Global Oil & Gas Processing Seals Market Outlook 2019-2023 - ResearchAndMarkets.com

The "Oil & Gas Processing Seals Market by Type (Single, Double), Material (Metal, Elastomer, Face Material), Application, and Region (Asia Pacific, Europe, North America, South America, Middle East & Africa) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global oil & gas processing seals market is estimated to be USD 5.7 billion in 2018 and is projected to reach USD 6.4 billion by 2023, at a CAGR of 2.5% between 2018 and 2023.

This report covers the oil & gas processing seals market on the basis of material, type, application, and region. This study aims at estimating the size and future growth potential of the oil & gas processing seals market across various segmentation types. The report also includes an in-depth competitive analysis of the key market players along with their profiles and key growth strategies.

The report provides insights into the following pointers:

• Market Penetration: Comprehensive information on oil & gas processing seals offered by the top players operating in the market
• Product Development/Innovation: Detailed insight into upcoming technologies, R&D activities, and new applications in the oil & gas processing seals market
• Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for oil & gas processing seals across different regions
• Market Diversification: Exhaustive information about untapped geographies, recent developments, and investments in the oil & gas processing seals market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the oil & gas processing seals market

Metal is estimated to account for the largest share of 51.6%, in terms of value in overall oil & gas processing seals market and is projected to register a CAGR of 2.5% during the forecast period. Single seal is the fastest-growing type of oil & gas processing seals, estimated to account for a share of 53.1%, in terms of value, of the overall market in 2018. The market in this segment is projected to register a CAGR of 2.1% during the forecast period. Downstream is projected to be the fastest growing application of oil & gas processing seals registering a CAGR of 2.5%, in terms of value, during the forecast period.

Growing demand from oil & gas and chemicals & petrochemicals industry in the Asia-Pacific and in emerging economies is likely to boost the oil & gas processing seals market. The major driver of the oil & gas processing seals market is increased efficiency in oil production offshore, furthermore increase in oil production is also expected to drive the consumption of oil & gas processing seals. The major restraining factor in the oil & gas processing seals market is gland packaging and seal-less pumps. Industry players followed strategies such as expansions, new product developments, and contracts to address the demand generated by end-use industries and to increase their global footprint.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Oil & Gas Processing Seals Market

4.2 Oil & Gas Processing Seals Market, By Region

4.3 Oil & Gas Processing Seals Market, By Type & Region

4.4 Oil & Gas Processing Seals Market, By Application

4.5 Oil & Gas Processing Seals Market, By Type

4.6 Oil & Gas Processing Seals Market: Major Countries

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increased Efficiency in Offshore Oil Recovery

5.2.1.2 Increasing Crude Oil Production

5.2.2 Restraints

5.2.2.1 Gland Packaging and Seal-Less Pumps

5.2.2.2 Growth in the Renewable Energy Sector

5.2.2.3 Low Oil & Gas Prices

5.2.3 Opportunities

5.2.3.1 Discovery of New Oilfields

5.2.4 Challenges

5.2.4.1 Specific Requirements From End-Use Industries

5.3 Porter's Five Forces Analysis

5.4 Macroeconomic Overview

5.4.1 Manufacturing Industry Trends and Forecast, By Country

5.5 Oil & Gas Wells, By Region (2016)

5.6 Crude Oil Throughput By Region, 2016 (In 1000 BPD)

5.6.1 Oil & Gas Industry Trends, By Region and Country

6 Oil & Gas Processing Seals Market, By Material

6.1 Introduction

6.2 Metal

6.3 Elastomer

6.4 Seal Face Material

6.5 Others

7 Oil & Gas Processing Seals Market, By Type

7.1 Introduction

7.2 Single Seal

7.3 Double Seal

8 Oil & Gas Processing Seals Market, By Application

8.1 Introduction

8.2 Upstream

8.3 Midstream

8.4 Downstream

9 Oil & Gas Processing Seals Market, By Region

9.1 Introduction

9.2 North America

9.3 Middle East & Africa

9.4 APAC

9.5 Europe

9.6 South America

10 Competitive Landscape

10.1 Introduction

10.2 Market Ranking of Key Players

10.3 Competitive Scenario

11 Company Profiles

11.1 Freudenberg Group

11.2 John Crane

11.3 Flowserve Corporation

11.4 Parker Hannifin Corp.

11.5 Saint-Gobain

11.6 Trelleborg AB

11.7 Dupont

11.8 Precision Polymer Engineering

11.9 Techno Ad Ltd.

11.10 M.Barnwell Services Limited

11.11 Precision Associates Inc.

11.12 FTL Technology

11.13 Aesseal PLC

11.14 Technetics Group

11.15 Performance Sealing Inc.

11.16 Ceetak Ltd.

11.17 American High-Performance Seals

For more information about this report visit https://www.researchandmarkets.com/r/z1z1ds

View source version on businesswire.com: https://www.businesswire.com/news/home/20190521005529/en/