Cast Elastomer Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Hot Cast, Cold Cast), By End Use Industry (Automotive, Mining, Industrial, Transportation, Oil and Gas, Others), By Region and Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCast Elastomer Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Hot Cast, Cold Cast), By End Use Industry (Automotive, Mining, Industrial, Transportation, Oil and Gas, Others), By Region and Competition
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 1.25 billion |
| CAGR (2023-2028) | 5.81% |
| Fastest Growing Segment | Hot Cast |
| Largest Market | Asia Pacific |
Market Overview
Key Market Drivers
Rising Demand of Cast Elastomer in Automotive Industry
Increasing Demand of Cast Elastomer in Industrial Application
Rising Demand of Cast Elastomer in Oil & Gas Industry
Key Market Challenges
Fluctuating Raw Material Prices and Environmental Regulations Poses a Significant Obstacle to Market Expansion
Quality Control and Consistency
Key Market Trends
Technological Advancements
Rising Demand in Medical Devices
Sustainability and Eco-Friendly Formulations
Segmental Insights
Type Insights
End Use Industry Insights
Regional Insights
Recent Developments
- In October 2022, Wanhua Chemical
Group Co., Ltd. collaborated with Agilis, a U.S.-based company specializing in
digital commerce solutions for the chemical industry. Together, they have
introduced a branded e-commerce platform dedicated to Wanhua's TPU
(thermoplastic polyurethanes) product portfolio.
- In July 2022, TOSOH Corporation
announced the commencement of a manufacturing unit and separation media
facility by March 2025, featuring a 70% increase in production capacity
compared to its current levels.
- In September 2021, Huntsman
Corporation planned an expansion of the project in its production facility in
Petfurdo, Hungary. The project aims to enhance the facility's capacity for
polyurethane catalysts and specialty amines.
- In September 2021, Mitsui
Chemicals, Inc. and SKC Co., Ltd. of South Korea announce the dissolve of their
joint venture agreement concerning Mitsui Chemicals & SKC Polyurethanes
Inc. This subsidiary combined the operations of both parent companies in the
field of polyurethane raw materials.
Key Market Players
- BASF SE
- Covestro AG
- Huntsman International LLC
- Era Polymers Pty Ltd
- Lanxess AG
- Tosoh Corporation
- Mitsui Chemicals, Inc
- Coim Group
- Wanhua Chemical Group Co., Ltd.
- VCM Polyurethane Pvt. Ltd.
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