PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1772633
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1772633
The cast elastomers market size is projected to grow from USD 1.87 billion in 2025 to USD 2.38 billion by 2030, registering a CAGR of 5.0% during the forecast period. The demand for cast elastomers is primarily due to their exceptional mechanical properties, such as abrasion resistance, flexibility, and durability. These attributes contribute to their outstanding performance in demanding industries. Cast elastomers are commonly used in various end-use sectors, including automotive, oil & gas, mining, and industrial manufacturing, where they serve as seals, rollers, wheels, and protective linings. The increasing demand for lightweight, high-performance materials in automotive applications and transportation, along with the rising infrastructure development and industrialization in emerging economies, is driving a significant rise in the demand for cast elastomers. Furthermore, advancements in technology and the availability of bio-based and sustainable elastomers are helping to attract new markets, which further stimulates demand.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million/Billion) and Volume (Kiloton) |
Segments | Type, End-use Industry, and Region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America |
"The hot cast elastomers segment is projected to register the highest growth in terms of value during the forecast period"
Hot cast elastomers are the fastest-growing segment of the cast elastomers market due to their superior mechanical properties and durability compared to cold cast elastomers. These materials are manufactured at elevated temperatures, which enhances cross-linking. As a result, they offer better tear strength, abrasion resistance, and load-bearing capacity. For these reasons, hot cast elastomers are commonly used in extreme industrial applications, such as mining equipment, conveyor rollers, heavy wheels, and components in the oil & gas industry. They can withstand high stress while maintaining reliability and durability, making them essential for these demanding markets that require enduring products. Advancements in processing technology have improved the efficiency of producing hot cast elastomers, leading to further market growth and greater product consistency.
"The automotive & transportation segment is expected to register high growth in the cast elastomers market, in terms of value, during the forecast period"
The automotive and transportation industry segment is projected to register the fastest growth in the cast elastomers market during the forecast period. This growth is driven by the increasing demand for high-performance, lightweight, and durable materials used in vehicle manufacturing. Cast elastomers offer advantageous mechanical properties, such as abrasion resistance, vibration dampening, and strength, making them ideal for critical applications like suspension bushings, engine mounts, seals, gaskets, wheels, and coatings. As vehicle efficiency, comfort, and safety improve, the demand for advanced elastomer components is rising. Additionally, the global trend toward EV adoption creates further growth opportunities since EVs often require new elastomeric parts designed to withstand unique stress, heat, and noise conditions. The growth of commercial and off-road vehicles, particularly in developing countries, also contributes to this demand. Ongoing investments in transportation infrastructure and the expansion of logistics networks are further driving the utilization of cast elastomers in trailers, rail systems, and heavy transport applications. These factors are collectively fueling the demand for cast elastomers in the automotive and transportation sectors.
"Asia Pacific is projected to be the fastest-growing region in the cast elastomers market in terms of value during the forecast period.
The Asia Pacific region continues to be the fastest-growing market for cast elastomers, driven by significant industrialization and urbanization. Key manufacturing sectors, such as automotive, electronics, mining, and construction, are expanding rapidly in countries like China, India, Japan, and South Korea. China leads the world in automotive and electronics production, while India is attracting substantial foreign direct investment for infrastructure and industrial development. There is a growing demand for high-quality elastomer components, including seals, rollers, gaskets, and protective linings. Low labor costs and supportive government policies have contributed to increased factory investments from foreign direct investments in manufacturing, which, in turn, has boosted the consumption of cast elastomers. Additionally, the growth of electric vehicles, renewable energy projects, and high-speed rail networks is creating further demand for durable, lightweight, and wear-resistant materials that cast elastomers provide.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the cast elastomers market, and information was gathered from secondary research to determine and verify the market size of several segments.
The cast elastomers market comprises major players such as BASF (Germany), Dow (US), Huntsman International LLC (US), Covestro AG (Germany), Wanhua (China), LANXESS (Germany), Era Polymers Pty Ltd (Australia), Mitsui Chemicals, Inc. (Japan), Notedome (UK), and TOSOH CORPORATION (Japan). The study includes an in-depth competitive analysis of these key players in the cast elastomers market, as well as their company profiles, recent developments, and key market strategies.
Research Coverage
This report segments the cast elastomers market by type, end-use industry, and region and estimates its overall value across various regions. It has also conducted a detailed analysis of key industry players to provide insights into their business overviews, products and services, key strategies, and expansions associated with the cast elastomers market.
Key Benefits of Buying This Report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape; emerging and high-growth segments of the cast elastomers market; high-growth region; and market drivers, restraints, opportunities, and challenges.