The global polymer seals market was estimated to have reached a value of USD 11.3 billion in 2022. From 2022 to 2032, the market is projected to expand at a CAGR of 5.1% to reach a valuation of USD 18.7 billion in 2032.
Polymer seals are used for manufacturing subsea equipment, turret swivel stack systems, production and exploration equipment, and transfer systems.
Manufacturing these products is challenging due to their diameter, pressure, and temperature requirements. However, polymer seals can meet these requirements. According to Future Market Insights (FMI), the global market for polymer seals is set for steady acceleration due to increased manufacturing of the products mentioned above.
The space industry also needs polymer seals for aiding spacecraft functionality. For instance, the spacecraft’s payload systems, propulsion, regulators, main oxygen and fuel valves, and ground support equipment all need polymer seals to function properly.
Estimates suggest that the industry is set to generate revenue surpassing USD 1 trillion by 2040. This is another key factor that is likely to fuel demand for polymer seals from 2022 to 2032.
Particular types of polymer seals, such as Polytetrafluoroethylene (PTFE), Fluoro-rubber (FKM), Acrylonitrile-butadiene-rubber (NBR), and Polyurethane (PU), are anticipated to generate considerable sales. These polymer seal types offer properties such as resistance to corrosion and high temperatures and tensile strength, which are advantageous for diverse applications across multiple industries.
Commercial and defense aviation sectors are also poised to drive demand for polymer seals. In developing economies such as India and China, investments in the defense sector are set to increase in the coming years due to geopolitical conditions.
This is likely to increase polymer seal sales. In the commercial aviation sector, business is expected to boom between 2022 and 2032 as air travel is set to become more accessible and affordable. This is also anticipated to have a positive impact on the polymer seals market.
Government initiatives are also likely to contribute to the expansion of the market for polymer seals. However, their contributions are projected to vary between different countries owing to variations in the stances of respective governments towards polymer seal use.
While certain governments are set to promote the use of polymer seals through policies aimed at industrial expansion, others may not be as encouraging. This is due to the fact that the production of polymer seals generates considerable pollution. Governments aiming to reduce industrial pollution for a cleaner and greener environment are expected to introduce stringent regulations for keeping polymer seal production in check. This is likely to impact the polymer seals market adversely.
| Attribute | Key Insights |
|---|---|
| Estimated Polymer Seals Market Value (2022) | USD 11.3 billion |
| Projected Market Value (2032) | USD 18.7 billion |
| Value-based CAGR (2022 to 2032) | 5.1% |
| Top Players Share in 2021 | 42.9% |
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From 2017 to 2021, the global polymer seals market expanded at a sluggish CAGR of around 2.1%. Compared to this, the expected 5.1% CAGR between 2022 and 2032 reflects a considerable increase in market acceleration.
Polymer seals are crucial in the global oil & gas sector for efficiently constructing effective oil field platforms, supplying and transferring produced oil internally, and sending out processed oils. From 2022 to 2032, the surge of worldwide oil and gas activities looks inevitable. As a result, sales of polymer seals are likely to be boosted.
The market for polymer seals is also poised to expand due to the expansion of the automobile sector from 2022 to 2032. Automobile manufacturers are increasingly focusing on producing lightweight and efficient vehicles with low carbon footprints.
As a result, OEMs are incorporating polymer seals into their vehicles, fueling global demand for polymer seals. For their manufacturing and production processes, where only high-performance materials are effective, the automotive industry companies are increasing the adoption of specialized seals.
The polymer seals market is also set to be accelerated by the production of new aircraft and maintenance, repair, and overhaul (MRO) services flourishing in the aerospace and defense industries. Compared to prior post-COVID projections, trends in commercial air travel and customer order activity are in much better shape in 2023, which is encouraging for the aerospace sector.
New technologies, increasing merger and acquisition (M&A) activity, and evolving business models, are likely to accelerate the shift toward digital and operational efficiencies. Maintenance and equipment manufacturers involved in the production of military vehicles, submarines, surface vessels, and commercial and military aircraft are driving demand for polymer seals.
