Cast Elastomers Market

Mergers & Acquisitions and Expansions are the Key Development Strategies Adopted by Leading Players in the Global Cast Elastomers Market

Cast elastomers are polyurethane-based systems prepared by reacting isocyanates, polyols, and chain extenders. These polymeric elastomers bridge the gap between elastomers and plastics by offering the performance benefits of engineering plastics, ceramics, metals, as well as the flexibility and resiliency of conventional elastomers. These are cost-effective, and cannot be melted and reformed and are widely used in end-use industries, such as automotive & transportation, industrial, mining, and oil & gas. Increasing demand from high-value applications and superior advantages of cast elastomers are the major factors driving the market for cast elastomers globally. Growth is further driven by the increasing manufacturing activities, especially in emerging economies. 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.

Key companies manufacturing cast elastomers were majorly involved in mergers & acquisitions, joint ventures, and expansions to strengthen their positions in the market. These were the most preferred strategies adopted by market players from 2014 to 2018. Increase in the number of expansions indicates that manufacturers are expanding their distribution networks and geographical reach, and increasing production capacities to capture market shares. Mergers & acquisitions was another major strategy adopted by manufacturers to consolidate their market positions and establish a strong foothold in the cast elastomers market, especially in emerging countries.

Major manufacturers, such as Covestro (Germany), Huntsman (US), Lanxess (Germany), DowDuPont (US), BASF (Germany), Tosoh Corporation (Japan), Mitsui Chemicals (Japan), Coim Group (Italy), and Era Polymers (Australia), among others, are profiled in this report. These companies have adopted both, organic and inorganic strategies to reach leading positions in the global cast elastomers market.

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Covestro (Germany), Huntsman (US), Lanxess (Germany), DowDuPont (US), and BASF (Germany), are the leading players in the global cast elastomers market. These companies have broad product portfolios and strong geographical presence as well as strong positions in the cast polyurethane elastomers industry.

BASF is one of the leading manufacturers of cast elastomers with a broad product portfolio, strong geographical reach, and strong position in the cast polyurethane industry. The company has also undertaken 2 major expansions, which is further expected to strengthen its position in the market. For instance, in 2017, the company increased the capacity of Methylene Diphenyl Diisocyanate (MDI) production facilities at its Verbund site in Geismar, Louisiana. This is expected to further strengthen the company’s position as the leading supplier in North America.

DowDuPont is another major company operating in the cast elastomers market having a strong position in the polyurethane industry. It has recently adopted major strategies to further strengthen its position in the market. For instance, in 2017, Dow Polyurethane, a business unit of DowDuPont, announced the addition of new prepolymer reactors at Dow’s Systems House in Germany. The added capacity is expected to strengthen the company’s position as the key supplier of highly customized polyurethane products to the growing infrastructure and industrial markets.

Related Reports:

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

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Report Code
CH 6406
RI Published ON
6/29/2018
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