Acrylic Elastomers Market Share Size, Global Snapshot Analysis and Growth Opportunities by 2026
Acrylic elastomers is a type of synthetic rubber. These elastomers are acrylic acid based polymers with acrylic acid alkyl ester as the primary component. Major characteristics of Acrylic elastomers include heat resistance and oil resistance. It can endure a temperature of 170?–180? under dry heat or in oil. Acrylic elastomers also possesses good weather ability and ozone resistance. Emulsion and suspension polymerization are the two methods used in the manufacture of elastomers. Initially Acrylic elastomers were homopolymers, either ethyl acrylate or methyl acrylate. These were primarily used for vulcanized applications. Acrylic elastomers is largely used for oil seals and packaging related to automobiles.
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Acrylic Elastomers Market: Segmentation Overview
In terms of type, the acrylic elastomers market can be primarily bifurcated into acrylic co-monomer elastomer (ACM) and Ethylene Acrylic Elastomers (AEM). ACM is the major segment of the market. It is also the fastest growing segment of the acrylic elastomers market. Low cost vis-à-vis AEM and high demand in Asia Pacific is boosting the acrylic elastomers market. Based on end-use industry, the acrylic elastomers market can be divided into automotive, construction, industrial, and others. The automotive segment accounted for major share of the acrylic elastomers market in 2017. Increase in usage of Acrylic elastomers to manufacture under-the-hood automotive rubber components, such as O-rings, seals, gaskets, and hoses, is expected to fuel the Acrylic elastomers market during the forecast period.
Acrylic Elastomers Market: Overview
Advanced properties of Acrylic elastomers vis-à-vis the conventional elastomers and increase in usage of acrylic elastomers in turbocharged engines are the major factors boosting the Acrylic Elastomers market. Acrylic elastomers possess high thermal stability, chemical resistance, and tensile strength; low shrinkage; and greater design flexibility. Therefore, they are preferred in various end-use industries. High prices of AEM are prompting OEMs to opt for thermoplastics. This is a key challenge facing the acrylic elastomers market. Significant investment in the automotive industry in Asia Pacific and Latin America is offering lucrative opportunities to the acrylic elastomers market. Rise in demand for electric vehicles in China is a major factor restraining the acrylic elastomers market in Asia Pacific. High cost of raw materials and increase in cost of production are likely to adversely affect the global acrylic elastomers market in the near future.
Acrylic Elastomers Market: Regional Outlook
Based on region, the Acrylic Elastomers market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is a rapidly growing region of the Acrylic Elastomers market in terms of value and volume, led by the increase in production of automobiles in countries such as India, China, and Indonesia. Rise in usage of acrylic elastomers to manufacture under-the-hood automotive components is expected to drive the acrylic elastomers market in Asia Pacific during the forecast period. North America is also a key region of the acrylic elastomers market. Growth in the automobile industry and expansion in application of paints and coatings in the region are propelling the demand for acrylic elastomers. The market in the U.S. and Mexico has been expanding owing to the increase in application of acrylic elastomers in the countries. The market in Europe has been expanding substantially owing to the presence of major players in the region.
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Acrylic Elastomers Market: Key Players
Key players operating in the global acrylic elastomers market are BASF SE, DowDuPont, The Dow Chemical Company, Zeon Corporation, NOK CORPORATION, Trelleborg AB, DER-GOM, Denka Company Limited, CHENGDU DOWHON INDUSTRY CO., LTD, and Kuraray Co., Ltd.
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