Global Cast Elastomers Market By Type (Hot Cast, Cold Cast), End-Use Industry (Automotive & Transportation, Industrial, Mining, Oil & Gas, Sports & Leisure, Agriculture, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Cast Elastomers Market
Global cast elastomers market is expected to register a steady CAGR of 4.37% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the increasing developments undergoing in the market, as well as the rise in demand for industrial and automotive components that utilize cast elastomers.
Market Definition: Global Cast Elastomers Market
Cast elastomers are rubber-like materials that have significant amounts of elasticity and can return to their original shape and structure on pressure/force release. They are stretchable materials that are based on polyethers, polyesters or both. Due to their thermosetting characteristics, they possess abrasion resistance, tear resistance, high levels of strength and can enhance the features of products they are utilized in.
- High levels of demand for the product from various end-use industries; this factor is expected to positively affect the growth of the market
- Benefits associated with the usage of these products due to their superior mechanical and chemical properties; this factor is expected to drive the market growth
- Rise in the levels of industrialization and urbanization leading to establishment of several manufacturing units; this factor is expected to drive the growth of the market
- Presence of strict regulations amid significant environmental impact during the manufacturing and production of these products are factors restraining the growth of the market
- Vulnerable nature of prices associated with raw materials utilized in the production of these products are factors restraining the growth of the market
Segmentation: Global Cast Elastomers Market
- Hot Cast
- Cold Cast
By End-Use Industry
- Automotive & Transportation
- Oil & Gas
- Sports & Leisure
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In March 2019, Polytek Development Corp. announced the acquisition of BCC Products, Inc. which is a supplier of tools, molds, and casting polymers utilized in automotive, aerospace, foundry and marine industries. This acquisition will enhance the capabilities of Polytek for providing molds and casting solutions.
- In October 2016, Manali Petrochemical announced that they had acquired Notdeome Ltd. for approximately USD 18 million, which will help in expansion of technologies, production capabilities and expand the geographical presence for servicing their customers from automotive, appliances, home furnishing, paints & coatings, and pharmaceutical industries.
Competitive Analysis: Global Cast Elastomers Market
Global cast elastomers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cast elastomers market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Cast Elastomers Market
Few of the major competitors currently working in the global cast elastomers market are BASF SE; Covestro AG; Dow; Huntsman International LLC; Era Polymers Pty Limited; Tosoh Corporation; Mitsui Chemicals, Inc.; LANXESS; Coim Group; Wanhua Chemical Group Co.,Ltd.; Manali Petrochemical; Polytek Development Corp.; Grupo Synthesia; SAPICI S.p.A.; Makro Chemical; TAIWAN PU CORPORATION; VCM Polyurethanes Pvt. Ltd.; Accella Polyurethane Systems; Polycoat Products; Chemline; Everchem Specialty Chemicals; Perstorp; Herikon BV; LUC Group; Nordmann, Rassmann GmbH and Chemix.
Research Methodology: Global Cast Elastomers Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved