Cast
Elastomers Market Update, Analysis, Forecast, 2019 – 2025

Global Market Insights, Inc present the report on global cast elastomers market evaluates the growth trends of the
industry through historical study and estimates future prospects based on
comprehensive research. The report extensively provides the market share,
growth, trends and forecasts for the period 2019-2025.

Cast elastomers market size will likely
propel at an increasing rate due to increasing demand in the oil & gas
sector. These are elastic materials which can be stretched to a certain extend
and it returns to its original shape after the force is removed. The product is
widely used in the oil & gas sector to manufacture pipeline cleaning &
inspection pigs, pipeline bend restrictors, pipe thread protectors, fluid
separation pigs, etc. Its clarity, abrasion and oil resistant features make it
ideal for these applications. The global demand for crude oil has increased
from 84.3 million barrels in 2009 to almost 100 million barrels in 2018. Such
continuous rise in demand for hydrocarbon fuels to meet energy requirements
would be a significant factor fueling the demand for cast elastomers over the
coming years.

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Cast elastomers is increasingly used in
the automobile industry owing to its excellent performances and durability.
They are widely used in motor and transmission mounts, air filters, after
market suspension parts, damper springs, tires & wheels, dunnage, rollers,
bed liners, etc. Total motor vehicles produced in 2018 was around 95 million
which has increased from 77 million in 2010.

Increasing global automobile production
will lead to development in the cast elastomers market. Rising trend toward
production of light weight vehicles would be another driver for cast elastomer
market. Rapid industrial growth in the Asia countries will propel cast
elastomers market size as the product is extensively used in various industries
including oil & gas, energy, metal forming, marine, manufacturing &
material handling, etc. The region has witnessed robust industrial development
in the last two decades with the region accounting for approximately 40% of the
world output. Automotive, construction, manufacturing, and mining activities
have witnessed a sharp growth in the last decade. Hence, this would further
increase the demand for cast elastomers in the coming years.

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The cast elastomers market is categorized
based on type, application and region. The two types are cold and hot cast. Hot
elastomers would gain momentum in the coming years due to its properties like
load bearing capacity, resilience, impact resistance, highly elastic etc. These
properties make it suitable to be used in various industries like construction,
medical, oil & gas, transportation, etc. Cold cast elastomers are processed
& cured at room temperature and can be foamed at various molding densities.
This type is easy to handle but do not possess superior features as compared to
the former one.

Based on application, the cast elastomers
market size is segregated into industrial, automotive and transportation,
medical, oil and gas, mining, etc. The product is extensively used in the
agriculture sector to manufacture wear pads, cab mounts, dampeners, protective
sheeting, shock mounts, etc. They are also used 3D printing industry to
manufacture 3D printing parts & tools, cutter bars, metal decorating
rollers, printing rollers, etc. The sales related to 3D printing by major
companies is likely to surpass USD 3 billion by 2020. Such rising trend will in
turn increase the demand for 3D printing equipment’s which will in turn increase
the demand for cast elastomers in the coming years. This will lead to
significant growth in industrial segment.

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The five main regions are North America,
Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific
is likely to portray a significant growth in the coming years due to rising
demand from the region. Rapid economic development and expanding customer base
have led to this rise in demand. Increasing production of automotive in this
region will also spur the demand in the coming years. U.S. occupied the largest
share in the North America region due to its growing oil & gas and
automotive industries. Presence of major players in this region will be another
growth driver for North America cast elastomers market.

Some of the major participants in the cast
elastomers market share are LANXESS, Huntsman Corporation, BASF SE, Covestro
AG, etc.

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