Press release
Acrylic Rubber Market Growth Rate, Trends, Size, Industry Trends And Forecast To 2033
Acrylic Rubber Market Growth
Market Size And Growth Forecast:
The acrylic rubber market size has grown strongly in recent years. It will grow from $1.51 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to automotive industry adoption, construction sector utilization, environmental regulations, electronics and electrical applications, healthcare industry applications.
The acrylic rubber market size is expected to see strong growth in the next few years. It will grow to $2.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to global industrial growth, adoption in energy-efficient systems, consumer goods market growth, aerospace and aviation expansion, demand in healthcare equipment. Major trends in the forecast period include demand for high-performance materials, automotive industry growth, environmental regulations, expansion in construction sector, electronics and electrical applications.
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Market Segmentation:
The acrylic rubber market covered in this report is segmented -
1) By Type: Active Chlorine Acrylate Rubber, Carboxyl Type Acrylate Rubber, Dienes Acrylate Rubber, Epoxy Acrylate Rubber
2) By Fabrication Process: Compression Molding, Transfer Molding, Injection Molding, Other Fabrication Process
3) By Application: Textiles, Adhesives, Gaskets, Coating, Plastics, Other Applications
4) By End Use: Automotive Industry, Chemical Industry, Electrical And Electronics, Oil And Gas, Aerospace, Manufacturing, Textile Industry, Marine Industry, Other End Users
Major Driver - Automobile Production Surge Fuels Acrylic Rubber Market Growth
Increasing automobile production is expected to propel the growth of the acrylic rubber market. Automobiles refer to self-propelled motor vehicles, including cars, trucks, motorcycles, and others, designed for road transportation. Automotive production refers to transforming basic materials to create motor vehicles and the parts that go into making them. Acrylic rubber products are widely used in automobile components such as transmissions, bearing seals, and O-rings for their heat- and oil-resistant properties. Thus, the increasing automobile production is boosting the sales of acrylic rubber products. For instance, in 2021, according to the European Automobile Manufacturers' Association (ACEA), a Belgium-based automobile trade association, the world motor vehicle production volume reached 79.1 million units, an increase of 1.3% compared to 2020. Additionally, in March 2023, according to the US Federal Reserve, a US-based central banking system, 1.87 million autos were produced in the US, increasing from 1.71 million in February 2023. As a result, increasing automobile production is driving the growth of the acrylic rubber market.
Competitive Landscape:
Major companies operating in the acrylic rubber market report are DuPont de Nemours Inc., PAR Group Ltd., Ames Rubber Manufacturing Co. Inc., Apcotex Industries Ltd., Anabond Limited, Hanna Rubber Company, ZEON Corporation, Nok Corporation, Fostek Corporation, Jet Rubber Company, Synthos SA, Vanderbilt Chemicals LLC, Canada Silicone Inc., Elder Rubber Company, Unimatec Chemicals, Changzhou Haiba, Suining Qinglong, Hi-Tech Polymers, Mitsubishi Chemical, Chongqing Jianfeng, Sumitomo Chemical, Kivi Markings, Sreeji Trading Company, Harboro Rubber, Tiger Rubber Company, Toyo Soda Manufacturing, Formosa Chemical & Fibre Corporation, Shin-Etsu Chemical Co. Ltd., Dow Chemical, Eastman Chemical Company
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Top Trend - Sustainability In Acrylic Rubber Market With Innovative Bio-Based Monomer
Product innovations are a key trend gaining popularity in the acrylic rubber market. Major companies operating in the acrylic rubber market are introducing innovative products to sustain their position in the market. For instance, in September 2023, BASF SE, a Germany-based manufacturer of chemicals, launched 2-Octyl Acrylate (2-OA), a bio-based acrylic monomer. OA is produced using 2-Octanol, a bio-based feedstock derived from castor oil. This provides a renewable and sustainable alternative to fossil-based resources. BASF's 2-OA is certified as 73% 14C-tracable bio-based content according to the ISO 16620 standard.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Acrylic Rubber Market Characteristics
3. Acrylic Rubber Market Trends And Strategies
4. Acrylic Rubber Market - Macro Economic Scenario
5. Acrylic Rubber Market Size And Growth
…..
27. Acrylic Rubber Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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