Global Cast Elastomers Market to 2023 - Focus on Automotive & Transportation, Industrial, Mining, and Oil & Gas Industries
DUBLIN, Feb. 18, 2019 /PRNewswire/ -- The "Cast Elastomers Market by Type (Hot Cast, Cold Cast), End-use Industry (Automotive & Transportation, Industrial, Mining, Oil & Gas), and Region (North America, Europe, APAC, Middle East & Africa, South America) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The 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.
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.
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.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Data From Secondary Sources
2.3 Primary Data
2.3.1 Key Data From Primary Sources
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Data Triangulation
2.6 Assumptions
2.7 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Cast Elastomers Market
4.2 Cast Elastomers Market, By Type
4.3 Cast Elastomers Market, By Region
4.4 Hot Cast Elastomers Market
4.5 Cast Elastomers Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand From High-Value End-Use Industries
5.2.1.2 Superior Advantages Over Conventional Materials
5.2.1.3 Increasing Demand From Emerging Economies
5.2.2 Restraints
5.2.2.1 Hazardous Impact on the Environment and Human Health
5.2.3 Opportunities
5.2.3.1 Continuous Technological Developments
5.2.4 Challenges
5.2.4.1 Compliance With Stringent Regulations and Standards
5.2.4.2 Fluctuating Raw Material Prices
6 Industry Trends
6.1 Porter's Five Forces Analysis
6.2 Macroeconomic Overview and Key Trends
6.2.1 Automotive Industry
7 Cast Elastomers Market, By Type
7.1 Introduction
7.2 Hot Cast Elastomer
7.3 Cold Cast Elastomer
8 Cast Elastomers Market, By End-Use Industry
8.1 Introduction
8.2 Industrial
8.3 Automotive & Transportation
8.4 Mining
8.5 Oil & Gas
8.6 Others
9 Cast Elastomers Market, By Region
9.1 Introduction
9.2 APAC
9.2.1 China
9.2.2 Japan
9.2.3 India
9.2.4 South Korea
9.2.5 Rest of APAC
9.3 North America
9.3.1 US
9.3.2 Canada
9.3.3 Mexico
9.4 Europe
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Italy
9.4.5 Russia
9.4.6 Turkey
9.4.7 Rest of Europe
9.5 Middle East & Africa
9.5.1 Iran
9.5.2 Saudi Arabia
9.5.3 South Africa
9.5.4 Rest of the Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.2 Argentina
9.6.3 Rest of South America
10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking Analysis
10.3 Competitive Situations and Trends
10.3.1 New Product Development
10.3.2 Expansion
10.3.3 Merger & Acquisition
10.3.4 Joint Venture
11 Company Profiles
11.1 Covestro
11.2 Huntsman
11.3 Lanxess
11.4 Dowdupont
11.5 BASF
11.6 Tosoh Corporation
11.7 Mitsui Chemicals
11.8 Wanhua Chemical
11.9 ERA Polymers
11.10 Coim Group
11.11 Additional Company Profiles
11.11.1 Taiwan Pu Corporation
11.11.2 Notedome Limited
11.11.3 Accella Polyurethane Systems
11.11.4 Chemline, Inc.
11.11.5 Everchem Specialty Chemicals
11.11.6 Polycoat Products
11.11.7 Synthesia International S.L.U.
11.11.8 Makro Chemical
11.11.9 Axson Technologies
11.11.10 Reckli
11.11.11 VCM Polyurethane Pvt. Ltd.
11.11.12 Perstorp
11.11.13 Herikon
11.11.14 LUC Group
11.11.15 Sapici S.P.A.
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