Frost & Sullivan’s most recent analysis of the North American seals market shows that environmental and health concerns spurred increased use of seals in recent years. Advancements in shale gas exploration and the launch of high-value projects in power and water industries, in particular, led to new pump and equipment installations that drove added adoption of seals in North America.
Frost’s research finds the market earned revenue of over $2.13 billion in 2012 and estimates this to reach $2.93 billion in 2019.
Improving reliability and performance in industries are believed to be fueling the uptake of mechanical seals. Despite their high initial prices, benefits such as decreased maintenance costs and reducing product leakage are expected to sustain sale volumes.
“Seals are mandatory in highly regulated industries, such as refining and chemical processing, where the release of hazardous materials are harmful to people or the environment,” said Frost & Sullivan Industrial Automation and Process Control Research Analyst, Sakthi Sobana Pandian. “Seals are also popular in food and pharmaceutical industries where it is critical to prevent external agents from entering the manufacturing process.”
For more information on Frost’s research on seals, contact Liz Clark at Liz.Clark@frost.com.