Acrylic Based Elastomers Market Size, Landscape, Industry Analysis, Business Outlook, Current and Future Growth By 2030
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.
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Key
Players
The key players in the global acrylic
based elastomers Arkema (France), BASF SE (Germany), Dow Chemical Company
(USA), DuPont (USA), Eastman Chemical Company (USA), ExxonMobil Corporation
(USA), and H.B. Fuller (USA).
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.
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.
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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.
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