Global Cast Elastomer Market Overview
Cast Elastomer Market Size Was Valued at USD 1.32 Billion in 2023 and is Projected to Reach USD 1.77 Billion by 2032, Growing at a CAGR of 3.3% From 2024-2032.
Cast elastomers are referred to as thermosetting, akin to natural and synthetic rubbers. These elastomers are based on either polyether and/or polyesters. Cast elastomers possess significant physical properties, incorporating abrasion resistance and load-bearing. They also have other beneficial properties such as tensile strength and tear resistance. Cast elastomers offer different innate capabilities such as abrasion resistance, resilience, impact strength, and resistance to oil and grease. Elastomers are polymers distinguished by possessing viscoelasticity. Furthermore, elastomers are known to retain their original structure and characteristics for utilization in longer and high-performance systems. These are utilized in various applications including slide plates, bearings, shock absorbers, bumpers, wear strips, and many others.
Cast elastomers provide better longevity as compared to plastics rubbers, and metals. Moreover, cast elastomers are accessible in two types namely hot cast and cold cast. Hot cast elastomers are applied in attentive applications that need strong performance. Processing of these elastomers generally requires heated components and tooling, along with hot post-cure to optimize properties. These elastomers are particularly utilized in the mining industry. In addition, cold cast elastomers are two or three-component PU high-performance systems. Cold cast elastomers are utilized in various applications, ranging from flexible polyurethane resin or foam to very hard plastics. These elastomers are composed for applications at room temperature and do not require heat post curation, making them simple and fast to produce. Amidst the COVID-19 pandemic, the global market for Cast Elastomers projected at US$1.2 Billion in the year 2020, is estimated to gain a revised size of US$1.5 Billion by 2027, during the forecast period.
COVID-19 Impact on the Cast Elastomers Market
COVID-19 has helped the industrial and manufacturing sectors into an unknown operating environment globally. Government restrictions on the number of people that can gather at one place have poorly influenced the sectors. For instance, the component manufacturing sector is highly impacted by the covid-19. The production and factory operations in the automotive, aerospace and electronics, industries were temporarily shut down during the lockdown period. Many of the industries are dependent on China for raw material supply. Therefore, supply chain disruptions also have had a major impact on industrial output. The global economy had contracted owing to the pandemic. The impact of COVID-19 on all industries will continue as long as the pandemic lasts. Factors such as liquidity scarcity, loss in investments, labor shortage, supply chain constraints, and the overall global economic uncertainty are affecting the growth of the industrial sector. For the last few months, most of the economies, such as India, China, and the US, have opened the economy, and industrial activities have started but with limited workforce and materials. The industrial output is anticipated to rebound as most of the economies have started opening. The manufacturers of cast elastomers have also faced an adverse impact of COVID-19 on sales volume in the first and second quarters of 2020. Key players in the market are mitigating the risk by particularly targeting local management and by focusing on untapped market opportunities.
Market Dynamics And Factors For The Cast Elastomers Market
Drivers:
Growing demand for cast elastomers in various end-use industries, superior significance over conventional materials, and rise in demand for these elastomers in developing countries are major factors turning the cast elastomers market. The cast elastomers market has been growing owing to the increase in the application of cast elastomers in end-use industries such as industrial, automotive & transportation, mining, and oil & gas. Additionally, in the mining industry, hot cast polyurethane elastomers are especially utilized in mineral processing applications such as conveyor scrapers, separating screens, and other components. The high load-bearing capacity, high abrasion resistance, resilience, and influence strength properties of cast polyurethane elastomers assist raise the performance and longevity of mining equipment. The development in the cast elastomers market will also be helped by the rising output in the mining industry with increasing exploration activities, particularly in the developing countries.
Restraints:
Cast elastomers poorly influence the environment and human health. For instance, Isocyanates are mostly reactive and low molecular weight chemicals which are utilized in the manufacturing of products such as flexible and rigid foams, coatings, fibers, varnishes, and elastomers. Isocyanates such as MDI, TDI, and HDI, which are toxic, are the major raw materials used for the manufacturing of polyurethane cast elastomers. Therefore, there is widespread opposition against the sales and utilization of these chemicals. These are major factors hindering the global cast elastomers market. Moreover, compliance with strict regulations and standards and differentiation in prices of raw materials are the key challenges being experienced by producers of cast elastomers.
