High Performance Seals Market to Grow at a CAGR of 4.0% to reach US$ 10,426.16 Million from 2020 to 2028

High-Performance Seals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type ( Hydraulic and Fluid Seals, Rotary Shaft Seals, Spring Seals, Oilfield Seals, Pump Seals, Others); End-Use Industry ( Oil and Gas, Chemical, Power Generation, Aerospace and Defense, Pharmaceutical, Automotive, Food and Beverage, Others ), and Geography

Publication Month : Jul 2021

  • Report Code : TIPRE00023241
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 168
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The high-performance seals market was valued at US$ 7,920.82 million in 2020 and is projected to reach US$ 10,426.16 million by 2028; it is expected to grow at a CAGR of 4.0% from 2021 to 2028. 

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. High-performance seals are highly utilized by various end-user industries such as chemical, automotive, oil & gas, aerospace & defense, pharmaceutical, construction, and many others.

The high-performance seals market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. 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 rapid industrial development, along with significant rise in foreign direct investments, and increasing expenditure toward research and development activities. These factors are altogether 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.

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. For instance, as per an article published by the Aerospace Manufacturing Magazine in January 2021, a decline of 54% in deliveries of aircraft was registered compared to the previous year. Similarly, the growth of power generation sector was also impacted by the pandemic leading to reduced demand, financial stress, and disruptions to the power supply chain as highlighted by the International Finance Corporation. The significant decline in the growth of the several industrial sectors negatively impacted the demand for high-performance seals in the global market. The significant disruptions in terms of sourcing of raw materials from suppliers, as well as 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.

High Performance Seals Market

High Performance Seals Market
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Market Insights

Rising Demand for High-Performance Seals from Automotive Industry Fuel High Performance Seals  Market Growth

Automotive manufacturers demand new and innovative high-performance material to be used in automotive components. The automotive industry is witnessing a monumental transformation across the world owing to rapid urbanization, rise in disposable income, and shift in consumer lifestyle. Further, the positive impact of globalization, improvements in manufacturing capabilities in developing economies, and incorporation of advanced technology are among the factors bolstering the demand for passenger and commercial vehicles. As per The Economist Intelligence Unit Limited, the sales of new car are expected to witness a rise of 15% by the end of 2021, among which the sales of commercial vehicle may record a rise of 16% by 2021. The high-performance seals are extensively used in various automotive applications such as air conditioning systems, vehicle batteries, braking systems, electronic control units, fuel systems, and ride control systems. Therefore, the rising sales of vehicles drive the demand for high-performance seals material used in automotive components.

The high-performance seals withstand high temperatures in long-distance driving. Furthermore, the imposition of strict carbon emission regulations motivate manufacturers to comply with specifications to help minimize emissions and risk of unexpected downtime, which has further promoted the demand for such seals.

Product Type Insights

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. Seals are either machined or molded and are meticulously engineered utilizing advanced simulation tools. Hydraulic seals are made of a variety of materials such as polyurethane, rubber, or polytetrafluoroethylene (PTFE). These seals offer high resistance from fluid, heat, and wear & tear. 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. These are used in various end-use industries such as aerospace, automotive, agriculture, construction, oil, & gas, marine, and chemicals.

High Performance Seals Market, by Product Type – 2020 and 2028

High Performance Seals Market, by Product Type – 2020 and 2028
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End-Use Industry Insights

Based on end-use industry, the high-performance seals market is segmented into oil & gas, chemical, power generation, aerospace & defense, pharmaceutical, automotive, food and beverage, and others. The chemical segment accounted for the largest market share in 2020, and the oil and gas segment it is expected to register the highest CAGR during the forecast period. High-performance seals are used in various chemical processing applications such as sealing pumps, valves, tanks, and fluid metering devices. The chemical industry consists of a variety of processes and materials requiring individually tailored sealing solutions. These seals ensure that nothing harmful infiltrates into the process. The seals used in the industry can be made of high-quality materials such as polytetrafluoroethylene (PTFE), perfluoroelastomers, and ethylene propylene diene monomer (EPDM). The high-performance seals to be used in the chemical industry require outstanding chemical resistance to various aggressive media, resistance to high and low temperature extremes, and robust mechanical strength. Therefore, the reliability of the sealing systems is a top priority to allow the productive procedures to operate in a completely safe manner.

