Global $1.8 Bn Oil & Gas Seals Markets to 2025
DUBLIN, Dec. 5, 2019 /PRNewswire/ -- The "Oil & Gas Seals Market by Shore Type, by Material Type, by Application Type, by Motion Type, by Product Type, and by Region, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The market is estimated to grow at a healthy rate over the next five years to reach US$ 1,801.5 million in 2025.
After publishing several reports on seals, such as aircraft seals market, pipe seals market, and medical/life science seals market, the author has come up with another exclusive market report on the oil & gas seals market.
Oil & Gas Seals Market report provides the thoroughgoing market analysis by providing the 12-year analysis (trend period: 2014-2019 and forecast period: 2020-2025) at the global, regional, and country-level. Also, the report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Oil & Gas Seals Market: Highlights
Seals in the oil & gas industry are used in different applications including drilling, completion, production, and distribution & refinery. Oil & gas exploration and extraction exhibit challenging conditions for seals, such as extreme temperature, high pressure, and aggressive chemicals and gases. Seals need to withstand high pressure, high temperature, rapid gas decompression, explosive decompression, aggressive chemicals, and highly abrasive and corrosive environments. Hence, rapid gas decompression tests, explosive decompression tests, sour test, etc. are required for seals in order to their reliably functioning. Materials used for manufacturing seals for the oil & gas industry must be compliant with industry standards such as ISO, NORSOK, and API.
The global oil & gas seals market is projected to offer healthy growth opportunities in the entire ecosystem of the market. Increasing oil & gas demand, recovering crude oil prices, increasing well-drilling activities, careen recovery in worldwide rig counts, and advancements in sealing products to meet challenging environments are some key factors that drive the demand for seals in the oil & gas industry.
The market is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain a leading position in the market. For instance; on Feb 2019, Saint-Gobain S.A. strengthened its high-performance solution portfolio by acquiring American Seal and Engineering Co., Inc, latter supplies seals for various industries including oil & gas.
Seals used in the oil & gas industry are made of a wide range of materials including NBR/HNBR, FKM, FFKM, PTFE, PEEK, etc. This selection of sealing material depends on various parameters including sealing efficiency, temperature resistance, environmental conditions, reliability, longevity, durability, and cost. Elastomers, which majorly include NBR/HNBR, FKM, and FFKM, are likely to remain dominant materials for sealing applications in the oil & gas industry in the coming five years.
Based on the application type, the market is segmented as drilling, completion, production, and distribution & refinery. Production is expected to remain the largest segment of the oil & gas seals market during the forecast period, propelled by usage of seals in various application areas such as, blow-out preventers (BOPs), connector seals, downhole and intervention tools, flow control equipment (ball valves and associated devices), FPSO swivels, gas lifts, and offshore topside hydraulics. All other application types are also estimated to generate sizeable growth opportunities in the coming five years.
Based on the product type, the market is segmented as O-rings, U-cup seals, back-up rings, spring energized seals and others. O-ring is expected to remain the largest segment of the market during the forecast period. O-rings are the most popular seal type and are preferred in many applications. These seals are simple to install and require less installation space.
In terms of regions, North America is projected to remain the largest market during the forecast period, whereas Asia-Pacific is expected to remain the fastest-growing market during the same period. The USA is likely to remain the largest market in North America as well as the global marketplace, whereas China is set to remain the fastest-growing market worldwide in years to come.
The supply chain of this market comprises raw material suppliers, oil & gas seals manufacturers, distributors, component manufacturers, and end-users.
Development of extrusion-resistant and high-pressure and high-temperature-resistant seals, building excellent distribution networks especially in untapped markets, and formation of strategic alliances are the key strategies adopted by the key players to gain a competitive edge in the market.