Opportunities:
Continuous technological advancements present profitable opportunities to the global cast elastomers market. Growth in demand for cast elastomers in developing countries and a rise in manufacturing activities are also creating opportunities for the cast elastomers market in the upcoming years.
Market Segmentation
Segmentation Analysis of Cast Elastomers Market:
Based on Type, the hot cast elastomer segment is expected to dominate the cast elastomers market over the forecast period. The major growth driver of the high utilization of these cast elastomers is due to their properties such as cost-effectiveness, adaptability, and durability. Hot cast elastomers possess an extensive range of applications and exhibit properties of polyurethane. These elastomers are utilized in applications such as rollers and industrial wheels, which demand a high degree of performance. These elastomers find usage in mining, oil, heavy-duty equipment, medical, automotive, and transport industries. Rising demand for machinery and equipment in these end-use industries is anticipated to support the growth of the hot cast elastomer segment.
Based on Application, the industrial sector is the highest end-use industry for the cast elastomer market during the forecast period. The rising demand in this segment is attributed to its extensive variety of applications in the industrial sector. The rising number of industries producing high demand for equipment and machinery is helping enhance the demand for cast elastomers in this sector. Cast elastomers are used in the industrial sector in a wide range of applications such as conveyor belts, coupling elements, forklift wheels, seals & gaskets, and others. These are used in various sectors such as paper, construction, heavy industries, and others. Rising demand for machinery is directly anticipated to affect the cast elastomers market positively.
Based on Distribution Channels, online distribution channels are expected to dominate the market during the forecast period. Owing to the penetration of the internet as well as smart devices such including smartphones, accessible laptops. The online distribution mode enables the seller to serve the larger market which expands their domestic location.
Regional Analysis of Cast Elastomers Market:
The Asia Pacific is expected to dominate the cast elastomers market during the forecast period. Significant economic development and a growing customer base have led to this rise in demand. Furthermore, growth in population and rising urbanization are also driving the manufacturing sector. Additionally, growth in industrialization, rising demand due to changing demographics, and government initiatives to attract business investments in industries such as automotive, power, oil & gas, are also turning the market for cast elastomers in the region. Growing production of automotive in this region will also spur the demand in the coming years.
Owing to an immense amount of industrial manufacturing plants, and the maximum usages of the product in mining equipment, the US is anticipated to be the rising market for cast elastomers in North America.
The augmented product demand in the manufacturing of automotive parts and industrial components such as industrial bearings and bushings, roller coating, belt scrapers, and casing components is anticipated to drive the growth of the European market.
The markets in Latin America and the Middle East & Africa are estimated to present substantial growth owing to significant evolution in end-use sectors such as petroleum & gas and mining.
Players Covered in Cast Elastomer market are :
- DowDuPont Inc.
- BASF SE
- VCM Polyurethanes Pvt. Ltd.
- LANXESS AG
- Accella Polyurethane Systems
- Tosoh Corporation
- Axson Technologies
- Chemline Inc.
- Coim S.p.A (Coim Group)
- Covestro AG
- Wanhua Chemical Group Co.Ltd
- Herikon; Huntsman Corporation
- Luc Group
- Everchem Specialty Chemicals
- Makro Chemical Endustriyel Kimyasallar San. Ve Tic. Ltd. Ti
- Mitsui Chemicals Inc.
- TAIWAN PU CORPORATION
- Notedome Ltd.
- Perstorp Holding AB
- Synthesia Internacional SLU
- Polycoat Products LLC.
- RECKLI GmbH
- Sapici S.p.A.
- Era Polymers Pty. Ltd and others major key players.
Key Industry Developments In The Cast Elastomers Market
- In December 2020, Huntsman Corporation announced the signing agreement for the collaboration with Lintech International LLC for the distribution of DALTOCAST, a polyurethane-based hot-cast elastomer system.