Availability of Alternative Products Might Limit the Polymer Seals Demand
The market for polymer seals is being impacted by the increasing popularity of substitutes such as butyl tape. Several small-scale customers make their very own handmade butyl tape to use as a sealant.
Handmade butyl tape is known to be less effective than polymer seals, but it still works well for small-scale consumers. In several workplaces, the use of wood-based glue is also gaining traction and gradually replacing sealants. Polymer seal market expansion is also being impacted by the increasing use of superglue.
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Product Development Driven by High Standards Required in Oil & Gas Industry
In the oil & gas sector, sealing solutions are utilized for a variety of tasks including drilling, production, distribution, and processing. Extreme temperatures, high pressures, and hostile chemicals and gases present challenging circumstances for seals during oil & gas exploration and extraction.
High temperatures and pressures, explosive and rapid gas decompression, extremely corrosive environments, and harsh chemicals are all conditions that seals must survive. As a result, polymer seals must undergo several trials, which are aimed at guaranteeing their reliable operation.
Materials used in the production of polymer seals must adhere to industry standards set by organizations such as the American Petroleum Institute (API), International Organization for Standardization (ISO), Norsk Sokkels Konkurranseposisjon (NORSOK), and National Association of Corrosion Engineers (NACE).
The USA Market to Dominate the Sales of Polymer Seals
In 2022, the USA polymer seals market is expected to register 4.3% Y-on-Y growth by volume in North America. The USA market is projected to witness steady expansion from 2022 to 2032 due to the anticipated development of new and innovative products.
The USA is expected to be the flag bearer of market expansion owing to the presence of several automotive and aircraft manufacturers. The country also has a booming healthcare sector. Key players are launching newer products targeting the aircraft segment offering better reliability and operational flexibility, which is anticipated to play a vital role in boosting the market. FMI expects the USA market to surpass a valuation of USD 104.5 billion in 2032.
Counterfeit Products Anticipated to Limit Market Expansion in the United Kingdom
FMI expects the United Kingdom market for polymer seals to accelerate from 2022 to 2032 owing to the strong presence of airline companies. British Airways, Virgin Atlantic, Jet2.com, and TUI Airways are among the most prominent players in the United Kingdom aviation sector. In the years ahead, these companies are expected to generate significant demand for polymer seals to improve the safety of airplanes.
However, right now, the United Kingdom market for polymer seals is experiencing shortages of fluoropolymers. These shortages have paved the way for polymer fakes to enter the market. FMI believes that polymer seal buyers need to be careful due to the prevailing conditions and assess the products’ ISO9001 certification prior to purchase.
Automobile Industry to Surge Demand for Polymer Seals in Germany
Germany is predicted to be among the most dominant polymer seals markets between 2022 to 2032. Expert analysts at FMI anticipate considerable expansion of Germany market due to two critical factors. For starters, Germany is home to multiple reputed companies that specialize in polymer seal production and exports such as Seal Concept GmbH Dichtungen & Hydraulik and Germanbase.
The country is also renowned globally for its automobile industry, which is home to the likes of Audi, Mercedes-Benz, Porsche, Volkswagen, and BMW. As these companies focus on efforts to increase their production capacity, Germany polymer seals market is expected to experience significant sales in the coming years.
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Applications in the Creation of Aircraft and Components to Dominate the Market for Polymer Seals
The market is poised to experience significant expansion due to the accelerating aviation sector. For instance, by 2030, predictions from the IATA or the International Air Transport Association suggest that India will overtake China and the USA to become one of the most lucrative air passenger markets on the planet.
Polymer seals are crucial for ensuring the safe functionality of aircraft components. As a consequence, this is fueling both the market's and segment's expansion. The aircraft and components segment is projected to create an absolute dollar opportunity of USD 689.0 billion between 2022 and 2032.
Hydraulic and Pneumatic Polymer Seals to Have Considerable Market Share
Based on product type, hydraulic and pneumatic seals are projected to create an absolute dollar opportunity of USD 3.7 billion between 2022 and 2032. Hydraulic and pneumatic seals are types of polymer seals that are mainly used for various applications with rotary or reciprocating motions.
