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

NEW YORK, July 4, 2018 /PRNewswire/ -- Increasing use of cast elastomers in niche applications and increasing manufacturing activities in emerging economies are driving the growth of the cast elastomers market

Read the full report: https://www.reportlinker.com/p05468490

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 automotive & transportation, industrial, mining, and oil & gas. The growing demand from emerging economies along with the increasing manufacturing activities is creating growth opportunities for the cast elastomers market. However, fluctuating raw material prices act as a restraint for the growth of the market.

Hot cast is projected to be the fastest-growing segment of the cast elastomers market, by type
Hot cast is projected to be the fastest-growing segment of the cast elastomers market during the forecast period (2018-2023).Hot cast elastomers are gaining popularity owing to their excellent impact strength, high abrasion resistance, tensile strength, high load-bearing capacity, and cost-effectiveness.

Furthermore, increasing use of cast elastomers in several end-use industries is also expected to drive the hot cast elastomers market during the forecast period.
Automotive & transportation is projected to be the fastest-growing segment of the cast elastomers market, by end-use industry
Automotive & transportation is projected to be the fastest-growing end-use industry of the cast elastomers market during the forecast period (2018-2023). Properties, such as toughness, low abrasion, thermal stability, and durability and increasing production of automotives, especially in the APAC region are expected to drive the market.

APAC is projected to be the fastest-growing market for cast elastomers, by region
The APAC region is projected to be the fastest-growing market for cast elastomers during the forecast period.Growth of the cast elastomers market in APAC is due to the fact that the region has a favorable and cost-effective manufacturing environment, significant consumer base, and supportive government policies.

Furthermore, growing end-use industries, such as automotive & transportation and oil & gas are also driving the cast elastomers market in the APAC region.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided into three categories, namely, by company, by designation, and by region.
• By Company Type: Tier 1 - 43%, Tier 2 - 36%, and Tier 3 - 21%
• By Designation: C-Level Executives- 21%, Director Level - 29%, and Others - 50%
• By Region: APAC – 32%, Europe – 30%, North America - 27%, RoW - 11%

The report also provides company profiles and competitive strategies adopted by major market players, such as Covestro (Germany), Huntsman (US), Lanxess (Germany), DowDuPont (US), BASF (Germany), Tosoh Corporation (Japan), Mitsui Chemicals (Japan), and Era Polymers (Australia), among others.

Research Coverage:
The report covers the cast elastomers market and its applications across different regions.It aims at estimating the market size and future growth potential of this market across different segments, such as type, end-use industry, and region.

The report also includes an in-depth competitive analysis of the key market players along with their company profiles.

Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the cast elastomers market; high-growth regions; and market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on cast elastomers offered by the top players in the global cast elastomers market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the global cast elastomers market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for cast elastomers across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global cast elastomers market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global cast elastomers market

Read the full report: https://www.reportlinker.com/p05468490

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

View original content:http://www.prnewswire.com/news-releases/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--300676371.html

SOURCE Reportlinker