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1. Product Structure Features
Mechanical seals are divided into metal seals and non-metal seals, with metal seals having a higher demand. In 2022, the market size of metal seals in China will be nearly 100 billion yuan, accounting for about 55% of the mechanical seal market. Composite sealing components can improve the comprehensive performance of sealing products and will usher in growth opportunities in the future. With the increasing demand for mechanical seal performance in the market, composite sealing components will enter a high-speed growth stage.
Mechanical seals are divided into metal seals and non-metal seals, with metal seals having a higher demand. In 2022, the market size of metal seals in China will be nearly 100 billion yuan, accounting for about 55% of the mechanical seal market. Composite sealing components can improve the comprehensive performance of sealing products and will usher in growth opportunities in the future. With the increasing demand for mechanical seal performance in the market, composite sealing components will enter a high-speed growth stage.
2. Changes in market landscape
The global mechanical seal industry presents a highly concentrated market pattern, with the high-end product field mainly monopolized by industry giants such as John Crane and Iger Bergman. Unlike foreign countries, the overall competitive landscape of China's mechanical seal market presents a polarized characteristic, with complete competition and dispersion in the low-end product market, and fewer domestic participants in the high-end product market. However, with the gradual withdrawal of old equipment and outdated production capacity in downstream industries, as well as capacity upgrades, and the merger and integration of large seal production enterprises, the mechanical seal market in China is becoming more concentrated.
3. Application field demand growth
The development of emerging industries has driven an increase in demand for mechanical seal products. Taking the environmental protection industry as an example, compressors and centrifugal pumps in large sewage treatment equipment require mechanical seal products. With the advancement of urbanization, the increase of industrial wastewater, and the improvement of environmental protection requirements, the sewage treatment capacity needs to be continuously improved. The increase in investment in related environmental protection facilities will continue to drive the demand for mechanical seal products. The demand for traditional industry applications is developing towards large-scale, high parameter, energy-saving and environmental protection. Coupled with the demand in emerging market fields, the downstream application areas of mid to high end mechanical seals are constantly extending, and market demand will be further released. It is expected that the stock market size of mid to high end mechanical seals in China will reach 8 billion yuan by 2025.
