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Acrylic Elastomers Market Size - By Type (Acrylic Co-Monomer Elastomer, Ethylene Acrylic Elastomers), By End-use Industry (Automotive, Construction, Industrial, Consumer Goods), By Application & Forecast, 2024 – 2032

  • Report ID: GMI8579
  • Published Date: Mar 2024
  • Report Format: PDF

Acrylic Elastomers Market Size

Acrylic Elastomers Market size was valued at USD 1.16 billion in 2023 and is anticipated to register a CAGR of over 8.3% between 2024 and 2032. Acrylic elastomers are in high demand due to their unique set of qualities, which include good heat and oil resistance, weatherability, and durability. These elastomers are extensively used in a variety of sectors, including automotive, construction, and industrial manufacture. Acrylic elastomers are highly valued in the automobile industry due to their ability to endure rigorous operating conditions, making them excellent for sealing and gasket applications in engines, gearboxes, and other important components.
 

Acrylic Elastomers Market

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Furthermore, the automobile industry's increased emphasis on lightweight materials drives up demand for acrylic elastomers, which have a low density and high strength-to-weight ratio. In the construction business, these elastomers are utilized in sealants, adhesives, and coatings to provide outstanding weatherproofing and protection from the elements. Furthermore, the growing industrial manufacturing industry relies on acrylic elastomers for applications that need chemical, abrasion, and temperature resistance, which drives demand for these flexible materials.
 

Fluctuating raw material prices are a key constraint to revenue growth in the acrylic elastomers market. Acrylic elastomers are made from a variety of raw materials, including acrylic monomers, crosslinking agents, and additives, and their costs are volatile due to supply-demand dynamics, geopolitical conflicts, and currency changes. Sudden increases in raw material costs might result in increased manufacturing charges for acrylic elastomer producers, affecting profit margins and pricing strategies. Furthermore, price variations may disrupt supply chains and procurement procedures, creating uncertainty for both manufacturers and buyers in the acrylic elastomers industry.
 

Acrylic Elastomers Market Trends

The acrylic elastomers industry is expanding rapidly due to its exceptional qualities such as good heat resistance, low-temperature flexibility, and resistance to oil and chemicals, which make them perfect for a variety of applications in the automotive, industrial, and construction industries. With the growing need for lightweight and fuel-efficient automobiles, acrylic elastomers are widely employed in automotive seals, gaskets, and hoses.
 

Furthermore, the increased emphasis on sustainability and environmental standards has encouraged the use of acrylic elastomers as alternatives to conventional elastomers due to their recyclability and low environmental effect. Furthermore, continuous improvements in polymer science and manufacturing technologies are likely to broaden the application spectrum of acrylic elastomers, fueling market expansion throughout the forecast period.
 

Acrylic Elastomers Market Analysis

Acrylic Elastomers Market Size, By Type, 2021 - 2032 (USD Billion)
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Based on type, the market is divided into Acrylic Co-Monomer Elastomer and Ethylene Acrylic Elastomers. The Acrylic Co-Monomer Elastomer segment dominated around USD 720 million revenue in 2023. Acrylic co-monomer elastomers are in high demand because of their flexibility and adaptability in a variety of applications. They are used in seals, gaskets, O-rings, hoses, and other important components that require high flexibility, thermal stability, and chemical resistance.
 

Acrylic co-monomer elastomers are particularly useful in the automobile industry for sealing systems, engine mounts, and vibration dampening components because of their ability to tolerate extreme operating conditions and prolonged exposure to automotive fluids and fuels. Furthermore, the increased emphasis on lightweighting in car design, along with strict fuel efficiency and emissions requirements, is driving up demand for acrylic co-monomer elastomers.
 

 Acrylic Elastomers Market Revenue Share, By End-use Industry, (2023)
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Based on end-use industry, the acrylic elastomers market is categorized into automotive, construction, industrial, consumer goods, and others. The automotive end use industry accounted for 45.3% of the market share in 2023. Acrylic elastomers are widely used in automobile components such as gaskets, seals, O-rings, hoses, and vibration dampeners because of their great resistance to heat, oil, and chemicals, as well as their superior mechanical qualities.
 

As automakers work to fulfill strict pollution rules and improve fuel efficiency, there is an increasing demand for high-performance sealing systems that can survive tough operating conditions. Acrylic elastomers provide a perfect mix of qualities, including flexibility, durability, and resistance to automotive fluids, making them important for sealing applications in engines, gearboxes, drivetrains, and other critical automotive systems. Furthermore, the growing emphasis on electric and hybrid cars boosts demand for acrylic elastomers, as these vehicles require improved sealing solutions to preserve operating efficiency and dependability.
 

Based on application, the acrylic elastomers market is categorized into seals and gaskets, hoses and belts, roofing membranes, sealants, coatings and linings, wire and cable insulation, and others. The seals and gasket segment is expected to grow substantially through 2032. Seals and gaskets are critical components in a variety of industries, including industrial, automotive, aerospace, and oil and gas. They provide leak-proof and secure operations, avoiding fluid or gas leakage, reducing downtime, and increasing operating efficiency.
 

