About the Report
The global cast elastomers market is slated to expand at a CAGR of around 5% over the next ten years, mainly due to surging demand from the automotive industry.
Cast elastomers are engineered elastomers which are extensively utilized in automotive and oil & gas industry owing to their resilience, resistance and abrasion properties. Over the past half-decade, cast elastomers have been extensively engineered for their application in light weight vehicles.
Changing construction policies across the major economies such as United States, Canada, and United Arab Emirates has paved way for the integration of cast elastomers in building & construction. Dynamic building construction policies to bolster the sales of cast elastomers over long-run forecast period.
The primary goal of Fact.MR's new report on cast elastomers is to provide insights on the demand generators, market scenario and technological advances in the field. The report also provides a breakdown, detailing the major sectors which identify insights into market dynamics, including drivers, restraints, opportunities, trends, and price analysis, as well as key success factors. Market trends have been tracked in more than 20 high-growth countries, indicating that countries in North America, East Asia and Europe have the largest share of the market.
Historical Trends Vs Future Market Outlook
Over the past half-decade, cast elastomers demand has bolstered at a moderate rate owing to the gradual slow down observed from the automotive industry. In the same period, nominal growth of oil & gas industry has also been witnessed providing a minimum dollar opportunity over this period.
Apart from demand from automotive & oil & gas, construction industry to provide opportunistic pockets to the cast elastomer business owing to the extensive integration as essential building & construction materials in the industry.
These cast elastomers are designed to meet the growing demand for improved efficiency. Market players are developing and manufacturing multi-functional cast elastomers as a result of favorable regulatory scenarios and the growth of end-use industries.
Owing to these factors, demand over the long-term forecast period can be estimated by breaking the forecast timeline into three parts.
- Short-run: The market will aim to recover from COVID-19 over this time frame.
- Medium-run: The market will emerge out of the effect of pandemic and recover it growth over this period.
- Long-run: Rise in substitutes and change in building & construction policies to affect the market over this period
All in all, the cast elastomer industry is to expand at a moderate rate of around 5% through 2031, providing a promising stance for investors in the market.
Know More Details About the Report
What are the Benefits of Manufacturers Collaborating with Engineers and Designers?
During the evaluation period, the cast elastomers is expected to grow at a CAGR of 5%. There is, however, a need to get the grip of “Know-How” with producing cast elastomers efficiently. This could be achieved by strong collaboration among polymer engineers and manufacturers.
Fast Radius, for example, a provider of industrial-grade on demand manufacturing solutions, is working with engineers and designers to gain proficiency in elastomers prototyping, which is becoming increasingly popular in additive manufacturing.
New pre-polymers of cast elastomers with extensive performance in automotive and oil & gas have received lots of attention. Manufacturers in alliance with polymer scientists & engineers are expanding the avenues of cast elastomers reach in the market. This is anticipated to bolster the business of cast elastomers over long-run forecast period.
Country Wise Analysis
Why Does China Play a Dominant Role in the Cast Elastomers Business?
China holds huge potential in driving the cast elastomers business on the back of rising electric vehicles market in the region. Dynamic vehicle policies in the region has paved way for demand of lightweight materials including cast elastomers. Country holds huge potential in cast elastomers not only in automotive industry but also in building & construction applications.
In the near future, China is expected to be the most valuable area of the cast elastomers industry. Increased demand for cast elastomers in various end-use industries, rapid industrialization, improved economic conditions, supportive government policies, and the availability of low-cost labor and natural resources are all contributing to the region’s cast elastomers market’s development. The growth of end-use industries is primarily fueled by population growth, rising capita income, and shifting lifestyles.
What Makes Germany Hold Strong Demand for Cast Elastomers?
Because of the substantial contribution from end-use industries, Germany is expected to gain the largest market share in Europe during the forecast period. Furthermore, due to high investment and ongoing R&D activities, the area is expected to develop at a much faster rate. During the forecast period, Germany is expected to rise at a 3% compound annual growth rate.
Fluctuating raw material prices and compliance with strict regulations and standards are factors limiting the growth of the cast elastomers business in the country.
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Category Wise Analysis
Why Have UV-resistant Polyurethane Elastomers Created Higher $ Opportunity over the Past Half-decade?
Manufacturers of cast elastomers are ramping up production capacity to produce low-viscosity, high-functional, polyester polyols for application such as vibration and noise (NVH) materials for automobiles. UV stable resins with superior tensile and tear strength can be made with the aid of high-quality polyester polyols. As a result of these materials, premium cast elastomers with solvent and oxidation resistance are more readily available.
