PUNE, India, June 26, 2018 /PRNewswire/ --
The report "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", published by MarketsandMarkets™, the Acrylic Elastomers Market is projected to grow from USD 648.2 million in 2017 to USD 983.9 million by 2022, at a CAGR of 8.7% during the forecast period. The growth of the Acrylic Elastomers Market can be attributed to the rising demand for automobiles across the globe. Acrylic elastomers are used in the development of industrial seals, gaskets, and molded goods.
Browse 72 market data Tables and 37 Figures spread through 108 Pages and in-depth TOC on "Acrylic Elastomers Market"
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The automotive end-use industry segment is projected to lead the Acrylic Elastomers Market during the forecast period.
The automotive end-use industry segment accounted for the largest share of the Acrylic Elastomers Market in 2017. The growth of the automotive end-use industry segment can be attributed to the increasing use of acrylic elastomers to manufacture under-the-hood automotive rubber components, such as O-rings, seals, gaskets, and hoses. Acrylic elastomers are increasingly used in the automotive industry due to its affordable cost and excellent heat and oil resistance properties.
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The ACM is the largest and the fastest-growing type segment of the Acrylic Elastomers Market.
The ACM type segment of the Acrylic Elastomers Market is projected to grow at a high CAGR between 2017 and 2022. The growth of the ACM segment can be attributed to its low-cost as compared to AEM and its high demand in the Asia Pacific region.
APAC is the fastest-growing regional segment of the Acrylic Elastomers Market.
The APAC region is the fastest-growing market for acrylic elastomers. The growth of the APAC Acrylic Elastomers Market can be attributed to the increased production of automobiles in countries, such as India, China, and Indonesia. Additionally, the increasing use of acrylic elastomers to manufacture under-the-hood automotive components is expected to drive the growth of the APAC Acrylic Elastomers Market during the forecast period.
Most active players in the Acrylic Elastomers Market:
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) are leading players operating in the Acrylic Elastomers Market.
This research report categorizes the Acrylic Elastomers Market based on type, end-use industry, and region. Based on type, the Acrylic Elastomers Market has been segmented into ACM and AEM. Based on end-use industry, the market has been segmented into automotive, construction, industrial, and others. Based on region, the Acrylic Elastomers Market has been segmented into North America, APAC, Europe, and RoW.
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