Report Scope & Overview:
Cast Elastomer Market Size was valued at USD 1.47 billion in 2022, and is expected to reach USD 2.20 billion by 2030, and grow at a CAGR of 5.2% over the forecast period 2023-2030.
Cast elastomers are engineered elastomers that are used a lot in the automotive and oil & gas industries because they are flexible, resistant, and wear-resistant. In the past five years, a lot of work has gone into making cast elastomers work well in light-weight vehicles.
Increasing demand from industries with high end-use value
Rapid urbanisation and industrialization
Changes in the prices of raw materials will slow down the market.
Effects that are bad for the environment and people's health
Changing countries will offer lucrative chances to grow the market.
Continuous technological developments.
The bad effects of cast elastomers will be a big problem.
Fluctuating raw material prices.
Impact of Covid-19:
COVID-19 has put the industrial and manufacturing sectors around the world into a new way of working that nobody knows about. Government rules about how many people can be in one place at once have had a big effect on the sectors. For example, the virus is having a big effect on the sector that makes parts. During the lockdown, factories and production lines in the auto, electronics, and aerospace industries were temporarily shut down. China is the main source of raw materials for most industries. Because of this, disruptions in the supply chain have also had a big effect on industrial output. Because of the pandemic, the world economy had shrunk. As long as the pandemic lasts, COVID-19 will keep having an effect on all industries. The growth of the industrial sector is being slowed down by things like lost investments, a lack of cash, a lack of workers, problems in the supply chain, and the overall uncertainty of the global economy. In the last few months, a lot of countries, like India, China, and the US, have opened their economies. As a result, industrial activities have started up again, but there aren't as many workers or materials as there used to be. As most economies have started to open up, industrial output is expected to rise again. COVID-19 has also hurt the sales volume of manufacturers of cast elastomers in the first and second quarters of 2020. Major market players are reducing the risk by putting more emphasis on local management and looking for untapped market opportunities.
Mitsui Chemicals, BASF SE, LANXESS AG, ERA polymer, Covestro AG, Huntsman International, The Dow Chemical Company, Chemline, Wanhua Chemicals, Accella Corporation, and other players.
Hot cast elastomer
Cold cast elastomer
By End-use Industry:
Automotive & Transportation
Oil & gas
The cast elastomers market can be divided by region into Europe, Latin America, Asia Pacific, North America, and the Middle East and Africa.
Asia-Pacific is expected to be the most valuable part of the global market for cast elastomers in the near future. The growth of the cast elastomers market in the region is driven by the rise in demand for cast elastomers in different end-use industries, the speed of industrialization, the improvement of economic conditions, government policies that help the market, and the availability of cheap labour and natural resources. End-use industries are growing because more people are living longer and making more money, and because people's lifestyles are changing.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 1.47 Billion|
|Market Size by 2030||US$ 2.20 Billion|
|CAGR||CAGR of 5.2% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Hot cast elastomer, Cold cast elastomer)
• By End-use Industry (Industrial, Automotive & Transportation, Oil & gas, Mining, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Mitsui Chemicals, BASF SE, LANXESS AG, ERA polymer, Covestro AG, Huntsman International, The Dow Chemical Company, Chemline, Wanhua Chemicals, Accella Corporation, and other players.|
|DRIVERS||• Increasing demand from industries with high end-use value
• Rapid urbanisation and industrialization
|Restraints||• Changes in the prices of raw materials will slow down the market.
• Effects that are bad for the environment and people's health
Frequently Asked Questions (FAQ) :
Ans: Key stakeholders considered in the study:
Raw material vendors
regulatory authorities, including government agencies and NGO
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
end-use industries are the stake holder of this report
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: COVID-19 has put the industrial and manufacturing sectors around the world into a new way of working that nobody knows about. Government rules about how many people can be in one place at once have had a big effect on the sectors. For example, the virus is having a big effect on the sector that makes parts. During the lockdown, factories and production lines in the auto, electronics, and aerospace industries were temporarily shut down. China is the main source of raw materials for most industries. Because of this, disruptions in the supply chain have also had a big effect on industrial output. Because of the pandemic, the world economy had shrunk. As long as the pandemic lasts, COVID-19 will keep having an effect on all industries. The growth of the industrial sector is being slowed down by things like lost investments, a lack of cash, a lack ofworkers, problems in the supply chain, and the overall uncertainty of the globaleconomy.
Ans: Increasing demand from industries with high end-use value and Rapid urbanisation and industrialization are the drivers for Cast Elastomer Market.
Ans: Cast Elastomer Market Size was valued at USD 1.4 billion in 2021, and expected to reach USD 2.10 billion by 2028, and grow at a CAGR of 5.2 % over the forecast period 2022-2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Cast Elastomer Market Segment, By Type
8.1 Hot cast elastomer
8.2 Cold cast elastomer
9.Cast Elastomer Market Segment, By End-use Industry
9.2 Automotive & Transportation
9.3 Oil & gas
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profile
11.1 Mitsui Chemicals
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 BASF SE
11.3 LANXESS AG
11.4 ERA polymer
11.5 Covestro AG
11.6 Huntsman International
11.7 The Dow Chemical Company
11.9 Wanhua Chemicals
11.10 Accella Corporation
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
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