- In August 2020, Lanxess designed the latest range of MDI polyether prepolymers from bio-based raw materials under the brand name Adiprene Green. The properties of Adiprene Green are similar to the fossil-based polyether elastomers offered by the company.
Cast Elastomer Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.32 Bn. |
Forecast Period 2024-32 CAGR: |
3.3% |
Market Size in 2032: |
USD 1.77 Bn. |
Segments Covered: |
By Type |
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By Application |
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By Distribution Channels |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By Application
ā3.3 By Distribution Channels
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā4.3.1 Drivers
āā4.3.2 Restraints
āā4.3.3 Opportunities
āā4.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 5: Cast Elastomers Market by Type
ā5.1 Cast Elastomers Market Overview Snapshot and Growth Engine
ā5.2 Cast Elastomers Market Overview
ā5.3 Hot Cast Elastomer
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2016-2028F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Hot Cast Elastomer: Grographic Segmentation
ā5.4 Cold Cast Elastomer
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2016-2028F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Cold Cast Elastomer: Grographic Segmentation
Chapter 6: Cast Elastomers Market by Application
ā6.1 Cast Elastomers Market Overview Snapshot and Growth Engine
ā6.2 Cast Elastomers Market Overview
ā6.3 Automotive & Transportation
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size (2016-2028F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 Automotive & Transportation: Grographic Segmentation
ā6.4 Agriculture
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size (2016-2028F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 Agriculture: Grographic Segmentation
ā6.5 Industrial
āā6.5.1 Introduction and Market Overview
āā6.5.2 Historic and Forecasted Market Size (2016-2028F)
āā6.5.3 Key Market Trends, Growth Factors and Opportunities
āā6.5.4 Industrial: Grographic Segmentation
ā6.6 Oil & Gas
āā6.6.1 Introduction and Market Overview
āā6.6.2 Historic and Forecasted Market Size (2016-2028F)
āā6.6.3 Key Market Trends, Growth Factors and Opportunities
āā6.6.4 Oil & Gas: Grographic Segmentation
ā6.7 Other
āā6.7.1 Introduction and Market Overview
āā6.7.2 Historic and Forecasted Market Size (2016-2028F)
āā6.7.3 Key Market Trends, Growth Factors and Opportunities
āā6.7.4 Other: Grographic Segmentation
Chapter 7: Cast Elastomers Market by Distribution Channels
ā7.1 Cast Elastomers Market Overview Snapshot and Growth Engine
ā7.2 Cast Elastomers Market Overview
ā7.3 Online
āā7.3.1 Introduction and Market Overview
āā7.3.2 Historic and Forecasted Market Size (2016-2028F)
āā7.3.3 Key Market Trends, Growth Factors and Opportunities
āā7.3.4 Online: Grographic Segmentation
ā7.4 Offline
āā7.4.1 Introduction and Market Overview
āā7.4.2 Historic and Forecasted Market Size (2016-2028F)
āā7.4.3 Key Market Trends, Growth Factors and Opportunities
āā7.4.4 Offline: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
ā8.1 Competitive Landscape
āā8.1.1 Competitive Positioning
āā8.1.2 Cast Elastomers Sales and Market Share By Players
āā8.1.3 Industry BCG Matrix
āā8.1.4 Ansoff Matrix
āā8.1.5 Cast Elastomers Industry Concentration Ratio (CR5 and HHI)
āā8.1.6 Top 5 Cast Elastomers Players Market Share
āā8.1.7 Mergers and Acquisitions
āā8.1.8 Business Strategies By Top Players
ā8.2 DOWDUPONT INC.
āā8.2.1 Company Overview
āā8.2.2 Key Executives
āā8.2.3 Company Snapshot
āā8.2.4 Operating Business Segments
āā8.2.5 Product Portfolio
āā8.2.6 Business Performance
āā8.2.7 Key Strategic Moves and Recent Developments
āā8.2.8 SWOT Analysis
ā8.3 BASF SE
ā8.4 VCM POLYURETHANES PVT. LTD.