To extend their supply chains, manufacturers are unlocking revenue potentials in irrigation, pipeline safety, and encapsulation applications, in addition to automotive and power industry applications. The rising demand for UV resistant and long lasting polyurethane elastomer is creating new business opportunities for cast elastomer manufacturers.
How Do Rollers and Conveyors Belts Benefit from Use of High-Quality Polyester Polyols?
Manufacturers in the cast elastomers market are looking to expand their business in the Americas, Europe, and Asia Pacific with experienced technical support and R&D. Stepan, a multinational specialty and intermediate chemical producer, is seizing the opportunity by bolstering supply chain for its STEPANPOL polyester polyols, which are used to make microcellular foams and prepolymers for cast elastomers.
Companies in the cast elastomers industry are promoting high-quality polyester polyols to increase sales of rollers and casters, conveyor belts, and thermal barriers, among other items. As a result, suppliers are providing customized services to clients in order to satisfy unique product properties and achieve a competitive advantage.
How Do Sustainable Elastomers Assist Offshore Wind Power Industry Stakeholders in Reducing their Environmental Footprint?
By 2031, the demand for cast elastomers is expected to reach a size of US$ 2 billion. Companies like Covestro, a German manufacturer of polyurethane and polycarbonate raw materials, have joined the market to create long-lasting cast elastomers for the offshore wind industry. Manufacturers are following their lead in developing elastomers that mimic the properties of petrochemical-based items.
Cast elastomer manufacturers are stepping up their efforts to create goods that aid stakeholders in the offshore wind power industry by reducing environmental impact and carbon footprint. As a result, manufacturers are developing carbon dioxide based precursors that eliminate need for fossil raw materials.
What is the Impact of COVID-19 on the Cast Elastomers Industry?
Chemical manufacturers are rethinking investments and restricting development activities in the face of volatile supply and demand situation. Changes in customer perception of COVID-19, on the other hand, are assisting in the revival of the cast elastomer industry. As a result, the chemical industry’s economic downturn is less serious than that of quarantine affected industries like airline and tourism.
Cast elastomers business is likely to observe a downturn owing to the reduced demand from the automotive and oil & gas industries. Moreover, shrink in price of cast elastomers is anticipated to be observed over short-run forecast period. Surge in price to pre-COVID levels is expected to be observed by Q1 of FY2022. All in all market is anticipated to grow at a strong pace over long-run forecast period.
Aforementioned players rely on a blend of organic and inorganic strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks.
- Stepan, a multinational specialty and intermediate chemical producer, is seizing the opportunity by bolstering supply chain for its STEPANPOL polyester polyols, which are used to make microcellular foams and prepolymers for cast elastomers.
Similarly, recent developments related to companies producing cast elastomers have been tracked by the team at Fact.MR, which is available in the full report.
An Adaptive Approach to Modern-day Research Needs
Historical Data Available for
US$ Mn for Value; Tons for Volume
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Key Market Segmented Covered
- Hot Cast Elastomers
- Cold Cast Elastomers
By Raw Material
- TDI-based Cast Elastomers
- MDI-based Cast Elastomers
- Aliphatic Cast Elastomers
- Others (including Polyurethane and NDI-based)
By End-use Industry
- Cast Elastomers for Automotive
- Cast Elastomers for Building & Construction
- Cast Elastomers for Industrial Process & Material Handling
- Cast Elastomers for Mining
- Cast Elastomers for Oil & Gas
- Cast Elastomers for Energy & Power
- Others (including Agriculture, Medical, and 3D Printing)
- North America
- Russia & CIS
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- Asia Pacific
- Rest of Asia Pacific
- North America
Cast Elastomers Market – Scope of the Report
A recent study by Fact.MR on the cast elastomers market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of cast elastomers.
The study also provides the dynamics that are responsible for influencing the future status of the cast elastomers market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing cast elastomers, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of cast elastomers across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the production of cast elastomers during the forecast period. Price point comparison by region with global average price is also considered in the study.
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (Tons) and value (US$ Mn).
Market estimates at global and regional levels for cast elastomers are available in terms of “US$ Mn” for value and in “‘Tons” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global cast elastomers market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the cast elastomers market during the forecast period.
Country-specific valuation on demand for cast elastomers has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of cast elastomers, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of cast elastomers has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.