DETROIT, July 9, 2020
DETROIT, July 9, 2020 /PRNewswire/ -- Stratview Research announces the launch of a new market research report on Encapsulated O-rings Market by Jacket Material Type (FEP and PFA), by Core Material Type (FKM, Silicone, and Others), by Core Structure Type (Solid Core and Hollow Core), by Motion Type (Static and Rotary), by End-Use Industry Type (Chemical, Petrochemical, Pharmaceutical, Food & Beverage, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.
This 264-page report, from Stratview Research, is first of its kind and provides detailed analysis and competitive landscapes on the extremely niche subject "Encapsulated O-Rings Market". The report studies the changing market dynamics, shifting customer preference towards encapsulated O-rings, and emerging trends to portray a panoramic view of the market. The report also studies the pre-COVID and post-COVID market environments to understand the possible loss that the market participants will bear over the next five years. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits as well as formulate growth strategies.
Encapsulated O-rings Market: Highlights
Encapsulated O-rings have a wide range of applications in various end-use industries, including chemical, food & beverage, pharmaceutical, petrochemical, semiconductor, automotive, aerospace, and oil & gas. Despite being a small component of these end-use industries, encapsulated O-rings play an essential role in the smooth functioning of various equipment or devices, such as pumps, valves, cartridge filters, heat exchangers, pipelines, gas compressors, chemical reactor vessels, and pressure vessels. Compared with the other O-rings, encapsulated O-rings offer several advantages, such as high resistance to numerous chemicals except for alkali metals and some fluorine compounds, FDA-compliant, suitability in a broad range of temperatures, low coefficient of friction, low permeation, non-contaminating, and exclusively suitable where hygiene is of paramount importance.
The rapid spread of the pandemic severely affected various end-use industries where encapsulated O-rings are preferred including the halt of production facilities, shortage of labor, and disruption of the supply chain across the globe. Chemical, petrochemical, oil & gas, semiconductor, and automotive are among the worst-hit industries due to the pandemic. On the other side, food & beverage, and pharmaceutical are the industries that are experiencing least impact of the pandemic. The severe impact of the pandemic on chemical, petrochemical, semiconductor, oil & gas, and automotive industries will be partially offset by the modest growth in the food & beverage, pharmaceutical, and medical industries.
Most of the end-use industries hit with the pandemic are anticipated to mark a gradual recovery from 2021 onwards and maintain its growth momentum till 2025, which will create favourable market conditions for encapsulated O-ring manufacturers in the long term. Also, the stringent regulations, such as FDA, EC 2023/2006, EU Reg. 1935/2004, and USP Class-VI; and failure of solid PTFE O-rings in harsh chemical and high-temperature environment provide good growth opportunity to encapsulated O-ring manufacturers. The market for encapsulated O-rings is likely to mark a healthy 5.0% CAGR over the next five years to reach US$ 144.6 million in 2025.
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Based on the jacket material type, FEP is expected to remain the most preferred jacket material type in the market in years to come. Lower cost along with several other advantages including high resistance to corrosion and chemicals, low compression set, and low coefficient of friction, making FEP the preferred choice for all standard applications up to 205°C. PFA encapsulated O-rings are used for higher temperature range. They have higher mechanical strength, improved crack resistance; hence, longer service life than FEP encapsulated O-rings.
Based on the core material type, the encapsulated O-rings market is segmented into FKM, silicone, and others (include EPDM, stainless-steel spring, etc.). Due to the excellent elasticity, good chemical resistance, and outstanding compression, FKM core material dominated the market in 2019 and is likely to maintain its dominance throughout the forecast period. The silicone core material is preferred in low-temperature applications as it remains flexible at lower temperatures because of its greater softness than FKM and has a higher standard of heat resistance.
Based on the core structure type, solid core is likely to remain the leading segment of the market in the coming years as well, driven by its excellent resistance to compression set and good recovery characteristics. FKM and silicone are dominantly used core materials for solid core encapsulated O-rings. FKM solid core provides excellent elasticity and high-level compression, whereas silicone solid core performs excellent for a wider range of temperatures.
Based on the end-use industry type, chemical industry is the biggest user of encapsulated O-rings, driven by the extensive use of aggressive chemicals, making encapsulated O-rings a preferred choice. These O-rings are also widely used in the food & beverages and pharmaceutical industries as they are compliant with the Food and Drug Administration (FDA), EC1935/2004 and EC2023/2006, USP Class VI, and 3A 18-03 Sanitary Standards.
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In terms of regions, all regions are expected to mark a huge decline in 2020 in the wake of rapid spread of the pandemic across regions. Despite worst hit by COVID-19, Europe will maintain its lead in the years to come with the presence of leading encapsulated O-ring manufacturers, such as Vulcan Engineering Limited and Northern Engineering (Sheffield) Ltd. Asia-Pacific is expected to heal with the fastest pace post-pandemic with China and India being the growth engines.
The supply chain of this market comprises raw material suppliers, encapsulated O-ring manufacturers, distributors, component manufacturers, and end-users. Key encapsulated O-ring manufacturers are Daemar Inc., ERIKS NV, Freudenberg Group, James Walker Group Ltd., M-Cor Inc., Monroe Engineering Products, Northern Engineering (Sheffield) Ltd., ROW, INC., Trelleborg AB, and Vulcan Engineering Limited.
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:
This report studies the encapsulated O-rings market and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:
Encapsulated O-rings Market, By Jacket Material Type
Encapsulated O-rings Market, By Core Material Type
Encapsulated O-rings Market, By Core Structure Type
Encapsulated O-rings Market, By Motion Type
Encapsulated O-rings Market, By End-Use Industry
Encapsulated O-rings Market, By Region
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