High Pressure Sealants: Introduction
- High pressure sealants are primarily designed for handling large amount of pressure in a high pressure steam, air & water joints, hydraulic and pneumatic fittings, etc. High pressure sealants help provide permanent seal and sustain joint efficiency under high vibration, pressure, and fluctuations in temperature.
- Based on form, the global high pressure sealants market can be bifurcated into liquid and cement. The liquid form is primarily used to seal threads and machined connections, thereby attaining close tolerance level in the machine. The cement form is used on to rough or scored surfaces.
Rise in Demand for High Pressure Sealants in Industrial Sector to Drive High Pressure Sealants Market
- High pressure sealants offer excellent sealing ability. Hence, these are mainly used in steel, energy generation, chemical processing, and other (heavy equipment, pulp & paper, etc.) end-use industries. In these industries, high pressure sealants aid in galling and thread wear, thereby enhancing the lifespan of the equipment used in the industrial sector.
- Improvement in social economic conditions, rise in GDP, and increase in investments in the industrial sector are projected to drive the demand for high pressure sealants in the near future. This is expected to boost the consumption of high pressure sealants due to their excellent ability of permanent sealing and joint efficiency.
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Impact of COVID-19 on Global High Pressure Sealants Market
- The COVID-19 pandemic hampered the global economy in the first quarter of 2020. It primarily affected activities in the manufacturing sector including oil & gas, chemical, steel, aerospace, and automotive & transportation. Many companies manufacturing industrial products have been facing challenges due to stoppage in production activities, supply chain disruption, cost escalation, and the unavailability of workforce. This has led to decreased production and consumption of high pressure sealants. However, the industrial sector has been gaining momentum across the globe. This is likely to drive the demand for high pressure sealants in the near future.
Asia Pacific to Hold Prominent Share of Global High Pressure Sealants Market
- In terms of region, the global high pressure sealants market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific held the major share of the global high pressure sealants market in 2019. Europe and North America are the key regions wherein majority of the producers of high pressure sealants are concentrated.
- China has significant presence of major chemical and polymer manufacturing companies in Asia Pacific. Additionally, the country is home to major manufacturing companies for chemical and petrochemical products; hence, demand for heavy equipment and machinery is high in China. Thus, demand for high pressure sealants is expected to increase in China due to their excellent sealing and joining ability.
- Governmental initiatives such as “Make in India” across India have helped the country become a manufacturing hub for global giants including GE, Siemens, HTC, Toshiba, and Boeing. These companies are in process of setting up production plants in India. The cumulative Foreign Direct Investment (FDI) in the production sector in India during April 2000 to March 2020 reached US$ 88.45 Bn. This is expected to boost opportunities for the high pressure sealants market across the country between 2020 and 2030.
- The market in Latin America and Middle East & Africa is anticipated to expand at a slower pace, as these regions rely on import of high pressure sealants from developing and developed countries
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Key Players Operating in Global Market
- The global high pressure sealants market is consolidated. Key players operating in the global high pressure sealants market include:
- The 3M Company
- Henkel AG & Co. KGaA
- Whitmore Manufacturing LLC.
Global High Pressure Sealants Market: Research Scope
Global High Pressure Sealants Market, by Form
Global High Pressure Sealants Market, by End-use Industry
- Oil & Gas
- Steel Industry
- Energy Generation
- Others (Heavy Equipment and Pulp & Paper)
- Aerospace & Marine
- Automotive & Transportation
- Others (Wastewater Treatment, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.