Acrylic Rubber Market Size Forecast to Reach $1.30 Billion by 2025
Acrylic Rubber Market size is forecast to reach $1.30 billion by 2025, after growing at a CAGR of 8.6% during 2020-2025. Acrylic rubbers (ACM) are unsaturated polar rubbers that are portrayed with generally excellent growing resistance in non-polar oils and furthermore in oils containing sulfur substances. In light of the reality they don't have unsaturated bonds in polymer spine. Accordingly, they have good heat, oxygen and ozone resistance. With an increase in production of automotive coupled with the need for long lasting products, there is an increase in the demand for acrylic rubber. With the increasing need for low fuel consumption and increase in the combustion temperature in the engine compartment, the market for acrylic rubber is expected to grow. The companies are adopting various strategies and investing a lot in R&D to develop technical advancement in acrylic rubber. However, the pandemic has turned to be the biggest challenge for the market in 2020.
Acrylic Rubber Market Segment Analysis - By Sources
Ethyl Acrylate (EA) held the largest share in the Acrylic Rubber Market in 2019. This growth is mainly attributed to the increasing demand for rubber in varied applications such as coating, textiles, seals & gaskets, adhesives, plastics, engine Oils and lubricants, piping, and others. Due to their superior properties, such as good heat, oxygen and ozone resistance, ethyl acrylate rubbers are increasingly favored over other types of rubber. Ethyl acrylate rubbers are usually produced by radical emulsion polymerization, the molar mass being adjusted by the amount of polymerization initiator added. The properties of acrylic rubber are influenced by the chemical structure of the ester groups and the constitution of the comonomers.
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Acrylic Rubber Market Segment Analysis - By Grade
Injection Moulding grades are domination the Acrylic Rubber market in 2019. It is a very simplified process which do not involve mixing or vulcanization. It is very cost effective. It consists of the automated closed loop system which is contamination-free and hence the quality of the product is remarkable. The injection moulding grades are done by mixing the blends with a platinum cure system and is delivered into the injection unit where it is injected through a runner and gate system into the closed mold until cured. At the end of the cycle the parts are removed or ejected from the cavities and the next cycle begins.
Acrylic Rubber Market Segment Analysis - By Fabrication Process
Compression Moulding held the largest share in the Acrylic rubber Market in 2019. Compression molding is the original production method and is used mainly for handling low to medium production volumes. It is basically used for moulding of gaskets, seals, O-rings, large and bulky mechanical parts. It is the most efficient and widely used process. The process involves mixing of raw material and making pre-forms that are close to the shape of the end product to be made. Then these they are loaded typically by hands into the molds and then demolded. Due to their plasticity property, they can be molded or shaped by application of heat. Other characteristics of plastic are its low electrical conductivity, low density, transparency and toughness which allowed it to be used for the creation of different products.
Acrylic Rubber Market Segment Analysis - By Application
Engine Oils and Lubricants are projected to witness highest share in Acrylic Rubber Market in 2019. This rise is mainly due to the growing demand for automobiles. Due to change in life-style there is higher demand for vehicles. Acrylic Rubber is used because of its resistance to the engine and transmission oil and to automatic transmission fluids. The other factors contributing to the growth of lubricant industry are increasing infrastructural and construction activities. Also, there is an increasing demand for the synthetic as well as bio lubricants in the large-scale industries because of increase in the awareness about the alternate solution for the mineral oil-based product.
Acrylic Rubber Market Segment Analysis - By End Use
The automotive industry held the largest share in the acrylic rubber market in 2019 and is growing at a CAGR of 5%, as acrylic rubber increases the efficiency and have good heat, oxygen and ozone resistance. Technology advancement and new R&D initiatives are transforming the automotive industry. According to the Association of Global Automakers, automakers spent more than $125 billion globally on research & development in 2018. The global consumers are split on benefits of increased vehicle connectivity and consumers in India and china are embracing this idea twice as that of consumers in Germany. Around 80% people in India feel that increase in vehicle connectivity will be beneficial. The global automotive sector has bounced back after the resumption of industrial activities which was temporarily under shutdown due to COVID -19. Thus, flourishing automotive industry may drive the growth of the Acrylic Rubber market.
