Cast Elastomers Market to Reach US$2.1 billion by 2027 - IndustryARC

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Cast Elastomers Market size is forecasted to reach US$2.1 billion by 2027, after growing at a CAGR of 5.7% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, February 3, 2023 /EINPresswire.com/ -- The Cast Elastomers Market size is forecasted to reach US$2.1 billion by 2027, after growing at a CAGR of 5.7% during the forecast period 2022-2027. The polymers that possess elastic characteristics are known as cast elastomers. They own beneficial properties such as toughness, stiffness, durability, strength and viscoelasticity. Polyurethane cast elastomer is a liquid form of polymer chemical compound formed between polyol and isocyanate. These elastomers are manufactured with a combination of isocyanates such as methylene diphenyl diisocyanate (MDI) or toluene diisocyanate (TDI) and polymeric polyol. These elastomers hold properties such as shape retention, resistance to abrasion, tear strength, oxidation resistance, strong adhesive and high load-bearing capacity. Polycarbonate diols are the major premier polyols used in polyurethanes. Silicone or polysiloxane is a class of polymers that are widely used in elastomers owing to their properties.

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Key takeaways:

This IndustryARC report on the Cast Elastomers market highlights the following areas -

1. The notable growth in industries such as transportation, oil and gas, energy and power and building and construction is driving the growth of the Cast Elastomers Market.

2. Hot cast elastomers play an important role in several applications such as battery covers, printing rollers and concrete mold which is expected to provide a significant growth opportunity to increase the Cast Elastomers Market size in coming years.

3. Increase in production and demand for automobiles is expected to provide substantial growth opportunities for the industry players in near future in the Cast Elastomers industry.

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Segmental Analysis:

1. Cast Elastomers Market Segment Analysis – by Product : The hot cast elastomers segment held the largest Cast Elastomers Market share in 2021, with a share of over 67%. Polyurethane elastomers are produced in a variety of hardness and usually possess good chemical, solvent and abrasion resistance. Cast elastomers with superior quality are based on polyether prepolymers or isocyanate-terminated polyester. Polycarbonate diols are the major premier polyols used in polyurethanes. Hot elastomers are utilized in a range of applications mainly in the marine industry for pipe linings, idler rollers, mineral processing as separating screens and application in flotation processes.

2. Cast Elastomers Market Segment Analysis – by End-use Industry : The transportation segment is expected to grow at the fastest CAGR of 9.2% during the forecast period in the Cast Elastomers Market. Cast elastomers are used in an extensive range of end-use industries owing to their properties such as flexibility, durability, toughness and viscoelasticity. They possess benefits such as high tensile strength, strong adhesiveness, superior electric insulating properties, resistance to chemicals and oxidation resistance. In the transportation industry, cast elastomers are widely used for wheels, tires, rollers and powertrains.

3. Cast Elastomers Market Segment Analysis – by Geography : Asia-Pacific held the largest Cast Elastomers Market share in 2021, with a share of 36%. This growth is mainly attributed to the robust presence of several industries such as automotive and transportation, oil and gas, building and construction, chemical and petrochemical and food and beverages in this region.

Competitive landscape:

The top 5 players in the Cast Elastomers industry are:

1. BASF SE
2. Huntsman Corporation
3. Era Polymers Pty. Ltd.
4. Covestro AG
5. Lanxess AG

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