LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Mechanical Seals Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the components and spares industry. This report breaks down the data and analysis behind the procurement of mechanical seals and acts as an all-inclusive guide for making smart purchasing decisions.
“The rapid growth of the pharmaceutical drug manufacturing industry along with the increase in stringent regulations are expected to fuel the growth of the global mechanical seals market,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “There is a greater demand for high-quality seals that have a longer product life as they contribute to the buyers' and regulatory bodies' efforts in reducing emissions,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Mechanical Seals Market:
- Use of 3D printing for manufacturing seals
- Increasing demand from the pharmaceutical sector
- The emergence of new end-user industries such as nuclear and renewable energy
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Use of 3D printing for manufacturing seals:
Globally, there is an increase in the adoption of 3D printing for manufacturing seals owing to the several advantages of using this technique. The benefits include less wastage of raw materials and automated fabrication of complex parts, which reduces the spend on producing mechanical seals for suppliers. As a result, top suppliers such as Trelleborg have started investing in 3D printing technology and are already providing 3D printed components for mechanical seals.
Increasing demand from pharmaceutical sector:
There is an increasing demand for high-quality mechanical seals from the pharmaceutical industry. The growing focus on bio-processed drugs is fueling the demand for mechanical seals from this sector. The ever-increasing demand from the pharmaceutical sector is anticipated to result in new product development, which caters specifically to the needs of buyers from the pharmaceutical industry.
The emergence of new end-user industries such as nuclear and renewable energy:
The mechanical seals market is observing a high demand from new end-user sectors such as nuclear and renewable energy. The emergence of new end-user industries is expected to fuel the growth of this market. Also, demanding end-user industries such as nuclear energy are likely to provide scope for product development that is expected to offer novel sealing solutions to other end-user sectors as well.
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