Acrylic Elastomers are the Acrylic Acid Based Polymers, commonly known as plastics. Market Research Future (MRFR) has published a research report about the Global Acrylic Based Elastomers Market that anticipates advancement for this market between 2016 and 2023. Analyzing the market structure, this report evaluates the future growth potential of the market. It analyzes the strategies of the key players in the market and follows the competitive developments such as current government regulatory requirements, joint ventures, new product developments, mergers and acquisitions, patents & technologies, research and developments (R & D) in the market.
The Global Acrylic Based Elastomers Market is growing primarily due to the qualities of these elastomers. They have greater design flexibility, higher chemical resistance, high thermal stability, low shrinkage, and tensile strength. That is why their preference is increasing in end-use industries. Their demand is growing because of their increasing coatings and paints application.
The Global Acrylic Based Elastomers Market has been segmented on the basis of End Use, Form and Region. By End Use, this market has been segmented into adhesives & sealants, automotive, construction, industrial, paint & coatings, paper & paperboard, plastic composite, textile, and other. The form-based segmentation of the market segments it into ethylene acrylate and polyacrylates.
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The regional segmentation of the Global Acrylic Based Elastomers segments this global market into the regional markets namely North America, Asia Pacific, Europe, Latin America, and Middle East & Africa (MEA). The Asia Pacific is the largest regional market for Acrylic Based Elastomers. This is due to the large automotive base, economic development, and growing construction projects, in this region. Due to the largest automobile manufacturing base in this region, China is the major contributor in this region followed by India. Also, due to growing construction activities across the region, the regional demand for Acrylic-Based Elastomers increases.
North America emerged as a second largest market, and during the forecast period, it is expected to retain its spot due to growth in the automobile industry. The emerging paints and coatings applications in this region have increased the demand for Acrylic Based Elastomers. The United States of America (USA) and Mexico collectively drive the North American market because, in these countries, the application of Acrylic Elastomers is increasing. In Texas, DowDuPont Inc. is set to spend around $100 mn in the next two years to expand production of specialty plastic materials at its site in Orange, Texas. This investment aims to meet growing demand from the packaging and transportation markets. The firm’s Sabine River Works plant in Orange employs 900 people. DuPont opened this plant in 1946. Products impacted by the expansion include Fusabond-brand recycling modifiers, Nucrel-brand ethylene acid copolymers, Surlyn-brand ionomer, Vamac-brand ethylene acrylic elastomers.
Europe is the third largest market because many key players of the industry are based in Europe. The strongest economies in Europe that have the potential to be the ideal market for Acrylic Based Elastomers are France, Germany, and the United Kingdom (UK). Latin America is not as big market as North America due to lack of technological advancement and lower per capita income, but it is a significant market. The strongest economies in Latin America are Argentina and Brazil which have the potential to be suitable markets. In the MEA region, the market is limited. The common factors stunting the market growth in this region are lack of awareness, lack of education, lack of technological development, and political instability.
Top Leading Key Players
The key players in the Global Acrylic Based Elastomers Market are Arkema (France), BASF SE (Germany), Dow Chemical Company (USA), DuPont (USA), Eastman Chemical Company (USA), ExxonMobil Corporation (USA), and H.B. Fuller (USA).
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