Global oil & gas processing seals market was valued at USD 5.9 billion in 2019 and is expected to cross USD 7.2 billion by 2025, with a CAGR of 3.1 %.
Global Oil & Gas Processing Seals Industry: Overview
Oil & Gas Processing Seals help in preventing leakage of oil and gas and can withstand extreme temperatures. The oil and gas seals are deployed on mixers and pumps for eliminating chances of gases and liquids leakage. These seals help in providing extended service life and low friction for applications that make use of extreme pressure over an extensive temperature range.
Global oil & gas processing seals market was valued USD 6,219 million in 2019 and is likely to reach USD 7,700 million by 2026 with a CAGR of 3.1%.
Global Oil & Gas Processing Seals Industry: Growth Factors
The large-scale shale gas production in emerging as well as industrialized countries are likely to chart a favorable trajectory for the oil & gas processing seals market. These products have gained massive popularity across the globe, owing to their inherent property of enduring high temperature. With the double seals devised for both static and dynamic uses, the oil & gas processing seals market is likely to gain traction in the years ahead. Rampant use of the products such as the double seal for preventing leakage will generate lucrative growth avenues for oil & gas processing seals industry. Favorable characteristics such as the ability of the products to resist extreme weather conditions as well as its capacity to offer protection against rusting, chemical resistance, cryogenic situations, and radiation will contribute remarkably towards the growth of oil & gas processing seals market in the years ahead. Furthermore, the growth of the oil & gas processing seals market can be credited to the massive use of these products in the upstream, midstream, and downstream applications. Nonetheless, the introduction of new packaging seals such as seal-less pumps will majorly obstruct the production as well as the market earnings.
Global Oil & Gas Processing Seals Industry: Segmentation
The oil & gas processing seals industry can be divided into the material, type, and application. Based on the material, the market is sectored into metals, face materials, elastomers, and others. On the basis of type, the oil & gas processing seals market is divided into the single seal and double seal. Application wise, the market is classified into upstream, downstream, and midstream.
Global Oil & Gas Processing Seals Industry: Regional Analysis
The oil & gas processing seals market in the Asia Pacific is anticipated to record a humungous growth, subject to escalating product demand across the oil & gas as well as chemicals & petrochemicals industries in the APAC region. The Middle East and African region are slated to contribute notably towards the oil & gas processing seals market share over the estimated timeline, owing to a rise in production facilities. Additionally, ongoing technological breakthroughs in the region resulting in large-scale use of the products will further boost the regional market trends. North America and Europe markets are anticipated to witness lucrative growth over the ensuing years. Furthermore, Latin America oil & gas processing seals market have huge untapped growth potential and will contribute remarkably towards the business sphere over the coming years.
Global Oil & Gas Processing Seals Industry: Competitive Players
Some of the major participants operating in oil & gas processing seals industry include Precision Polymer Engineering (UK), Freudenberg Group (Germany), Parker Hannifin Corp (U.S.), John Crane (U.S.), Flowserve Corporation (U.S.), Barnwell Services Limited (UK), Solenis (U.S.), Saint-Gobain (France),and DuPont (U.S.).
Global Oil & Gas Processing Seals Market: Regional Segment Analysis
List of Figures
FIG. 1 Research Methodology
FIG. 2 Research Methodology – Basic Overview
FIG. 3 Research Methodology – Detailed View
FIG. 4 Global Oil & Gas Processing Seals Market Revenue, 2016 - 2026 (USD Million)
FIG. 5 Porter’s Five Forces Analysis for Global Oil & Gas Processing Seals Market
FIG. 6 Global Oil & Gas Processing Seals Market Attractiveness, By Type
FIG. 7 Global Oil & Gas Processing Seals Market Attractiveness, By Material
FIG. 8 Global Oil & Gas Processing Seals Market Attractiveness, By Application
