Aftermarket Sales of Acrylonitrile-butadiene-rubber (NBR) Polymer Seals Is Projected to Create an Absolute $ Opportunity of US$ 2 Bn over the Forecast Period

As per Fact.MR analysis, the global sales of polymer seals is set to experience a healthy CAGR of close to 6% throughout the forecast period of 2021 to 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.

Shift in trade winds has been observed over the past-half decade where a number of industries have been opening production facilities in South Asia and East Asia. Low labour cost and effective incentives to shift the cost curves to lower side of production have attracted European manufacturers in setting up their plants in the region. European companies dealing in automotive, healthcare, equipment manufacturing, and others have created a strong footprint in developing nations. This is set to enhance demand for polymer seals in the region as they are widely used across these industries.

“ Rising spending in research & development to bring future growth possibilities for manufacturers from various end-use sectors,” says a Fact.MR analyst.

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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.

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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
• Sales Channel
  • OEMs
  • After Market
• Region
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

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Fragmented High Potential Market: Competition Tuning Factor

Key manufacturers of polymer seals are Saint Gobain, SKF AB, Eriks NV, Trelleborg, Bal Seal, Meggit, Parker Hannifin, Advanced Seals & Gaskets Ltd., DLI Seals Ltd., Greene-Tweed, Herzog Dichtungen AG, SHS-Dichtungen-GmbH, Specialised Polymer Engineering Ltd., TRP Polymer Solutions Ltd., Chesterton, Carco, and Novotema. The market is fragmented with a number of manufacturers positioned in tier-2 and tier-3, aggregately capturing more than 75% of the market share.

Rising potential of polymer seals is set to create avenues for tier-2 and tier-3 players over the long-run forecast period. Moreover, ease of manufacturing polymer seals with minor technical barriers will encourage new players to enter this market space.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global polymer seals market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of material (polyurethane, acrylonitrile-butadiene-rubber, fluoro-rubber, polytetrafluoroethylene, and other material types), product (hydraulic and pneumatic seals, rotary seals, and spring energised seals), end use (transportation equipment [automotive and components, aircraft and components, railroad equipment, marine transportation and components], industrial machinery and equipment, electronic apparatus and appliances, healthcare [medical devices and component manufacturing, surgical tool manufacturing], oil and gas extraction, construction infrastructure and utilities, MRO & other manufacturing and assembly), and sales channel (OEMs and aftermarket), across six major regions of the world (North America, Latin America. Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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