Global Cast Elastomers Market 2021 (Includes Business Impact of COVID-19)

                                          
“Global Cast Elastomers Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by Trusted Business Insights. The global cast elastomers market report has been segmented on the basis of type, application, and region.

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Introduction:

Elastomers are rubber-like polymers that have high elasticity as compared to other material.  When distorted by external forces elastomers are able to resist flow like a viscous liquid. The versatility of polyurethane cast elastomers provides the ability to achieve an optimum set of physical properties required for a specific application.

Dynamics:

Rising demand for cast elastomers from various end-use industries, owing to superior advantages over conventional materials is a major factor expected to drive growth of the global cast elastomers market. In addition, rapid industrialization in developed and developing countries and increasing number of manufacturing units in emerging economies, owing to low cost labor and easy availability of raw material are among other factors expected to support growth of the global market to certain extent.

Moreover, elastomers have excellent physical properties such as high abrasion resistance and load bearing capacity which is expected to increase its demand from automotive and transportation sector. This is another factor expected to further support growth of the global market to certain extent. In addition, increasing demand for cast elastomers from oil & gas sector is another factor expected to further boost growth of the global market to certain extent.

However, cast elastomers have harmfully effects on environment and human health which is a major factor expected to hamper growth of the global cast elastomers market. In addition, stringent government regulations and fluctuating raw material prices are among other factors expected to limit growth of the global market to certain extent.

Technological advancements and increasing R&D activities by major players is expected to create potential revenue opportunities for players operating in the target market over the forecast period. In addition, increasing expansion activities through strategic partnership and agreements is another factor expected to further support growth of the target market to certain extent.

Region Analysis:

The market in North America is expected to dominate the global cast elastomers market in terms of revenue and is expected to continue its dominance over the forecast period. The dominance can be attributed to increasing demand from oil & gas sector and presence of major players operating in the countries in this region. In addition, growing merger and acquisition activities among regional and international players is expected to further support growth of the market in this region. The market in Asia Pacific is expected to witness faster growth, owing increasing presence of major manufacturing units, increasing demand from automotive industry, and presence of prominent players operating in emerging economies such as India and China in this region. The market in Latin America is expected to witness moderate growth.

Global Cast Elastomers Market Segmentation:

By Type:

Hot Cast Elastomer
Cold Cast Elastomer

By Application:

Industrial
Automotive and Transportation
Mining
Oil and Gas
Others