Increasing Customer Inclination towards Fuel Efficient Light Weight Vehicle Amplifying Multifunctional Cast Elastomers Market Demand: Fact .MR

Growing demand for high quality polyester polyols for manufacturing rollers and casters accelerates the cast elastomers market growth.

NEW YORK, June 15, 2021 /PRNewswire/ -- As per the study by Fact MR, the global cast elastomers market is forecast to grow at 5% CAGR over the assessment period. According to the study, cast elastomers are specially engineered elastomers designed specifically for oil and gas industry as they have high resistance and abrasive properties.

Cast elastomers are finding its place in construction industry especially in developed economies due to changing dynamic construction regulations leading to heightened market sales. Manufacturers are forming alliance with polymer scientists to study the performance of cast elastomers in various high end applications.

They are collectively working towards integrating cast elastomers in additive manufacturing. The advancement in manufacturing of cast elastomers to improve production rate will boost the market growth.

Key market players are eyeing towards producing low-viscosity, high-functional, polyester polyols in greater capacity. Polyester polyols are extensively used as vibration and noise (NVH) materials for automobiles.

UV stable resins with enhanced tensile and tear strength can be made with the aid of high-quality polyester polyols. By using these materials, premium cast elastomers made piping system with solvent and oxidation resistance properties can be manufactured.

The rising demand for UV resistant and long lasting polyurethane elastomer used in irrigation and pipeline safety will novel growth opportunities for cast elastomer manufacturers.

"Increasing focus on developing cost effective cast elastomers which replicate the properties of metals and ceramics while maintaining the flexibility and resilience like rubber will boost the market growth," said a lead analyst at Fact.MR.

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Key Takeaways

• Global cast elastomers market is anticipated to reach the valuation of US$ 2 Bn in terms of revenue by the end of 2031.
• Abundance of raw material and industrialization coupled with favorable government policies will fuel the cast elastomers market growth in China
• India is expected to provide lucrative growth opportunities on the backs of improved economic conditions and availability of cheap labor.
• Development and advancement in end use industries led by rising purchasing power and population growth will drive the market growth in U.S.
• Increasing government investment towards research and development of cast elastomers coupled with shifting lifestyles will pave way for tremendous market growth in Germany.

Prominent Drivers

• Cast elastomers are finding applications in automotive, transportation, and mining will positively influence the market demand in developing nations.
• Elevated manufacturing activities in emerging economies and consistent research and development in the field of elastomers will be boosting the market demand.
• Rising demand for UV resistant polyurethane elastomers in pipe manufacturing will elevate the market growth.

Key Restraints

• Limiting use of cast elastomers by government authorities for its harmful effects on human health and environment restraints the market growth.
• Mandatory compliance of strict regulatory policies is hampering the cast elastomers market growth.
• Growing instability in prices of raw material required for cast elastomers manufacturing negatively influences the market growth.

Discover more about the cast elastomers market with 144 figures and 78 data tables, along with the table of contents.

https://www.factmr.com/report/cast-elastomers-market       

Competitive Landscape

Leading players operating in cast elastomers market profiled by Fact.MR are Covestro AG, Argonics, Inc., Huntsman International LLC, BASF SE, Tosoh Corporation, Mitsui Chemicals, Inc., Dow, Coim Group, Era Polymers Pty Ltd., Wanhua Chemical Group Co. Ltd., Notedome Limited, and LANXESS AG.

The main area of interest among the market players is deepening the penetration across potential and new markets. They are employing organic and inorganic marketing strategies to achieve the goal.

Rise in strategic merger and acquisition is also observed followed by new product launches. Market players are also focusing towards strengthening their supply chain by forming long term alliance with regional and global distribution partners while simultaneously establishing new networks.

For instance, Stepan being a multinational specialty and intermediate chemical producer is grasping the opportunity by strengthening supply chain for its STEPANPOL polyester polyols. They are used to make microcellular foams and pre-polymers for cast elastomer.

More Valuable Insights on Cast Elastomers Market

Fact.MR, in its new report, offers an unbiased analysis of the global cast elastomers market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on in cast elastomers market on the basis of type (hot cast elastomers, cold cast elastomers), raw material (I-based cast elastomers, MDI-based cast elastomers, aliphatic cast elastomers, others (including polyurethane and NDI-based)), end user (cast elastomers for automotive, cast elastomers for building & construction, cast elastomers for industrial process & material handling, cast elastomers for mining, cast elastomers for oil & gas, cast elastomers for energy & power, others (including agriculture, medical, and 3d printing)), across regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).

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Key Questions Covered in the Report

• Which factor will be the most crucial for cast elastomers market growth?
• What is likely to be the future outlook of cast elastomers market?
• What are the key drivers and restraints for cast elastomers market?
• Which region has the highest growth rate in cast elastomers market?
• Which are the leading players operating in cast elastomers market?

Explore Fact. MR's Coverage on Chemical and material Domain

Hot Cast Elastomers Market: The global hot cast elastomers market report published by Fact.MR offers an exhaustive analysis on the prominent growth dynamics, including possible drivers, opportunities and challenges, expected to prevail across the landscape for the upcoming decade. A detailed insight regarding key geographies and prominent manufacturers has been embedded in this report.

Cold Cast Elastomers Market: Fact. MR's latest report on global cold cast elastomers market gives a detailed insight on the key drivers, trends and opportunities expected to prevail across prominent segments and key geographies for the forthcoming assessment period. Additionally, details about prominent manufacturers and their revenue shares have also been incorporated.

Water Soluble Elastomer Market: The latest report by Fact.MR on global water soluble elastomer market offers an unbiased analysis on the growth prospects, strategies and competitive landscape for the upcoming period. The key players' market share data provided by the report given you detailed insights on the shortcomings and forthcomings of the market for the forecast period. 

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