Austin, Oct. 02, 2024 (GLOBE NEWSWIRE) -- As per the SNS Insider research, The Cast Elastomer Market Size was valued at USD 1.3 billion in 2023 and is expected to reach USD 2.0 billion by 2032 and grow at a CAGR of 6.0% over the forecast period 2024-2032.
Various influential factors have contributed to the strong growth witnessed in the Cast Elastomer Market. Technological advancement in the production process, amid increased demand for cast elastomers in high-performance applications, has tended to drive the market considerably. For instance, in September 2023, the company BASF introduced a new line of cast elastomer products that focus on increasing durability and flexibility in automotive components to reinforce their market position. Also, in June 2022, Dow Chemical came up with a new launch of cast elastomer material for aerospace applications. This is indicating that the industry is shifting toward high-performance materials.
Get a Report Sample of Cast Elastomer Market @ https://www.snsinsider.com/sample-request/2292
Key Players
Accella Corporation (Accella Polyurethane Systems, Accella Thermoplastic Elastomers)
BASF SE (Elastollan, Elastoflex)
Chemline (Chemline Polyurethane Cast Elastomers, Chemline Urethane Systems)
Covestro AG (Desmopan, Bayflex)
The Dow Chemical Company (VORASURF, DOWSIL Silicones)
ERA Polymer (ERA Cast Urethanes, ERA Elastomers)
Huntsman Corporation (Irogran, Rigid Polyurethane Systems)
LANXES, AG (Desmopan, Baytec)
Mitsui Chemicals (APRONEX, MDI-based Polyurethane Systems)
PolyOne Corporation (Versaflex, OnColor TPE)
Wanhua Chemicals (Wanhua Polyurethane, WPU Elastomers)
Momentive Performance Materials (RTV Silicone Elastomers, Silopren)
Kraton Corporation (Kraton G, Kraton D)
Evonik Industries (VESTOSINT, VESTAMID)
TOHO TENAX Co., Ltd. (TENAX Polyamide, TENAX Thermoplastic Composites)
Shin-Etsu Chemical Co., Ltd. (KE-TPU, KE-EPDM)
Trelleborg AB (Trelleborg Sealing Solutions, Trelleborg Coated Fabrics)
DSM Engineering Plastics (Stanyl, Arnitel)
Benvic Europe (Benvic Elastomers, Benvic Thermoplastic Polyurethanes)
Increased industrial automation and the desire for durable components that can bear adverse environmental conditions are factors driving the growth in the market. The various industrial sectors have been able to show how versatile and durable cast elastomers are, hence finding increased applications in oil and gas, mining, manufacturing, and more. Companies in the market, such as Huntsman Corporation, are indulging more in research to come out with advanced cast elastomer solutions that meet changing industry needs. For instance, on 15th March 2024, Huntsman introduced a variety of cast elastomers that could be used in heavy industrial applications. This represents the efforts that are being laid in the industry for innovation and performance improvement.
Cast Elastomer Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.3 Billion |
| Market Size by 2032 | US$ 2 Billion |
| CAGR | CAGR of 6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Hot cast elastomer, Cold cast elastomer) • By End-use Industry (Industrial, Automotive & Transportation, Oil & gas, Mining, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| DRIVERS | • Growing demand over Cast Elastomers in High-Value Industries • significant demand for manufacturing in emerging economies |
If You Need Any Customization on Cast Elastomer Market Report, Enquire Now @ https://www.snsinsider.com/enquiry/2292
Segment Analysis
The Hot Cast Elastomer segment dominated the Cast Elastomer Market, accounting for a share of around 65% in 2023. The reasoning behind this includes the fact that hot cast elastomers have superior properties, which include advanced mechanical strength, super flexibility, and also resistance against extreme temperatures and chemicals. It has wide applications in high-performance areas, including automotive and machinery, where durability and reliability are necessary. In view of this, companies like BASF and Huntsman Corporation have invested seriously in the development of advanced hot cast elastomer solutions that seal their market leadership position and improve the demand for robust material performance in challenging environments.
Trends Analysis: Cast Elastomer Market
The trend in the Cast Elastomer Market goes toward customization and high-performance materials, driven by increasing needs across multiple industries. The reason for this development is new manufacturing technologies, such as 3D printing and precision casting, which allow the production of cast elastomers with tailored properties according to requirements set by an application. The latter trend can be very well noticed in industries such as automotive and aerospace, which seem to demand increasingly elastomers that can withstand extreme conditions with improved performance. Besides, there is an increasing orientation towards sustainability, with manufacturers coming up with eco-friendly cast elastomers that lower the impact on the environment without compromising the quality and durability of the material. This reflects market orientation toward more versatile, high-performance, and environmentally responsible materials.
SNS View: Cast Elastomer Market
The Cast Elastomer Market is one of the most vibrant markets; innovation acts as its growth fuel across a wide and large number of industry segments. It finds its reasons for growth in high performance and sustainability concerns. With the same consideration, firms are involved in offering value-added solutions to cater to requirements across different sectors, from automotive and sports industries to even aerospace. Importance has been marked by increased usage of cast elastomers in industrial automation and the development of structures. In general, there are likely to be continuous developments in the market, driven by technological advancements and by the increase in the need for durable and versatile materials.
Buy Full Research Report on Cast Elastomer Market 2024-2032 @ https://www.snsinsider.com/checkout/2292
Regional Analysis
In 2023, the Asia Pacific region dominated the Cast Elastomer Market with an estimated market share of about 45%. Robust industrial growth, rapid urbanization, and massive investments in infrastructure and manufacturing sectors create this dominance. Large contributions are coming from countries such as China and India due to the wide applications across the automotive, construction, and industrial segments. The high-end automotive components and industrial machinery requirements, for instance, have been on the rise in China, thereby predominantly spiking the consumption of cast elastomers, mainly catalyzed by local participants such as Wanhua Chemical Group and China National Chemical Corporation, creating a stir in innovation and production in the region. The substantial manufacturing infrastructure of the Asia-Pacific is being supplemented by growing industrial activities within the region, thereby acting as a strong force that propels the market forward.
Key Takeaways:
- Technological advancement and rising industrial applications drive growth in the Cast Elastomer Market.
- North America is regarded as the leading market for value due to massive investments in industrial automation and infrastructure development.
- Sustainability and eco-friendliness will be the future-shaping trend for cast elastomers.
- New developments in manufacturing processes and materials should further spur growth and diversification in applications seen in this market.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Cast Elastomer Market Segmentation, by Type
8. Cast Elastomer Market Segmentation, by Raw Material
9. Cast Elastomer Market Segmentation, by Application
10. Cast Elastomer Market Segmentation, by End-use Industry
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
Access Complete Report Description of Cast Elastomer Market Report 2024-2032 @ https://www.snsinsider.com/reports/cast-elastomer-market-2292
[For more information or if you need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
SNS Insider Offering/ Consulting Services:
Go To Market Assessment Service
Total Addressable Market (TAM) Assessment
Competitive Benchmarking and Market Share Gain
