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Increasing Demand From Various End Users: A Key Catalyst Accelerating Cast Elastomer Market Growth in 2025
Cast Elastomer Market
Cast Elastomer Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent years, the market size for cast elastomer has seen robust growth. The market is projected to expand from $1.57 billion in 2024 to $1.65 billion in 2025, representing a compound annual growth rate (CAGR) of 5.5%. This marked growth during the historic period is the result of several factors including the growth of the automotive industry, a rise in the demand for cast elastomers in the components of industrial machinery, the increasing use of cast elastomers in oil and gas applications, a burgeoning footwear industry, and the growth in consumer electronics.
Cast Elastomer Market Size Forecast: What's the Projected Valuation by 2029?
The market size of cast elastomer is predicted to experience robust growth in the upcoming years, reaching $2.21 billion by 2029 with a compound annual growth rate (CAGR) of 7.6%. The expansion projected within this timeframe can be linked to an increased commitment towards energy efficiency, a rising emphasis on the usage of environmentally-conscious and sustainable elastomeric materials. Furthermore, the expanding utilization of cast elastomers in the aerospace industry, the infusion of funds into research and innovation, and sustained growth in the renewable energy sector could all contribute to this growth. The period of prediction is anticipated to see trends such as personalization and adjustments, automated production processes, advanced research and development strategies, technological advancements, and the amalgamation of cast elastomers into 3D print technology.
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What Are the Drivers Transforming the Cast Elastomer Market?
The expansion of the cast elastomer market is anticipated to be driven by an increasing demand from diverse end-use industries in the future years. Cast elastomers find extensive applications in the industrial sector, such as in the creation of gaskets and seals, forklift tires, elements for coupling, conveyor belts, etc. These components are used across multiple industries like construction, heavy machinery, paper industry, and others. For instance, Pacific Urethanes, an Australian firm known for its expertise in developing and manufacturing polyurethane systems, has created UrePacSpraycast elastomers that are dispensed using a two-component spray machine. Featuring high resilience, chemical resistance, and tensile strength, UrePacSpraycast elastomers are typically used for protective coatings on utility vehicles, truck bed linings, and architectural trims. Hence, the escalating demand for cast elastomers from different end-use sectors steers the growth of the cast elastomers market.
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What Long-Term Trends Will Define the Future of the Cast Elastomer Market?
Leading companies in the cast elastomer market are prioritizing the development of innovative features, such as reduced compression sets for minimal distortion under pressure. The term 'low compression set' pertains to the ability of a substance to resist enduring deformation under continuous compression. To illustrate, Inkbit, an American 3D printing tech firm, in November 2023, debuted TEPU 50A, a state-of-the-art material tailored for 3D printing. This advanced elastomer, featuring Shore 50A durometer hardness and exceptional UV stability, chemical aptitude, and a low compression set, has been launched. The material is perfect for elaborate, flexible parts such as grommets, seals, and soft grippers. It offers exact detailing, outperforming traditional rubber and silicone alternatives. The enhanced technology guarantees superior and consistent 3D printing for rigorous industrial applications.
Which Segments in the Cast Elastomer Market Offer the Most Profit Potential?
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
Subsegments:
1) By Hot Cast Elastomer: Polyurethane Hot Cast Elastomers, Silicone Hot Cast Elastomers
2) By Cold Cast Elastomer: Polyurethane Cold Cast Elastomers, Silicone Cold Cast Elastomers
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Which Firms Dominate the Cast Elastomer Market by Market Share and Revenue in 2025?
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, Trelleborg AB, RTP Company, PolyOne Corporation, Hexpol AB, Permali Gloucester Limited, Rubberlite Inc., Sanchem Inc.
Which Regions Offer the Highest Growth Potential in the Cast Elastomer Market?
North America was the largest region in the cast elastomer market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cast elastomer market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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