ā8.5 LANXESS AG
ā8.6 ACCELLA POLYURETHANE SYSTEMS
ā8.7 TOSOH CORPORATION
ā8.8 AXSON TECHNOLOGIES
ā8.9 CHEMLINE INC.
ā8.10 COIM S.P.A (COIM GROUP)
ā8.11 COVESTRO AG
ā8.12 WANHUA CHEMICAL GROUP CO.LTD
ā8.13 HERIKON
ā8.14 HUNTSMAN CORPORATION
ā8.15 LUC GROUP
ā8.16 EVERCHEM SPECIALTY CHEMICALS
ā8.17 MAKRO CHEMICAL
ā8.18 MITSUI CHEMICALS INC.
ā8.19 TAIWAN PU CORPORATION
ā8.20 NOTEDOME LTD.
ā8.21 PERSTORP HOLDING AB
ā8.22 SYNTHESIA INTERNACIONAL SLU
ā8.23 POLYCOAT PRODUCTS LLC.
ā8.24 RECKLI GMBH
ā8.25 SAPICI S.P.A.
ā8.26 ERA POLYMERS PTY. LTD
ā8.27 OTHER MAJOR PLAYERS
Chapter 9: Global Cast Elastomers Market Analysis, Insights and Forecast, 2016-2028
ā9.1 Market Overview
ā9.2 Historic and Forecasted Market Size By Type
āā9.2.1 Hot Cast Elastomer
āā9.2.2 Cold Cast Elastomer
ā9.3 Historic and Forecasted Market Size By Application
āā9.3.1 Automotive & Transportation
āā9.3.2 Agriculture
āā9.3.3 Industrial
āā9.3.4 Oil & Gas
āā9.3.5 Other
ā9.4 Historic and Forecasted Market Size By Distribution Channels
āā9.4.1 Online
āā9.4.2 Offline
Chapter 10: North America Cast Elastomers Market Analysis, Insights and Forecast, 2016-2028
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Hot Cast Elastomer
āā10.4.2 Cold Cast Elastomer
ā10.5 Historic and Forecasted Market Size By Application
āā10.5.1 Automotive & Transportation
āā10.5.2 Agriculture
āā10.5.3 Industrial
āā10.5.4 Oil & Gas
āā10.5.5 Other
ā10.6 Historic and Forecasted Market Size By Distribution Channels
āā10.6.1 Online
āā10.6.2 Offline
ā10.7 Historic and Forecast Market Size by Country
āā10.7.1 U.S.
āā10.7.2 Canada
āā10.7.3 Mexico
Chapter 11: Europe Cast Elastomers Market Analysis, Insights and Forecast, 2016-2028
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Hot Cast Elastomer
āā11.4.2 Cold Cast Elastomer
ā11.5 Historic and Forecasted Market Size By Application
āā11.5.1 Automotive & Transportation
āā11.5.2 Agriculture
āā11.5.3 Industrial
āā11.5.4 Oil & Gas
āā11.5.5 Other
ā11.6 Historic and Forecasted Market Size By Distribution Channels
āā11.6.1 Online
āā11.6.2 Offline
ā11.7 Historic and Forecast Market Size by Country
āā11.7.1 Germany
āā11.7.2 U.K.
