Pune, India, July 20, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “ANSI Cartridge Seals Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2030 - COVID-19 Impact and by Type, Application, and Geography”, the ANSI Cartridge Seals market is expected to grow from USD 514.61 million in 2023 to USD 761.54 million by 2030; it is estimated to register a CAGR of 5.8% from 2023 to 2030.
Download PDF Brochure: https://www.theinsightpartners.com/sample/TIPRE00029949/
ANSI cartridge seals are used in pumps to prevent fluid leakage between a rotating shaft and stationary housing in different industries, such as chemicals, pharmaceuticals, and food & beverages. According to the Cefic, the European Chemical Industry Council, Europe is the second-largest producer of chemicals in the world. In Europe, the chemical sales of the European Union (EU) were ~US$ 631.82 billion (EUR 594 billion), and the sales of the Rest of Europe were ~US$ 177.63 billion (EUR 167 billion) in 2021. Also, according to the same report, in world chemical sales, the EU contributed 15% of the global shares in 2021. Of the total chemical sales of the EU, petrochemical accounted for 26%, and the remaining 74% was from basic inorganic (13%), polymers (20%), specialty chemicals (27%), and consumer chemicals (14%). Also, approximately two-thirds of the chemical sales came from the four member states, which include Germany (29%), France (17%), Italy (10%), and the Netherlands (10%). Thus, the growing chemical production and sales will boost the growth of the ANSI cartridge seals market.
The pharmaceuticals industry is a major contributor to the EU economy. The European Federation of Pharmaceutical Industries and Associations (EFPIA), in its 2022 report, estimated that the pharma production in the region was valued at ~US$ 320.25 billion (EUR 300 billion) in 2021, which rose from US$ 306.04 billion (EUR 286.69 billion) in 2020. In addition, pharma companies are constructing new manufacturing plants to promote the growth of the European pharmaceutical sector. In May 2022, Bayer AG announced the initiation of the construction of a new pharmaceutical facility in Leverkusen, Germany. The facility will manufacture medicinal products for the treatment of cardiovascular diseases and cancer. This new US$ 286.14 million (EUR 275 million) worth facility will be operational in 2024. Similarly, in March 2023, BluePharma announced that it had opened an oral solid high-potency drug manufacturing facility in Portugal. This facility is one of the largest drug manufacturing facilities in Europe, for which an investment of US$ 31.69 million (EUR 30 million) was made. Thus, the growing construction of new pharma production facilities in the region is expected to raise the need for ANSI cartridge seals in their pump infrastructure, thereby boosting the growth of the ANSI cartridge seals market in Europe.
According to the Cefic, the European Chemical Industry Council, Germany contributed ~29% of EU (European Union) chemical sales in 2021. Also, the country had nearly 2,230 chemical companies in 2021. These companies are continuously working on expanding their manufacturing facilities to cater to the rising demand for chemicals which will further propel the growth of the ANSI cartridge seals market. In April 2022, INEOS Nitriles announced its plan to build an Acetonitrile production facility in Köln, Germany. The new unit will have the latest process technology to improve its supply services to the customers. Similarly, in May 2023, Boehringer Ingelheim announced that the construction of its new US$ 315 million (EUR 285 million) plant had started. Through this plant, the company will produce active pharmaceutical ingredients and drugs for clinical trials. Thus, the growing number of chemical plants in the country is expected to propel the ANSI cartridge seals market growth in Germany.
Purchase Premium Copy of ANSI Cartridge Seals Market Growth Report (2023-2030) at: https://www.theinsightpartners.com/buy/TIPRE00029949/
Global ANSI Cartridge Seals Market: Competitive Landscape and Key Developments
A W Chesterton Co; Advanced Sealing Technology; AESSEA; EagleBurgmann; Flexaseal Engineered Seals and Systems, LLC.; Flowserve Corporation; HI-FAB Engineers Pvt. Ltd.; Scenic Co., Ltd; Stramek Flow Control, S.L.; and World Sealing Corporation are among the key ANSI cartridge seals market players profiled in the report. Several other essential ANSI cartridge seals market players were analyzed for a holistic view of the market and its ecosystem. The ANSI cartridge seals market report provides detailed market insights, which can help major players strategize their growth.
In January 2022, the EagleBurgmann launched CobaDGS mechanical seal, the first gas-lubricated seal to totally stop climate-critical leakage. It is a high-pressure, nitrogen-supplied dry gas seal, making it appropriate for compressors used by gas network operators. Nitrogen can be produced on-site using an optional supply unit, which will save money on transportation.
In 2022, A.W. Chesterton Company released its newest mechanical seal product, the 1510 General Duty Single Cartridge Seal. Accompanying the recently released 1810/2810 high-performance seals, this seal represents another foundational component for Chesterton's cartridge seal portfolio and future mechanical seal business.
Global ANSI Cartridge Seals Market: Application Overview
Based on application, the ANSI cartridge seals market is segmented into chemical & petrochemical industry, pharmaceutical industry, food & beverage industry, and others. The others segment in the ANSI cartridge seals market is expected to account for the largest share in 2023. The others segment includes oil & gas, power generation, and water waste management. Increasing demand for power generation worldwide and growing oil and gas exploration activities are promoting the adoption of cartridge seals, fueling the ANSI cartridge seals market growth.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Transcritical CO2 Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Conventional Lathe Machine Market Forecast to 2028 Forecast to 2028 - COVID-19 Impact and Global Analysis
Ball Valve Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Raised Floor Market Forecast to 2028 - COVID-19 Impact and Global Analysis
CNC Milling Machines Market Forecast to 2028 - COVID-19 Impact and Global Analysis
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/ansi-cartridge-seals-market
