and control valves.

Another industry that uses these seals extensively in the automotive industry. The aerospace industry relies heavily on high-performance seals to carry out routine operations and to produce new and innovative products.

Opportunities

One of the biggest opportunities for high-performance seals lies in the power generation industry. This industry uses these types of seals to generate the energy and electricity that powers the world.

Restraints

There is one major restraint that will threaten both the high-performance seals market and the high-performance seals market share. This is the growing use of pumps that either do not have or do not need seals. Many industries are starting to use these types of pumps. Some of the major ones are the chemical, automotive, and oil and gas industries. 

Challenges

The engineering and technology behind high-performance seals present one of the biggest challenges for this market. Many companies find that using these seals is too expensive and substantially delays the completion date of various projects. 

Cumulative growth analysis

The long-term outlook for the high-performance seals market in terms of CAGR is bright. One of the main factors that are driving this high yearly growth is the fact that many industries currently use the seals. For example, the energy and oil and gas industries use these seals heavily.

Technology Analysis

Segment Overview

By industry

The automotive industry relies heavily on high-performance seals. These seals are extensively used in air conditioning systems, batteries, braking systems, drivetrain and transmission, electronic control units, fuel systems, ride control systems, etc... The automotive industry prefers to use these seals because they are insensitive to very high temperatures. This is crucial since cars can get very hot, especially when driven for long distances.

By product

High-performance seals are used extensively in electronically powered cars and other vehicles. These seals are used to seal the batteries to prevent potentially deadly leaks. More and more people are buying electric cars because they are trying to prevent carbon emissions from vehicles from entering the environment. These carbon emissions are believed to be the primary cause and driver of global warming.

By component

The aerospace industry uses these types of seals to make many systems like actuation, flight controls, landing gears, etc. safer, more efficient, and more productive. High-performance seals are also useful in managing and regulating aircraft engines.

Global High-Performance Seals Market Share, by Region, 2017 (%)                                

Sources: MRFR Analysis

Regional Analysis

The largest high-performance seals market share was in the Asia-Pacific region. This was as of 2017. Its CAGR is expected to be 7% until the end of 2024. China alone held more than half of the Asia-Pacific market share in 2017. India is experiencing the fastest high-performance seals market growth. It has the highest CAGR of all countries in the Asia-Pacific region of 8.5% until the end of 2024.

The Middle East and North Africa (MENA) region use seals in its oilfields. Hence, CAGR and demand for these seals are expected to be very high, at least until the end of 2024. The UAS and Saudi Arabia alone have most of the region’s oil and gas reserves. Increasing oil production in the post-COVID-19 world is expected to drive the regional CAGR up until at least the end of 2024.

Competitive Landscape

There may be substantial barriers to entry in the high-performance seals market, but this industry still faces stiff competition. This is large because the market is so lucrative and has a high overall and regional CAGR. 

A major player in the industry is Dow DuPont (USA). It remains competitive by investing heavily in research and development. This has allowed it to infuse new technologies into these seals to come up with the next generation of seals with useful and innovative applications. For example, Kalrez parts are emerging and are the seals of choice for industries that must deal with extremely high temperatures.

List of companies

•     ElringKlinger Kunststofftechnik GmbH (Germany), 


•     Trelleborg Sealing Solutions (Sweden), 


•     SKF (Sweden), 


•     James Walker (US), 


•     IDG-Dichtungstechnik GmbH (Germany), 


•     CARCO S.R.L (Italy), 


•     PXL SEALS (France), 


•     DowDuPont (US), 


•     Saint-Gobain Performance Plastics (US),


•     Freudenberg Sealing Technologies (Germany), 


•     Eagle Burgmann (Germany), 


•     John Crane (US), 


•     Hallite Seals (UK), 


•     Race-Tec Sealing Limited (UK), 


•     ATP S.p.a. (Italy), 


•     ERIKS NV (the Netherlands), 


•     Techné (France), 


•     Elastotech SA (France), 


•     Le joint français (France), 


•     Techoseal (France), 


•     Greene, Tweed (US), Utex Industries, Inc (US), 


•     Dichtomatik (Germany), 


•     Repack-S (France) and 


•     Parker Hannifin Corp (US).

Recent Developments

In March 2018,

One of the high-performance seal market firms, AFT Fluorotec, had offered to buy the organizational set of the Trelleborg (US) just to ensure the customer base and the rest of the marginal differences in the performance base. This was done just to ensure the base's proper financing such that the customer base is expanded. The high-performance market bases have also drawn the R&D such that the global customer base has their interests peaked in the High-Performance Seals Market.

The mergers and all collaborators have ensured the proper operation and high performance of the dealers.

Report Overview

The high-performance seals market has a high net worth and is experiencing high CAGR both regionally and overall, until the end of 2024. Many industries use these seals for many applications and technological advances are projected to increase demand and drive growth for the near future. Competition in the industry is intense and lower-cost alternatives are emerging which some industries are beginning to use.