Acrylic Rubber Market Segment Analysis - By Geography
Asia Pacific region held the largest share in the acrylic rubber market in 2019 up to 40%, owing to the increasing automotive industry in the region. According to China Automotive Association, in 2018 the vehicle production has increased by 30% and the number of newly registered passenger vehicles increased by 23.14 million. The growth was attributed to its FDI policy which has favored China’s automobile industry and has attracted many well-established foreign brands to invest in their automotive industry. Trucks made up almost 90% of commercial vehicles in 2017, and within the truck category, 1.1 million heavy-duty trucks and 229,113 medium-duty trucks were sold in China. Total demand for passenger cars and commercial vehicles in Japan in 2017 was 5.19 million units, an increase of 2.2% from the previous fiscal year, with sales of passenger cars and CVs, excluding mini-vehicles, totaling 3.34 million units, down 0.7% from fiscal 2016, and sales of mini-vehicles reaching 1.86 million units, up 7.9%. The commercial vehicle sector in South Korea accounts for 10% of the country’s automotive market. In 2017, there were 4.2 million vehicles manufactured in South Korea, of which 3.6 lakh vehicles were commercial vehicles. The prominent factors such as economic growth and continued high levels of infrastructure spending has augmented the sales of heavy-duty trucks and commercial vehicles in APAC region. This in turn, positively impacted the acrylic rubber Market in the Asia Pacific region. Currently the rubber industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.
Acrylic Rubber Market Drivers
Rise in Demand for Rubber in different industries
Industrialization has led to the increase in demand for rubber in various industries for different purposes. Due to rise in population there is an extreme rise in demand for rubber. Artificial rubber is mostly used in the automotive sector. Due to rise in the population, there is also rise in infrastructure and construction activities. Other sectors are also seeing rise in electronic equipment and for sealants in various other industries.
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Acrylic Rubber Market Challenges
Shifting industry landscape
As OEMs seek to develop alternative powertrain technologies, suppliers will likely provide more of the value-added content per car. In addition, OEMs need to ensure that their suppliers’ production footprints, especially in emerging markets match future market demands and their own production plans.
The emergence of COVID-19 pandemic
The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable impact on global economic growth. According to International Rubber Study Group the difference is that most likely all special developments will happen in 2020; a decline of 11.9% in 2020 Q1 and, on top of that, an estimated decline of 13.6% in 2020 Q2. This represents a decline in rubber consumption from 7.1 million tons in 2019 Q4 to 5.4 million tons in 2020 Q2. Moving back, consumption in 2020 Q3 is projected to reach 6.8 million tons, an increase of 25.4%. This results for 2020 in a decline in total rubber consumption of 11.2% and in NR consumption of 10.6%. Currently, the rubber market has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In turn, has affected the demand and supply chain as well which has been restricting the growth in year 2020.
Acrylic Rubber Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Acrylic Rubber market. Major players in the Acrylic Rubber Market are Dupont, Jet Rubber Inc., Continental AG, Zhongce Rubber Group, Cheng Shin Rubber Industry Co., and Others.
Acquisitions/Technology Launches/ Product Launches
In October 2019, Trinseo acquired Latex Binder’s Assets and Rheinmunster Site in Germany. The acquisition will accelerate growth through expanded product portfolio for adhesives and construction applications.
In March 2011, WestMoonint launched Acrylic Rubber series (ACM) which are comprehensively used in automotive industry applications to make automotive hoses, gaskets, seals, and others for all oversea market and end users.
Key Takeaways
Asia Pacific dominates the acrylic rubber market, owing to the increasing automotive production in the APAC region. According to OICA, in 2018 the production of light commercial vehicles has increased by 10.2 % in the APAC region.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Acrylic Rubber market and their specific segmented revenue.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of Acrylic Rubber related industries has been negatively affected, thus hampering the growth of the market.
Related Reports :
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https://www.industryarc.com/Research/Injection-Molding-Machine-Market-Research-500259
B. Tert Butyl Acrylate Market
https://www.industryarc.com/Report/18604/tert-butyl-acrylate-market.html
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