Global Cast Elastomer market scope 2024, Forecast To 2033
26 Jan, 2024
The cast elastomer market has experienced strong growth, increasing from $1.48 billion in 2023 to $1.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period is attributed to automotive industry growth, increasing demand for cast elastomers in industrial machinery components, utilization of cast elastomers in oil and gas applications, increasing footwear industry, and increasing customer electronics. Looking towards 2028, the market is expected to reach $2.08 billion at a CAGR of 7.1%. The forecasted growth is driven by increasing focus on energy efficiency, the growing emphasis on environmentally friendly and sustainable elastomeric materials, expanded use of cast elastomers in the aerospace sector, investments in research and development, and continued growth in the renewable energy sector. Major trends in the forecast period include customization and tailoring, automated manufacturing, advanced R&D and innovation, technological innovations, and the integration of cast elastomers into 3D printing technology.
Global Cast Elastomer Market Key Driver
The cast elastomers market is expanding as the demand for cast elastomers rises in various end-use industries. Australia-based Pacific Urethanes developed UrePacSpraycast elastomers for applications in protective linings and architectural moldings. The versatility of cast elastomers in construction, heavy industry, and other sectors is driving the cast elastomers market growth.
Get A Free Sample Of The Global Cast Elastomer Market ReportGlobal Cast Elastomer Market Segments
The global cast elastomer market covered in this report is segmented –
1) By Type: Hot Cast Elastomer, Cold Cast Elastomer
2) By Distribution: Online, Offline
3) By End-Use Industry: Mining, Automotive And Transportation, Industrial, Oil And Gas, Other End-Users
By Geography: The regions covered in the Cast Elastomer market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Major Cast Elastomer Industry Players
Argonics Inc., BASF SE, Chemline Incorporation, Coim Group, Covestro AG, Du Pont De Nemours and Company, Era Polymers Pty Ltd., Huntsman International LLC, Lanxess AG, Mitsui Chemicals Inc., Notedome Limited, Synthesia Technology, Dow Chemical Company, Tosoh Corporation, Carlisle Polyurethane Systems, Wacker Chemie AG, Momentive Performance Materials Inc., Cast Urethane, Wanhua Chemical Group Co. Ltd., Polyurethane Products Corporation, Huntsman Corporation, Notedome Ltd., Trelleborg AB, RTP Company, PolyOne Corporation, Hexpol AB, Permali Gloucester Limited, Rubberlite Inc., Sanchem Inc.
Get The Full Global Cast Elastomer Market Report
Cast Elastomer Market Overview
Cast elastomers refer to rubber-like polymers that stretch for further than other kinds of materials and, like springs, snap back into shape when the force is released. These are the all polymers that expand with force and then return to their original shape after removing the force applied. These are used in bearings, wear strips, bumpers, shock absorbers, and slide plates.
Cast Elastomer Global Market Report 2023 provides data on the global cast elastomer market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cast elastomer market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.