Acrylic Ethylene Rubber or AEM is an ethylene-methyl acrylate polymer with small monomers containing carboxylic acid groups, making AEM resistant to heat, chemicals, ozone, and oil with oil excellent resistance to lubricating oils and greases. According to BlueQuark Research & Consulting, the global Acrylic Ethylene Rubber market is expected to witness a significant growth rate during the forecasted period. Factors like the increasing use of Acrylic Ethylene Rubber in the automotive industry as under the hood component where there is constant contact with oils and corrosive chemicals. Further, the use of Acrylic Ethylene Rubber in the electronics and electrical industry for cable insulation and jacketing is projected to drive the global market. Furthermore, the use of Acrylic Ethylene Rubber in the industrial sector to handle burning fuels and corrosive chemicals is expected to drive the global AEM market. However, factors like substitutes and fluctuating raw material processes are expected to hinder the global market growth.
Acrylic Ethylene Rubber manufactures components like fuel injection systems, coolant systems, O-rings, seals, turbochargers, oil shifters, pistons, cable covers, etc. It is also used in various end-use industries like automobile, electronics and electrical, and industrial.
The Automobile industry is the prime consumer of Acrylic Ethylene Rubber and is projected to drive the global Acrylic Ethylene Rubber market. Increasing population and rapid urbanization are some of the reasons behind the increased sales of automobiles, especially in countries like India and China. IBEF stated that automobile production in India increased at 2.36% CAGR between 2016 and 2020, with up to 26.36 million vehicles being manufactured in the country in 2020. The requirement to handle oils, hot and corrosive fluids in automobiles has made Acrylic Ethylene Rubber essential in the automobile industry due to its inert properties towards oils and corrosive chemicals. Further, according to the International Organization of Motor Vehicle Manufacturers, 2021 saw nearly 21 million vehicles manufactured in the first three months, a 17% year-on-year increase. Since AEM is used for components common to electric and Conventional vehicles, its use in the automotive sector is expected to increase substantially. Therefore the use of Acrylic Ethylene Rubber in the automobile industry is expected to grow and drive the overall market in the future.
Some of the market's key players areDIC Corporation,Celanese Corporation,Solvay SA,Toray Industries,SK Chemicals, among others.
Asia-Pacific region is expected to be the leader in Acrylic Ethylene Rubber production, with most of the consumption in China and India. Acrylic Ethylene Rubber has a vast scope of application in the automotive industry in under-the-hood applications, which has resulted in a surge of demand from the region. Moreover, China is the vastest base for automobile production globally, with hundreds of automobiles manufactured daily, China not only satisfies its domestic need but also caters to international demand. As reported by the China Association of Automobile Manufacturers (CAAM), vehicle sales in China are expected to hit nearly 27 million in 2021, up by 6.7 percent. Apart from the growing automobile industry in the region, countries like Japan, China, and South Korea are among the most extensive electronic and electrical goods manufacturers, thus adding to the demand for AEM in the region used for insulating components. Further, with many industries coming up in the region, the need for Acrylic Ethylene Rubber is increasing since it can easily transport corrosive chemicals without any degradation. Factors like these have made Asia-Pacific an essential scope for the global Acrylic Ethylene Rubber market.
In August 2021,BASF SEand SINOPEC announced expanding their Verbund site, a 50-50 joint venture operated by BASF-YPC Co. Ltd. In Nanjing, China.
In August 2021,Mitsubishi Chemicalsplanned to invest USD 915 Million to set up a plastics plant in the United States.
In March 2021,SK Chemicalsigned for a joint venture with the Chinese company Zhejiang Satellite to build a 40,000tonne/year ethylene acrylic acid plant in Lianyungang in Eastern China.
Global Acrylic Ethylene Rubber Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Acrylic Ethylene Rubber market by segmenting based on the Type (20 wt% Comonomer, 9 wt% Comonomer, 5 wt% Comonomer), End-User Industry (Automobile, Electronics and Electrical, Industrial, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.