Carbon Seal Rings Market Size

Carbon Seal Rings Market size is expected to surpass USD 6 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of carbon seal rings was USD 3 Billion. The growth of the market can be attributed to the rising adoption of advanced manufacturing processes. Two processes of advanced manufacturing, including 3D printing and computer-aided design (CAD), are been utilized for the production of more advanced and personalized models of carbon seal rings. As manufacturers begin to seek to boost production in manufacturing 3D printing is becoming growing in popularity in the aerospace, automotive, medical device, and other industries that rely on complex pieces to build final products. In the world, around 87% of businesses expect their utilization of 3D printing to more than double, and nearly 40% predict it to rise fivefold or more.

In addition to these, factors that are believed to fuel the market growth of carbon seal rings include the increasing production of carbon graphite. The total worldwide graphite manufacturing in 2022 is expected to be around 1 million metric tonnes. This figure shows an increase of around 15% over the previous year. With the growing production of graphite, the availability of high-quality carbon in the market improves the manufacturing of carbon seal rings. Moreover, the abundant supply of carbon graphite has resulted in the production of carbon seal rings much cheaper. This makes the final product more cost-effective and increases its adoption across various industries.