Ocean View, DE -- (SBWIRE) -- 06/29/2020 -- A key factor analyzed by GMI for Cast Elastomers market growth includes proliferating demand for superior elastomers in multiple sectors across the industrial landscape.

The most common material used to produce cast elastomers is polyurethane, owing to its cost-effectiveness as well as its ability to demonstrate the characteristics of high-tech ceramics, metals and plastics, reinforced with the flexibility and resilience of rubber. Superior resistance to abrasion, wear, chemical and low temperature, in addition to high tensile strength and load bearing capacity and other such beneficial properties are major contributing factors to cast elastomers industry expansion. The application scope of these materials spans across myriad industries, including oil & gas, mining, automotive, agriculture, etc.

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This report provides a detailed and comprehensive analysis on the Cast Elastomers Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026, including:

- Cast Elastomers market size, historical from 2015 to 2019 and annual forecast from 2020 to 2026

- Major Cast Elastomers industry trends, technology evolution, economic indicators and business challenges
- Regulatory and geopolitical trends impacting the industry
- Business drivers and pitfalls impacting key regional markets
- Competitive landscape of the industry and detailed profiles on the major companies

Companies mentioned in the report include:

- Chemline
- LANXESS
- Wanhua Chemical Group Co., Ltd.
- Huntsman Corporation
- ERA Polymers
- BASF SE
- Tosoh Corporation
- Polycoat products
- Covestro AG

Growth will predominantly come from Europe, owing to burgeoning automotive production in the region, and the subsequent rise in demand for suitable elastomers. According to studies conducted by the European Automobile Manufacturers' Association (ACEA), the number of motor vehicles produced in the European Union in 2018 was over 19.2 million.

Additionally, rising demand for elastomers for the manufacturing of various automotive and industrial components, such as casing components, belt scrapers, roller coatings, etc is among the key factors which are likely to drive Europe Cast Elastomers market size.

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Industrial, automotive & transportation, mining, agriculture, oil & gas, and others will continue to remain as key applications in the Cast Elastomers industry. Among these, the industrial segment is projected to emerge as a lucrative revenue pocket over the forecast spell, given the growing utilization of cast elastomers in several industrial applications, including industrial wheels, rollers and machinery parts, among others.

The materials possess numerous advantageous characteristics, including durability, thermal stability, cost efficiency, low abrasion and more, which is likely to drive cast elastomers market penetration in the industrial application segment.

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