Dublin, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The "Global Cast Elastomer Market by Type (Hot Cast Elastomer, Cold Cast elastomer), End-use industry (Oil & Gas, Industrial, Automotive & Transportation, Mining), & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The cast elastomer market is USD 1.4 billion for the year 2023 and is projected to reach USD 1.8 billion in 2028 at a CAGR of 5.0% during the forecast period. Cast elastomers offer durability, excellent performance in harsh conditions, and resistance to chemicals and abrasion. They contribute to cost savings through extended equipment lifespan and reduced maintenance and replacement costs. Their customization capabilities and engineering properties make them suitable for diverse industrial requirements. Cast elastomers provide equipment protection, improve safety, and offer vibration dampening properties
Cast elastomers find various applications in the automotive and transportation industry due to their unique properties and performance characteristics.
Cast elastomers are used in the manufacturing of suspension components such as bushings, mounts, and shock absorber seals. They provide excellent vibration dampening, impact resistance, and durability, contributing to improved ride comfort and vehicle handling. Cast elastomers are utilized for sealing applications in the automotive industry. They provide effective sealing solutions for engine components, including valve covers, oil pans, and timing covers. Cast elastomer gaskets offer superior resistance to oils, fuels, and other fluids, ensuring reliable and leak-free performance. Cast elastomers are employed in body seals and weather strips to ensure proper sealing between vehicle body panels, doors, windows, and other openings. They offer flexibility, weather resistance, and sealing properties, preventing water, dust, and noise intrusion into the vehicle cabin. Cast elastomers are employed in automotive seating systems to enhance comfort and durability. They provide cushioning, impact resistance, and flexibility, ensuring comfortable seating for occupants.
Hot cast elastomer is expected to be the fastest growing type for cast elastomer in the market during the forecast period, in terms of value.
Hot cast elastomers offer a high level of customization and versatility in terms of their properties, hardness, and performance characteristics. Manufacturers can tailor hot cast elastomers to meet specific application requirements, allowing for a wide range of potential uses in various industries. Hot cast elastomers often exhibit improved physical properties compared to other types of elastomers. They can have higher tear resistance, tensile strength, and elongation, making them suitable for demanding applications where durability and performance are crucial.. The hot casting process for elastomers allows for efficient and cost-effective production. It enables the molding of complex shapes and the creation of large parts, reducing the need for assembly or joining multiple pieces. This efficiency in processing can contribute to the growth and adoption of hot cast elastomers. Hot cast elastomers may have experienced growth due to increased demand in specific industries. For example, industries such as oil and gas, mining, and construction often require elastomers that can withstand harsh environments and provide excellent abrasion resistance. Hot cast elastomers' properties make them suitable for these demanding applications, leading to increased usage and market growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 178 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.4 Billion |
| Forecasted Market Value (USD) by 2028 | $1.8 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Hot Cast Elastomers by Type to Dominate Cast Elastomer Market Throughout Forecast Period (USD Million)
- Industrial Sector by End-Use Industry to Dominate Cast Elastomer Market Throughout Forecast Period (USD Million)
- Asia-Pacific Dominated Cast Elastomer Market in 2023
Premium Insights
- Significant Opportunities in Cast Elastomer Market -Increasing Demand from End-Use Industry Driving Demand for Cast Elastomer
- Cast Elastomer Market, by Region - Asia-Pacific Accounted for Largest Share of Cast Elastomer Market in 2023
- Cast Elastomer Market, by Type - Hot Cast Elastomer to Account for Fastest Growing Type Throughout Forecast Period
- Cast Elastomer Market, by End-Use Industry - Automotive & Transportation to Account for Fastest Growing End-Use Industry Throughout Forecast Period.
Market Dynamics
Drivers
- Increasing Demand for High-Value End-Use Industries
- Superior Advantage Over Conventional Material
- Increasing Manufacturing Activities in Emerging Economies
Restraints
- Hazardous Impact on Environment and Human Health
Opportunities
- Continuous Technological Advancements
Challenges
- Compliance with Stringent Regulations and Standards
- Fluctuating Raw Material Prices
Company Profiles
- BASF
- Dow
- Huntsman Corporation
- Covestro AG
- LANXESS
- Era Polymers
- Mitsui Chemicals, Inc.
- Notedome Ltd.
- Tosoh Corporation
- Wanhua Chemical Group Co., Ltd.
- Alchimica S.A.
- Carlisle Polyurethane Systems
- Chemline, Inc.
- COIM Group
- Herikon B.V.
- Jayantilal J. Gandhi Chemicals Pvt. Ltd.
- LUC Group
- Polycoat Products
- RECKLI
- Sapici S.P.A.
- Sika Advanced Resins
- Synthesia Technology Group
- Taiwan PU Corporation
- TSE Industries
- VCM Polyurethanes
For more information about this report visit https://www.researchandmarkets.com/r/8ttlzp
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