Key Topics Covered:
1. Executive Summary
2. Oil & Gas Seals Market Overview and Segmentation
2.1. Introduction
2.2. Oil & Gas Seals Market Segmentation
2.3. Supply Chain Analysis
2.4. Industry Life Cycle Analysis
2.5. PEST Analysis
2.6. SWOT Analysis
3. Oil & Gas Seals Market Assessment
3.1. Insights
3.2. Oil & Gas Seals Market Trend and Forecast (US$ Million)
3.3. Profitability Analysis
3.4. Oil & Gas Seals Market - Segments Analysis (US$ Million)
3.5. Oil & Gas Seals Market - Regional and Country-Level Analysis (US$ Million)
3.6. Market Drivers
3.7. Market Challenges
3.8. Industry Personnel/Expert Opinion
4. Competitive Analysis
4.1. Insights
4.2. Product Portfolio Analysis
4.3. Geographical Presence
4.4. New Product Launches
4.5. Strategic Alliances
4.6. Market Share Analysis
4.7. Porter's Five Forces Analysis
5. Oil & Gas Seals Market Trend and Forecast by Shore Type (2014-2025)
5.1. Insights
5.2. Onshore: Regional Trend and Forecast (US$ Million)
5.3. Offshore: Regional Trend and Forecast (US$ Million)
6. Oil & Gas Seals Market Trend and Forecast by Material Type (2014-2025)
6.1. Insights
6.2. Elastomers: Regional Trend and Forecast (US$ Million)
6.2.1. NBR/HNBR: Oil & Gas Seals Market Trend and Forecast (US$ Million)
6.2.2. FKM/FFKM: Oil & Gas Seals Market Trend and Forecast (US$ Million)
6.2.3. Others: Oil & Gas Seals Market Trend and Forecast (US$ Million)
6.3. Thermoplastics: Regional Trend and Forecast (US$ Million)
6.3.1. PEEK: Oil & Gas Seals Market Trend and Forecast (US$ Million)
6.3.2. PTFE: Oil & Gas Seals Market Trend and Forecast (US$ Million)
6.3.3. Others: Oil & Gas Seals Market Trend and Forecast (US$ Million)
6.4. Others: Regional Trend and Forecast (US$ Million)
7. Oil & Gas Seals Market Trend and Forecast by Application Type (2014-2025)
7.1. The author's Insights
7.2. Drilling: Regional Trend and Forecast (US$ Million)
7.3. Completion: Regional Trend and Forecast (US$ Million)
7.4. Production: Regional Trend and Forecast (US$ Million)
7.5. Distribution & Refinery: Regional Trend and Forecast (US$ Million)
8. Oil & Gas Seals Market Trend and Forecast by Motion Type (2014-2025)
8.1. Insights
8.2. Static Seals: Regional Trend and Forecast (US$ Million)
8.3. Linear Seals: Regional Trend and Forecast (US$ Million)
8.4. Rotary Seals: Regional Trend and Forecast (US$ Million)
9. Oil & Gas Seals Market Trend and Forecast by Product Type (2014-2025)
9.1. Insights
9.2. O-Rings: Regional Trend and Forecast (US$ Million)
9.3. U-Cup Seals: Regional Trend and Forecast (US$ Million)
9.4. Back-Up Rings: Regional Trend and Forecast (US$ Million)
9.5. Spring Energized Seals: Regional Trend and Forecast (US$ Million)
9.6. Others: Regional Trend and Forecast (US$ Million)
10. Oil & Gas Market Trend and Forecast by Region (2014-2025)
11. Strategic Growth Opportunities
11.1. Insights
11.2. Market Attractiveness Analysis
11.2.1. Market Attractiveness by Shore Type
11.2.2. Market Attractiveness by Material Type
11.2.3. Market Attractiveness by Application Type
11.2.4. Market Attractiveness by Motion Type
11.2.5. Market Attractiveness by Product Type
11.2.6. Market Attractiveness by Region
11.2.7. Market Attractiveness by Country
11.3. Emerging Trends
11.4. Growth Matrix Analysis
11.5. Key Success Factors (KSFs)
12. Company Profile of Key Players
12.1. EnPro Industries, Inc.
12.2. Flowserve Corporation
12.3. Freudenberg group
12.4. Ge Mao Rubber Industrial Co., Ltd.
12.5. Greene Tweed & Co.
12.6. John Crane, Inc. (Subsidiary of Smiths Group Plc)
12.7. Parker Hannifin Corporation
12.8. Precision Polymer Engineering
12.9. Saint-Gobain S.A
12.10. Trelleborg AB
For more information about this report visit https://www.researchandmarkets.com/r/ocu04i
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article