Global Polymer Seals Market Is Anticipated To Add 1.7x Times Value By 2031
Polymer seals find wide application across industries such as transportation equipment, automotive, aircraft, railroad, machinery, marine, electronics, healthcare, oil & gas, and various others. Fluoro-rubber (FKM) and polytetrafluoroethylene (PTFE) are the most widely-used materials as far as polymer seals are concerned. Demand is especially high from sectors such as transportation equipment and oil & gas, and these two sectors are set to lead over the coming years as well.
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Key Takeaways from Market Study
- The global polymer seals market is anticipated to add 1.7X times value by 2031.
- Oil & gas end-use expected to capture highest share and is set to create US$ 5.5 Bn opportunity over the forecast period.
- Hydraulic and pneumatic seals are the fastest-growing types, owing to rapid growth of inclusion in transportation equipment end use across the globe.
- Europe is set to dominate market revenue in 2021 and is expected to gain 137 BPS in its market share by 2031.
- The aftermarket sales channel is projected to create an absolute $ opportunity of US$ 2 Bn over the forecast period, but lose 173 BPS in its market share by 2031.
- East Asia and South Asia & Oceania are key regional market expected to grow at a high pace over the long term and gain 227 BPS and 98 BPS, respectively, by 2031.
- As far as countries are concerned, the market in Germany, China, and India is set to expand at over 7% CAGR, each, through 2031.
- Due to the onset of COVID-19, the market saw a dismal growth rate of -2.6% in 2020.
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
- Polymer Seals for Transportation Equipment
- Sales Channel
- OEMs
- After Market
- Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa