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Cast Elastomers Market Share, by Application, 2019

Global Cast Elastomers Market: Information by Type (Hot Cast and Cold Cast), Application (Automotive, Industrial, Mining, Oil & Gas, Sports & Leisure, Agricultural, and Others), and Region (Asia-Pacific, North America, and Europe)—Forecast till 2023

Competitive Analysis:

The leading players in the global cast elastomers market are Huntsman International LLC (US), Covestro AG (Germany), BASF SE (Germany), Era Polymers Pty Ltd (Australia), Chemline Inc. (US), Lanxess (Germany), COPCI SAS (Germany), Tosoh Corporation (Japan), Mitsui Chemicals Inc. (Japan), Wanhua Chemical Group Co. Ltd (China), Synthesia Group (Spain), Accella Corporation (US), and Chemix SRL (Italy).

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Market Overview:

Cast elastomers are tough, elastic materials with high load bearing capacity and resistance to wear, abrasion, chemicals, and low temperatures. They are produced using isocyanate prepolymer and polyol blends containing fillers, processing additives, catalysts, and other modifiers. The most widely used elastomer for the processing of cast elastomers is polyurethane.

Based on type, the global cast elastomers market has been segmented into hot cast and cold cast elastomers. The hot cast elastomers segment is projected to lead the market during the forecast period owing to its superior chemical and abrasion resistance, high load bearing capability, and resistance to oil, solvents, cuts, hydrolysis, tear, and fatigue. Liners, wheels and tires, rollers, mining screens, conveyor belts, engineering parts, inline skate wheels, and golf balls, among others, are the major applications of hot cast elastomers. Market growth is driven by the increasing demand for hot cast elastomers in industrial applications.

Based on application, the global cast elastomers market has been categorized as automotive, industrial, mining, agricultural, oil & gas, sports and leisure, and others. The industrial segment is expected to account for the largest share of the global cast elastomers market during the assessment period. The use of cast elastomers in industrial bearings and bushings, belt scrapers, roller coatings, casing components, container linings, industrial tires, and heavy load rollers is likely to boost product demand in the years to follow.

Market Segmentation:

The global cast elastomers market has been classified on the basis of type, application, and region.

Hot cast and cold cast elastomers are the type segments of the global cast elastomers market.

By application, the global cast elastomers market has been segmented into automotive, industrial, mining, agricultural, oil & gas, sports and leisure, and others.

The increasing demand for cast elastomers in industrial applications is expected to drive market growth during the review period. The demand for cast elastomers can be attributed to their ability to withstand exposure to chemicals, cutting, tearing, impact, and various damaging forces. Polyurethane cast elastomers are used in applications such as industrial bearings and bushings, belt scrapers, roller coating, casing components, container linings, and heavy load rollers.

In addition, cast elastomers are applicable in the automotive industry for manufacturing damping elements such as bumpers, auxiliary springs, and noise, vibration, and harshness (NVH) elements. Furthermore, they find application in the mining industry in separating screens, pipe linings, conveyor scrapers, and idler rolls, which is likely to fuel market growth in the coming years. However, fluctuations in raw material prices may hinder the growth of the market during the assessment period.

Based on application, the global cast elastomers market has been categorized as automotive, industrial, mining, agricultural, oil & gas, sports and leisure, and others. The industrial segment is expected to account for the largest share of the global cast elastomers market during the assessment period. The use of cast elastomers in industrial bearings and bushings, belt scrapers, roller coatings, casing components, container linings, industrial tires, and heavy load rollers is likely to boost product demand in the years to follow.

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Regional Analysis:

Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five key regions studied for the global cast elastomers market. In 2017, Asia-Pacific accounted for the largest share of the global cast elastomers market. This can be attributed to the increasing consumption of cast elastomers in the steel and automotive industries. Rapid industrialization coupled with major companies shifting their production units to the region is positively contributing to the growth of the market. In addition, the increasing demand for the product in the sports and leisure industry is likely to propel market growth.

The other significant regional markets for cast elastomers are North America and Europe. The mature industrial sector and significant consumer base for cast elastomers are expected to be the key factors driving the growth of the regional markets. The US is one of the key contributors to the global market due to the presence of a developed automotive industry and increased use of cast elastomers in inline skate wheels, golf balls, and other sports equipment. 

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