Cast Elastomer Market worth $1.8 billion by 2026 - Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 4, 2021 /PRNewswire/ -- According to the new market research report "Cast Elastomer Market by Type(Hot Cast Elastomer, Cold Cast Elastomer), End-use Industry (Industrial, Automotive & Transportation, Oil & Gas, Mining), and Region (APAC, North America, Europe, South America, Middle East & Africa) - Global Forecast to 2026", published by MarketsandMarkets™, the market size is projected to reach USD 1.8 billion by 2026 from USD 1.4 billion in 2021, at a CAGR of 5.0% during the forecast period. The growing demand for cast elastomer from high-value end-use industries such as automotive & transportation, oil & gas, and mining, as well as rapid industrialization in emerging economies are the major drivers for the market. Superior properties than conventional materials such as high load-bearing capacity, high resilience, high impact strength, high abrasion resistance, and excellent resistance to oil and grease are also driving the market for cast elastomer.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=265916696

Browse in-depth TOC on "Cast Elastomer Market"

118 – Tables
36 – Figures
171 – Pages

View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/cast-elastomer-market-265916696.html

Based on type, hot cast elastomer is estimated to be the largest market in the overall cast elastomer market in 2021.

The hot cast elastomers segment is the largest and is also projected to continue this trend till 2026. The main growth driver of the high consumption of these cast elastomers is owing to their properties such as cost-effectiveness, versatility, and durability. Hot cast elastomers are used in end-use industries such as oil & gas, mining, and automotive & transportation. Increasing demand in these end-use industries such as automotive, oil & gas, and others is expected to support the growth of the hot cast elastomer segment during the forecast period.

Based on end-use industry, industrial is expected to be the largest cast elastomer segment in 2021.

Industrial segment is the largest end-use industry for cast elastomers. The high demand in this segment is attributed to its wide variety of applications in the industrial sector. Increasing number of industries and machinery is assisting in boosting the demand for cast elastomers in this sector. Cast elastomers are used in the industrial sector in a wide range of applications such as coupling elements, seals & gaskets, conveyor belts, forklift wheels, and others. These components are in turn used in various sectors such as paper, construction, heavy industries, and others. Growing demand for energy efficient and environment friendly equipment is also expected to affect the cast elastomers market in a positive manner.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=265916696

Based on region, APAC is projected to grow the fastest in the cast elastomer market during the forecast period.

APAC is the fastest-growing market for cast elastomers. This is primarily attributed to developing economies, such as India, China, Indonesia, Malaysia, Thailand, and others in the region, where demand for industrial machineries and equipments is growing rapidly. Additionally, increase in population and growing urbanization are also driving the market and increasing cast elastomer utilization. In addition, progress in industrialization, increasing demand due to changing demographics, and government initiatives are expected to attract business investments in industries such as power, oil & gas, metal processing, construction, and mining are also driving the market for cast elastomers in the region.

The key players in the cast elastomer market include Covestro AG (Germany), Huntsman Corporation (US), Lanxess  (Germany), Dow (US), BASF (Germany), Tosoh Corporation (Japan), Mitsui Chemicals, Inc. (Japan), and Era Polymers (Australia). These players have established a strong foothold in the market by adopting strategies, such as new product launches, investment & expansions, agreement & collaboration, and mergers & acquisitions.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=265916696

Browse Adjacent Market: Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting

Related Reports:

Industrial PU Elastomer Market by Type (Thermoset PU Elastomer, Thermoplastic PU Elastomer), End-use Industry (Transportation, Industrial, Medical, Building & Construction, Mining Equipment) and Region - Global Forecast to 2026

https://www.marketsandmarkets.com/Market-Reports/polyurethane-elastomers-market-1064.html

Elastomers Market by Type (Thermoset (Natural Rubber, Synthetic Rubber (SBR, IIR, PBR, NBR, ACM, EPM)), and Thermoplastic (PEBA, SBC, TPO, TPU, TPV)), Application (Automotive, Consumer Goods, Medical, and Industrial) - Global Forecast to 2021

https://www.marketsandmarkets.com/Market-Reports/elastomers-market-48929183.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected] 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/cast-elastomer-market.asp 
Visit Our Website: https://www.marketsandmarkets.com/ 
Content Source: https://www.marketsandmarkets.com/PressReleases/cast-elastomer.asp

SOURCE MarketsandMarkets

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED