Acrylic Based Elastomers Market – Competitive Analysis
The global market of acrylic based elastomers is a lucrative market is expected to expand at an encouraging CAGR during the forecast years. The major strategies adopted by key players are expansion, collaborations or partnerships and product launch. In order to meet regulations, set by various bodies of respective regions, manufacturer is entering into agreement with raw material supplier to maintain profit across the value chain. In highly competitive market, companies are investing more in innovations and brand building thereby, fostering the strong relationship with customer. On other hand, major players are carrying out research & development activities to improve the properties of acrylic based elastomers.
DowDuPont Inc. (U.S.), BASF SE (Germany), H.B. Fuller (U.S.), Eastman Chemical Company (U.S.), ExxonMobil Corporation (U.S.), ARKEMA (France), ERIKS UK. (England), Hoffmann GmbH(Germany), Safic-Alcan Deutschland GmbH (Germany), UNIMATEC CO. LTD (Japan) are some of the prominent players at the forefront of competition in the global acrylic based elastomers market and are profiled in MRFR Analysis.
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Acrylic Based Elastomers Market – Market Overview
Acrylic based elastomers are segmented based on forms into polyacrylates and ethylene acrylate. Polyacrylates hold the major market share under the form category due to strong demand from automotive industry and is expected to continue growth during the forecast period. Amongst the different end-use industry, automotive industry accounted for the largest consumption followed by paints & coatings and plastic & composites in 2017 owing to the wide application of acrylic elastomers and superior properties such as excellent resistance to engine oils, petroleum based lubricants, transmission fluids, and aliphatic hydrocarbons. Construction industry is expected to show the fastest growth over the forecast period due to growing residential and non-residential construction activities across the globe.
Acrylic based elastomers are the polymers containing acrylic acid alkyl ester. These elastomers possess excellent resistance to heat and oil. Methods used for the preparation of elastomers are emulsion and suspension polymerization. Acrylic based elastomers find wide applications in end-use industries such as automotive, paint & coatings, plastic & composite, adhesives & sealants, construction, industrial, textile, paper & paperboard and other. However, high production cost is likely to hamper the market growth during the forecast period.
Asia Pacific accounted to be the largest market of the global acrylic based elastomers in 2016 both in terms of value and volume due to growing economy and strong demand from automotive and construction industry and is expected to continue growth during the forecast period. North America emerged as second largest market for acrylic based elastomers in 2016 due to high demand of paints and coatings from the construction industry and is expected to witness significant growth during the forecast period. Europe is another major market of the acrylic based elastomers on account of huge demand from the regional automotive industry and is expected to ensure steady revenue source to the acrylic based elastomer market during the forecast period. Furthermore, the Middle East & Africa and Latin America is expected to register a progressive growth over the forecast due to growing industrial infrastructure and constructional projects across these regions.
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Industry/ Innovation/ Related News:
July 2017- Arkema announced to expand its bio-based thermoplastic elastomers (TPEs) production to double its original capacity with investment of €300 million over the next five years. The expansion is focused on Arkema’s amino 11-based Pebax RNew TPEs.
July 2017- Dow Elastomers announced to expands its products and facilities with three new Nordel products and two new production facilities. According to company experts, the new extra-fast-cure (XFC) Nordel grades will enable auto parts manufacturers and brand owners to make higher-performing weatherstrip parts along with satisfying consumer demand for lighter weight, safety and aesthetics. The new grades are Nordel 6555 OE for manufacturing of sponge weatherstrip ,Nordel 6565 XFC EPDM for manufacturing of dense/microdense weatherstrip, and Nordel 6530 XFC for manufacturing of corner injection molds. The Nordel XFC grades are extremely high-quality, low-gel polymers that provide the optimum balance of surface sealing, part strength and improved elastic and compressive properties. With the new XFC grades and advanced molecular catalyst technology, Dow now has as broad a portfolio as possible, serving multiple markets across the globe. According to company experts, the XFC grades is likely to deliver high-end surface finish by providing overall improvement in surface quality; Meet requirements to dampen vibrations, isolate road noise and prevent wear, improve fuel efficiency by reducing weatherstrip weight by up to 15 percent.
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