Vancouver, British Columbia, Jan. 25, 2021 (GLOBE NEWSWIRE) -- The global cast elastomers market size was USD 1,310.4 Million in 2019 and is projected to reach USD 1,842.2 Million by 2027, at a CAGR of 4.3% during the forecast period, according to a current analysis by Emergen Research. Cast elastomers are witnessing high demand, due to their growing use in the mining industry. Key applications of cast elastomers in the mining industry include agitators, pipe linings, pump impellers, classification screens, waterproofing, bumper pads, hydrocyclone, wear strips, crossover pads, chute liners, and scrapers for conveyor belts. For instance, bumper pads provide protection to products in service, minimize noise levels, and extend the machine lifespan.
Components and parts produced by using cast elastomers are widely used in agricultural equipment, the oil & gas industry, and material handling. Besides, in the sports & recreation industry, cast elastomers are preferentially used in the production of roller skate wheels, bowling balls, bowling pin setting equipment, golf ball covers, scuba fins, and pitching machines.
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Europe was the second-largest market for cast elastomers in 2019, owing to growth of the manufacturing sector in the region, particularly increase in the production of automotive parts in the region.
Key Highlights of Report
- In September 2019, Lanxess AG developed an innovative MDI-terminated polyester-based prepolymer, which is cured with 1, 4-butanediol to produce hot cast polyurethanes. These elastomers offer benefits such as low compression and high tear resistance.
- Cold cast elastomers provide ease of handling over hot cast elastomers. These materials are frequently used in potting and encapsulation applications.
- In the production of additives, cast elastomers are used in 3D-printed parts and tools, printing rollers, metal decorating rollers, cutter bars, and sheet metal coaters
- Cast urethanes improve productivity by enabling efficient production processes, including design initiation, engineering, quality testing, and mass production. Furthermore, the minimal shrinkage rate of urethanes allows for production of components with utmost precision.
- The Asia Pacific region held the largest share of the global cast elastomers market in 2019, owing to rapid industrialization, urbanization, and growth of end-user industries in the region, especially in emerging markets such as China and India. Moreover, high investments in the exploration of oil and gas, increasing sales of automobiles, and rising level of disposable income of people in the region drive the market in Asia Pacific.
- Key market participants include Huntsman Corporation, BASF SE, Era Polymers, Lanxess AG, Wanhua Chemical Group, Covestro AG, Coim Group, DowDuPont, Mitsui Chemicals, and Chemline Inc.
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Emergen Research has segmented the global cast elastomers market in terms of product type, distribution channel, application, and region:
- Product Type Outlook (Revenue, USD Million; 2017–2027)
- Cold Cast Elastomers
- Hot Cast Elastomers
- Distribution Channel Outlook (Revenue, USD Million; 2017–2027)
- Online
- Offline
- Application Outlook (Revenue, USD Million; 2017–2027)
- Automotive & Transportation
- Oil & Gas
- Mining
- Agriculture
- Industrial
- Sports & Leisure
- Others
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- Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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