The global demand for Cast Elastomer Market is presumed to reach the market size of nearly USD 3.61 MN by 2028 from USD 2.4 MN in 2021 with a CAGR of 6% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Kilo Ton in 2021 and forecast to touch XX Kilo Ton by 2028 with a CAGR of XX% during 2022-2028.
Cast elastomers refer to rubber-like thermosetting polymers with strong, stiff, and long-lasting viscoelastic properties. These elastomers have application in high-performance systems such as air filters, motor and transmission mounts, bed liners, slide plates, shock-absorbers, plates, bearings, and many more. They are stretchable materials and offer better durability compared to plastics, rubbers, and metals. Cast elastomers are categorized into two types – hot cast and cold cast. Properties of cast elastomers include resistance to abrasion, high tensile strength, high load-bearing capacity, flexible and shape retention. Cast elastomers are popular in the automotive industry due to their exceptional mouldable properties, durability, and performance.
Market Dynamics
The growing demand for cast elastomers in the automotive, oil and gas, mining, transportation, and industrial sectors is expected to push the market growth. Moreover, rapid industrialization and modernization transformation gave rise to the demand for efficient repairing services that will further propel market growth. Furthermore, the advantageous nature of cast elastomers over conventional materials and raising awareness about the better mechanical and chemical features will benefit market growth. However, cast elastomers have harmful effects on the environment and human health as it can cause skin, eye, nose, throat, and lung irritation will be the primary constraint hampering the market growth. Also, rigorous government policies and fluctuating raw material prices are expected to be the hindering constraints for market growth.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of cast elastomer. The growth and trends of Cast Elastomer Industry provide a holistic approach to this study.
Market Segmentation
This section of the cast elastomer market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Hot Cast Elastomer
- Cold Cast Elastomer
By End-Use Industry
- Industrial
- Automotive & Transportation
- Oil & Gas
- Mining
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Cast Elastomer market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Cast Elastomer Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the cast elastomer market include Covestro AG (Germany), Huntsman Corporation (US), Lanxess (Germany), Dow (US), BASF (Germany), Tosoh Corporation (Japan), Mitsui Chemicals, Inc. (Japan), and Era Polymers (Australia). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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