Global acrylic based elastomers market is growing rapidly, mainly due to the presence of many strong players. Acrylic-based polymers are plastics used for a type of synthetic rubber with Acrylic Acid Alkyl Ester being the main component. Moreover, the heat and oil resistance characteristics of these elastomers act as a major factor driving their usages across industries.
Huge applications of acrylic-based elastomers industry in various burgeoning industries including automotive, paint coatings, construction, textile, industrial, plastic composite, adhesives sealants, and paper paperboard foster the market demand excellently. According to Market Research Future (MRFR), the global acrylic based elastomers market is estimated to garner significant traction by 2030, registering a decent CAGR throughout the review period (2022-2030).
The automotive industry is the largest end-user of acrylic-based elastomers. Owing to their properties, such as high thermal stability, higher chemical resistant tensile strength, low shrinkage, and greater design flexibility, acrylic-based elastomers are highly preferred in end-use industries. This is considered as major market drivers. Furthermore, increasing consumption of these elastomers in paint coating applications and paints have raised the market demand significantly.
The construction activities around the world are driving the demand for acrylic-based elastomers. Growing demand for durable and impact-resistant materials in automotive and electronic applications is a key driver for the growth of the acrylic based elastomers market. On the other hand, strong competition from green or biodegradable elastomers is hampering the growth of the market.
However, acrylic-based elastomers are more cost-effective, which is projected to increase the uses of these materials during the forecast period. Also, the high cost of raw material, which increases the overall production cost of acrylic-based elastomers, acts as a growth impeding factor for the market. Nevertheless, rising infrastructure projects worldwide would support the growth of the acrylic based elastomers market during the anticipated period.
Global Acrylic Based Elastomers Market – Segmentation
The report is segmented into three dynamics.
By Form : Polyacrylates and Ethylene Acrylates.
By End Use : Automotive, Paint Coatings, Industrial, Construction, Textile, Plastic Composite, Paper Paperboard, Adhesives Sealants, and others.
By Regions : North America, Europe, APAC and Rest of the World.
Global Acrylic Based Elastomers Market – Regional Analysis
Asia Pacific leads the global acrylic based elastomers market. The market growth attributes to the large numbers of automotive bases and construction projects in the region. Besides, the rapid economic development in this region fosters the growth of the acrylic based elastomers market. China,, with its largest automobile manufacturing significantly contributes to regional market growth, followed by India. The APAC acrylic based elastomers market is estimated to retain its dominance throughout the review period.
North America stands second in the global acrylic based elastomers market, following the APAC market closely. Factors such as the growth in the automobile industry and rising paints coatings applications are fostering the regional market growth excellently. US and Mexico, with the increasing application of acrylic elastomers, collectively drive the North American market. The acrylic based elastomers market in North America is projected to create a substantial revenue pocket over the assessment period.
Europe is another substantial market in the global acrylic based elastomers market. Major share of the market demand is pulled by the automobile industry for making interiors of luxury cars. Also, growing building construction activities and rising production in the automotive industry push the growth of the regional acrylic based elastomers market.
The region has undertaken many infrastructural development projects, which is anticipated to propel the demand for acrylic based elastomers in this region. The constant rise of both the construction and automotive industry in this region is projected to continue fetching the major share of the European acrylic based elastomers market.
Global Acrylic Based Elastomers Market – Competitive Analysis
Highly competitive, the acrylic based elastomers market appears diversified with the presence of several well-established players. To gain a larger competitive share of the market, innovation, mergers acquisitions, and brand reinforcement remain the key trends for these players.
Major Players:
Players leading the global acrylic based elastomers market are BASF SE (Germany), DuPont (US), Dow Chemical Company (US), Eastman Chemical Company (US), H.B. Fuller (US), ExxonMobil Corporation (US), and ARKEMA (France), among others.
Industry/ Innovation/ Related News:
November 01, 2019 —- United Soft Plastics Inc. (the US – USP), a highly innovative manufacturing company, announced opening a new TPE manufacturing plant in Houston in response to demand for its thermoplastic elastomers (TPE) products. USP is engaged in the development of quality SEBS (TPE-S) compound solutions. The new TPE manufacturing plant is a 20,000-sq.ft. production facility, which complements its existing facility in Georgia, US. New plant expands USP’s production of its portfolio of thermoplastic elastomers, including SEBS-based TPO, TPE, TPU, and special products such as acrylic based TPE compounds.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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