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Cast Elastomer Market Report Scope & Overview:

The 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.

Cast Elastomer Market Revenue Analysis

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Market Dynamics:

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

Opportunity:

  • Changing countries will offer lucrative chances to grow the market.

  • Continuous technological developments.

Challenge:

  • 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.

Market Segment:

By Type:

  • Hot cast elastomer

  • Cold cast elastomer

By End-use Industry:

  • Industrial

  • Automotive & Transportation

  • Oil & gas

  • Mining

  • Others

Cast Elastomer Market Segmentation Analysis

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Regional Analysis:

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.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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

Key Players:

Mitsui Chemicals, BASF SE, LANXESS AG, ERA polymer, Covestro AG, Huntsman International, The Dow Chemical Company, Chemline, Wanhua Chemicals, Accella Corporation, and other players.

Mitsui Chemicals-Company Financial Analysis

Cast Elastomer Market Report Scope:
Report Attributes Details
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
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
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

Ans: Key stakeholders considered in the study:
Raw material vendors
distributors/traders/wholesalers/suppliers
regulatory authorities, including government agencies and NGO
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
trade/industrial associations
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. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 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

9.1 Industrial

9.2 Automotive & Transportation

9.3 Oil & gas

9.4 Mining

9.5 Others

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

11. Company Profile

11.1 Mitsui Chemicals

11.1.1 Financial

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

11.8 Chemline

11.9 Wanhua Chemicals

11.10 Accella Corporation

12.Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

13. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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