The global cast elastomers market is expected to reach a valuation of USD 1,842.2 Million by 2027, as per the latest report by Emergen Research. This growth of the market is attributable to the robust expansion of the global automobile industry. Cast elastomers are deployed in the automotive industry for their considerable load-bearing capacity and impact strength. The huge demand for elastomers from end-use industries is driving the growth of the global cast elastomers market. Additionally, the cast elastomers possess elasticity and exceptional resistance to lubricants, including oils and grease, which improves the scope of their applications. This is a key factor fueling the growth of the global cast elastomers market.
Further, the cast elastomers are placed in the automobile parts and components of automobiles for their stretching, torsional forces, sliding, load-bearing, wear and tear, compression, and aging properties. Owing to these applications, the cast elastomers are observing robust demand, and in turn, the market is estimated to see growth in the coming years. Additionally, the components such as motor and transmission mounts, suspension pads, damper springs, drive belts, dunnage, filters, tires, sprockets, wheels fill, and gears are usually made from cast elastomers. Increasing demand for such parts of vehicles and industrial instruments is propelling the growth of the global cast elastomers market.
The unmatched gripping characteristics and other properties of cast elastomers boost its application across the food & beverages industry. This is one of the key factors fueling the growth of the global cast elastomers market and is expected to remain the same in the coming years.
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Key Highlights of Report
- In December 2020, Huntsman Corporation and Lintech International LLC entered into a contract for the distribution of DALTOCAST. It is a polyurethane-based hot cast elastomer system
- On the basis of product type, hot cast elastomers sub-segment is seeing wide expansion owing to robust demand from the industries for manufacturing several parts. The parts of industrial machines, such as mining, pipe linings, idler rolls, separating screens, and several other components such as conveyor scrapers and parts in the flotation process, are manufactured from cast elastomers. The demand for such pats is boosting the growth of the cast elastomers market.
- Regionally, North America is estimated to remain dominant in the cast elastomers market by holding a substantial share in the revenue during the forecast period. The U.S. held a substantial share of revenue in 2019, owing to the expansion of automotive and oil & gas industries in the region.
- Key participants in the cast elastomers market include BASF SE, Huntsman Corporation, Era Polymers, Wanhua Chemical Group, Lanxess AG, Covestro AG, DowDuPont, Coim Group, Mitsui Chemicals, and Chemline Inc.
Emergen Research has segmented the global cast elastomers market in terms of product type, distribution channel, application, and region:
- Product Type Outlook (Revenue, USD Million; 2017–2027)
- Cold Cast Elastomers
- Hot Cast Elastomers
- Distribution Channel Outlook (Revenue, USD Million; 2017–2027)
- Application Outlook (Revenue, USD Million; 2017–2027)
- Automotive & Transportation
- Oil & Gas
- Sports & Leisure
- Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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