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Cast Elastomer Market Key Segments, Trends, Growth And Outlook 2033
Cast Elastomer Market Key Segments
As per the report, the cast elastomer market size has grown strongly in recent years. It will grow from $1.48 billion in 2023 to $1.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The cast elastomer market size is expected to see strong growth in the next few years. It will grow to $2.08 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
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Increasing Demand From Various End Users
The rise in demand for cast elastomers in various end-use industries is expected to propel the growth of the cast elastomer market in the coming years. 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. For instance, Pacific Urethanes, an Australia-based company that specializes in the development and production of polyurethane systems developed UrePacSpraycast elastomers, which are operated through a dual-component spray machine. UrePacSpraycast elastomers have high elasticity, chemical resistance, and tensile strength. These are generally used as protective linings for utility vehicles, truck bed linings, and architectural moldings. Therefore, the rise in demand for cast elastomers in various end-use industries is driving the cast elastomers market growth.
Innovation In Bio Based Elastomer
The increasing use of bio-based raw materials in cast elastomers is shaping the cast elastomer market. 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 example, in 2021, Koninklijke DSM N.V, The Netherland-based chemical company, launched mass-balanced bio-based Arnitel, a thermoplastic elastomer. This bio-based Arnitel is manufactured using a mass-balance approach, where bio-based feedstock is used in the production process. The end product contains more than 25% bio-based content by weight.
The cast elastomer market covered in this report 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
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Major companies operating in the cast elastomer market include Argonics Inc., BASF SE, Chemline Incorporation, Coim Group, Covestro AG, Du Pont De Nemours and Company, Era Polymers Pty Ltd., Huntsman International LLC, Lanxess AG, Mitsui Chemicals Inc., Notedome Limited, Synthesia Technology, Dow Chemical Company, Tosoh Corporation, Carlisle Polyurethane Systems, Wacker Chemie AG, Momentive Performance Materials Inc., Cast Urethane, Wanhua Chemical Group Co. Ltd., Polyurethane Products Corporation, Huntsman Corporation, Notedome Ltd., Trelleborg AB, RTP Company, PolyOne Corporation, Hexpol AB, Permali Gloucester Limited, Rubberlite Inc., Sanchem Inc.
Contents of the report:
1. Executive Summary
2. Cast Elastomer Market Report Structure
3. Cast Elastomer Market Trends And Strategies
4. Cast Elastomer Market - Macro Economic Scenario
5. Cast Elastomer Market Size And Growth
…..
27. Cast Elastomer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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