Global O-ring Seals Market Report and Forecast 2022-2027

Global O-ring Seals Market Report and Forecast 2022-2027

Market Outlook

The global O-ring seals market attained a value of USD 13.67 billion in 2021. Aided by the increasing demand from various end-use industries, the market is projected to further grow at a CAGR of 3.6% between 2022 and 2027 to reach a value of USD 17.27 billion by 2027.

O-ring seal, also known as a toric joint, is a toric shaped elastomer which is designed to meet the mounting requirements of the end users. It basically seals the interface of two components which makes it useful in various static and dynamic applications. In other words, O-ring seal provides a barrier to any kind of liquid or gas, making them impenetrable. On top of this, O-ring seal is flexible, strong, and durable, which makes is driving its demand, leading to a steady growth of the global O-ring seal market.

The increasing application of O-ring seals across various end-use industries including automotive, aerospace, energy, food and beverage, healthcare and medical, among others, is adding to the market growth. O-ring seals are gaining traction in the automotive industry to seal the oils and gases in a proper storage in order to prevent any kind of mishap. In this regard, the thriving automotive industry, fuelled by the growing sale of passenger automobiles, is propelling the demand for the product.

The technological advancements in the aerospace industry, fuelled by the increasing sale of both military and commercial aircrafts, are further bolstering the market growth. O-ring seals are used in fuel, hydraulic, and landing systems, which facilitate smooth and safe aircraft ride. Over the forecast period, the anticipated increase in aerospace and defence expenditure across developing sovereign nations is likely to aid the market dynamics.

Furthermore, the increasing demand for medical O-ring seals across healthcare units, aimed towards smooth execution of various processes, such as cleaning, autoclaving, fluid transfer, and drug delivery, among others, is providing impetus to the O-ring seal market. Therefore, the demand for O-ring seals influenced by the rising healthcare expenditure and technical upgradations across hospitals and ambulatory surgical centres.

Market Segmentation

The market can be divided into the following segmentations.

Market Breakup by Type

• Synthetic Rubber
• Thermoplastic Elastomer

Market Segmentation by Application

• Electrical and Electronic Products
• Aerospace Equipment
• Energy
• Food and Beverages
• Healthcare and Medical
• Automotive and Transportation
• Machinery and Manufacturing
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• NOK Corporation
• Freudenberg Sealing Technologies GmbH
• Parker-Hannifin Corporation
• Trelleborg Sealing Solutions
• AB SKF
• Others

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.