Acrylic Elastomers Market likely to reach beyond 983.9 Million USD by 2022 at a CAGR of 8.7%
[108 Pages Report] Acrylic Elastomers Market was valued at USD 608.0 million in 2016 and is projected to reach USD 983.9 million by 2022, at a CAGR of 8.7% during the forecast period. The base year considered for the study on the acrylic elastomers market is 2016 and the forecast period considered is between 2017 and 2022.
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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.
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.
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.
Key players operating in the acrylic elastomers market include BASF SE (Germany), DowDuPont (US), Zeon Corporation (Japan), NOK Corporation (Japan), and Trelleborg AB (Sweden).
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