The global cast elastomers market size is expected to reach USD 1921.4 Million by 2028, and register a revenue CAGR of 4.3% throughout the forecast period. The high revenue growth of the global market is majorly attributed to increasing demand from the automotive industry.
Elastomers are basically rubber-like polymers having high elasticity as compared to other material. Cast elastomers, such as polyurethanes exhibit various outstanding properties including high load-bearing capacity, superior strength and elasticity, excellent abrasion resistance, and exceptional resistance to lubricants like oil and grease. In the production of automobile, cast elastomers are frequently utilized for manufacturing several automotive parts and components that need to resist the effects of sliding, wear and tear, stretching, load-bearing, torsional forces, aging, and compression. Various automotive components manufactured from cast elastomers include damper springs, suspension pads, motor and transmission mounts, drive belts, dunnage, filters, tires, sprockets, wheels fill, and gears.
Growing demand for cast elastomers from several end-use industries, due to superior advantages over other traditional materials is a major factor driving the market revenue growth. Additionally, rapid industrialization in developed as well as developing countries, and rising number of manufacturing units in various emerging countries, because of the low-cost labor and easy availability of raw material are a few factors supporting the revenue growth of the global market.
The unmatched gripping characteristics, cut resistance, and flexibility of cast elastomers make them preferred materials for rollers and conveyor parts, especially in the food industry. The key advantages of cast elastomers include reduced product loss and damage, decreased product contamination, ease of cleaning, less noise production than metal, and longer service life compared to rubber or plastic.
Key Highlights of Report:
- In December 2020, Huntsman Corporation declared about signing of a partnership contract with Lintech International LLC for distribution of DALTOCAST, a polyurethane-based hot cast elastomer system.
- Hot cast elastomers are extensively employed in various end-user industries, particularly the mining industry, as separating screens, pipe linings, idler rolls, conveyor scrapers, and numerous components and parts in the flotation process. In other industries, hot cast elastomers are highly adopted for manufacturing of rollers, wheels, and tires.
- The cast elastomers market in North America, led by the U.S., witnessed substantial revenue growth in the year 2019, owing to rapid growth of automotive and oil & gas industries in the region. Moreover, presence of various major market players also contributes to the high revenue growth of this regional market.
- Leading companies operating in the market include BASF SE, Huntsman Corporation, Era Polymers, Wanhua Chemical Group, Lanxess AG, Covestro AG, DowDuPont, Coim Group, Chemline Inc., and Mitsui Chemicals.
For the purpose of this report, 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; 2018–2028)
- Cold Cast Elastomers
- Hot Cast Elastomers
Distribution Channel Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
- Automotive & Transportation
- Oil & Gas
- Sports & Leisure
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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