Global Cast Elastomer Market Thrives, Projected to Reach $1.91 Billion by 2027

Cast Elastomer Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

Cast Elastomer Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company's Cast Elastomer Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The market size of the cast elastomer is expected to grow to $1.91 billion in 2027 at a CAGR of 6.2%.”
— The Business Research Company

LANDON, GREATER LANDON, UK, November 23, 2023 / -- The global cast elastomer market demonstrated robust growth, escalating from $1.4 billion in 2022 to $1.5 billion in 2023, marking a commendable Compound Annual Growth Rate (CAGR) of 7.5%. Projections indicate sustained expansion, with the market size expected to reach $1.91 billion by 2027, maintaining a steady CAGR of 6.2%.

Rising Demand in End-Use Industries Drives Market Growth

The upswing in demand for cast elastomers across various end-use industries stands as a pivotal driver propelling the market forward. These versatile materials find application in industrial sectors for seals, gaskets, forklift wheels, coupling elements, conveyor belts, and more. Their utilization spans across construction, heavy industry, paper, and other sectors. In 2020, Pacific Urethanes, an Australia-based company, introduced UrePacSpraycast elastomers, operated through a dual-component spray machine. With high elasticity, chemical resistance, and tensile strength, UrePacSpraycast elastomers serve as protective linings for utility vehicles, truck bed linings, and architectural moldings. The increasing demand for cast elastomers across diverse industries acts as a significant driver for market growth.

Explore comprehensive insights into the global cast elastomer market with our detailed sample report:

Major Players Shaping the Market Landscape

Key players influencing the cast elastomer market include Argonics, BASF, Chemline Incorporation, Coim Group, Covestro, DuPont, Era Polymers Pty Ltd., Huntsman International LLC, Lanxess AG, Mitsui Chemicals Inc., Notedome Limited, Synthesia Technology, The Dow Chemical Company, Tosoh Corporation, and Carlisle Polyurethane Systems.

Bio-Based Raw Materials Transform the Market

The increasing use of bio-based raw materials in cast elastomers emerges as a transformative trend in the market. Companies within the sector are actively developing bio-based products to aid industry stakeholders in minimizing their environmental impact and carbon footprint. In August 2020, Lanxess, a Germany-based specialty chemicals company, introduced Adiprene Green, a new line of MDI polyether prepolymers made from renewables and bio-based raw materials. These products, used to create highly durable polyurethane (PU) elastomers, offer an environmentally friendly alternative to conventional fossil-based prepolymers, contributing to lower CO2 footprints in product manufacturing.

Regional Dynamics and Market Segmentation

North America held the largest share in the cast elastomer market in 2022, with Asia-Pacific anticipated to be the fastest-growing region in the forecast period. The market analysis report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The global cast elastomer market 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

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Cast Elastomer Global Market Report 2023 from TBRC covers the following information:

1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Cast Elastomer Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on cast elastomer market size, cast elastomer market drivers and trends, cast elastomer market major players, cast elastomer market competitors' revenues, market positioning, and cast elastomer market growth across geographies. The cast elastomer market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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