LONDON--(BUSINESS WIRE)--The global machined seals market size is expected to grow by USD 203.24 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 2%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Machined Seals Market Analysis Report by End-user (automotive industry, heavy industry, machine tools industry, and others) and Geography (APAC, North America, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024".
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The market is driven by the increasing demand for machined seals from the manufacturing industry. In addition, the stringent environmental regulations are anticipated to boost the growth of the Machined Seals Market.
Machined seals are highly adopted in industrial premises to ensure leakage protection in critical industrial equipment. Most industrial equipment such as valves, hoists, chain drives, and pneumatic tools have to continuously perform under harsh industrial environments. Thus, the adverse industrial conditions in process industries directly impact the performance of molded seals and lead to early wear of the material. Therefore, to resolve this issue, vendors are designing machined seals with high-quality materials so that they can handle heavy-duty operations in harsh environmental conditions. Fluoroprene is a fluorinated thermoplastic elastomer that fills the gap between the polytetrafluoroethylene (PTFE) and fluorocarbon rubber. Machined seals made of such materials offer superior fluid resistance and lower permeability to the fuels. As a result, the demand for machined seals is increasing in manufacturing industries, leading to market growth.
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Major Five Machined Seals Companies:
A.W. Chesterton Co.
A.W. Chesterton Co. has business operations under various segments, such as rotating equipment solutions, stationary equipment solutions, fluid power equipment solutions, industrial lubricants/MRO chemicals, ARC efficiency & protective coatings, and FluidEfficiency services. The company offers polymer seals and some of the product types include cap seals, wipers, rod seals, piston seals, and replaceable bearings amongst others.
AB SKF
AB SKF operates its business through the segments industrial and automotive. The company offers fluid power seals, power transmission seals, and large diameter seals.
Datwyler Holding Inc.
Datwyler Holding Inc. has business operations under two segments: sealing solutions and technical components. The company offers elastomeric seals and machined seals products.
Freudenberg SE
Freudenberg SE operates its business through various segments such as seals and vibration control technology, technical textiles and filtration, cleaning technologies and products, and specialties. The company offers Freudenberg Xpress services. The seals are machined and are made up of EPDM, PTFE, polyurethane and Fluoroprene XP material.
IDEX Corp.
IDEX Corp. has business operations under three segments: fluid and metering technologies, health and science technologies, and fire and safety. The company's subsidiary Roplan and Precision Polymer Engineering offers engineered mechanical seals.
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Machined Seals Market End-user Outlook (Revenue, USD mn, 2020-2024)
- Automotive industry
- Heavy industry
- Machine tools industry
- Others
Machined Seals Market Regional Outlook (Revenue, USD mn, 2020-2024)
- APAC
- North America
- Europe
- South America
- MEA
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