Acrylic elastomers in seals and gaskets are in high demand because to their extraordinary qualities, which include good resistance to heat, oils, chemicals, and weathering, as well as their ability to maintain flexibility and durability throughout a wide temperature range.
 

APAC Acrylic Elastomers Market Revenue, 2021 - 2032 (USD Million)
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Asia Pacific acrylic elastomers market generated a revenue of USD 470 million in 2023. Rapid urbanization, rising disposable incomes, and increased infrastructure development in countries such as China, India, and Southeast Asia are driving up demand for acrylic elastomers. These elastomers are preferred for their superior weatherability, heat resilience, and chemical inertness, making them perfect for a variety of applications including automobile seals, gaskets, and industrial coatings. Furthermore, the increased emphasis on lightweight and fuel-efficient automobiles is driving up the use of acrylic elastomers in automotive production, adding to overall market development in the Asia Pacific region.
 

Acrylic Elastomers Market Share

Global Acrylic Elastomers Company Market Share, (2023)

The competitive landscape of the acrylic elastomers industry, featuring major players such as BASF SE, Zeon Corporation, NOK Corporation, Trelleborg AB, and DuPont reflects a moderately concentrated market with notable initiatives driving competition. While these companies contribute significantly to the industry's dynamics, there is still a degree of fragmentation with diverse product offerings and market shares.
 

Competitive approaches among these key players encompass a mix of pricing strategies, distribution network strength, and continuous product innovation. Pricing remains a crucial aspect, with companies strategically positioning their acrylic elastomers products to attract a broad customer base. Distribution channels play a vital role, particularly for global players like BASF SE, Zeon Corporation, and NOK Corporation leveraging extensive networks to ensure widespread availability of their products.
 

Major companies have undertaken key initiatives to stay competitive. For instance, In Feb 2020, Denka Corp., a Japanese rubber manufacturer, introduced a new grade of acrylic elastomer that is highly heat and grease resistant, making it ideal for automotive applications. The new Denka ER grade is designed for use in automotive hoses and gaskets and can withstand temperatures of up to 190° C.
 

Acrylic Elastomers Market Companies

Major companies operating in the acrylic elastomers industry include:

  • Arkema S.A.
  • BASF SE
  • Der-Gom SRL
  • DowDuPont Inc.
  • Denka Corp.
  • Hitachi Chemical Co.Ltd
  • Mitsubishi Chemical Holdings Corporation
  • Momentive Specialty Chemicals Inc.
  • Nippon Shokubai Co. Ltd.
  • NOK Corporation
  • Zeon Corporation
     

Acrylic Elastomers Industry News

  • In 2023, Arkema introduced "Kynar VT-2," a new acrylic elastomer that performs exceptionally at high temperatures and adverse chemical conditions. Kynar VT-2 is designed for demanding industrial applications such as aerospace, oil and gas, and chemical processing.
     
  • In 2022, Dow Chemicals launched "Acrypren X," a groundbreaking acrylic elastomer compound designed for automotive sealing and gasket applications. Acrypren X has increased durability and low-temperature flexibility, making it suitable for use in a variety of automotive components, including O-rings, hoses, and gaskets.
     

The acrylic elastomers market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Billion) (Kilo Tons) from 2018 to 2032, for the following segments:

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Market, By Type

  • Acrylic Co-Monomer Elastomer
  • Ethylene Acrylic Elastomers

Market, By End-use Industry

  • Automotive
  • Construction
  • Industrial
  • Consumer Goods
  • Others

Market, By Application

  • Seals and Gaskets
  • Hoses and Belts
  • Roofing Membranes
  • Sealants
  • Coatings and Linings
  • Wire and Cable Insulation
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada 
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
  • South Korea
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of acrylic elastomers reached USD 1.16 billion in 2023 and is set to witness 8.3% CAGR from 2024 to 2032, due to their unique set of qualities, which include good heat and oil resistance, weatherability, and durability.
Acrylic Co-Monomer Elastomer segment was worth USD 720 million in 2023, because of their flexibility and adaptability, favoring usage in seals, gaskets, O-rings, hoses, and other important components in automotive and other sectors.
Asia Pacific market generated a revenue of USD 470 million in 2023, backed by the rapid urbanization, rising disposable incomes, and increased infrastructure development in countries such as China, India, and Southeast Asia.
Arkema S.A., BASF SE, Der-Gom SRL, DowDuPont Inc., Denka Corp., Hitachi Chemical Co. Ltd., Mitsubishi Chemical Holdings Corporation, Momentive Specialty Chemicals Inc., Nippon Shokubai Co. Ltd., NOK Corporation, and Zeon Corporation.

Acrylic Elastomers Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 11
  • Tables & Figures: 250
  • Countries covered: 22
  • Pages: 300
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