The overall demand for high pressure seals recorded a CAGR of 5.3% between 2018 and 2022, totaling around US$ 4,783.4 million by 2022. The global high pressure seal market is expected to be valued at US$ 5,036.9 million in 2023.
The overall demand for high pressure seals is projected to register a CAGR of 5.3% during the period between 2023 and 2033. Furthermore, FMI report estimates the global market value could reach around US$ 8,442.1 million by the end of this forecast period.
High Pressure Seal is a mechanical device used to join high pressure systems, to prevent leaking and behold pressure to ensure smooth flow and safety. High pressure seals are generally made from metals or industrial-grade rubbers.
| Attribute | Details |
|---|---|
| Global High Pressure Seal Market Valuation in 2022 | US$ 4,783.4 million |
| Estimated Global Market Share in 2023 | US$ 5,036.9 million |
| Forecasted Global Market Size by 2033 | US$ 8,442.1 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 5.3% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 5.3% CAGR |
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From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 5.3%. High pressure seals not only provide a mechanism to control high pressures but are fairly robust and can be used at high as well as low temperatures. These seals are prominently used in tube couplings, pressure valves, compressors, and hydraulic pumps, and are widely used across all segments of the oil & gas industry including upstream, midstream, and downstream segments.
Moreover, high pressure seals are increasingly finding more usage in the manufacturing industry amid, rise in complexity of products and safety concerns. The global high pressure seal market is projected to witness a significant growth rate over the forecast period.
The overall demand for high pressure seals is projected to record a CAGR of 5.3% between 2023 and 2033, totaling around US$ 8,442.1 million by 2033.
Growing Pharmaceutical and Manufacturing Industry to Spur Sales
The prime factor driving growth in the global market is the reviving oil and gas industry globally, with gradually rising crude prices, new exploration and drilling activities are anticipated, thus fuelling more demand for high pressure seals, which are used extensively across the entire production chain of petroleum products.
Moreover, the growing pharmaceutical and manufacturing industry is another prime factor driving the demand for high pressure seals. Increasing demand for automotive, amid rising disposable income and improving living standards, is also fuelling more demand for high pressure seals, as they act as an integral part of manufacturing facilities of most automotive components. In addition to this, rising safety norms across all industries and increased attention towards R&D by seal manufacturers are driving replacements of existing high pressure seals and thus, fuelling more revenues to the global market.
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Increase in Operating Cost May Impede the Overall Market Growth
The high capital and operating cost of most high pressure seals is the prime restraint to the growth of the market. Utilization of inexhaustible hotspots for power generation along with expanding utilization of seal less pumps and gland packing limit the development of the high pressure seals market comprehensively.
Moreover, ascend in security standards across all manufacturing enterprises and rise in consideration toward substitutions of existing high pressure seals are obstructing the high pressure seals market.
Technological Innovation across the United States to favor the sales in the region
The North America market is expected to accumulate a market share of 38% in 2022. On a geographic basis, the United States is anticipated to be the one of the leading regional market due to the presence of a lot of exporters. Technological innovation and advancement may further optimize the performance of the product, making it more widely used in various applications.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 23% |
| Germany | 8.6% |
| Japan | 9.5% |
| Australia | 1.6% |
Need for Better Performance to Continue to Drive the Demand
The European region is anticipated to be the second largest market with a share of 31%. The APEJ region is projected to be one of the dominant markets for High Pressure Seal demand, and is anticipated to retain its dominance throughout the forecast period.
This can be directly attributed to the rapidly growing automotive and oil & gas sectors in China. Moreover, the reviving manufacturing and oil & gas industry of Europe and North America, amid new exploration activities in North Sea and Gulf of Mexico coupled with the shale gas boom is also generating new demand arenas, and translating into high demand for high pressure seals from these markets.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| United Kingdom | 3.9% |
| China | 5.9% |
| India | 5.6% |
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Oil & Gas Sector to Boost the Market Growth
The oil & gas industry accounts for the leading share of the overall market and is expected to continue doing so throughout the forecast period. High pressure seals serve the oil & gas industry in upstream, midstream, and downstream segments. Seals in the oil & gas industry are used in pipe couplings, valves, compressors, and hydraulic pumps.
| Category | By Material |
|---|---|
| Top Segment | EPDM |
| Market Share in Percentage | 28% |
| Category | By End User |
|---|---|
| Top Segment | Oil & Gas |
| Market Share in Percentage | 31% |
EPDM to Turn Out as a Dominating Segment
The EPDM (ethylene propylene diene monomer rubber) segment is projected to be the fastest-growing material segment of the market. EPDM-based high pressure seals are used in the power generation industry owing to factors like weather resistance, good low-temperature flexibility, and good heat resistance. In addition to this, increasing electricity demand from growing economies, such as China, India, and Southeast Asian countries may drive the demand.
