Spring Energized Seals Market Size, Share & COVID-19 Impact Analysis, By Type (Continuous Contact Spring, Cantilever Spring, Helical Wound Spring, Elliptical Coil Spring, and Others), By Application (Oil & Gas, Aerospace, Medical, Semiconductor, and Others) and Regional Forecast, 2021-2028

The global spring energized seals market size was USD 2.96 billion in 2020. The market is projected to grow from USD 3.12 billion in 2021 to USD 4.58 billion in 2028 at a CAGR of 5.6% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 3.5% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in the CAGR is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over.

Lip seals, or U-cups, made of high-performance elastomers typically, are spring-energized seals. A highly corrosive metal spring energizer provides a steady load to the lips, establishing a dependable gas-tight barrier against all contacting sealing surfaces. The chemical qualities of the fluid media that spring energizers are expected to encounter influence their design. Stainless steel provides a strong all-around performance and chemical resistance that is nearly universal. Also, choosing the proper seals or grade have a direct influence on the spring-energized seal's longevity.

A basic spring-activated seal has two parts: A polymer-based seal jacket material and the spring. Jackets are often manufactured from one of Eclipse's several PTFE material mixes, which offer a variety of useful qualities in sealing applications. Low friction, a wide temperature range, and chemical and media compatibility are just a few of the benefits. The seal jacket is often machined in the shape of a "U," similar to how many regular urethane and elastomeric U-Cup seals are designed. The seal is normally fitted with the open side of the "U" towards the system pressure.

COVID-19 Pandemic: Supply Chain Interruptions Caused Significant Drop in Oil and Gas Demand

The outbreak of the COVID-19 pandemic wreaked havoc in the Middle East and Africa's agricultural industries. High supply chain interruptions in the Middle East and Africa, as well as a significant drop in oil and gas demand, harmed the market. In addition, due to the slowdown in output, the demand for gas & oil processing sealing solutions have seen major downfall. Additionally, the projected decline in some nations focused on local production were resulted in a drop in demand for spring energized seals.

However, the global market is projected to exhibit a positive growth in the future ahead. It is attributed to the growing adoption of customized seals and importance of lubrication and leakage stoppage in the systems. Furthermore, the medical industry has anticipated to witness a huge spike as the demand for personal protective equipment is also surging steadily. Spring-energized seals are commonly found in rotary-motion equipment, such as surgical saws, high- and low-speed handpieces, bone shavers, bone drills & oscillating saws. Therefore, due to Covid-19 the demands for these equipment has seen exponential growth & will exhibit substantial growth during the forecast period.

LATEST TRENDS

Increase in Adoption of Spring Energized PTFE Seal to Accelerate Market Growth

The sealing technology has been embraced by numerous industries in recent years due to its leakage prevention applications at severe pressure and temperature. In addition, a trend of adopting customized seals in various industries is propelling the growth of the market in the coming years. When elastomeric seals fail to meet temperature range, chemical resistance or friction requirements, spring energized PTFE seals were used to reduce the attack & maintain balance. 

Additionally, its unique design and material qualities provide design engineers a new range of alternatives for demanding applications. Furthermore, seal manufacturers are always attempting to provide a sustainable and scalable service for their customers. Some small and mid-sized manufacturers have effectively implemented the customizing process for their customers. This technology enables sealing manufacturers to supply customers with dependable, fitting, and long-lasting PTFE seals. Hence, there’s no need of concern about compatibility with spring-energized PTFE seals as these PTFE mixes are inert to virtually all industrial chemicals and solvents, even at high temperatures and pressures. 

DRIVING FACTORS

Usage of Spring Energized Seals to Bolster Oil & Gas Market

These seals are utilized in a variety of applications in the oil and gas industry, including completion, drilling, distribution, production, and refining. In addition to the growing demand, rebounding crude oil prices, increasing well-drilling operations, a slow but steady recovery in global rig counts, and improvements in sealing materials to handle difficult conditions are some of the major drivers driving seal demand in this sector. Additionally, FKM, NBR/HNBR, PTFE, PEEK, FFKM & other materials are utilized to make these seals. Factors such as temperature resistance, sealing efficiency, dependability, environmental conditions, durability, lifespan, and cost are all considered when choosing a sealing material. Many experts are turning to PTFE spring-energized seals for oil and gas operations because they provide the wear resistance which is necessary.

