The Global Acrylic Elastomer Market will see good growth during the coming years
The recent study titled “Global Acrylic Elastomer Market – Forecasts from 2019 to 2024”, covers an in-depth analysis of the market on the basis of type, application, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2019-2024. The report has segmented the acrylic elastomer market by type (Polyacrylate Rubber (ACM), Ethylene Acrylate Copolymer (AEM)), application (automotive hoses and connectors, automatic transmission, Seals, O-rings, and gasket, adhesive formulation), and geography (North America, South America, Europe, Middle East and Africa, Asia Pacific). The acrylic elastomer is a synthetic rubber whose main component is acrylic acid alkylester that consists of superior thermal and chemical resistance. It is widely used for automotive components. Better longevity in powertrain applications and air management systems and long-term durability in other environments with diverse chemical exposure over a broad temperature range are the major driving factors that are boosting the demand for acrylic elastomers in designing automotive components. Rising pressure to meet escalating fuel economy and emission regulations are encouraging auto manufacturers to develop new generation engines that are lighter, cleaner and high performing which is driving the acrylic elastomer market growth. The global acrylic elastomer market is expected to show decent growth over the forecast period on account of the growing automotive sector in major countries such as Germany, China, etc.
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AEM holds a significant share in the market
Ethylene acrylic elastomer (AEM) holds a significant share in the market owing to its widespread use in automotive applications due to its ability to operate over a wide temperature range than ACM and hydrogenated nitriles.
Automotive hoses and connectors hold a significant share in the market
Automotive hoses and connectors hold a significant share in the market as they widely utilize acrylic elastomer so as to provide the ideal temperature profiles and chemical resistant properties for automotive hoses. With an increased propensity towards greater fuel economy, higher efficiency and lower carbon dioxide emission, the demand for the powerful engine is expected to augment the turbocharger hoses which in turn are expected to boost the demand for acrylic elastomers.
Asia Pacific is expected to grow at a good CAGR over the forecast period.
The Asia Pacific acrylic elastomer market is expected to grow at a good rate over the forecast period on account of growing automobile production in countries such as China, India. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total production of cars and commercial vehicles has increased from 28,118,794 in 2016 to 29,015,434 in 2017. Burgeoning trend of manufacturing fuel efficient and light-weight vehicles is expected to boost the acrylic elastomer market growth.
Some of the major players discussed in the reports are DowDuPont, ZEON CORPORATION, NOK CORPORATION, KURARAY Co., LTD., DER-GOM SRL, and Changzhou Haiba Ltd.
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