Polyacrylate Rubber Market Segmentation:
End Use Industries Segment Analysis
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 2035. 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 Segment Analysis
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 2026-2035. 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.
Our in-depth analysis of the global polyacrylate rubber market includes the following segments:
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