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High-Performance Seals Market: Strategic Insights

high-performance-seals-market
Market Size Value inUS$ 7,920.82 Million in 2020
Market Size Value byUS$ 10,426.16 Million by 2028
Growth rateCAGR of 4.0% from 2021-2028
Forecast Period2021-2028
Base Year2021
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A few 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 key companies implement the mergers & acquisitions and R&D strategies to expand customer base and gain significant share in the global market, which also allow them to maintain their brand name globally.

Report Spotlights

  • Progressive industry trends in the high-performance seals market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the high-performance seals market from 2019 to 2028
  • Estimation of global demand for high-performance seals 
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook as well as factors driving and restraining the growth of the high-performance seals market
  • Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • Size of the high-performance seals market size at various nodes
  • Detailed overview and segmentation of the market, as well as the high performance seals industry dynamics
  • Size of the high-performance seals market in various regions with promising growth opportunities

High-Performance Seals Market – by Product Type

  • Hydraulic and Fluid Seals
  • Rotary Shaft Seals
  • Spring Seals
  • Oilfield Seals
  • Pump Seals
  • Others

High Performance Seals Market – by End-Use Industry

  • Aerospace & Defense
  • Automotive
  • Oil & Gas
  • Chemical
  • Power Generation
  • Pharmaceutical
  • Food & Beverage
  • Others

Company Profiles

  • 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
  • Trelleborg Sealing Solutions
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type ; End-Use Industry , and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Based on end-use industry, why is the chemical segment is dominating the global market during 2021–2028?

Chemical segment held the largest share in the global high-performance seals market in 2020. High-performance seals are used in various chemical processing applications such as sealing pumps, valves, tanks and fluid metering devices. The chemical industry consists of variety of processes and materials, which require individually tailored sealing solutions. These seals ensure that nothing harmful infiltrates into the process. The high-performance seals to be used in the chemical industry require outstanding chemical resistance to various aggressive media, resistance to high and low temperature extremes, and robust mechanical strength. Therefore, the reliability of the sealing systems is a top priority to allow the productive procedures to operate in a completely safe manner. Additionally, the steady growth in chemical industry is expected to complement the growth of high-performance seals market.

Can you list some of the major players operating in the global high-performance seals market?

The major players operating in the global 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, Trelleborg Sealing Solutions.

Which region is dominating the global high-performance seals market?

In 2020, Asia Pacific contributed to the largest share in the global high-performance seals market. The dominance of the high-performance seals market in this region is primarily attributable to the presence of strong industrial base with prominent manufactures significantly contributing to market growth. High demand of high-performance seals from applications such as oil and gas, automotive, aerospace and defense, and other industries backed by significant growth in end-use industrial bases is stimulating the demand for high-performance seals in regional market. The rise in investment in manufacturing sector across economies further, provides lucrative opportunities for the growth of the high-performance seals market in Asia Pacific. The robust automotive manufacturing base in Asian economies, has supported the growth for high-performance seals to augment regional market growth. Furthermore, favorable policies implemented by the government of India such as Atmanirbhar Bharat, make in India and other such initiatives are expected to create sufficient growth opportunities for the diverse industrial bases, which, in turn, is expected to propel the demand of high-performance seals in the region.

What is driving the growth of the market?

