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Cast Elastomer Market Share, Size, Trends, Industry Analysis Report And Forecast To 2032
Cast Elastomer Market Analysis
The Business Research Company's Cast Elastomer Global Market Report 2023 identifies rise in demand for cast elastomers in various end-use industries as the major driver for the cast elastomer market's growth in the forecast period. Cast elastomers are utilized in a variety of applications in the industrial sector, including seals and gaskets, forklift wheels, coupling elements, conveyor belts, and more. These materials are then employed in a variety of sectors, including construction, heavy industry, paper, and so on.
The global cast elastomer market size grew from $1.4 billion in 2022 to $1.5 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the cast elastomer is expected to grow to $1.91 billion in 2027 at a CAGR of 6.2%.
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Major competitors in the cast elastomer market are Argonics, BASF, Chemline Incorporation, Coim Group, Covestro, DuPont, Era Polymers Pty Ltd., Huntsman International LLC, Lanxess AG.
A key trend in the cast elastomer market includes increasing use of bio-based raw materials in cast elastomers. Companies in the cast elastomers sector are stepping up initiatives to develop bio-based products that will assist industry stakeholders in reducing their environmental impact and carbon footprint. For instance, in August 2020, Lanxess, a Germany-based specialty chemicals company, developed a new line of MDI polyether prepolymers called Adiprene Green which is made from renewables and bio-based raw materials. The products can be used to make highly durable polyurethane (PU) elastomers in place of conventional fossil-based polyether prepolymers. The overall goal of Adiprene Green's development was to establish a line of bio-based prepolymers that would allow PU processors to generate products with a lower CO2 footprint.
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The cast elastomer market is segmented -
1) By Type: Hot Cast Elastomer, Cold Cast Elastomer
2) By Distribution: Online, Offline
3) By End-Use Industry: Mining, Automotive And Transportation, Industrial, Oil And Gas, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the cast elastomer market.
The Business Research Company's "Global Cast Elastomer Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Cast Elastomer Market Include:
1. Executive Summary
2. Cast Elastomer Market Characteristics
3. Cast Elastomer Market Trends And Strategies
4. Cast Elastomer Market - Macro Economic Scenario
5. Cast Elastomer Market Size And Growth
….
26. Africa Cast Elastomer Market
27. Cast Elastomer Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cast Elastomer Market
29. Cast Elastomer Market Future Outlook and Potential Analysis
30. Appendix
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