Market Summary
The Food and Beverage Mechanical Seals market are forecasted to grow at a rate of 3.5% CAGR from USD 396.8 million in 2019 to USD 512.7 million in 2027. This market is forecasted to witness a surge in its revenue over the next few years because of many reasons. With the increasing demand for poultry, dairy, bakery, beverages, and confectionery products, this market is expected to grow. Moreover, due to the busy lifestyle, people are getting more inclined towards processed and convenient food, which does not require the investment of too much time.
Further, the presence of stringent standards and regulations over the seals of these varieties of foods are some of the main reasons propelling the growth of this market. The rising demand for leakage prevention is another reason that accounted for the growth of the food and beverage mechanical seals market. These beverage and food processing seals are available in different and several designs depending on their specific machinery or product types and the functions for which they are used.
Europe is the largest food processing seals market in 2019 and is expected to continue to dominate the market until 2027. Europe will lead the market growth owing to the growing food production and processing. Moreover, the presence of strict regulations regarding the use of seals in various beverage & food applications propels the demand for these products in this region. Further, due to rapid industrialization in emerging economies in the regions like South Korea, China, and Japan, the expansion of waste & wastewater industries and chemical processing is estimated to propel the demand for mechanical seals in the Asia Pacific in coming years
The COVID-19 impact:
Like many sectors, COVID-19 is affecting this sector too. Countries are locked down, and workers are sent for quarantine, due to which industries are completely shut down. By Q3 of 2020, mining industries in China are expected to resume normal operations as enterprises indicated towards the return of their employers. Moreover, producers of iron ore are least impacted by this pandemic. Major companies like BHP and Vale are experiencing no serious impact on their operations because of the COVID-19 virus. Due to the tight supply of iron ore from Brazil because of heavy rains and the mills in China having the limited reach to the domestic supplies of iron ore, the prices of iron ore reached above USD 90 per ton.
Request Sample of this report @ https://www.reportsanddata.com/sample-enquiry-form/3089
Further key findings from the report suggest
- Among the design segment for the food and beverage mechanical seals market, balanced and unbalanced designs are estimated to register the highest CAGR of 3.7% during the forecasted period. Balanced mechanical seals are suitable for handling liquids that have the low lubricating capacity and have the ability to sustain higher pressures.
- The product type segment of this market is led by metal materials, and it will continue to dominate with an estimate to register the highest CAGR of 3.7% during the forecasted period. In a seal, it is used in a wide variety of elements, which, in turn, drives its demand in various applications. In addition to this, considerable freedom of design is offered by metals, since they are not restricted by the chemical limitations and temperature, unlike other materials.
- The application type segment of this market is led by meat, poultry, and seafood type, and it will continue to dominate the market with an estimate to register the highest CAGR of 3.8% during the forecasted period. The huge production and demand for these products accompanied by rapid urbanization and changing patterns in the consumption of food in regions like South America and APAC are expected to drive this market in the industrial segment by 2027.
- Among the regions, Europe is estimated to register the highest CAGR of 3.9% during the forecasted period. Europe will lead this segment growth owing to the growing food production and processing. Moreover, the presence of strict regulations regarding the use of seals in various beverage & food applications propels the demand for these products in this region.
- Further, due to rapid industrialization in emerging economies in the regions like South Korea, China, and Japan, the expansion of waste & wastewater industries and chemical processing is estimated to propel the demand for mechanical seals in the Asia Pacific in coming years. Owing to the development of infrastructure and on-going advancements in the HVAC industry, North America and Europe held a significant share of the global mechanical seals market.
- Key participants include SKF (AB SKF), Flowserve Corporation, John Crane (Smiths Group plc), Trelleborg AB, EnPro Industries, Inc.( Garlock GmbH), Dover Corporation (Waukesha Bearings), SHV(ERIKS Group), Freudenberg SE, Tenneco Inc. (Federal-Mogul LLC), Fenner Group Holdings Limited(Hallite Seals) among others.
Request Latest Insights in this report@ https://www.reportsanddata.com/request-latest-insight/3089
For the purpose of this report, Reports and Data have segmented the global Food and Beverage Mechanical Seals market on the basis of type, application, design, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
- Metals
- Face materials
- Elastomers
- Other Type
Application Outlook (Revenue, USD Million; 2017-2027)
- Bakery and confectionary
- Meat, poultry, and seafood
- Dairy products
- Alcoholic beverages
- Non-alcoholic beverages
- Others
Design Outlook (Revenue, USD Million; 2017-2027)
- Balanced and unbalanced mechanical seals
- Single spring and multiple spring mechanical sheets
- Pusher and Non-pusher type mechanical sheets
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
Request Customization on this report@ https://www.reportsanddata.com/request-customization-form/3089
Explore Trending Research Reports by Reports and Data
Pea Starch Market: https://www.globenewswire.com/news-release/2019/10/02/1924089/0/en/Pea-Starch-Market-To-Reach-USD-165-9-Million-By-2026-Reports-And-Data.html
Humectants Market: https://www.globenewswire.com/news-release/2019/10/07/1925901/0/en/Humectants-Market-To-Reach-USD-35-4-Billion-By-2026-Reports-And-Data.html
Prebiotic Ingredients Market: https://www.globenewswire.com/news-release/2019/10/16/1930796/0/en/Prebiotic-Ingredients-Market-To-Reach-USD-8-34-Billion-By-2026-Reports-And-Data.html
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact:
John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
LinkedIn | Twitter | Blogs