Acrylic based elastomers are a group of polymers who find their application in automotive, paint & coatings, construction, industrial, textile, plastic composite, adhesives & sealants, paper & paperboard and other. Among all, these elastomers are largely used for automotive applications, due to flourishing automotive industry especially in Asia Pacific and Europe. This trend likely to continue during the forecasted period by largely contributing in the dominance of Asia Pacific. However, rising cost of production is emerged as key restraining factor inhibiting global market growth
Key Players Profiles and Competitive Analysis:
Key players of the global Acrylic based elastomers are DuPont (U.S.), BASF SE (Germany), Dow Chemical Company (U.S.), H.B. fuller(U.S.), Eastman chemical Company (U.S.), ExxonMobil Corporation (U.S.), ARKEMA Innovative chemistry (France), and others.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
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Global Acrylic based elastomers market is segmented on the basis of forms, end use industry and by regions. Based on forms market is segmented into polyacrylates and ethylene acrylate. Polyacrylates are highly consumed acrylic based elastomers followed by ethylene acrylates. Moreover, polyacrylates are largely used in automotive industry, as it offers good resistant to lubricating oil and high temperature. More importantly, polyacrylates show excellent resistance to engine oils, petroleum based lubricants, transmission fluids, and aliphatic hydrocarbons which makes them highly usable as compared to other. On the other hand, Ethylene acrylates are terpolymer of ethylene, acrylic and cure site polymer which exhibit similar properties to polyacrylates. Although, they can operate over wider temperature range.
On the basis of application, acrylic based elastomer market is segmented into automotive, paint and coatings, construction, industrial, textile, plastic composite, adhesives & sealants, paper & paperboard and other. Automotive application is the dominant segment followed by paints & coatings and plastic composites. Acrylic based elastomers exhibit properties including excellent resistance to engine oils, petroleum based lubricants, transmission fluids, and aliphatic hydrocarbons, due to which they are largely used in automotive industry. Construction application for these elastomers anticipated emerging at fastest growth rate over the forecasted period. This is due to growing residential and non-residential construction activities across the globe.
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North America Region is Expected to Dominate the Market:
The North American region is expected to dominate the market for Acrylic Based Elastomerss. This is majorly due to the fact that, increased number of onshore drilling activities are carried out for shale gas extraction. With advancements in drilling technologies such as horizontal drilling many companies are involved in drilling on onshore sites to produce cheap oil. Acrylic Based Elastomerss help in data logging of these drilling activities and real time information transfer that can further ensure the safety of operations. Also, deep water oil exploration activities are carried out in the Gulf of Mexico region to enhance oil productivity and Acrylic Based Elastomerss are extremely useful for data logging of operations in such harsh conditions.
As of 2016, Asia Pacific was the largest Acrylic based Elastomers market both in terms of value and volume. The region occupied majority market shares of more than 50%. This can be credible to presence of large automotive base, growing construction activities, and economic development in this region. Moreover, China and India collectively lead the Asia Pacific acrylic based elastomers market. This is due to largest automobile manufacturing base in both of these countries. Over the past few years, construction industry has been grown rapidly in Asia Pacific region, due to which acrylic elastomers market is expected to have good gains in the years to come. On the other hand, Europe stands third in global market including major markets UK, Germany, and the Netherland. Leading players including BASF SE and Arkema SA are from this region, who have driven regional demand for acrylic based elastomers up to some extent.
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