There are varieties of hydraulic and pneumatic seals depending on the industry type and application. Piston seals, wipers, and o-rings are examples of hydraulic and pneumatic seals. These seals are frequently used across textile Machines, amusement Park machines, printers, die casters, and coal mining equipment.
In recent years, increasing acquisition and expansion activities have been observed to improve the supply chain of polymer seals. Key manufacturers provide a wide range of polymer seals depending on customers’ specific requirements and along with customized services for every customer. The emergence of new manufacturers has also been witnessed in this space and this trend is likely to continue from 2022 to 2032.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 11.3 billion |
| Projected Market Size (2032) | USD 18.7 billion |
| Anticipated Growth Rate (2022 to 2032) | 5.1% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia Pacific; and the Middle East and Africa |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, Italy, France, The United Kingdom, Spain, BENELUX, Russia, Turkey, South Africa, GCC Countries, Northern Africa, Japan, China, South Korea, India, Association of Southeast Asian Nations, Australia, New Zealand. |
| Key Segments Covered | Material Type, Product Type, End Use, Sales Channel, Region |
| Key Companies Profiled | Saint-Gobain; ERIKS Group; SKF AB; Precision Polymer Engineering/IDEX; Trelleborg AB; Bal Seal Engineering; Parker Hannifin Corporation; Advanced Seals & Gaskets Ltd.; Greene Tweed; TRP Polymer Solutions Ltd.; Specialised Polymer Engineering Ltd.; SHS Dichtungen GmbH; A.W. Chesterton Company; Carco Precision Rubber Products Spa; Novotema Spa |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities, and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market valued at USD p 11.3 billion in 2022.
Saint-Gobain, ERIKS Group, and SKF AB are the key market players.
The market is forecast to register a CAGR of 5.1% through 2032.
The market registered a CAGR of 2.1% from 2017 to 2021.
Increasing use across diverse industries such as oil & and gas, is encouraging sales.
1. Executive Summary | Polymer Seals Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Material Type 9.1. Polyurethane (PU) 9.2. Acrylonitrile-butadiene-rubber (NBR) 9.3. Fluoro-rubber (FKM) 9.4. Polytetrafluoroethylene (PTFE) 9.5. Other Material Types 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 10.1. Hydraulic and pneumatic seals 10.2. Rotary Seals 10.3. Spring Energised Seals 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use 11.1. Transportation Equipment 11.1.1. Automotive and Components 11.1.2. Aircraft and Components 11.1.3. Railroad Equipment 11.1.4. Marine Transportation and Components 11.2. Industrial Machinery and Equipment 11.3. Electronic Apparatus and Appliances 11.4. Healthcare 11.4.1. Medical devices and Component Manufacturing 11.4.2. Surgical tool manufacturing 11.5. Oil and Gas Extraction 11.6. Construction Infrastructure and Utilities 11.7. MRO, Other Manufacturing and Assembly 12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Sales Channel 12.1. OEM 12.2. Aftermarket 13. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 13.1. North America 13.2. Latin America 13.3. Europe 13.4. East Asia 13.5. South Asia and Pacific 13.6. Middle East and Africa (MEA) 14. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 19. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 20. Emerging Countries Market Analysis 21. Market Structure Analysis 22. Competition Analysis 22.1. Saint-Gobain 22.2. SKF AB 22.3. ERIKS Group 22.4. Precision Polymer Engineering/IDEX 22.5. Trelleborg AB 22.6. Bal Seal Engineering 22.7. Parker Hannifin Corporation 22.8. Advanced Seals & Gaskets Ltd. 22.9. Greene Tweed 22.10. SHS Dichtungen GmbH 22.11. Specialised Polymer Engineering Ltd. 22.12. TRP Polymer Solutions Ltd. 22.13. A.W. Chesterton Company 22.14. Carco Precision Rubber Products Spa 22.15. Novotema Spa 23. Assumptions and Acronyms Used 24. Research Methodology
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Polymer Seals Market
