At 6.4% CAGR, the Asia Pacific ANSI Cartridge Seals Market is projected to be worth US$ 182.56 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific ANSI cartridge seals market is expected to grow from US$ 118.30 million in 2023 to US$ 182.56 million by 2030, registering a CAGR of 6.4% from 2023 to 2030. Increasing adoption in the chemical & petrochemical industry and increasing strategic initiatives from manufacturers to expand production are the critical factors attributed to the Asia Pacific ANSI cartridge seals market expansion.             

The increasing demand from chemical & petrochemical, pharmaceutical, and food & beverages industries is helping drive the adoption of cartridge seals. Companies are opening new manufacturing plants and taking up initiatives such as partnerships and mergers to expand their presence. Moreover, in May 2023, EagleBurgmann was a partner of the oil and gas industry and contributed to the reliability of the transportation process by providing innovative sealing solutions. EagleBurgmann introduced a new smart technology for the digital condition of monitoring seals. This is expected to drive the Asia Pacific ANSI cartridge seals market during the forecast period.

On the contrary, high initial costs and availability of alternative mechanical seals hurdles the growth of Asia Pacific ANSI cartridge seals market. 

Based on type, the Asia Pacific ANSI cartridge seals market is bifurcated into single cartridge seals and dual cartridge seals. The single cartridge seals segment held 53.1% market share in 2023, amassing US$ 62.78 million. It is projected to garner US$ 90.51 million by 2030 to expand at 5.4% CAGR during 2023–2030.

Based on application, the Asia Pacific ANSI cartridge seals market is categorized into chemical & petrochemical industry, pharmaceutical industry, food & beverage industry, and others. The others segment held 45.9% market share in 2023, amassing US$ 54.31 million. It is projected to garner US$ 89.97 million by 2030 to expand at 7.5% CAGR during 2023–2030.

Based on country, the Asia Pacific ANSI cartridge seals market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific.  Our regional analysis states that China captured 34.2% share of Asia Pacific ANSI cartridge seals market in 2023. It was assessed at US$ 40.41 million in 2023 and is likely to hit US$ 66.88 million by 2030, exhibiting a CAGR of 7.5% during the forecast period.        

Key players operating in the Asia Pacific ANSI cartridge seals market are A W Chesterton Co; Sealing Technology; AESSEA Plc; HI-FAB Engineers Pvt. Ltd.; Scenic Co., Ltd; Flowserve Corporation; EagleBurgmann Germany GmbH & Co KG; and Flexaseal Engineered Seals and Systems, LLC., among others.

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