Acrylic Elastomers Market by Type (Acrylic Co-monomer Elastomer/ACM & Ethylene Acrylic Elastomers/AEM), End-Use Industry (Automotive, Construction, Industrial), and Region (North America, APAC, Europe, and Rest of the World) - Global Forecast to 2022
“Advanced properties of acrylic elastomers as compared to conventional elastomers are driving the growth of the acrylic elastomers market across the globe.”
The acrylic elastomers market is estimated to be USD 648.2 million in 2017 and is projected to reach USD 983.9 million by 2022, at a CAGR of 8.7% from 2017 to 2022. Acrylic elastomers are used in various industries, such as automotive, construction, industrial, and others. The growth of the acrylic elastomers market can be attributed to the superior properties of acrylic elastomers as compared to conventional elastomers, such as NBR, FKM, and EVA. Acrylic elastomers are widely used for under-the-hood automotive applications, such as O-rings, hoses, seals, and gaskets. They are also used for wire & cable insulation. Acrylic elastomers are affordable and exhibit good characteristics due to which they are increasingly demanded by the automotive industry. However, the rising demand for Electric Vehicles (EV) is acting as a restraint to the growth of the acrylic elastomers market.
“The automotive end-use industry segment is projected to grow at the highest CAGR during the forecast period.”
The automotive end-use industry segment is projected to grow at the highest CAGR between 2017 and 2022, owing to the increased production of automobiles worldwide. The rising demand for automobiles across the globe has propelled several automobile producers to expand their manufacturing plants. Over the past 5 years, the automobile production in APAC has increased significantly, especially in China and India. Automobile producers in the APAC region are expanding their manufacturing capacities to cater to the rising demand for automobiles.
“APAC is the largest market for acrylic elastomers.”
APAC accounted for the largest share of the acrylic elastomers market in 2017, owing to the increased production of automobiles in this region. Increase in automobile production in APAC is primarily driven by the presence of leading automotive OEMs in this region. The increasing use of acrylic elastomers to manufacture O-rings, seals, gaskets, and hoses is one of the most significant factors projected to drive the growth of the acrylic elastomers market in the APAC region.
The affordable cost of acrylic elastomers and its superior properties such as excellent heat and oil resistance have increased the applicability of acrylic elastomers in the automotive industry. Acrylic elastomers have been gradually replacing various other elastomers, such as nitrile rubber and fluorocarbon rubber.
Extensive primary interviews have been conducted in the process of determining and verifying sizes of several segments and subsegments of the acrylic elastomers market, gathered through secondary research.
The break-up of primary interviews has been given below.
By Company Type: Tier 1 - 38%, Tier 2 - 56%, and Tier 3 - 6%
By Designation: C Level - 60%, Director Level - 30%, and Others - 10%
By Region: North America - 20%, Europe - 30%, Asia Pacific - 40%, and RoW -- 10%
Key companies profiled in this report on the acrylic elastomers market include BASF SE (Germany), DowDuPont (US), Zeon Corporation (Japan), NOK Corporation (Japan), Trelleborg AB (Sweden), DER-GOM (Italy), Chengdu Dowhon Industry Co., Ltd. (China), Denka Company Ltd. (Japan), and Kuraray Co. Ltd. (Japan).
The acrylic elastomers market has been segmented based on type, end-use industry, and region. This report covers the acrylic elastomers market and forecasts its market size till 2022. It also provides detailed information on company profiles and competitive strategies adopted by key players to strengthen their position in the acrylic elastomers market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the acrylic elastomers market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the acrylic elastomers market and provide information on key market drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an improved understanding of the competitive landscape of the acrylic elastomers market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on new product launches, mergers, expansions, partnerships, acquisitions, and joint ventures.