āā11.7.3 France
āā11.7.4 Italy
āā11.7.5 Russia
āā11.7.6 Spain
āā11.7.7 Rest of Europe
Chapter 12: Asia-Pacific Cast Elastomers Market Analysis, Insights and Forecast, 2016-2028
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Hot Cast Elastomer
āā12.4.2 Cold Cast Elastomer
ā12.5 Historic and Forecasted Market Size By Application
āā12.5.1 Automotive & Transportation
āā12.5.2 Agriculture
āā12.5.3 Industrial
āā12.5.4 Oil & Gas
āā12.5.5 Other
ā12.6 Historic and Forecasted Market Size By Distribution Channels
āā12.6.1 Online
āā12.6.2 Offline
ā12.7 Historic and Forecast Market Size by Country
āā12.7.1 China
āā12.7.2 India
āā12.7.3 Japan
āā12.7.4 Singapore
āā12.7.5 Australia
āā12.7.6 New Zealand
āā12.7.7 Rest of APAC
Chapter 13: Middle East & Africa Cast Elastomers Market Analysis, Insights and Forecast, 2016-2028
ā13.1 Key Market Trends, Growth Factors and Opportunities
ā13.2 Impact of Covid-19
ā13.3 Key Players
ā13.4 Key Market Trends, Growth Factors and Opportunities
ā13.4 Historic and Forecasted Market Size By Type
āā13.4.1 Hot Cast Elastomer
āā13.4.2 Cold Cast Elastomer
ā13.5 Historic and Forecasted Market Size By Application
āā13.5.1 Automotive & Transportation
āā13.5.2 Agriculture
āā13.5.3 Industrial
āā13.5.4 Oil & Gas
āā13.5.5 Other
ā13.6 Historic and Forecasted Market Size By Distribution Channels
āā13.6.1 Online
āā13.6.2 Offline
ā13.7 Historic and Forecast Market Size by Country
āā13.7.1 Turkey
āā13.7.2 Saudi Arabia
āā13.7.3 Iran
āā13.7.4 UAE
āā13.7.5 Africa
āā13.7.6 Rest of MEA
Chapter 14: South America Cast Elastomers Market Analysis, Insights and Forecast, 2016-2028
ā14.1 Key Market Trends, Growth Factors and Opportunities
ā14.2 Impact of Covid-19
ā14.3 Key Players
ā14.4 Key Market Trends, Growth Factors and Opportunities
ā14.4 Historic and Forecasted Market Size By Type
āā14.4.1 Hot Cast Elastomer
āā14.4.2 Cold Cast Elastomer
ā14.5 Historic and Forecasted Market Size By Application
āā14.5.1 Automotive & Transportation
āā14.5.2 Agriculture
āā14.5.3 Industrial
āā14.5.4 Oil & Gas
āā14.5.5 Other
ā14.6 Historic and Forecasted Market Size By Distribution Channels
āā14.6.1 Online
āā14.6.2 Offline
ā14.7 Historic and Forecast Market Size by Country
āā14.7.1 Brazil
āā14.7.2 Argentina
āā14.7.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion
Cast Elastomer Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 1.32 Bn. |
Forecast Period 2024-32 CAGR: |
3.3% |
Market Size in 2032: |
USD 1.77 Bn. |
Segments Covered: |
By Type |
|
|
By Application |
|
||
By Distribution Channels |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Cast Elastomers Market research report is 2024-2032
DowDuPont Inc., BASF SE, VCM Polyurethanes Pvt. Ltd., LANXESS AG, Accella Polyurethane Systems, Tosoh Corporation, Axson Technologies, Chemline Inc., Coim S.p.A (Coim Group), Covestro AG, Wanhua Chemical Group Co.Ltd, Herikon; Huntsman Corporation, Luc Group, Everchem Specialty Chemicals, Makro Chemical Endustriyel Kimyasallar San. Ve Tic. Ltd. Ti, Mitsui Chemicals Inc., TAIWAN PU CORPORATION, Notedome Ltd., Perstorp Holding AB, Synthesia Internacional SLU, Polycoat Products LLC., RECKLI GmbH, Sapici S.p.A., Era Polymers Pty. Ltd., and Other Major Players.
Cast Elastomers Market is segmented into Type, Application, Distribution Channels and region. By Type, the market is categorized into Hot Cast Elastomer, Cold Cast Elastomer. By Application, the market is categorized into Automotive & Transportation, Agriculture, Industrial, Oil & Gas, Other. By Distribution Channels, the market is categorized into Online, Offline, Others. By region, it is analysed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Cast elastomers are referred to as thermosetting, akin to natural and synthetic rubbers. These elastomers are based on either polyether and/or polyesters. Cast elastomers possess significant physical properties, incorporating abrasion resistance and load-bearing
Cast Elastomer Market Size Was Valued at USD 1.32 Billion in 2023 and is Projected to Reach USD 1.77 Billion by 2032, Growing at a CAGR of 3.3% From 2024-2032.