The global Polymer Seals Market is anticipated to be worth US$ 11.3 billion by 2022. According to Future Market Insights (FMI), the market will develop at a 5.1% CAGR from 2022 to 2032. Polymer seals are utilised in many sectors, including as oil & gas, aviation, aerospace, and cars.
Polymer seals outperform traditional sealants in high temperature and corrosion resistance, both of which are key needs in all of these sectors. Between 2022 and 2032, these features are predicted to stimulate demand for polymer seals. All sectors that employ polymer seals, according to FMI, will likely accelerate in the next years, driving the polymer seals industry ahead.
Increasing defense budgets of governments are also expected in the coming years, which should generate further demand for polymer seals. For instance, the governments of India and China have been observed to increase their spending on defense in recent years, particularly for upgrading their respective air forces by investing in latest military-grade air crafts and fighter jets. Owing to the tense geopolitical climate in the region, the spending is set to rise in the near future and result in accelerating polymer seal sales.
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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 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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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