Increasing demand for cast elastomers from the automotive industry is one of the significant factors influencing the market growth.
Market Size – USD 1,310.4 Million in 2019, Market Growth – at a CAGR of 4.3%, Market Trend – Growth of the oil & gas industry
The global cast elastomers market is expected to be valued at USD 1,842.2 million by 2027 from USD 1,310.4 million in 2019, registering a CAGR of 4.3% through the forecast period, according to the latest report by Emergen Research.
There is strong demand from the automotive industry for cast elastomers. In some of the most challenging sectors, such as the automotive industry, cast elastomers are deployed. Cast elastomers (e.g., polyurethanes) have significant load-bearing power, resistance to abrasion, impact resistance, elasticity, and outstanding resistance to lubricants such as oil and grease.
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Cast elastomers are mostly used in automotive manufacturing in parts and components that need to withstand the effects of stretching, slipping, torsional forces, wear and tear, load-bearing, compression, and ageing. Motor and transmission mounts, damper springs, suspension pads, drive belts, filters, dunnage, tyres, wheel fill, sprockets, and gears are components made from cast elastomers.
For rollers and conveyor parts in the food industry, the unparalleled gripping characteristics, durability, and cut resistance of cast elastomers make them ideal materials. Decreased downtime, reduced product damage and loss, reduced product pollution, less noise generation than metal, ease of cleaning, and longer service life compared to rubber or plastic are the main advantages of cast elastomers.
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Key Report Highlights
- Huntsman Corporation made an announcement in December 2020 about the signing of a collaboration contract with Lintech International LLC for the distribution of DALTOCAST, a hot cast elastomer device based on polyurethane.
- In several end-user industries, especially the mining industry, hot cast elastomers are widely used as pipe linings, separating screens, idler rolls, conveyor scrapers, and in the flotation process, several components and parts. In other end-user industries, the manufacturing of wheels, rollers, and tyres uses hot cast elastomers.
- The cast urethane process is used in numerous industries to manufacture custom moulded products that comply with precise component requirements, requiring high-quality custom moulded elastomer products such as agriculture, automotive, and oil & gas. In addition, these products have high resistance to wear and tear compared to metal products that develop cracks and corrode during industrial use.
- The demand for cast elastomers in North America, led by the U.S., experienced significant growth in 2019 due to the expansion of the region’s automotive and oil & gas industries. The involvement of leading industry players in North America is also improving the region’s market.
- Key market participants include Huntsman Corporation, BASF SE, Era Polymers, Lanxess AG, Wanhua Chemical Group, Covestro AG, Coim Group, DowDuPont, Mitsui Chemicals, and Chemline Inc.
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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
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