Global Cast Elastomers Market is expected to register a steady CAGR of 4.37% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the increasing developments undergoing in the market, as well as the rise in demand for industrial and automotive components that utilize cast elastomers.
The Cast elastomers report helps you achieve your dream of an outshining and winning business. Cast elastomers report also makes some important proposals for a new project of Cast elastomers market before evaluating its feasibility. The report provides with CAGR value fluctuation during the forecast period of 2018-2025 for the market. Cast elastomers market report also delivers list of the leading competitors and provides the insights about strategic industry analysis of the key factors influencing the industry. This market report also helps to provide statistics on the current state of the industry as a valuable source of guidance and direction for companies and investors interested in this market.
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Market Definition: Global Cast Elastomers Market
Cast elastomers are rubber-like materials that have significant amounts of elasticity and can return to their original shape and structure on pressure/force release. They are stretchable materials that are based on polyethers, polyesters or both. Due to their thermosetting characteristics, they possess abrasion resistance, tear resistance, high levels of strength and can enhance the features of products they are utilized in.
High levels of demand for the product from various end-use industries; this factor is expected to positively affect the growth of the market
Benefits associated with the usage of these products due to their superior mechanical and chemical properties; this factor is expected to drive the market growth
Rise in the levels of industrialization and urbanization leading to establishment of several manufacturing units; this factor is expected to drive the growth of the market
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Presence of strict regulations amid significant environmental impact during the manufacturing and production of these products are factors restraining the growth of the market
Vulnerable nature of prices associated with raw materials utilized in the production of these products are factors restraining the growth of the market
Segmentation: Global Cast Elastomers Market
By End-Use Industry
Automotive & Transportation
Oil & Gas
Sports & Leisure
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Key Developments in the Market:
In March 2019, Polytek Development Corp. announced the acquisition of BCC Products, Inc. which is a supplier of tools, molds, and casting polymers utilized in automotive, aerospace, foundry and marine industries. This acquisition will enhance the capabilities of Polytek for providing molds and casting solutions.
In October 2016, Manali Petrochemical announced that they had acquired Notdeome Ltd. for approximately USD 18 million, which will help in expansion of technologies, production capabilities and expand the geographical presence for servicing their customers from automotive, appliances, home furnishing, paints & coatings, and pharmaceutical industries.
Competitive Analysis: Global Cast Elastomers Market
Global cast elastomers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cast elastomers market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Market Competitors: Global Cast Elastomers Market
Few of the major competitors currently working in the global cast elastomers market are BASF SE; Covestro AG; Dow; Huntsman International LLC; Era Polymers Pty Limited; Tosoh Corporation; Mitsui Chemicals, Inc.; LANXESS; Coim Group; Wanhua Chemical Group Co.,Ltd.; Manali Petrochemical; Polytek Development Corp.; Grupo Synthesia; SAPICI S.p.A.; Makro Chemical; TAIWAN PU CORPORATION; VCM Polyurethanes Pvt. Ltd.; Accella Polyurethane Systems; Polycoat Products; Chemline; Everchem Specialty Chemicals; Perstorp; Herikon BV; LUC Group; Nordmann, Rassmann GmbH and Chemix.
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