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.
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