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Cast Elastomer Market Size - By Type (Hot, Cold), By Material Type (Polyurethane (PU), Epoxy, Silicone, Rubber), By Application & Global Forecast, 2024 – 2032

  • Report ID: GMI4089
  • Published Date: Jan 2024
  • Report Format: PDF

Cast Elastomer Market Size

Cast Elastomer Market was valued at around USD 1.4 billion in 2023 and is estimated to showcase about 5.3% CAGR from 2024 to 2032. Cast elastomers find applications in diverse industries, including automotive, healthcare, electronics, industrial, and consumer goods, due to their exceptional properties and versatility.
 

Cast Elastomer Market

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Cast elastomers exhibit excellent durability, resilience, and resistance to wear and tear, making them suitable for applications where longevity and reliability are critical. They offer resistance to various chemicals, solvents, and oils, which is crucial for applications in industries such as automotive, where exposure to fluids is common. Manufacturers can adjust the formulation of cast elastomers to meet specific requirements, enabling the production of materials with different hardness levels, colors, and properties.
 

The formulation and processing of cast elastomers can be complex, requiring expertise and knowledge to achieve desired properties. Improper formulation can lead to inconsistencies in product quality and performance. In industries such as healthcare and medical devices, ensuring compliance with stringent regulatory standards and certifications can be challenging, adding complexity to the manufacturing process. Cast elastomers often require precise curing and processing times, which can affect production efficiency and lead times.
 

COVID-19 Impact

Manufacturing facilities faced temporary closures or reduced production capacities to adhere to safety protocols and social distancing measures. This could have resulted in delays in the production of cast elastomers. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the industry development in the upcoming years.
 

Cast Elastomer Market Trends

Cast elastomers were finding growing use in the medical and healthcare sectors due to their biocompatibility, durability, and versatility. They were being employed in medical devices, prosthetics, orthotics, and wearable health technology. Manufacturers were offering customizable solutions to cater to specific customer needs. Customized formulations and variations in hardness, colors, and properties were being developed to meet diverse application requirements.
 

Cast Elastomer Market Analysis

Cast Elastomers Market Size, By Type, 2021 - 2032 (USD Billion)

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Based on type, the cast elastomer market is segmented as cold and hot. Fresh sources held a majority market value of USD 0.8 billion in 2022. Hot cast elastomers offer excellent mechanical properties, including high tensile strength, tear resistance, and impact resistance. This durability makes them suitable for applications where materials need to withstand challenging conditions. The hot casting process allows for the production of intricate and complex shapes with high precision.  
 

Cast Elastomers Market Revenue Share (%), By Material Type, (2022)

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Based on application, the cast elastomer market is segmented as polyurethane (PU), epoxy, silicone, rubber, others. Polyurathene held a dominant market share of around 40% in 2022. Polyurethane elastomers are favored in applications requiring high durability and resistance to wear, such as industrial seals, wheels, and gaskets. Their resistance to oils, solvents, and chemicals makes polyurethane elastomers suitable for automotive, mining, and oil and gas applications.
 

Based on application the cast elastomer market is segmented as industrial components and machinery, automotive parts, mining equipment components, oil and gas equipment, seals and gaskets, rollers and wheels, belts and conveyors, others. Industrial Components and Machinery segment is anticipated to grow at 4.9% CAGR by 2032. Cast elastomers find use in industrial components subjected to wear and abrasion, such as conveyor belts, rollers, and seals.
 

U.S. Cast Elastomers Market Size, 2020- 2032 (USD Billion)

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U.S. dominated the North American region with majority cast elastomer market share and a revenue of USD 0.3 billion in 2022. North America has a significant automotive industry, driving demand for cast elastomers used in automotive components such as gaskets, seals, vibration dampers, and suspension systems.
 

Cast Elastomer Market Share

Some of the major market players operating in the Cast elastomer market are:

  • Huntsman Corporation
  • Dow Inc
  • LANXESS AG
  • Wacker Chemie AG
  • Momentive Performance Materials Inc.
  • Tosoh Corporation
  • Chemline Inc
  • Cast Urethane
  • Prepolymer (C.U.P.)
  • American Urethane
  • Rubber Industries Inc
  • PSI Urethanes
  • Gallagher Corporation
  • Accella Polyurethane Systems
  • Specialty Products, Inc.
  • Innovative Polymers, Inc
     

Cast Elastomer Industry News:

  • In September 2021, Huntsman Corporation plans to launch a “multi-million” dollar expansion project at its Petfurdo, Hungary production facility to boost the site’s capacity for polyurethane catalysts and specialty amines.
     

Cast elastomer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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By Type

  • Hot
  • Cold

By Material Type

  • Polyurethane (PU)
  • Epoxy
  • Silicone
  • Rubber
  • Others

By Application

  • Industrial Components and Machinery
  • Automotive Parts
  • Mining Equipment Components
  • Oil and Gas Equipment
  • Seals and Gaskets
  • Rollers and Wheels
  • Belts and Conveyors
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market value for cast elastomer was worth around USD 1.4 billion in 2023 and is estimated to reach USD 2.2 billion by 2032.
Industrial Components and Machinery segment is expected to observe around 4.9% CAGR from 2023 to 2032 as cast elastomers are widely used in industrial components subjected to wear and abrasion.
U.S. market size was around USD 0.3 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032 owing to the booming automotive industry that is driving demand for cast elastomers for the vehicle components.
Huntsman Corporation, Dow Inc., LANXESS AG, Wacker Chemie AG, Momentive Performance Materials Inc., Tosoh Corporation, Chemline Inc., Cast Urethane, Prepolymer (C.U.P.), American Urethane, Inc., Rubber Industries Inc., PSI Urethanes, Gallagher Corporation, Accella Polyurethane Systems, Specialty Products, Inc., Innovative Polymers, Inc. among others.

Cast Elastomer Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 191
  • Countries covered: 21
  • Pages: 150
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