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The Insight Partners’s latest offering, High-Performance Seals Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type; End-Use Industry, and Geography. The High-Performance Seals market share growth in US by the unflavored segment will be significant for revenue generation. The High-Performance Seals market in US is expected to increase by US$ 10,426.16 million from 2020 to 2028 at a CAGR of 4.0% as per the latest market report by The Insight Partners. Marine Engine Gasket Sets
High-performance seals are used against high-pressure gases and liquid chemicals to withstand mechanical deformation. Seals are either machined or molded and are carefully designed using sophisticated simulation software. Seals are made of a variety of materials, such as polyurethane, rubber, or polytetrafluoroethylene (PTFE). High-performance seals are of different types such as hydraulic seals, rotary shaft seals, oil seals, packings, gaskets and other high-performance rubber and plastic parts. High-performance seals offer high resistance from fluid, heat, and wear & tear. These are highly utilized by various end-user industries such as chemical, automotive, oil & gas, aerospace & defense, pharmaceutical, and construction.
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A few key players operating in the high-performance seals market are AFT Fluorotec; American High Performance Seals; ElringKlinger Kunststofftechnik GmbH; High Performance Seals; James Walker; Mykin Inc.; Performance Seals, Inc.; PXL SEALS; Precision Polymer Engineering Limited; and Trelleborg Sealing Solutions.
The overall size of the global high-performance seals market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the high-performance seals market.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the High-Performance Seals market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the High-Performance Seals market segments and regions.
Impact of COVID-19 Pandemic on High- Performance Seals Market
The ongoing pandemic has drastically altered the status of the industrial sector and has negatively impacted the growth of the high-performance seal market. Industries such as oil & gas, chemical, power generation, aerospace & defense, pharmaceutical, semiconductor, automotive, and food & beverages have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international boundaries. The significant disruptions in terms of sourcing of raw materials from suppliers and temporary closure of manufacturing bases due to indefinite lockdowns and temporary quarantines have impacted the growth of the market. Nevertheless, as the economies are planning to revive their operations, the demand for high-performance seals is expected to rise globally. The increasing demand for high-performance seals across automotive, aerospace & defense, power generation, oil & gas, and other industries, along with significant investment by prominent manufacturers is, expected to drive its market growth.
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Based on product type, the high-performance seals market is segmented into hydraulic and fluid seals, rotary shaft seals, spring seals, oilfield seals, pump seals, and others. The hydraulic and fluid seals segment accounted for the largest market share in 2020, and it is expected to register the highest CAGR during the forecast period. Hydraulic seals are used in hydraulic cylinders to seal the openings between the cylinder’s various components. The major tasks of hydraulic seals are to retain hydraulic fluids, maintain rod and pistons alignment, exclude solid or liquid contaminations, and maintain the hydraulic pressure.
Based on region, the high-performance seals market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. In 2020, Asia Pacific accounted for the largest share in the market. The growth of the market in this region is mainly attributed to factors such as the significant growth in chemicals, automotive, oil & gas, and aerospace & defense. The region provides ample opportunities for the growth of the market owing to the rapid industrial development, along with significant rise in foreign direct investments and increasing expenditure toward research and development activities. These factors are together expected to diversify the application base of high-performance seals and also drive the market growth. Furthermore, the rapid development of manufacturing base, backed by improved economic activities and better investment opportunities, is promoting the growth of high- performance seals in Asia Pacific market. China is dominating the regional market, followed by other countries such as Japan, India, and South Korea.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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Contact Person: Sameer Joshi E-mail: [email protected] Phone: +1-646-491-9876
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