FIG. 9 Global Oil & Gas Processing Seals Market Attractiveness, By End-User
FIG. 10 Company Share Analysis, 2019
FIG. 11 Global Oil & Gas Processing Seals Market Revenue Share, by Type, 2019 & 2026
FIG. 12 Global Oil & Gas Processing Seals Market for Single Seal, Revenue (USD Million) 2016 - 2026
FIG. 13 Global Oil & Gas Processing Seals Market for Double Seal, Revenue (USD Million) 2016 - 2026
FIG. 14 Global Oil & Gas Processing Seals Market Revenue Share, by Material, 2019 & 2026
FIG. 15 Global Oil & Gas Processing Seals Market for Metals, Revenue (USD Million) 2016 - 2026
FIG. 16 Global Oil & Gas Processing Seals Market for Face Materials, Revenue (USD Million) 2016 - 2026
FIG. 17 Global Oil & Gas Processing Seals Market for Elastomers, Revenue (USD Million) 2016 - 2026
FIG. 18 Global Oil & Gas Processing Seals Market for Others, Revenue (USD Million) 2016 - 2026
FIG. 19 Global Oil & Gas Processing Seals Market Revenue Share, by Application , 2019 & 2026
FIG. 20 Global Oil & Gas Processing Seals Market for Upstream, Revenue (USD Million) 2016 - 2026
FIG. 21 Global Oil & Gas Processing Seals Market for Downstream, Revenue (USD Million) 2016 - 2026
FIG. 22 Global Oil & Gas Processing Seals Market for Midstream, Revenue (USD Million) 2016 - 2026
FIG. 23 Global Oil & Gas Processing Seals Market Revenue Share, by Region, 2019 & 2026
FIG. 24 North America Oil & Gas Processing Seals Market Revenue, 2016 - 2026 (USD Million)
FIG. 25 Europe Oil & Gas Processing Seals Market Revenue, 2016 - 2026 (USD Million)
FIG. 26 Asia Pacific Oil & Gas Processing Seals Market Revenue, 2016 - 2026 (USD Million)
FIG. 27 Latin America Oil & Gas Processing Seals Market Revenue, 2016 - 2026 (USD Million)
FIG. 28 The Middle-East and Africa Oil & Gas Processing Seals Market Revenue, 2016 - 2026 (USD Million)
FIG. 29 Precision Polymer Engineering Business Segment Revenue Share, 2018 (%)
FIG. 30 Precision Polymer Engineering Geographical Segment Revenue Share, 2018 (%)
List of Tables
TABLE 1 Global Oil & Gas Processing Seals Market: Snapshot
TABLE 2 Drivers of the Oil & Gas Processing Seals Market: Impact Analysis
TABLE 3 Restraints for the Oil & Gas Processing Seals Market: Impact Analysis
TABLE 4 Global Oil & Gas Processing Seals Market Revenue, by Region, 2016 – 2026 (USD Million)
TABLE 5 North America Oil & Gas Processing Seals Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 6 North America Oil & Gas Processing Seals Market Revenue, by Type, 2016 – 2026 (USD Million)
TABLE 7 North America Oil & Gas Processing Seals Market Revenue, by Material, 2016 – 2026 (USD Million)
TABLE 8 North America Oil & Gas Processing Seals Market Revenue, by Application , 2016 – 2026 (USD Million)
TABLE 9 Europe Oil & Gas Processing Seals Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 10 Europe Oil & Gas Processing Seals Market Revenue, by Type, 2016 – 2026 (USD Million)
TABLE 11 Europe Oil & Gas Processing Seals Market Revenue, by Material, 2016 – 2026 (USD Million)
TABLE 12 Europe Oil & Gas Processing Seals Market Revenue, by Application , 2016 – 2026 (USD Million)
TABLE 13 Asia Pacific Oil & Gas Processing Seals Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 14 Asia Pacific Oil & Gas Processing Seals Market Revenue, by Type, 2016 – 2026 (USD Million)
TABLE 15 Asia Pacific Oil & Gas Processing Seals Market Revenue, by Material, 2016 – 2026 (USD Million)
TABLE 16 Asia Pacific Oil & Gas Processing Seals Market Revenue, by Application , 2016 – 2026 (USD Million)
TABLE 17 Latin America Oil & Gas Processing Seals Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 18 Latin America Oil & Gas Processing Seals Market Revenue, by Type, 2016 – 2026 (USD Million)
TABLE 19 Latin America Oil & Gas Processing Seals Market Revenue, by Material, 2016 – 2026 (USD Million)
TABLE 20 Latin America Oil & Gas Processing Seals Market Revenue, by Application , 2016 – 2026 (USD Million)
TABLE 21 The Middle-East and Africa Oil & Gas Processing Seals Market Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 22 The Middle-East and Africa Oil & Gas Processing Seals Market Revenue, by Type, 2016 – 2026 (USD Million)
TABLE 23 The Middle-East and Africa Oil & Gas Processing Seals Market Revenue, by Material, 2016 – 2026 (USD Million)
TABLE 24 The Middle-East and Africa Oil & Gas Processing Seals Market Revenue, by Application , 2016 – 2026 (USD Million)
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