The demand for cast elastomers is increasing across a variety of end-use industries. This article will examine the factors driving the market, the major players in the market, and the competitive landscape. We will also discuss the various types of products produced from cast elastomers. After you have read the article, you will be able to better understand the industry. Read on to discover the most important aspects about this market.
Demand for cast elastomers is increasing in different end-use industries
Among the many uses of cast elastomers, automotive applications are among the largest. They provide a number of innate capabilities that make them more durable and resilient than other types of plastics. These compounds also offer excellent resistance to grease and oil. Throughout the past decade, the global cast elastomers market has grown at a fast rate. However, the growth in the market is limited by stringent government regulations and fluctuating prices of raw materials.
Companies that produce cast elastomers are looking for ways to expand their global reach. Some of them are exploring opportunities in Asia Pacific and Europe. One such company is Stepan, a global specialty chemicals manufacturer. STEPANPOL polyester polyols are used in casting elastomers, microcellular foams, thermal barriers, and conveyor belts. Stepan’s elastomers and microcellular foams are in-demand in different end-use industries, demonstrating the global demand for cast elastomers.
Major players
In this report, we’ve analyzed the competitive landscape of the global cast elastomers market. We’ve provided detailed information on the market size, growth prospects, and key company profiles, and analyzed the market’s current and future trends. Moreover, we’ve included the unbiased views of industry experts to provide a thorough analysis of the market. You’ll also find a detailed analysis of the cast elastomers market, which includes information on product types, applications, and regional distribution networks.
Among the factors that have been weighing on the growth of the industrial sector are changes in global economic conditions and uncertainty, which are affecting investments and development activities in the chemical industry. Nevertheless, the situation is expected to improve as most economies have begun to open up, and industrial activity has been resumed with a restricted workforce. Moreover, the COVID-19 outbreak is having a negative impact on sales volume of cast elastomers in the first and second quarters of 2020. In these circumstances, major players are adopting various strategies, such as concentrating on the management of local operations and identifying untapped market opportunities.
Regional analysis
The global cast elastomers market is segmented into regions based on their demand and supply dynamics. This report provides detailed regional analyses for five major regions including North America, Europe, Asia Pacific, and Middle East and Africa. Key players in the industry are listed at the end of the report. The report evaluates the growth prospects of these regions. It also identifies the key factors affecting these regions.
Automotive & transportation will be the fastest growing end-use industry during the forecast period. The industry is expected to benefit from cast elastomers’ toughness, thermal stability, and durability. Furthermore, rising manufacturing activity in emerging economies is expected to drive the market growth. Further, the demand from high-value end-use industries is expected to spur the market growth in APAC. Further, APAC is predicted to have the fastest CAGR during the forecast period.
Competitive landscape
The competitive landscape of the cast elastics market includes the products, regions, and countries where these products are manufactured. It also includes company profiles, SWOT analysis, new product launches and acquisitions, strategic recommendations for new entrants, and regional market data. The report highlights the top companies and their financial results to help business owners make informed decisions about the future of their industry. It also provides an analysis of the global market and the companies that are positioned to benefit from the growth.
The Asia Pacific region dominated the market in 2019, with a large population pool and a high number of orthopedic patients. North America ranked second in the competitive landscape, with a growing number of orthopedic disorders associated with aging and road mishaps. Additionally, reimbursement policies have improved access to these products, which have been previously costly. In addition, the growing incidence of road mishaps and traffic accidents is likely to further spur the growth of this market.
