Polyacrylate Rubber Market size is anticipated to reach USD 86 Billion by the end of 2036, growing at a CAGR of 10% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of polyacrylate rubber was over USD 3 Billion. The global market is primarily driven by the growth of the automotive industry and increasing demand for automobiles due to lifestyle changes. This acrylic rubber is primarily used in the automotive industry to add strength to seals and packages. The growing need for oil-resistant materials has also led to the introduction of these rubbers in vehicle seals. In 2022, global car sales increased to approximately 67.2 million cars, up from about 66.7 million in 2021.
Industrialization in several sectors for diverse uses has led to an increase in demand for rubber. As the world's urban population grows, rubber consumption is exploding. In the automotive industry, most of the artificial rubber is used. Its use in electronic devices and components for various devices and industries is also increasing.
Growth Factors
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~10% |
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Base Year Market Size (2023) |
~USD 3 billion |
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Forecast Year Market Size (2036) |
~USD 86 billion |
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Regional Synopsis |
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End Use Industries (Packaging, Automotive, Consumer Goods, Chemicals & Material)
Based on end user industries, the automotive segment is set to dominate the polyacrylate rubber market registering a growth of 40% by the end of 2036. Technological advances and new research and development initiatives are transforming the automotive industry. According to the World Automobile Manufacturers Association, automakers around the world spent more than USD 125 billion on research and development in 2018. Consumers around the world are divided on the benefits of improved vehicle connectivity, with Indian and Chinese consumers twice as likely to embrace the idea as German consumers. Around 80% of Indians believe that improved connectivity in vehicles would be beneficial. The global automotive sector has recovered as industrial activities resumed after being temporarily shut down due to the coronavirus disease (COVID-19). Therefore, the prosperity of the automotive industry is likely to propel the growth of the market.
Source (Ethyl Acrylate, Butyl Acrylate, Methoxyethyl Acrylate, Ethoxy Ethyl Acrylate)
In terms of sources, the ethyl acrylate segment in the polyacrylate rubber market is anticipated to hold the largest revenue share of 40% during the time period between 2024-2036. This growth is primarily due to the increasing demand for rubber in various applications such as coatings, textiles, seals, adhesives, plastics, engine oils lubricants, and piping. Due to its excellent properties such as good heat resistance, oxygen resistance, and ozone resistance, ethyl acrylate rubber is increasingly preferred over other types of rubber. This is predicted to boost the segment growth during the period between 2024 – 2036.
Our in-depth analysis of the global polyacrylate rubber market includes the following segments:
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Source |
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Application |
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End Use Industries |
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APAC Market Forecasts
The Asia Pacific region is set to dominate the polyacrylate rubber market reaching a growth of 33% during the estimated period. The growth of this market can be attributed on account of expansion in the automotive industry in this region. According to the China Automobile Association, car production increased by 30% in 2018, and the number of new passenger car registrations increased by 23.14 million units. This growth is due to FDI policies that have favored China's automobile industry and attracted many established foreign brands to invest in the automobile industry. Major factors such as economic growth and continued high infrastructure spending are driving sales of heavy-duty trucks and commercial vehicles in the APAC region. This had a positive impact on the Asia Pacific polyacrylate rubber market. This also affected demand and supply chains, limiting growth in 2020.
North American Market Statistics
The polyacrylate rubber market in the North America region is expected to grow significantly during the period between 2024-2036. The North America region is considered one of the key markets for polyacrylate rubber due to the increasing demand for materials for sealing and packaging applications in various end-use industries. The US polyacrylate rubber market is expected to offer significant opportunities due to strong growth in industries such as automotive, textiles, and paints and coatings due to its many applications in textiles, adhesives, and coatings. Increasing demand for industrial packaging and sealing applications is also another factor driving the growth of the North American market.
Author Credits: Smruti Ranjan, Rajrani Baghel
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