High-Performance Seals Market Size to Reach USD 8,049.9 Million at CAGR 6.81% by 2024
High-Performance Seals Market Report Insights and Industry Analysis 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) - Competitive Market Size, Share, Trends, and Forecast, 2018 - 2024
Pune, India, June 14, 2019 (GLOBE NEWSWIRE) -- The escalation in industrial applications has encouraged the surge in demand for High-Performance Seals. Increased need to comply with safety regulations is a key factor spurring the growth of the High-Performance Seals Market. Apropos a report made available by Market research future on the High-Performance Seals Market, reveals that the market is likely to gross USD 8,049.9 million in earnings and gain a CAGR of 6.81% in the duration of the forecast period. The need to capitalize on the unique capabilities for growth in the market is anticipated to benefit the High-Performance Seals Market in the approaching period.
The need to grow the scope and scale of their manufacturing capabilities has led to market contender investing in the market and consolidating their assets to achieve favorable growth benefits. Moreover, the increased back-end savings that can be achieved in the High-Performance Seal Market is attracting new players into the market. The demand for engineered products and custom sealing is expected to set the tone for the expansion of the market for High-Performance Seals in the coming decade. Additionally, rise in the applications of High-Performance Seals related to specialty gaskets and specialty stamping and glass applications is projected to optimize the development of the market in the forecast period.
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Summary:
The High-Performance Seals Market is estimated to accomplish a CAGR of 6.81% to achieve a worth of USD 8,049.9 million in revenue by the end of the forecast period by 2024, as per a report released by Market Research Future. The market for High-Performance Seals is expected to grow with the expansion of the power generation industry globally.
Key Players:
SKF (Sweden), IDG-Dichtungstechnik GmbH (Germany), Trelleborg Sealing Solutions (Sweden), James Walker (US), CARCO S.R.L (Italy), ElringKlingerKunststofftechnik GmbH (Germany), DowDuPont (US), Hallite Seals (UK), Saint-Gobain Performance Plastics (US), Repack-S (France), EagleBurgmann (Germany), John Crane (US), Race-Tec Sealing Limited (UK), Le joint français (France), ATP S.p.a. (Italy), PXL SEALS (France), Freudenberg Sealing Technologies (Germany), ERIKS NV (the Netherlands), Techné (France), Elastotech SA (France), Techoseal (France), Utex Industries, Inc (US), Dichtomatik (Germany), Greene, Tweed (US), and Parker Hannifin Corp (US) are the leading players in the High Performance Seal Market.
Browse the market data and information spread across 299 pages with 349 data tables and 27 figures of the report “High-Performance Seals Market Report - Forecast 2018 - 2024” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/high-performance-seals-market-7893
Key Updates:
May 2019 Trelleborg’s marine and infrastructure function have signed an agreement with CCCC Fourth Harbor Engineering Co., Ltd, one of China’s major infrastructure construction services institutions, for the delivery of its foremost tunnel sealing solutions to China’s ShenZhong Link. The award of this contract was given due to the company’s certain standing as a global leader in the design and production of high-performance tunnel sealing solutions. Trelleborg will deliver its Gina gaskets and Omega seals, which are to be used for the linking of the sectional elements of the ShenZhong Link’s immersed tunnel.
Market Segmentation:
The Segment Evaluation of the High-Performance Seals Market is carried out on the basis of Material Type, End-Use Industry and Region.
Based on the Material Type, the High Performance Seals Market is segmented into metal, rubber-metal, rubber which comprises of HNBR, EPDM, AEM, NBR, TPU, CR, Silicone such as VMQ & FVMQ, ACM, fluoroelastomers, and others , plastic or polymer which includes PEEK, PTFE, UHMW-PE and PVDF, composites which comprises of glass, carbon fiber and cellulose.
Based on the End-Use Industry, the High-Performance Seals Market comprises of chemical, automotive, oil & gas, power generation, pharmaceutical, aerospace & defense, food & beverage, and others.
On the basis of Region, the High-Performance Seals Market comprises of North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Improved Production Facilities to Provide Competitive Edge to High-Performance Seal Market
The region-based study of the High-Performance Seal Market comprises of North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. AS per the study, the Asia Pacific region’s market is responsible for the biggest share in 2017, and the regional market is likely to record a CAGR of roughly 7% through the forecast period. China was credited for more than 50% of the regional market share in the year 2017. However, the Indian market is anticipated to display considerable growth and come forward as the fastest increasing market by registering a CAGR of more than 8.5% through the forecast period from 2018 to 2024. The Middle East and African region market are anticipated to observe a noteworthy growth due to the elevated demand for seals in oilfields. Also, the incidence of a large number of oil & gas reserves in nations such as Saudi Arabia, the UAE, and Israel is projected to enhance the demand for High-Performance Seals in the region substantially.
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