Cast Elastomer Market Size Worth $2,195.13 Million By 2032 | CAGR: 5.2%
The global cast elastomer market size is expected to reach USD 2,195.13 million by 2032, according to a new study by Polaris Market Research. The report “Cast Elastomer Market Share, Size, Trends, Industry Analysis Report, By Technology (Hot Cast Elastomer, Cold Cast Elastomer); By Application; By Industry Vertical; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Elastomers are rubber-like polymers that stretch far more than springs that snap back into their shape upon force release. Elastomers resist motion much like a damper or dashpot when deformed by outside forces, resisting flow like a viscous liquid. Cast polyurethane elastomers are useful for a variety of uses due to their special characteristics. These consist of mechanical and industrial components as well as uses for mining, oil and gas, printing, material handling, and a wide range of other industries.
The rising research and development activities, along with the new product innovations, are fueling its expansion in the coming years. For instance, Liqcreate introduced Elastomer-X, which is suitable for making elastic parts & soft digital lattice systems. These innovations are providing a wider scope for further research activities in the cast elastomer field in the coming future.
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The rising construction activities in developing countries like India are fueling the need for construction components, including pipe linings, conveyor components, and more, facilitating a need for cast elastomers due to their ability to withstand harsh environments. According to Invest India, by 2025, the Indian construction industry is expected to reach UD 1.4 Tn. In India, urbanization will rise to over 40% of the total population by 2030; there will be demand for 25 Mn extra mid-range & in-expensive housing units. The growing population is witnessing rapid demand for housing, driving the production of residential homes in a way that will contribute to the expansion of the cast elastomer market in the coming years.
Cast Elastomer Market Report Highlights
- The hot cast segment is anticipated to witness the highest growth in the coming years due to its higher performance and durability.
- The pipe linings segment accounted for the largest market share owing to the need for corrosion resistance in various industries.
- The oil and gas segment is projected to experience a larger revenue share due to the harsh operating conditions.
- APAC is projected to register the largest growth rate in the study period owing to the growing automotive industry.
- Europe is expected to have the fastest growth owing to the expanding demand for renewable energy sources, driving power panel production and, in a way, demand for cast elastomers.
- The global players include Accella Polyurethane Systems, BASF, Coim Group, Covestro, Era Polymers, Everchem Specialty Chemicals, Huntsman Corporation, Synthesia International & Taiwan Pu Corporation.
Polaris Market Research has segmented the cast elastomer market report based on technology, application, industry vertical and region:
Cast Elastomer, Technology Outlook (Revenue - USD Million, 2019 - 2032)
- Hot Cast Elastomer
- Cold Cast Elastomer
Cast Elastomer, Application Outlook (Revenue - USD Million, 2019 - 2032)
- Separating Screens
- Pipe Linings
- Conveyor Scrapers
- Idler Rolls
- Others
Cast Elastomer, Industry Vertical Outlook (Revenue - USD Million, 2019 - 2032)
- Chemical & Petrochemical
- Oil & Gas
- Energy & Power
- Automotive
- Food & Beverage
- Healthcare
- Others
Cast Elastomer, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Cast Elastomer Market Report Scope
|
Report Attributes |
Details |
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Market size value in 2023 |
USD 1388.90 million |
|
Revenue forecast in 2032 |
USD 2195.13 million |
|
CAGR |
5.2% from 2023 – 2032 |
|
Base year |
2022 |
|
Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
|
Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
|
Segments covered |
By Technology, By Application, By Industry Vertical, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
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For Specific Research Requirements |
