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Polymer Seals Market

Polymer Seals Market

Polymer Seals Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Polymer Seals Market
FACT586MR

About the Report

The global polymer seals market is slated to expand at a CAGR of close to 6% throughout the 2021-2031 assessment period. Hydraulic & pneumatic seals and rotary seals will remain most sought-after across industries, with both these segments together holding close to four-fifth overall market share.

Polymer seals act as a mechanical barrier that protects equipment from different kinds of leakages, abrasion, and wear & tear. Consumers of polymer seals arise from a bundle of industries ranging from transportation, industrial machinery, electronics, healthcare, and others. Aggregate growth of the formerly mentioned industries will provide strong growth in demand for polymer seals over the coming years.

After the initial setbacks of COVID-19, transportation and logistics, especially the marine industry, has gained traction owing to extensive utilization of sea routes for the transportation of LNG, crude, and other materials. Growth of the marine industry is set to cascade the effect to the demand for polymer seals.

Apart from the analysis of demand from end-use industries, supply chain and other factors regarding the polymer seals market have been discussed in the recently published report by Fact.MR. Insights have been streamlined in the report in the form of a timeline, where the report is drafted in historical (2016-2020) and forecast terms (2021-2031). Market trends and opportunities for polymer seals have been analyzed in 20+ high-growth countries, which points towards Europe, East Asia, and North America being the most lucrative markets.

Historical Trends Vs Future Market Projections

Widespread utilization of polymer seals across various industries has diversified the market stance. This has reduced the risk of manufacturers channeling polymer seals across industries over the past half-decade. Over the same period, fluctuations across the automotive and aerospace industry have squeezed demand and created a market risk bubble.

In FY2020, COVID-19 hit the manufacturing sector in the gut, providing a domino effect to the supply and demand of polymer seals. Downfall could be assessed with respect to reduction in industrial investments and enhanced saving of investors in the market. Expected rise in investments across the industrial sector has been observed over the period of Q4 of FY2020, providing strong trade winds to polymer seal manufacturers.

Market growth over the long-run forecast period has been assessed by dividing the term (2021-2031) into three major periods. They are short-run, medium-run, and long-run.

Short-run: Market growth is analyzed along the lines of industrial growth over the period of Q1 of FY2021 to Q4 FY 2023. Market is anticipated to grow at a nominal pace over the same period.

Medium-Run: Spending across industries is set to normalize, which will lead to nominal growth in demand for polymer seals. Apart from market growth factors, pricing factors, exchange rate, and trade policies are discussed in the report in detail.

Long-Run: Change in labor market and shift of manufacturing to developing economies to provide a different outlook to the market by the end of FY2031.

The global oil & gas seal processing industry is focused on improving productivity and efficiency, especially in developing regions such as Asia Pacific where demand is significant. As the oil & gas industry recovers from the impact of coronavirus, it will present promising opportunities for manufacturers of polymer seals over the assessed forecast period, and expected to capture more than quarter market share during the same period.

polymer seals market region

Country-wise Analysis

Why are European countries leading the market for polymer seals?

The European region manufactures over 25% of the motor vehicles produced in the entire world. By vehicle, over 85% total motor vehicles manufactured in Europe are passenger cars, owing to the presence of top class car manufacturers present in Europe. Some of the top manufacturers are Audi, Mercedes, Porsche, BMW, Volkswagen, and Opel, who are the major consumers of polymers seals in the field of transportation catering to significant demand in the region.

Why is China set to witness higher demand potential for polymer seals?

China is the largest automotive market and has been growing at a faster pace over the past-half decade. Chinese government policies and incentives have provided a pathway that shall enhance demand for automotive. Incentives are not only provided to consumers but also to automotive manufacturers in the country. This is set to enhance regional automotive manufacturing and strengthen demand for polymer seals even further.

polymer seals market type

Category-wise Insights

Why is demand for polymer seals high from the aviation sector?

The aircraft industry is experiencing accelerated growth globally, driven by low airfares and fast-growing tourism in Asia Pacific and other regions. Growing usage of air services is set to launch new airplanes, which will heighten the requisite for polymer seals.

In North America, countries such as the U.S. and Canada have leading aircraft manufacturers and OEMs, which leads to a strong market in the region. Aircraft require seals and there are no near substitutes, which is set to drive market growth over the coming years. The market is projected to expand at a rapid pace over the forecast period due to increased investments in the aviation and defence industry.

Will polymer seal application in the oil & gas sector capture highest market share in future?

Various seal manufacturers are significantly focusing on product development, design, and efficiency. Recent discoveries of oil fields in countries such as Malaysia, Norway, Russia, Brazil, Mexico, etc., are expected to increase demand for sealing solutions over the forecast period. With growing sustainability awareness around the world, oil and gas sealing solution companies are embracing innovative manufacturing technologies and practices. Production is expected to rise with increasing adoption of smart precision manufacturing technology and also due to increasing raw material availability.