Furthermore, growing demand is further encouraging the key players to develop new and more advance seals, which are frequently need the capacity to endure high pressure, high temperature (HPHT), cryogenic temperatures, sour gas, heavy oil, and the major considerations include safety and environmental protection. As new ideas are developed to push the technical limitations, proven designs and high-performance solutions are becoming increasingly important, one of which is polymer spring-energized sealing systems. Therefore, extensive use and production of oil and gas, as well as the significant reliance on these energy sources and the need for these seals for the oil and gas industry is further contributing towards global spring energized seals market growth.

RESTRAINING FACTORS

Increasing Adoption of Seal Less Shafts to Hamper Market Growth

Consumers are choosing seal-less drive shafts due to their expensive maintenance and difficult installation methods. Seals-less shafts provide a number of advantages over typical spring energized seals. Additionally, these kinds of seals necessitate additional motors and shafts for power transfer. Furthermore, the seal-less magnetic drive pump is surrounded by a collection of magnets that aid in transmitting the magnetic field to the shaft. As a result, any fluid is entirely enclosed by this system. Therefore, increasing demand for the seal-less driving shafts is another factor limiting the growth of this market. Hence, these are the major factors impeding this market's expansion.

SEGMENTATION

By Type Analysis

Cantilever Spring Segment to Hold Major Market Share During Forecast Period

By type, the market is segmented into continuous contact spring, cantilever spring, helical wound spring, elliptical coil spring, and others (flanged seal, and others.)

The cantilever spring segment is in best position to lead the market by capturing the highest CAGR during the forecast period. It is attributed to the increased demand across compressors and pumps application because of its adoption to reduce chemical attacks & maintaining extreme temperature range, friction concerns. Shocks, hydraulic cylinders, pumps, and compressors are some of the examples of reciprocating applications for these seals.

Furthermore, the continuous contact spring seals segment is anticipated to witness the highest growth owing to their utilization in static and slow rotational applications where strong radial stress is required. This design works well in static sealing situations including gases, cryogenic temperatures, and vacuum.

Followed by continuous contact spring seals, the helical wound spring seals segment is projected to have significant growth as they provide moderate to high spring load for static and slow dynamic conditions.

Whereas, the elliptical coil springs are witnessing steady growth rate in the forecast period. It is attributed to easy manufacturing processes and usage in flange type applications

By Application Analysis

Oil & Gas Sector to Dominate Market Share By Selecting Suitable Sealing Products

By application, the market is segmented into medical, oil & gas, aerospace, semiconductor, others (automotive, and others.)

The oil & gas segment is projected to capture the highest CAGR i.e. 6.8% during the forecast period. By selecting the suitable sealing products, the oil & gas industries are combating the encounters such as, high pressures, extreme temperatures, and exposure to aggressive fluids and others.

Furthermore, the aerospace segment is predicted to witness a huge CAGR i.e. 6.1% in the forecast period. In aerospace applications, seals can be found in flap actuators, gearboxes, actuators, turbopumps, aircraft braking systems, cryogenic refueling systems, and hydraulic systems. These spring seals are necessary for seaborne, land and ground defense systems along with unmanned aerial vehicles, ships, airborne systems, and aircraft.

The medical industry is witnessing moderate growth in the forecast period. It is attributed to usage of these seals in manufacturing medical equipment such as surgical saws, high and low-speed hand pieces, and bone shavers, and others.

The semiconductor segment is anticipated to witness the highest growth owing to operations in extreme temperatures & vacuum capability.

REGIONAL INSIGHTS

The scope of the report comprises five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa and South America.

The Asia Pacific market is expected to exhibit substantial growth over the forecast period. The growth is owed to the presence of several registered & unregistered market players, rapid industrialization and increasing demand of spring energized seals from the industries including oil & gas refineries, medical, and aerospace.

