Carbon seal rings Market is projected to ascend with the growth rate of 3% to 5% during period of 2021 to 2031
According to latest research by Fact.MR, carbon seal rings market is projected to witness healthy growth over the coming decade. Demand for carbon seal rings will witness sharp recovery with optimistic growth outlook in the long-run. The demand from OEMs and aftermarket engineering companies for boosting performance, durability and efficiency is expected to fuel the adoption in various applications such as compressors, fans, turbines, etc.
What is Driving Demand for Carbon Seal Rings Market ?
Evolving end-user demand for self-lubricating and high-performance sealing solutions persistently drives demand for carbon seal rings. Oil & gas industry continue to be a lucrative avenue for manufacturers operating in the market at global or regional levels.
Carbon and graphite materials are creating broad areas of application for seal rings. These materials combine various exceptional advantages and make applications possible under the toughest conditions. Manufacturers are developing specialized carbon-graphite materials infused with synthetic resin and metal for blister resistance or to be functioning in an absolutely dry environment as well. These development are estimated to create an upsurge in sales of carbon seal rings.
These find extensive range of applications for sealing vapour, gases, powders, gaseous mixtures, and water in machines and plants such as compressors, turbines, centrifuges fans, and mills, etc. Which, in turn, is expected to ascend the consumption of carbon seal rings over the forecast period.
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Oil & gas Recovery Likely to Augment Carbon Seal Rings
The onshore and offshore oil & gas industry across the world has witnessed substantial growth in recent decade. This has positively influenced the sales of carbon slip rings. The substantial investments for many planned brownfield and greenfield projects are creating new growth avenues for the market participants.
The characteristics such as dry running capability, resistance to chemicals, good dimensional stability, high thermal conductivity, low thermal expansion coefficient, self-lubrication, etc. are making carbon seal rings highly preferred choice for the consumers.
Regional Market Outlook
US holds prominent share in the global carbon seal rings market. Demand in US will be led by substantial investments in natural gas recovery. For instance, 2020 already witnessed 1 major onshore project Alaska LNG Liquefaction Plant in USA and another in Cameron LNG Liquefaction Plant which is about to start commercial operation in Q3 2020.
Many countries in Europe have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. An increase in Western Europe oil production investments in a healthy manner is anticipated to come up in the near future especially in the offshore areas of U.K. and Norway.
Prevalence of large industrial base in the countries such as China, India, and Japan provides high growth virtues for the market growth. Sizeable increase in the automotive production in these countries is also creating positive prospects for the growth in demand. Many leading global manufacturers are poised on shifting of their manufacturing bases in Asian countries to gain benefits from low cost raw materials and cheap labor.
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Who are the Key Manufacturers and Suppliers of Carbon Seal Rings ?
Some of the leading manufacturers and suppliers of carbon seal rings include
- Trelleborg AB
- James Walker & Co.
- Freudenberg Group
- TREM Engineering SC
- Sinoseal Holding Co. Ltd.
- Arai Seisakusho Co. Ltd.
- NOK Corporation etc.
Leading manufacturers are focused on expansion of their manufacturing facilities along with sales and distribution network in emerging markets across the globe. Brand consciousness and aggressive marketing makes it challenging for new entrants in the market. Furthermore, advent of online sales channel is also expected to create positive growth prospects for the market participants.
An Adaptive Approach to Modern-day Research Needs
Carbon Seal Rings Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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By Product Type
- T-Seals & S-Seals
- V-Ring Packing
- Dry Gas Seals
- Lip Seals
- Metal Bellow Seals
By End Use Industry
- Oil & Gas
- Chemicals & Petrochemicals
- Aerospace & Defense
- Marine & Shipbuilding
- General Manufacturing
- North America
- Latin America
- South Asia & Pacific
- East Asia
- South Korea
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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