Prominent players in the market are AES Corporation, Smiths Group Plc, Garlock Sealing Technologies LLC, AB SKF, James Walker & Co, Parker Hannifin Corporation, EagleBurgmann Germany GmbH & Co. KG, Flowserve Corp., and EI du Pont de Nemours & Co.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.3% from 2023 to 2033 |
| Market Value in 2023 | US$ 5,036.9 million |
| Market Value in 2033 | US$ 8,442.1 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Quantitative Units | Revenue in US$ million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material, End Use, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa (MEA) |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | AES Corporation; Smith’s Group Plc.; Garlock Sealing Technologies LLC; AB SKF; James Walker & Co; Parker Hannifin Corporation; EagleBurgmann Germany GmbH & Co. KG; Flowserve Corp.; Performance Sealing Corp.; EI du Pont de Nemours & Co. |
| Customization & Pricing | Available upon Request |
The global high pressure seal market is to grow at 5.3% during the forecast period.
The global market is predicted to be valued at US$ 8,442.1 million by 2033.
The global market was valued at US$ 4,783.4 million in 2022.
The United States accounts for nearly 23% revenue share of the global market.
India is predicted to witness a CAGR of 5.9% in sales of high pressure seals through 2033.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Material, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Material, 2023 to 2033 5.3.1. Metal 5.3.2. Thermoplastic Polyurethane (TPU) 5.3.3. Hydrogenated Nitrile Butadiene Rubber (HBR) 5.3.4. Fluorocarbon-based Synthetic Rubber 5.3.5. Ethylene propylene dyne terpolymer (EPDM) 5.4. Y-o-Y Growth Trend Analysis By Material, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Material, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End Use, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End Use, 2023 to 2033 6.3.1. Oil & Gas 6.3.2. Chemicals 6.3.3. Automotive 6.3.4. Mining 6.3.5. Aerospace 6.3.6. Power Generation 6.3.7. Healthcare 6.3.8. Others 6.4. Y-o-Y Growth Trend Analysis By End Use, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. The USA 8.2.1.2. Canada 8.2.2. By Material 8.2.3. By End Use 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Material 8.3.3. By End Use 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Material 9.2.3. By End Use 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Material 9.3.3. By End Use 9.4. Key Takeaways 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United Kingdom 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Material 10.2.3. By End Use 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Material 10.3.3. By End Use 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Material 11.2.3. By End Use 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Material 11.3.3. By End Use 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Material 12.2.3. By End Use 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Material 12.3.3. By End Use 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Material 13.2.3. By End Use 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Material 13.3.3. By End Use 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Material 14.2.3. By End Use 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Material 14.3.3. By End Use 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Material 15.1.2.2. By End Use 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Material 15.2.2.2. By End Use 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Material 15.3.2.2. By End Use 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Material 15.4.2.2. By End Use 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Material 15.5.2.2. By End Use 15.6. United Kingdom 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Material 15.6.2.2. By End Use 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Material 15.7.2.2. By End Use 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Material 15.8.2.2. By End Use 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Material 15.9.2.2. By End Use 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Material 15.10.2.2. By End Use 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Material 15.11.2.2. By End Use 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Material 15.12.2.2. By End Use 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Material 15.13.2.2. By End Use 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Material 15.14.2.2. By End Use 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Material 15.15.2.2. By End Use 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Material 15.16.2.2. By End Use 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Material 15.17.2.2. By End Use 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Material 15.18.2.2. By End Use 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Material 15.19.2.2. By End Use 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Material 15.20.2.2. By End Use 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Material 15.21.2.2. By End Use 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Material 15.22.2.2. By End Use 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2022 15.23.2.1. By Material 15.23.2.2. By End Use 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Material 16.3.3. By End Use 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. AES Corporation 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Smith’s Group Plc. 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Garlock Sealing Technologies LLC 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. AB SKF 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. James Walker & Co 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Parker Hannifin Corporation 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. EagleBurgmann Germany GmbH & Co. KG 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Flowserve Corp. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. Performance Sealing Corp. 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. EI du Pont de Nemours & Co. 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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High Pressure Seal Market
