Cast Elastomer Market Size
| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 1.51 Billion |
| Market Size (2030) | USD 1.93 Billion |
| CAGR (2025 - 2030) | 5.00% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Cast Elastomer Market Analysis
The Cast Elastomer Market size is estimated at USD 1.51 billion in 2025, and is expected to reach USD 1.93 billion by 2030, at a CAGR of greater than 5% during the forecast period (2025-2030).
The COVID-19 pandemic had a significant impact on the cast elastomer market. Manufacturing facilities faced temporary closures or reduced production capacities due to safety protocols and social distancing measures. However, as restrictions eased, industries like automotive and oil & gas rebounded, driving demand for cast elastomers.
- Rising demand for cast elastomers from the automotive industry and expanding industrial activities in sectors like mining, oil & gas, and manufacturing are likely to drive the market studied in the coming years.
- However, volatility in raw material prices is expected to hinder the cast elastomer market.
- Technological advancements in production processes are likely to create opportunities for the cast elastomers in the forecast period
- Asia-Pacific region is expected to dominate the market with the largest consumption from countries, such as India and China.
Cast Elastomer Market Trends
Growing Demand of Cast Elastomers from Automotive Industry
- The automotive industry has been witnessing a growing demand for advanced materials that can enhance performance and durability.
- Cast elastomers, with their superior properties such as high abrasion resistance, tensile strength, and flexibility, have emerged as a critical component in automotive applications.
- As vehicle production continues to rise, particularly in emerging economies, the need for cast elastomers in manufacturing has increased significantly.
- Data from the ASEAN Automotive Federation, published in January 2025, revealed that by September 2024, Southeast Asia produced approximately 3.47 million motor vehicles.
- Among these, Thailand led the region with around 1.36 million vehicles produced, followed by Indonesia with approximately 885 thousand units.
- Similarly, in India, the Society of Indian Automobile Manufacturers (SIAM) reported that the total vehicle production volume in the financial year 2024 reached around 28.43 million units, reflecting an increase compared to the previous year.
- This growth in vehicle production underscores the rising demand for materials like cast elastomers in the automotive sector.
- Cast elastomers are particularly valued for their ability to perform under heavy loads, vibrations, and extreme conditions, making them ideal for use in automotive parts such as suspension pads, bushings, seals, and belts.
- Additionally, as automakers focus on reducing vehicle weight to improve fuel efficiency, cast elastomers offer a lightweight yet durable solution, further driving their adoption.
- In conclusion, the combination of increasing vehicle production, particularly in emerging markets, and the need for lightweight, high-performance materials positions cast elastomers as a dominant force in the automotive industry during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is anticipated to dominate the cast elastomers market during the forecast period, driven by robust industrial growth, infrastructure development, and expanding end-user industries. This analysis explores the key factors contributing to the market's growth in the region.
- Industrial growth in countries like China and India is spurring demand for cast elastomers, particularly in the automotive, construction, and manufacturing sectors. As a major automotive production hub, the region sees a rising appetite for lightweight and durable materials, such as cast elastomers.
- India's automotive sector, one of the world's largest, consistently contributes a significant portion to the nation's GDP. As per SIAM India, by the close of fiscal year 2024, India produced over 993 thousand three-wheelers.
- Highlighting the significance of the automotive sector, the Indian government, through its Auto Mission Plan (AMP) 2016-2026, envisions tripling the passenger vehicle market to 9.4 million units by 2026, positioning it as a cornerstone of the 'Make in India' initiative.
- Emerging economies, with their ongoing infrastructure projects, are amplifying the industrial applications of cast elastomers. Demand for cast elastomers is further bolstered by growth in sectors like mining, oil & gas, and agriculture.
- According to India Brand Equity Foundation (IBEF), the Indian agricultural sector is on track to reach a valuation of USD 24 billion by 2025.
- Additionally, the Department for Promotion of Industry and Internal Trade (DPIIT) reports that from April 2000 to March 2024, India's food processing industry attracted a cumulative Foreign Direct Investment (FDI) equity inflow of approximately USD 12.58 billion.
- In China, data from the China Association of Automobile Manufacturers (CAAM) indicates that in February 2025, the country produced 2.103 million vehicles.
- In January 2025, the Ministry of Commerce (MOFCOM) unveiled new statistics on Belt and Road Initiative (BRI) engagements, revealing that Chinese enterprises poured about USD 29.5 billion into non-financial direct investments in BRI countries.
