Oil & Gas Seals Market Size to Reach US$ 1.8 Billion in 2025, Says Stratview Research

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Nov 07, 2019, 07:30 ET

DETROIT, Nov. 7, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new report on Oil & Gas Seals Market by Shore Type (Onshore and Offshore), by Material Type (Elastomers {NBR/HNBR, FKM, and FFKM}, Thermoplastics {PEEK, PTFE, and Others}, and Others), by Application Type (Drilling, Completion, Production, and Distribution & Refinery), by Motion Type (Static Seals, Linear Seals, and Rotary Seals), by Product Type (O-Rings, U-Cup Seals, Back-Up Rings, Spring Energized Seals, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.

This market report, from Stratview Research, is another flagship research report in the seals family. After publishing several reports on seals, such as aircraft seals market, pipe seals market, and medical/life science seals market, Stratview Research has come up with another exclusive market report on the oil & gas seals market. The report provides thoroughgoing market analysis by providing 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: Research 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 for their reliable functioning. Materials used for manufacturing seals for the oil & gas industry must be compliant with industry standards such as ISO, NORSOK, and API.

As per Stratview Research, the global oil & gas seals market is projected to offer healthy growth opportunities over the next five years to reach US$ 1,801.5 million in 2025. 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.

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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, production is expected to remain the largest segment of the 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. Other applications are also estimated to generate sizeable growth opportunities in the coming five years.

Based on the product type, the oil & gas seals 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 oil & gas seals 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.

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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 market for oil & gas seals is gradually consolidating as major companies are performing mergers & acquisitions to quickly gain leading position in the market. Key players in the market are EnPro Industries, Inc., Freudenberg Group, Flowserve Corporation, John Crane, Inc., M.Barnwell Services Limited, Green Tweed & Co., CDI Energy Products, Parker Hannifin Corporation, Precision Polymer Engineering, Saint-Gobain S.A., and Trelleborg AB. Development of extrusion-resistant and high-pressure and high-temperature-resistant seals, building excellent distribution networks especially in the untapped markets, and formation of strategic alliances are the key strategies adopted by the key players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

Market structure: Overview, industry life cycle analysis, supply chain analysis.
Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
Market trend and forecast analysis.
Market segment trend and forecast.
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities.
Emerging trends.
Strategic growth opportunities for the existing and new players.
Key success factors

This report studies the oil & gas seals market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:

Oil & Gas Seals Market, By Shore Type

Onshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Oil & Gas Seals Market, By Material Type

Elastomers

(Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
(Material Type Analysis: NBR/HNBR, FKM/FFKM, and Others)

Thermoplastics

(Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
(Material Type Analysis: PEEK, PTFE, and Others)

Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Oil & Gas Seals Market, By Application Type

Drilling (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Completion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Production (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Distribution & Refinery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Oil & Gas Seals Market, By Motion Type

Static Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Linear Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Rotary Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Oil & Gas Seals Market, By Product Type

O-Rings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
U-Cup Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Back-Up Rings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Spring Energized Seals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Oil & Gas Seals Market, By Region

North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: The UK, Norway, Russia, and Rest of Europe)
Asia-Pacific (Country Analysis: China, India, SEA, and Rest of Asia-Pacific)
Rest of the World (Latin America, The Middle East, and Others)

Stratview Research has number of high value market reports in the oil & gas industry. Please refer to the following link to browse through our reports:

https://www.stratviewresearch.com/market-reports/Oil-Gas.html

Our related premium market reports in the seals family are:

Life Science/Medical Seals Market by Application Type (Analytical Instrumentation, Surgical Tools, and Medical Devices), by Product Type (O-Rings, Gaskets, Lip Seals, and Others), by Material Type (Metals, Elastomers, Thermoplastics, and Composites), by End-User Type (Hospitals, Private Clinics, and Research Laboratories), by Certification Type (USP Class VI, FDA or ISO 13485, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

Aircraft Seals Market by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft), by Application Type (Engine, Airframe, Interior, Flight Control Surfaces, Landing Gear, Wheels & Brakes, and Others), by Motion Type (Static Seals and Dynamic Seals), by Function Type (Aerodynamic Surface Seals, Air and Fluid Handling Seals, Fire Seals, Conductive Seals, Insulative Seals, and Others), by Material Type (Polymer Seals, Metal Seals, and Composite Seals), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

Pipe Seals Market by Product Type (Gaskets, O-Rings, and Other Seals), By Pipe Type (Plastic Pipes, Concrete/Clay Pipes, and Steel/Ductile Iron Pipes), By Material Type (EPDM, SBR, and Others), By Application Type (Wastewater, Potable Water, and Others), and By Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, & Competitive Analysis and Growth Opportunity: 2019-2024.

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.

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