How has the supply chain of polymer seals ben disrupted due to COVID-19?

To survive in the COVID-affected world, companies need to gain insights into their supply chains to both, track and properly respond to changes in supply and demand. They need a demand-based supply chain that is sensitive to environmental changes. Disruptions in the supply chain during COVID-19 have impacted every single industry, including the oil & gas industry, cascading the effect to the polymer seals industry. In the same way, other industries such as aircraft, marine, etc., where the requirement for polymer seals was high, have faced reduced production, affecting polymer seal consumption over the period.

However, the healthcare industry has seen increased use of polymer seals in various applications, typically prosthetic knees and ankles, patient lifts, homogenizers, decanters, separators, etc. Despite the fillip from the healthcare industry, the overall scenario for the market was not good in 2020 owing to weak supply chain management.

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Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Mexico
  • Brazil
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • China
  • Japan
  • India
  • ASEAN
  • GCC
  • Turkey

Key Segments Covered

  • Material
  • Product
  • End Use
  • Sales Channel
  • Region

Key Companies Profiled

  • Saint Gobain
  • SKF AB
  • Eriks NV
  • Trelleborg
  • Bal Seal
  • Meggit
  • Parker Hannifin
  • Advanced Seals & Gaskets Ltd.
  • DLI Seals Ltd.
  • Greene-Tweed
  • Herzog Dichtungen AG
  • SHS-Dichtungen-GmbH
  • Specialised Polymer Engineering Ltd.
  • TRP Polymer Solutions Ltd.
  • Chesterton
  • Carco
  • Novotema

An Adaptive Approach to Modern-day Research Needs

Key Market Segments Covered in Report

  • Material

    • Polyurethane (PU) Polymer Seals
    • Acrylonitrile-butadiene-rubber (NBR) Polymer Seals
    • Fluoro-rubber (FKM) Polymer Seals
    • Polytetrafluoroethylene (PTFE) Polymer Seals
    • Other Material Types
  • Product

    • Hydraulic and Pneumatic Seals
    • Rotary Seals
    • Spring Energized Seals
  • End Use

    • Polymer Seals for Transportation Equipment
      • Automotive and Components
      • Aircraft and Components
      • Railroad Equipment 
      • Marine Transportation and Components
    • Polymer Seals for Industrial Machinery and Equipment
    • Polymer Seals for Electronic Apparatus and Appliances
    • Polymer Seals for Healthcare
      • Medical devices and Component Manufacturing
      • Surgical tool manufacturing
    • Polymer Seals for Oil and Gas Extraction
    • Polymer Seals for Construction Infrastructure and Utilities
    • Polymer Seals for MRO, Other Manufacturing, and Assembly Cleaning Fluids
    • Polymer Seals for Perfumes & Fragrances
    • Others
  • Sales Channel

    • OEMs
    • After Market
  • Region

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

Polymer Seals Market- Scope of the Report

A recent study by Fact.MR on the polymer seals market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of polymer seals.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing polymer seals, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of polymer seals across the globe.

A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of polymer seals during the forecast period. Price point comparison by region with global average price is also considered in the study.

Analysis on Market Size Evaluation

The market has been analyzed for each market segment in terms of volume (‘000 Units) and Value (US$ Mn).

Market estimates at global and regional levels for polymer seals are available in terms of “US$ Mn” for value and in “’’000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying the potential resources, considering the sales and distribution perspective in the global polymer seals market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of polymer seals market during the forecast period.

Country-specific valuation on demand for polymer seals has been offered for each regional market, along with the market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value and volume for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

The report sheds light on the leading manufacturers of polymer seals along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of polymer seals has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolio and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the polymer seals market.

- FAQs -

Being a moderately fragmented market, polymer seal manufacturers have a good presence throughout the globe. Key players in the market capture a significant supply share, catering to customers with strong revenue structure.
Polymer seals have played a major role in serving the healthcare industry from the past half-decade, and COVID-19 has provided an impetus to market growth. Other factors regarding the market growth and demand inclination in this sector are provided in the
Among the four materials of polymer seals, PTFE-based polymer seals possess the highest market share of more than one-third. Demand for PTFE-based polymer seals is expected to expand at a higher CAGR over the long-run forecast period.
Europe has the highest market share, and Germany has witnessed the highest demand. But over the long-run forecast period, shift in trade winds is expected for East Asia and South Asia Oceanic countries such as China and India, due to their potential marke
Demand for polymer seals in the healthcare industry is expected to expand at a CAGR of over 5% during the forecast period.

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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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