O Ring Market: Introduction:
An O ring is a mechanical gasket in the shape of a torus, used to create a seal between two surfaces. It is also known as a toric joint or packing. O-rings are the most widely used seal owing to its ease of installation, low cost, simplicity and small space requirements. O-rings can be used for both dynamic and static applications.
Furthermore, an O ring can be manufactured with several materials including, Ethylene Propylene Diene Monomer (EPDM) rubber, Nitrile (NBR) rubber, Silicone rubber, Viton rubber, PTFE, Metal, etc. The material type various subjected to the application of O ring. The prime applications of O ring includes, pneumatic, hydraulic and vacuum applications. Moreover, O ring provide several advantages over other seal types such as, flexibility, superior sealing, wide array of sizes, reusability and low manufacturing costs.
However, some O rings also have drawbacks such as, a PTFE O ring has higher hardness and leakage rate. Also, the shorter lifespan of O rings expected to limit the market growth in the forthcoming years.
O Ring Market: Dynamics:
An O ring is flexible and simple in design, which gives it an upper hand compared to other sealing techniques in the market. The O rings are used in almost all the industries including, aerospace & aviation, automotive, chemical & petrochemical, oil & gas, water & wastewater treatment, electrical & electronics, food & beverages, medical & healthcare and in other industrial applications. The growing demand of O rings in the market is primarily attributed to the growth of its end use industries. Factors such as, flexibility, superior sealing, wide array of sizes, reusability, low manufacturing costs etc. expected to lay a strong base for the significant growth of O ring in the global market.
However, the cheaper and low quality products expected to limit the presence of key players in the O ring aftermarket. Also, a shorter life cycle of O ring is anticipated to hamper the growth of O ring market over the forecast period.
O Ring Market: Segmentation:
O ring market can be segmented into application, material type, end use industry and region.
On the basis of material type, global O ring market is segmented into:
On the basis of application, global O ring market is segmented into:
On the basis of end use industry, global O ring market is segmented into:
O Ring Market: Regional Outlook:
Asia Pacific region is projected to register prominent growth in the O ring market owing to significantly growing end use industries in the region. Emerging economies in the region like, China, India, etc. estimated to create numerous growth opportunities for O rings in the regional market. Furthermore, growing aerospace and automotive industry in the Europe region expected to create demand for new O ring in the market over the forecast period.
North America is anticipated to register significant growth in the O ring market owing to growing end use industries in the region. Latin America and Middle East & Africa regions estimated to register uptick in growth of O ring market over the forecast period.
O Ring Market: Market Participants:
Some of the market participants in the global O ring market are:
The research report presents a comprehensive assessment of the O ring market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to O ring market segments such as geographies, application, and industry.
The report covers exhaustive analysis on:
Regional analysis includes:
The O ring market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The O ring market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.