Cast Elastomers Market Size | Industry Demand, Trends, Share, Growth, Forecast,
Posted by Rishab Gupta on February 20th, 2020
Cast Elastomers Market Overview:
Cast elastomers are tough, elastic materials with high load bearing capacity and resistance to wear, abrasion, chemicals, and low temperatures. They are produced using isocyanate prepolymer and polyol blends containing fillers, processing additives, catalysts, and other modifiers. The most widely used elastomer for the processing of cast elastomers is polyurethane.
The leading players in the global cast elastomers market are Huntsman International LLC (US), Covestro AG (Germany), BASF SE (Germany), Era Polymers Pty Ltd (Australia), Chemline Inc. (US), Lanxess (Germany), COPCI SAS (Germany), Tosoh Corporation (Japan), Mitsui Chemicals Inc. (Japan), Wanhua Chemical Group Co. Ltd (China), Synthesia Group (Spain), Accella Corporation (US), and Chemix SRL (Italy)
Based on type, the global cast elastomers market has been segmented into hot cast and cold cast elastomers. The hot cast elastomers segment is projected to lead the market during the forecast period owing to its superior chemical and abrasion resistance, high load bearing capability, and resistance to oil, solvents, cuts, hydrolysis, tear, and fatigue. Liners, wheels and tires, rollers, mining screens, conveyor belts, engineering parts, inline skate wheels, and golf balls, among others, are the major applications of hot cast elastomers. Market growth is driven by the increasing demand for hot cast elastomers in industrial applications.
The increasing demand for cast elastomers in industrial applications is expected to drive market growth during the review period. The demand for cast elastomers can be attributed to their ability to withstand exposure to chemicals, cutting, tearing, impact, and various damaging forces. Polyurethane cast elastomers are used in applications such as industrial bearings and bushings, belt scrapers, roller coating, casing components, container linings, and heavy load rollers.
In addition, cast elastomers are applicable in the automotive industry for manufacturing damping elements such as bumpers, auxiliary springs, and noise, vibration, and harshness (NVH) elements. Furthermore, they find application in the mining industry in separating screens, pipe linings, conveyor scrapers, and idler rolls, which is likely to fuel market growth in the coming years. However, fluctuations in raw material prices may hinder the growth of the market during the assessment period.
Based on application, the global cast elastomers market has been categorized as automotive, industrial, mining, agricultural, oil & gas, sports and leisure, and others. The industrial segment is expected to account for the largest share of the global cast elastomers market during the assessment period. The use of cast elastomers in industrial bearings and bushings, belt scrapers, roller coatings, casing components, container linings, industrial tires, and heavy load rollers is likely to boost product demand in the years to follow.
Cast Elastomers Market Size has been segmented into five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. In 2017, Asia-Pacific accounted for the largest share of the global cast elastomers market due to the large-scale consumption in the steel and automotive industries. The expanding population and rapid industrialization are expected to be the key factors powering product demand in this region.
The US is projected to be the leading market for cast elastomers in North America owing to a large number of automotive production plants and the growing use of the product in mining equipment.
The increased product demand in the manufacturing of automotive parts and industrial components such as industrial bearings and bushings, belt scrapers, roller coating, and casing components is expected to drive the growth of the European market.
The markets in Latin America and the Middle East & Africa are expected to exhibit substantial growth due to the significant growth of end-use industries such as oil & gas and mining.
The global cast elastomers market has been classified on the basis of type, application, and region.
Hot cast and cold cast elastomers are the type segments of the global cast elastomers market.
By application, the global cast elastomers market has been segmented into automotive, industrial, mining, agricultural, oil & gas, sports and leisure, and others.
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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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