Acrylic Elastomers Market is expected to register a CAGR of healthy rate in the forecast period 2019 to 2025. The new market report contains data for historic years the base year of calculate on is 2017 and the forecast period is 2019 to 2025.
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Market Major Players:
Some of the major players operating in the market are
- Zeon Corporation,
- NOK Corporation,
- BASF SE,
- Trelleborg AB,
- Kuraray Co., Ltd.,
- Der-Gom SRL,
- Changzhou Haiba Ltd.,
- Chengdu Dowhon Industrial Co., Ltd.,
- Seal & Design Inc.,
Acrylic Elastomers Market Segmentation:
- Global acrylic elastomers market are expected to reach USD 1,225.58 million by 2025 from USD 650.30 million in 2017 in the forecast period 2018 to 2025.
- Acrylic elastomers are used in various industries such as automotive, construction, industrial machinery, paints & coatings, adhesives & sealants, textiles and others.
- The global acrylic elastomers market is segmented on the application, end-user, and type. The report provides data for 2016 to 2025, 2017 being the current year while 2018 to 2025 is the forecast period for the report.
- Increased use of acrylic elastomers in automobile industry, advanced properties of acrylic elastomers as compared to conventional elastomers and increasing applications of acrylic elastomers in various industries has increased the growth of market. On the other hand fluctuating price of raw materials, high prices of AEM prompting OEMs to opt for thermoplastics and regulatory issues is hampering the growth of market.
- The global acrylic elastomers market is segmented based on type into two notable segments as acrylic ethylene elastomers (AEM) and acrylic co-monomer elastomers/polyacrylic (ACM). In 2018, ethylene acrylic elastomers market will dominate the market with 54.0% shares in the forecast period 2018 to 2025.
- The global acrylic elastomers market is segmented based on derivative type into four notable segments; ethyl acrylate, butyl acrylate, methyl acrylate and ethyhexyl acrylate. In 2018, ethyl acrylate market will dominate the market with 54.8% shares in the forecast period 2018 to 2025.
- The global acrylic elastomers market is segmented based on end-user into four notable segments; automotive, construction, industrial machinery, paints & coatings, adhesives & sealants, textiles and others. In 2018, automotive market will dominate the market with the highest market share.
- Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa.
Acrylic Elastomers Market Key Drivers:
Increased use of acrylic elastomers in automobile industry, advanced properties of acrylic elastomers as compared to conventional elastomers and increasing applications of acrylic elastomers in various industries has increased the growth of market.
On the other hand fluctuating price of raw materials, high prices of AEM prompting OEMs to opt for thermoplastics and regulatory issues is hampering the growth of market.
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Drivers: Global Acrylic Elastomers Market
INCREASED USE OF ACRYLIC ELASTOMERS IN AUTOMOBILE INDUSTRY:-
The acrylic elastomers are majorly used in various parts of automobile such as hoses, gaskets, O-rings, seals and various other components. The acrylic elastomers provide various properties such as longevity in powertrain, thermal and chemical resistance and resistance to service fluids, and can retain sealing properties under compression. These properties make them suitable to be used in automotive industry. Various key players are producing products which are used in automotive industry. For instance, DowDuPont (U.S.) manufactures acrylic elastomers under the brand name Vamac. This product has applications in places where heat and chemical resistance is of high importance. The product is engineered in such a way that is widely used in automotive components. The components such as engine and transmission seals made with the Vamac gives high resistance to fluids, and helps in retaining sealing properties. According to an article recently published by State of the U.S. Automotive Industry, companies such as FCA US, Ford, and General Motors have invested more than USD 35.00 billion in U.S. assembly, engine and transmission plants, R&D labs, headquarters, administrative offices, and in other infrastructure. The article also stated that auto sales in U.S. have increased by 67.0% since 2009 and was valued around USD 10.4 million in 2017. U.S. is one of the largest automotive markets in the world and according to an article published recently by International Trade Administration (ITA), around 17.1 million units of cars were sold in U.S in 2017. The country is world’s 2nd largest market for sales and production of vehicles.
The above mentioned factors show the increase in sales and production across the globe. The use of acrylic elastomers in various components such as hoses, gaskets, O-rings have also increased due to their superior thermal and chemical resistance to the products properties.
ADVANCED PROPERTIES OF ACRYLIC ELASTOMERS AS COMPARED TO CONVENTIONAL ELASTOMERS:-
The acrylic elastomers have advance properties as compared to conventional elastomers. These elastomers are used as an alternative to natural rubber. These materials are been expanded from thermoset rubber polymers which are used in the general rubber industry and also in chemical and automobile industries due to their high-performance. The conventional elastomers get influenced by various factors such as media compatibility, dynamic or static operation and seal design and various other factors. The conventional elastomers when get exposed to extreme limits can suffer loss of flexibility, which indirectly decreases the life of the sealing material. On the other hand, the acrylic elastomers have wide temperature and chemical range and do not break when they get stretched. These properties of the acrylic elastomers increases the usage in various industries such as automobile, paints &coatings, textile, which have also increased the growth of acrylic elastomers market.
INCREASING APPLICATIONS OF ACRYLIC ELASTOMERS IN VARIOUS INDUSTRIES:-
The acrylics elastomers are of two type acrylic co-monomer elastomers/polyacrylic (ACM) and ethylene acrylic elastomers (AEM). These elastomers have various properties such as resistance to high temperature, high resistance to chemicals and they are flexible in nature. Due to these properties the elastomers are used in various industries such as automobile, construction, paints and coating, textile and various other industries. In the automotive industry, the acrylic elastomers exhibit good resistance to heat and are majorly used in manufacturing of different components such as gasket, hoses and O-rings and other components. According to an article recently published by trading economics, in 2018 the sales of vehicles in China rose by 9.6 % and around 2.29 million units have been sold by the end of May 2018. In the construction industry, the elastomers are majorly used for wiring and cabling purpose as these elastomers are flexible in nature. According to an article recently published by U.S. census bureau, the total construction spending has increased by 6.5% as compared to the year 2015. The acrylic elastomers are widely used in paints & coating industries due to their flexibility over a wide range of temperature. The acrylic coatings provide waterproof coating. According to an article published by paint square, the paints and coatings market is expected to have an approximate value of USD 6.2 million by the end of 2018.
The above given data exhibits the increasing use of acrylic elastomers in various components for various applications. Therefore, increasing applications of acrylics elastomers in various industries is driving the growth of the market
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