- In July 2023, the global cast elastomer market was valued at USD 1.4 billion and is projected to reach USD 1.8 billion by 2028, growing at a 5.0% CAGR. This growth is driven by increasing demand from industries such as mining, automotive, and oil & gas, where cast elastomers are valued for their high load-bearing capacity, abrasion resistance, and versatility in molding complex shapes
- In April 2025, the global cast elastomer market is experiencing a significant shift towards sustainability, with bio-based elastomers emerging as a key trend. These materials, derived from renewable sources, offer reduced volatile organic compound (VOC) emissions compared to traditional petroleum-based elastomers, aligning with the growing demand for environmentally friendly alternatives
- In March 2025, Huntsman collaborated with RÄDER-VOGEL to develop a new generation of anti-static wheels using Huntsman's TECNOTHANE® hot cast elastomers. These polyurethane-based PEVOTEC® wheels are designed for industrial applications where trolleys, carts, pulleys, and automated guided vehicles (AGVs) are essential
- In August 2023, Covestro inaugurated a new elastomer plant in Shanghai, China, as part of its strategy to enhance its presence in the Asia-Pacific region. This facility is designed to meet the growing demand for high-performance polyurethane elastomers, particularly in renewable energy applications such as offshore wind energy and photovoltaic panel manufacturing
