Pharmaceutical Processing Seals Market May Cross US$ 3.3 Billion by 2026| Garlock Sealing Technologies, John Crane, IDEX Corporation, Marco Rubber and Plastics, Technetics Group, and others
The global market size of pharmaceutical processing seals is estimated at USD 2.1 Billion in 2021 and is projected to reach USD 3.3 Billion by 2026, at a CAGR of 10.0% between 2021 and 2026. Seals are an important part of pharmaceutical equipment and are used for various applications in the pharmaceutical industry, such as preventing contamination and leakage, and handle friction and abrasion. The properties present in pharmaceutical processing seals such as excellent chemical resistance and stability at extreme temperatures and pressure conditions enable them to be used in different applications. These properties of pharmaceutical processing seals are expected to drive the demand during the forecast period.
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The demand for pharmaceutical processing seals is mainly catered to by global players manufacturing these equipments for various end-use applications. The key players in the pharmaceutical processing seals market include Trelleborg AB (Sweden), Freudenberg Group (Germany), Flowserve Corporation (US), James Walker (UK), Parker Hannifin Corporation (US), Saint-Gobain S.A. (France), Garlock (US), John Crane (US), IDEX Corporation (US), and Morgan Advanced Materials Plc (UK). The pharmaceutical processing seals market report analyzes the key growth strategies adopted by the leading market players, between 2018 and 2020, which include expansion, joint venture, new product development, and merger & acquisition.
Freudenberg Group is one of the leading manufacturers of pharmaceutical processing seals. The company operates through three business segments, namely, seals and vibration control technology, nonwovens and filtration, household, and specialties and others business segments. The company offers sealing solutions for the pharmaceutical industry through its subsidiary, namely, Freudenberg Sealing Technologies, which is a major player operating in the pharmaceutical processing seals market offering a wide range of sealing solutions for the pharmaceutical industry. The major advantage for the company is that it is backward integrated, and hence can easily formulate customized products according to the customers’ demands. The company offers a wide range of seals for the pharmaceutical industry, such as agitator seals, standard cartridge seals, pusher seals, couplings, and gaskets. It offers sealing solutions to process industry, fluid technologies, mobile machinery, power and many others. The company offer pharmaceutical sealing solutions through the process industry market.
Trelleborg AB is among the key players in the pharmaceutical processing seals market, which has adopted growth strategies of merger & acquisition, expansion, and new product development. The company offers engineered polymer solutions, which are used in sealing, damping, and protecting applications. It offers sealing solutions for the pharmaceutical industry through its subsidiary, namely, Trelleborg Sealing Solutions. The company offers O-rings, gaskets, and diaphragms for pharmaceutical sealing application. It has a strong geographical presence in more than 40 countries with 28 manufacturing facilities and 9 R&D centers in Europe and the Americas.
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Companies have initiated the following developments:
In 2021, Parker Hannifin Corporation reported that it had reached an agreement on the terms of a recommended cash acquisition of all of Meggitt Plc's issued and future ordinary share capital (Meggitt).
In 2019, Trelleborg AB acquired Sil-Pro, LLC, a privately held contract manufacturer in the US that specializes in high-tolerance silicone and thermoplastic components and medical device assembly.
In 2020, Freudenberg Klüber Lubrication München SE and Co. KG, Munich, Germany (part of the Freudenberg Chemical Specialities Business Group), purchased all of the shares of Traxit International GmbH, Schwelm, Germany. As part of the Freudenberg Group, the company is fully consolidated. A total of USD 55.5 million in assets was purchased.
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