High-Pressure Seals Market Analysis | 2023-2028

Market Insights

The high-pressure seals market was estimated at USD 4.5 billion in 2022 and is likely to grow at a CAGR of 7.1% during 2023-2028 to reach USD 6.9 billion in 2028.

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Market Dynamics

Introduction

A mechanical device known as a high-pressure seal joins high-pressure systems to maintain pressure and stop leaks for effective and safe operation. High-pressure seals are frequently made using industrial-grade metals or rubbers. In addition to being crucial for handling high pressures, these seals are also incredibly resilient and may be utilized in both hot and low temperatures. These seals are necessary for pressure valves, compressors, hydraulic pumps, and tube couplings.

Market Drivers

The world's oil & gas sector is expanding, and crude oil prices are gradually rising. It is anticipated that more production and exploration activities will follow, leading to an increase in demand for high-pressure seals, which are extensively employed across the supply chain for petroleum products. The need for high-pressure seals is also rising because of the booming pharmaceutical and industrial sectors. Increased demand for autos, which is fueled by rising disposable income and living standards, is driving up demand for high-pressure seals. Most factories that make automotive components use these seals as a crucial component. However, the usage of gland packing and seal-less pumps, as well as the use of limitless hotspots for power generation, are limiting the industry's total expansion.

COVID-19 Impact

High-pressure seals, a sizeable market, could not escape from such trends and witnessed a colossal decline of more than 15% in 2020 Globally, the COVID-19 pandemic epidemic has harmed the development of many businesses, including high-pressure seals. The sales, demand, and manufacture of high-pressure seals have also faced hitherto unheard-of difficulties because of the slowed-down operations in electronics, automotive, and many other industries. This is due to the emergence of undesirable circumstances, such as the shortage of manpower and raw supplies brought on by the application of the social lockdown and distancing rules. 

Segments Analysis

By Material Type

“Ethylene Propylene Diene Monomer (EPDM) dominates the market during the forecast period.”

The High-Pressure Seals Market is segmented into Metal, Thermoplastic Polyurethane, Hydrogenated Nitrile Butadiene Rubber (HNBR), Fluoroelastomers, Ethylene Propylene Diene Monomer, and Others. EPDM is expected to remain the most preferred material in the market during the forecast period owing to the rise in demand for ethylene propylene dyne terpolymer seals in the power generating industry is the factor that can be ascribed to EPDM's expansion.

In the power generation sector, high-pressure seals based on EPDM are employed. Better heat resistance, greater low-temperature flexibility, and improved weather resistance are all features of these seals. Future demand for high-pressure seals made of EPDM will be driven by the rising electrical consumption from developing nations like Southeast Asian nations and developing economies like China, India, and Southeast Asia.

By End-Use Industry Type

“Oil & Gas dominates the market during the forecast period.”

The market is segmented into Oil & Gas, Chemicals & Petrochemicals, Power Generation, Thermal Power, Aerospace & Defense, Mining, Manufacturing Industry, and Pharmaceuticals. Oil & Gas is expected to remain the dominant as well as the fastest-growing end-use industry in the market during the forecast period.

The rising use of high-pressure seals in valves, compressors, couplings, and hydraulic pumps is one of the reasons contributing to the expansion of this market. It is also anticipated that growing research activity in developing economies will fuel the segment's expansion.

Regional Insights

“Asia-Pacific is expected to remain the largest market for High-Pressure Seals during the forecast period.”

Due to rapid industrialization, Asia-Pacific currently holds a monopoly on the worldwide high-pressure seals market and is predicted to grow at the highest CAGR throughout the forecast period. Due to the rising demand for high-pressure seals from well-established aerospace & defense industries, North America also held a sizeable market share. Due to the expanding use of high-pressure seals in downstream applications as well as research and production operations, Europe and the Rest of the World are anticipated to have significant expansion during the projection period.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc.

The following are the key players in the high-pressure seals market (arranged alphabetically).

• Aesseal Ekato Holding
• American High Performance Seals
• DuPont
• Eagle Burgmann
• Flowserve
• James Walker
• Jet Seal
• John Crane
• Seal Houseica
• SKF

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The high-pressure seals market is segmented into the following categories:

By Material Type

• Metal
• Thermoplastic Polyurethane
• Hydrogenated Nitrile Butadiene Rubber (HNBR)
• Fluoroelastomers
• Ethylene Propylene Diene Monomer
• Others

By End-Use Industry Type

• Oil & Gas
• Chemicals and Petrochemicals
• Power Generation
• Thermal Power
• Aerospace & Defence
• Mining
• Manufacturing Industry
• Pharmaceuticals

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s high-pressure seals market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our high-pressure seals market report from the industry stakeholders, we have tried to further accentuate our research scope to the high-pressure seals market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as in the formulation of the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].