Moreover, India is anticipated to show major growth in coming years, as the governmental bodies are working continuously on investing in their manufacturing sector that is propelling the market growth in the country. For instance, Chamber of Commerce & Industry of India (CCI India) stated that, by 2020, the government of India is aiming to upsurge the share of the manufacturing sector to the gross domestic product to 25% with 100 billion new jobs.

However, North America market is projected to grow with steady growth rate during the forecast period due to the presence of leading manufacturers in the U.S. In the addition, the growing demand for these seals in several industries, such as in manufacturing, medical, aerospace & other oil & gas industries is further rising the spring energized seals industry growth.

Furthermore, Europe is projected to witness substantial growth in the future. The rise in the presence of chemical manufacturing industries along with growing use of sealing products in the aerospace industry is contributing towards the market growth. Additionally, the demand for sealing products is comparatively stable with relatively balanced market growth over the years. Italy and Spain are anticipated to show substantial growth attributed to the demand for spring energized seals from automotive & semiconductor industries.

The Middle East & Africa market is showing moderate growth as it dominates the oil & gas and power industry. The Organization of Petroleum Exporting Countries (OPEC) stated that, in 2018, 79.4% of the globe’s proven oil reserves are located in OPEC member countries including Saudi Arabia, Kuwait, Iran, Iraq and others.

Whereas, South America is anticipated to show major growth. The minimal technological developments & moderate growth of industrialization is gaining the attention of other companies to establish their market in the region. The increasing middle-class population and strengthening economy in nations such as Brazil, Mexico, and others along with the expansion of the seals industry is further fueling the spring energized seals market share in this region.

KEY INDUSTRY PLAYERS

Major Players Are Focused On Industry-Leading Technology for Different Application.

The market participants emphasize on excellent region-to-region coverage with an aim to increase localization. Leading manufacturers are focused on expertise in applied engineering and industry-leading technology for spring energized seal products. They are inclined towards strategic approaches including, rebranding of existing products.

LIST OF KEY COMPANIES PROFILED:

• SKF (AB SKF) (Gothenburg, Sweden)


• Flowserve Corporation (Texas, U.S.)


• John Crane (Smiths Group plc.) (Illinois, U.S.)


• Trelleborg AB (Trelleborg Sweden)


• EnPro Industries, Inc. (Garlock GmbH) (North Carolina, U.S.)


• Dover Corporation (Waukesha Bearings) (Illinois, U.S.)


• Freudenberg SE (Weinheim, Germany)


• SHV (ERIKS Group) (Utrecht, the Netherlands)


• The Timken Company (Ohio, U.S.)


• Tenneco Inc. (Federal-Mogul LLC) (Illinois, U.S.)


• Fenner Group Holdings Limited (Hallite Seals) (Hessle, U.K.)


• Hi-Tech Seals (Texas, U.S.)


• Spareage Sealing Solutions (Mumbai, India)


• Globseals Africa Limited (Johannesburg, South Africa)


• AESSEAL (Rotherham, U.K.)


• BELL D.O.O. (Slovenia, Europe)


• Carl Werthenbach Konstruktionsteile GmbH & Co. KG (Niedersachsen, Germany)


• Dickson Bearings & Transmissions Ltd (Dublin, Ireland)


• Rea Hellas S.A. (Athina, Greece)

KEY INDUSTRY DEVELOPMENTS:

• October, 2021 - SKF's newly developed large sealed bearings, which are used in mining machines, minimizes grease consumption by up to 99% and then last nearly twice as long as existing open bearings, prolonging service life and lowering expenses.

• January, 2021 - Flowserve Corporation recently announced the launch of RedRaven, an innovative IoT solution package to assist manufacturing companies remotely monitor assets, forecast equipment problems before they occur, and take preventative actions to avoid business interruptions.

REPORT COVERAGE

The spring energized seals market research report provides a detailed analysis of the type & application. It provides information along with leading companies and their business overview, types, and leading applications of the product. Besides, it offers insights into the competitive landscape, SWOT analysis, along with current market trends and highlights key drivers and restraints. In addition to the aforementioned factors, the report encompasses several factors contributing to the market's growth in recent years.

Report Scope & Segmentation