Market ReportsNewsrss5

Cast elastomer market to reach $1.8 billion by 2028

Pune, India – announces that the cast elastomer market reached USD 1.4 billion for the year 2023 and is projected to reach USD 1.8 billion in 2028 at a CAGR of 5.0%.

They provide excellent vibration dampening, impact resistance, and durability, contributing to improved ride comfort and vehicle handling.Cast elastomers are utilized for sealing applications in the automotive industry.

They provide effective sealing solutions for engine components, including valve covers, oil pans, and timing covers.Cast elastomer gaskets offer superior resistance to oils, fuels, and other fluids, ensuring reliable and leak-free performance.

Cast elastomers are employed in body seals and weatherstrips to ensure proper sealing between vehicle body panels, doors, windows, and other openings. They offer flexibility, weather resistance, and sealing properties, preventing water, dust, and noise intrusion into the vehicle cabin. Cast elastomers are employed in automotive seating systems to enhance comfort and durability. They provide cushioning, impact resistance, and flexibility, ensuring comfortable seating for occupants.

Hot cast elastomers often exhibit improved physical properties compared to other types of elastomers. They can have higher tear resistance, tensile strength, and elongation, making them suitable for demanding applications where durability and performance are crucial.. The hot casting process for elastomers allows for efficient and cost-effective production. It enables the molding of complex shapes and the creation of large parts, reducing the need for assembly or joining multiple pieces. This efficiency in processing can contribute to the growth and adoption of hot cast elastomers. Hot cast elastomers may have experienced growth due to increased demand in specific industries. For example, industries such as oil and gas, mining, and construction often require elastomers that can withstand harsh environments and provide excellent abrasion resistance. Hot cast elastomers’ properties make them suitable for these demanding applications, leading to increased usage and market growth.

Based on region, Asia Pacific was the largest market for cast elastomer in 2023, in terms of value.
The Asia-Pacific region, notably countries like China, India, and Southeast Asian nations, has witnessed substantial industrialization and economic growth in recent years.This progress has resulted in heightened demand for cast elastomers across multiple industries, including automotive, manufacturing, construction, and electronics.

The Asia-Pacific region has witnessed remarkable growth in the automotive industry.Cast elastomers are extensively employed in various automotive applications, including suspension components, bushings, seals, gaskets, and engine mounts.

The increasing demand for automobiles in the region propels the need for cast elastomers.Many countries in the Asia-Pacific region are heavily investing in infrastructure development, encompassing transportation, energy, and construction projects.

Cast elastomers are widely utilized in infrastructure projects for applications like bridge bearings, expansion joints, pipeline coatings, and vibration dampening. The ongoing development of infrastructure activities contributes to the demand for cast elastomers in the region. The Asia-Pacific region provides a favorable manufacturing environment characterized by factors such as lower labor costs, availability of raw materials, and supportive government policies. These aspects encourage manufacturers to establish production facilities in the region, thereby driving the demand for cast elastomers.

The key players in this market are BASF (Germany), Dow (US), Huntsman Corporation (US), Covestro AG (Germany), Lanxess (Germany), Era Polymers (Australia), Mitsui Chemicals, Inc. (Japan), Notedome Ltd. (England), TOSOH Corporation (Japan), Wanhua Chemical Group Co., Ltd. (China).