- Given these dynamics, the Asia-Pacific region is set for substantial growth in the cast elastomers market during the study period. The combination of industrial expansion, government initiatives, and sectoral growth positions the region as a key player in the global cast elastomers market.
Cast Elastomer Industry Overview
The cast elastomer market is partially fragmented in nature with only few major players dominating the market. Some of the major companies are BASF, Covestro AG, Huntsman International LLC, Era Polymers Pty Ltd, and LANXESS among others.
Cast Elastomer Market Leaders
-
Covestro AG
-
Huntsman International LLC
-
Era Polymers Pty Ltd
-
LANXESS
-
BASF
- *Disclaimer: Major Players sorted in no particular order
Cast Elastomer Market News
- March 2025: Huntsman International LLC collaborated with RÄDER-VOGEL to develop a new generation of polyurethane-based, anti-static PEVOTEC wheels. These wheels utilize Huntsman’s TECNOTHANE hot cast elastomers. These have been designed for use in industrial applications where the use of trolleys, carts, pulleys, and automatically guided vehicles (AGVs) is vital to the smooth running of operations.
- July 2024: Covestro launched portfolio in cast polyurethane, focusing on applications for rapidly growing industries in Asia Pacific, such as renewable energy, material handling and electric vehicles. For material handling applications, elastomer systems based on Vulkollan and Desmodur raw materials are used to enhance wheels for auto-guided vehicles and forklifts.
Cast Elastomer Industry Segmentation
A cast elastomer is a type of polymer material that combines the elasticity of rubber with the toughness and durability of plastics. These materials are created through a casting process, where liquid components are poured into molds and then allowed to cure. Cast elastomers are widely used in industries due to their excellent resistance to abrasion, impact, and wear.
The cast elastomer market is segmented into type, end-user industry, and geography. On the basis of type, the market is segmented into hot cast and cold cast. On the basis of end-user industry, the market is segmented into automotive, mining, industrial, transportation, oil and gas, and others. The report also covers the market size and forecasts for the market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD).
| Type | Hot Cast | ||
| Cold Cast | |||
| End-user Industry | Automotive | ||
| Mining | |||
| Industrial | |||
| Transportation | |||
| Oil and Gas | |||
| Others | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Malaysia | |||
| Thailand | |||
| Vietnam | |||
| Indonesia | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| Italy | |||
| France | |||
| Spain | |||
| NORDIC Countries | |||
| Turkey | |||
| Russia | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Colombia | |||
| Rest of South America | |||
| Middle-East and Africa | Saudi Arabia | ||
| Qatar | |||
| United Arab Emirates | |||
| Nigeria | |||
| Egypt | |||
| South Africa | |||
| Rest of Middle-East and Africa | |||
| Hot Cast |
| Cold Cast |
| Automotive |
| Mining |
| Industrial |
| Transportation |
| Oil and Gas |
| Others |
| Asia-Pacific | China |
| India | |
| Japan | |
| South Korea | |
| Malaysia | |
| Thailand | |
| Vietnam | |
| Indonesia | |
| Rest of Asia-Pacific | |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| Italy | |
| France | |
| Spain | |
| NORDIC Countries | |
| Turkey | |
| Russia | |
| Rest of Europe | |
| South America | Brazil |
| Argentina | |
| Colombia | |
| Rest of South America | |
| Middle-East and Africa | Saudi Arabia |
| Qatar | |
| United Arab Emirates | |
| Nigeria | |
| Egypt | |
| South Africa | |
| Rest of Middle-East and Africa |
Cast Elastomer Market Research FAQs
How big is the Cast Elastomer Market?
The Cast Elastomer Market size is expected to reach USD 1.51 billion in 2025 and grow at a CAGR of greater than 5% to reach USD 1.93 billion by 2030.
What is the current Cast Elastomer Market size?
In 2025, the Cast Elastomer Market size is expected to reach USD 1.51 billion.
Who are the key players in Cast Elastomer Market?
Covestro AG, Huntsman International LLC, Era Polymers Pty Ltd, LANXESS and BASF are the major companies operating in the Cast Elastomer Market.
Which is the fastest growing region in Cast Elastomer Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Cast Elastomer Market?
In 2025, the Asia Pacific accounts for the largest market share in Cast Elastomer Market.
What years does this Cast Elastomer Market cover, and what was the market size in 2024?
In 2024, the Cast Elastomer Market size was estimated at USD 1.43 billion. The report covers the Cast Elastomer Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Cast Elastomer Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Cast Elastomer Industry Report
Statistics for the 2025 Cast Elastomer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cast Elastomer analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
