Acrylic Based Elastomer Market To Witness Enhanced Growth Owing To Rising Demand From Chemical Industry Till 2022

Global Acrylic Based Elastomer Market is expected to grow at a significant CAGR in the estimated period. An elastomer is defined as the mechanical response and not by its chemical structure. Elastomers comprise a wide range of chemical structures since they are characterized as not having weak intermolecular forces. Elastomers in general offer characteristics such as high strain, high molar mass, linear strain, thermal stability and elastic response.

Acrylic based elastomers are a cluster of polymers with their use in automotive, construction, paints and coatings, textile, plastic composite, adhesives and sealants, etc. Acrylic elastomers offer excellent resistance to petroleum, engine oils, petroleum based lubricants and transmission fluids.

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Driving factors responsible for the growth of acrylic based elastomer market includes properties such as high thermal stability, chemical resistance, higher tensile strength, enhanced design flexibility and extensive use in a wide range of applications comprising medical, automotive, consumer goods and industrial.

Based on segmentation by End-user, the acrylic based elastomer market includes consumer goods, automotive, medical and industrial. Consumer goods segment dominate the global market scenario owing to extensive demand and use. Automotive segment is also expected to grow at a higher CAGR owing to diversified use of acrylic elastomers in various process of production.

Geographically, acrylic based elastomer market spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa.APAC market gains a positive traction in the estimated period owing to rise in commercial construction activities and production of acrylic paints. Moreover, the rise in demand for acrylic primer and paints in this region adds to the growth of acrylic latex market. North America and Europe market are also expected to grow at a higher CAGR in the forthcoming period owing to innovative concept for production of paints. Acrylic latex market for MEA regions also witness a higher CAGR growth in the forthcoming period due to the strategic merger and acquisition in the paint industry and also due to presence of big players in this region.

The key players in the acrylic based elastomer market include Pioneer Weston, DuPont, BASF SE, Arkema SA, Sinopec, Bayer AG, Evonik Industries, Arkema SA, ExxonMobil Corporation, Eastman Chemical Company, InTechOpen, DOW Chemical Company and Huntsman Corporation.

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