According to estimates, the global market for polymer seals will be worth $11.3 billion in 2022. The market is anticipated to grow at a CAGR of 5.1% from 2022 to 2032 to reach a worth of US$ 18.7 billion. Production and exploration equipment, transfer systems, turret swivel stack systems, and subsea equipment are all made with polymer seals.
In terms of resistance to corrosion and high temperatures, which are crucial requirements for all of these industries, polymer seals offer an edge over traditional sealants. These characteristics are anticipated to increase demand for polymer seals between 2022 and 2032. All of the industries that utilise polymer seals are expected to grow faster in the upcoming years, which will likely propel the polymer seals market forward, according to FMI.
In the upcoming years, rising government defence spending is also anticipated, which should increase demand for polymer seals. For instance, it has been noted that the governments of China and India have increased their defence spending in recent years, particularly to modernise their respective air forces by purchasing fighter jets and aircraft of the highest military calibre. The geopolitical tension in the area is expected to increase expenditure in the near future, which will speed up the sales of polymer seals.
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FMI also predicts the emergence of certain market restraints from 2022 to 2032. These restraints are likely to stem from the fact that sealant production causes significant pollution. Small scale consumers are also poised to choose polymer seal substitutes due to the high expenses associated with polymer seals.
Key Takeaways from the Polymer Seals Market Study
- By material type, the polyurethane (PU) segment is anticipated to witness considerable demand growth at 9% CAGR from 2022 to 2032.
- By product type, the sales of hydraulic and pneumatic seals are projected to expand at a CAGR of 6%.
- By region, Europe is anticipated to witness substantial growth in the polymer seals market due to lucrative markets in Germany, Italy, and the United Kingdom.
- India and China markets are anticipated to emerge as prominent polymer seals markets in Asia and register 9% and 6.0% CAGR, respectively.
- By end use, transportation equipment was estimated to hold a prominent volume share of 4% in 2022.
Who is Winning?
Key players in the Polymer Seals include Freund Corp, Rotronic AG, Neu-tec Group Inc, Meter Group, Freund Corp., Novasina AG, Biobase Group, Labtron Equipment Ltd, Steroglass Srl, CapPlus Technologies, EDUTEK INSTRUMENTATION, MRC-Laboratory Equipment, and Awtester & Wisdom Instrument.
To gain a competitive advantage in the industry, key manufacturers are developing innovative polymer seal products. Market players are also heavily investing in expansion, mergers, acquisitions, and strategic partnerships to expand their global footprints.
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Future Market Insights, in its new offering, provides an unbiased analysis of the global polymer seals market, presenting historical demand data (2017 to 2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the polymer seals market based on material type (polyurethane (PU), acrylonitrile-butadiene-rubber (NBR), fluoro-rubber (FKM), polytetrafluoroethylene (PTFE)), product type (hydraulic and pneumatic seals, rotary seals, spring energised seals), end use (transportation equipment, industrial machinery and equipment, electronic apparatus and appliances, healthcare, oil and gas extraction, construction infrastructure and utilities, MRO, other manufacturing and assembly), and distribution channel (OEM, aftermarket) across seven key regions.
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Global Polymer Seals Market by Category
By Material Type:
- Polyurethane (PU)
- Acrylonitrile-butadiene-rubber (NBR)
- Fluoro-rubber (FKM)
- Polytetrafluoroethylene (PTFE)
By Product Type:
- Hydraulic and Pneumatic seals
- Rotary Seals
- Spring Energized Seals
By End Use:
- Transportation Equipment
- Automotive and Components
- Aircraft and Components
- Railroad Equipment
- Marine Transportation and Components
- Industrial Machinery and Equipment
- Electronic Apparatus and Appliances
- Healthcare
- Medical Devices and Component Manufacturing
- Surgical Tool manufacturing
- Oil and Gas Extraction
- Construction Infrastructure and Utilities
- MRO, Other Manufacturing, and Assembly
By Distribution Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East and Africa
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