A new report published by Transparency Market Research anticipates that the global cast elastomers market is expanding due to rising usage of cast elastomers in end-use industries such as automotive & transportation, industrial, mining, and oil & gas. Moreover, continuous technological developments present lucrative opportunities to the cast elastomers market.
Rise in demand for cast elastomers in emerging economies and increase in manufacturing activities are also creating growth opportunities for the cast elastomers market. Compliance of stringent regulations and standards and fluctuation in prices of raw materials are the major challenges facing the cast elastomers market.
The report has segregated the cast elastomers market, in terms of region, into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa. Among these, Asia Pacific is predicted to be the dominant region of the global cast elastomers market in terms of value in the near future. Increase in demand for cast elastomers in various end-use industries, rapid industrialization, improvement in economic conditions, supportive government policies, and availability of cheap labor and natural resources are factors fueling the cast elastomers market. Growth in end-use industries is largely driven by the rise in population, increase in per capita income, and changing lifestyles in the region.
Prominent players operating in the global cast elastomers market are included in this report to give a better landscape of the market and these are Huntsman International LLC. , Covestro AG, LANXESS, DowDuPont, The Dow Chemical Company, Tosoh Corporation, BASF SE, Mitsui Chemicals, Inc. , Coim Group, and Era Polymers Pty Ltd.
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