Pune, India, July 31, 2017, /MRFR Press Release/- Market Research Future published a Half-Cooked Research Report on Acrylic Based Elastomers Market.
Market Overview:
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 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.
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.
Market Segmentation:
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.
Regional Analysis
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. Following Asia Pacific, North America is the second largest market for acrylic based elastomers. U.S. is the major market and drives North American acrylic elastomers market. Emerging paints and coatings application of acrylic elastomers and significant growth in automobile industry have made U.S. most dynamic market in this region. 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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