Press release
Polymer Seals Market to Witness Increase in Revenues by 2028
Polymer seals are primarily designed for the utilization in wide range of pneumatic, hydraulic and rotating equipment across the globe. Polymer seals are utilized across the various industries which include automotive, aerospace etc. Within an aerospace industry, polymer seals are used in order to withstand various extreme conditions and they are also critical to the system’s operational reliability.
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Global Polymer Seals Market: Segmentation
Globally, the Polymer seals market can be segmented on the basis of motion type and end-use industry
On the basis of motion type, the global polymer seals market can be segmented into
Rotating
Reciprocating
Others
On the basis of end-use industry, the global polymer seals market can be segmented into,
Aerospace
Automotive
Oil & Gas
Construction
Electronics
Others
On the basis of sales channel, the global polymer seals market can be segmented into
OEM
Aftermarket
Global Polymer Seals Market: Dynamics
Growing automotive sales and increasing vehicle parc has resulted in the increasing carbon emission, thereby making the automotive sector a significant contributor to greenhouse effect. As a result, various agencies has formed regulations for the development of green technologies and vehicles that are efficient. This has boosted the demand for lightweight vehicles. Owing to the shift towards lightweight and more efficient vehicles, OEMs are utilizing polymer seals in their vehicles, thus propelling the growth of the polymer seals across the globe.
Further, increasing investments across the oil & gas industry are pushing the demand for the subsea sealing technology and thus in turn escalating the demand for the polymer seals across the globe.
On the other hand, manufacturing of effective and productive polymer seals in order to meet the customer requirements is expected to be one of the key challenges in the market over the near future.
With the ever-increasing emission standards and push towards the sustainability solutions, manufacturers have developed an ethylene propylene diene monomer (EPDM) rubber compound from a polymer which is produced from sugarcane-based feedstock. Thus, this polymers can be utilized in the manufacturing of seals.
Global Polymer Seals Market: Regional Outlook
Considering regions, the global polymer seals market is expected to be dominated by Asia-Pacific region, owing to the reason that these type of seals are utilized for various applications for the automotive industry. Growing automotive industry in the countries such as China and India supported by rising demand for the mid-sized vehicles is pushing the growth of polymer seals in the Asia-Pacific. North America spearheaded by U.S. is expected to grow at moderate rate in the market over the near future. North America and Europe are the most mature markets for the polymer seals across the globe. However, the demand is expected to rise significantly in the Asia Pacific region. Latin America and MEA are projected to grow at moderate rate over the near future.
Global Polymer Seals Market: Market Participants
Examples of some of the market participants involved in the global Polymer Seals market include ERIKS nv, Morgan Polymer Seals, AB SKF, A.W. Chesterton Company, Parker Hannifin Corporation, NOK CORPORATION, Precision Polymer Engineering, Apple Rubber Products, Saint-Gobain Performance Plastics, Greene, Tweed, Specialised Polymer Engineering, Boss Polymer and others.
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Prominent manufacturers of polymer seals are found to be involved in the research & development activities in order to introduce the new products in the market. Globally, the polymer seals market is anticipated to be the partly fragmented as there are large number of players involved in the production of the product.
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