Expanding industrial base propels the demand for high-performance sealing systems. High-performance seals withstand sealing pressures; stress of over 10 p.s.i. (Pound per Square Inch) (0,7 Bar); as well as portray tolerance toward certain solvents, chemicals, and multi-phase fluids. The seals have an ability to endure fluctuating high temperatures, which helps in boosting the performance of an industrial product. In addition, these seals help integrate high-pressure systems as well as prevent the leakage of potentially dangerous and deadly leaks in industrial processes. For instance, Parker is involved in manufacturing and supplying technologically advanced engineered sealing solutions used in aerospace applications, which helps keep pace with aggressive chemicals along with extreme temperatures and pressure conditions. High-performance seals are mostly composed of metal or industrial rubber or even an alloy of both. Hence, such seals are extensively used across various application bases such as oil and gas, chemical, power generation, aerospace and defense, automotive, nuclear, semiconductors, and pharmaceutical, where there are extreme pressure conditions. For instance, Technetics Group offers high-performance seals for the nuclear industry. The seals find applications in the preparation of reactor pressure vessels, control rods, primary pumps, pressurizers, and spent fuel casks; in semiconductor products such as PVD/CVD/etch equipment; in gas/chemical delivery systems; hydrogen-based green energy. These seals perform well in corrosive, stressed, radioactive, ultra-low vacuum, and other such pressure-sensitive environments. With the rising demand for high-performance seals, manufacturers are offering customized solutions to meet industry-specific requirements integrated with environment needs. The development of low-cost sealing solutions, which can be reused, is one such example. For instance, ValveTech offer high-performance static seals, which helps deal with the challenges associated with exceptional leakage at limited cost. Such seals find application in several cryogenic and other application bases. Also, the parts of seals can be reused, and the sealing element can effectively be replaced when worn or damaged. Similarly, high performance seals offered by Technetics Group can be effectively reused in certain cases. The growing demand for technically engineered products along with customized sealing solutions promotes the growth of the high-performance seal’s market.

Based on product type, why is the hydraulic and fluid seals segment is dominating the global market during 2021–2028?

Hydraulic seals are used in hydraulic cylinders to seal the openings between the hydraulic cylinder's various components. Seals are either machined or molded and are meticulously engineered utilizing advanced simulation tools. Hydraulic seals are made of a variety of materials such as polyurethane, rubber, or polytetrafluoroethylene (PTFE). These seals offer high resistance from fluid, heat, and wear & tear. 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. They are used in various end-use industries such as aerospace, automotive, agriculture, construction, oil, and gas, marine, and chemical.

What is the impact of COVID-19 on the growth of global market during 2021–2028?

The ongoing pandemic has drastically altered the status of the industrial sector and have negatively impacted the growth of the high-performance seal market. The implementation of measures to combat the spread of the virus has aggravated the situation and have impacted the growth of several industrial sectors. Industries such as oil and gas, chemical, power generation, aerospace and defense, pharmaceutical, semiconductor, automotive and food and beverage have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. For instance, as per an article published by Aerospace Manufacturing Magazine in January 2021, a decline of 54% in deliveries of aircraft was registered compared to the previous year. Further, the pandemic created a disruption in orders and deliveries along with cancellations and backlog of orders. Similarly, the growth of power generation sector was also impacted by the pandemic leading to reduced demand, financial stress, and disruptions to the power supply chain as highlighted by the International Finance Corporation. The significant decline in the growth of the several industrial sectors negatively impacted the demand for high-performance seals in the global market. The significant disruptions in terms of sourcing of raw materials from suppliers as well as temporarily closures of manufacturing base due to indefinite lockdowns and temporary quarantines have impacted the growth of the market during pandemic period. Nevertheless, as the economies are planning to revive their operations, the demand for high-performance seals is expected to rise globally. Although the focus over just in time production is another concerning factor hindering market growth. The expanding demand of high-performance seals across automotive, aerospace and defense, power generation, oil and gas and other industries along with significant investment by prominent manufacturers is, expected to drive the growth for high-performance seals.

The List of Companies - High-Performance Seals Market

  1. AFT Fluorotec
  2. American High Performance Seals
  3. ElringKlinger Kunststofftechnik GmbH
  4. High Performance Seals
  5. James Walker
  6. Mykin Inc.
  7. Performance Seals, Inc.
  8. PXL SEALS
  9. Precision Polymer Engineering Limited
  10. Trelleborg Sealing Solutions

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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