Global Cast Elastomers Market is estimated at USD 1.20 billion in 2018 and is projected to reach USD 1.52 billion by 2023, at a CAGR of 4.8% between 2018 and 2023.
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The market is witnessing growth due to the increasing use of cast elastomers in end-use industries, such as industrial, automotive & transportation, mining, oil & gas, and others.

Based on type, the cast elastomers market is segmented into hot cast & cold cast elastomers. Hot cast elastomers are estimated to lead the segment in 2018 owing to the wide usage in applications which require high abrasion resistance, and high load-bearing capacity. The segment is also projected to grow at the highest CAGR during the forecast period owing to its low price, thermal stability, durability, and impact resistance.

Based on end-use industry, the cast elastomers market is segmented into industrial, automotive & transportation, mining, oil & gas, and others. The industrial segment is estimated to be the largest segment of the global cast elastomers market in 2018, and is further projected to retain this position during the forecast period. This is due to the increasing use of cast elastomers in applications, such as machinery parts, rollers, and industrial wheels. Properties of cast elastomers, such as being cost-effective, low abrasion, thermal stability, and durability are further expected to drive the market in the industrial segment.

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APAC is estimated to be the largest as well as fastest-growing market for cast elastomers during the forecast period. Availability of cheap labor, favorable government policies, strong manufacturing base, and rapid industrialization are expected to boost the demand for cast elastomers in the region during the forecast period. The growth of the market in APAC can be attributed to the shift in the manufacturing facilities of cast elastomers from the western regions to the APAC countries, especially China and India, by various end-use industries, mainly automotive & transportation, industrial, and mining. Apart from this, increasing urbanization, large consumer base, and increasing disposable incomes are expected to drive the market in the region.

The global cast elastomers market is witnessing moderate growth. Factors restraining and challenging the growth of the cast elastomers market are fluctuating raw material prices and compliance with stringent regulations and standards.

Covestro (Germany), Huntsman (US), Lanxess (Germany), DowDuPont (US), and BASF (Germany), lead the global cast elastomers market. These players are the major manufacturers of cast elastomers and are gaining a strong foothold in the market due to their robust business strategies.

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List of Figures (45 Figures)

Figure 1 Cast Elastomers Market: Research Design
Figure 2 Breakdown of Primary Interviews
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Cast Elastomers Market: Data Triangulation
Figure 6 Hot Cast Type to Lead the Cast Elastomers Market
Figure 7 Industrial to Be the Largest End-Use Industry
Figure 8 APAC Was the Largest Cast Elastomers Market in 2017
Figure 9 India to Be the Fastest-Growing Cast Elastomers Market During the Forecast Period
Figure 10 The Growing Demand Across End-Use Industries to Drive the Cast Elastomers Market

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