The Market of Chemical Transportation Seals set to grow US$ 699.1 million by 2025
February 19, 2020
Chemical Transportation Seals Market Overview:
The chemical transportation seals market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 699.1 million in 2025. Organic growth of the chemical industry, increasing chemical export and imports across the world, and increasing chemical tanker fleet are some of the major factors driving the growth of the chemical transportation seals market. Rapidly expanding the industrial sector in the emerging economies is providing new revenue avenues for the market participants in the chemical transportation seals market.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analysed from various point of views. Each vantage point give better understanding of the market. The market of Chemical Transportation Seals has been view from various perspectives such as:
•By Application Type (Manlid, Valves, Others)
•By Material Type (PTFE, FFKM, EPDM, Others)
•By Product Type (O-ring, Gaskets, Others)
•By End-user Type (OE and aftermarket)
•By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
? Which are the best performing segments of the market?
? Which is the most dominant region?
? Who are the movers and shakers of the market?
? What are the regional growth hotspots?
? What are the segmental growth forecasts?
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Chemical Transportation Seals Market Segment Insights:
Valve Segment: The growth engine
On the basis of application type, the chemical transportation seals market is segmented into manlid, valves, and others. The valves segment is likely to remain dominant in the market during the forecast period, as a large number of valves, such as foot valve, ball valve, butterfly valve, airline valve, pressure vacuum valve; are used in a chemical tanker.
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Dominance of: PTFE and O-rings
On the basis of material type, the market is segmented into PTFE, FFKM, EPDM, and others. PTFE is expected to remain the dominant as well as the fastest-growing segment of the market during the forecast period. PTFE seals are predominantly used in chemical tankers, owing to their excellent properties including high flexibility, excellent chemical resistance from a wide array of chemicals, high thermal resistance, and high flexural strength.
On the basis of product type, the chemical transportation seals market is segmented into, o-rings, gaskets, and others. O-rings are expected to remain dominant as well as the fastest-growing product type in the market during the forecast period. O-rings can operate at a wide range temperature and pressure and are used in diverse applications including ball valves, butterfly valves, pressure vacuum valves, and airline valves.
A highly/moderately/fragment consolidated Market
The key players in the chemical transportation seals market are Yuyao Tenglong Sealing & Packing Factory, Zhenjiang Seasum International Trade Co., Ltd., James Walker Group Limited, PEROLO SAS, DuPont de Nemours, Inc., Trelleborg AB, Parker-Hannifin Corporation, TRP Polymer Solutions Ltd., VSP Technologies Inc., and Pelican Worldwide B.V.
Regional Hegemony of Europe
Europe is projected to remain the largest market for chemical transportation seals during the forecast period. Increasing chemical exports by major countries of the region, such as Germany, France, the United Kingdom, Belgium, the Netherlands, and Ireland, are driving the demand for chemical tankers in the region, which, in turn, is driving the demand for chemical transportation seals. Germany and France are also the two largest chemical producers in the region, followed by Italy and the Netherlands. All these factors are contributing to the dominance of the region in the chemical transportation seals market.
Asia-Pacific is expected to be the fastest-growing market for chemical transportation seals during the forecast period. The region’s demand for the chemical transportation seals is majorly driven by the Japanese shipyards, which has maintained a steady share in the chemical tankers market; and China, which is the largest consumer of organic chemicals. The increased seaborne trade of methanol has also positively impacted the growth of Asia-Pacific’s chemical transportation seals market.
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