New Product Launches and Expansions were the Key Growth Strategies Adopted by Leading Players in the Acrylic Elastomers Market Between 2015 and 2017
The acrylic elastomers market is projected to grow from USD 648.2 million in 2017 to USD 983.9 million by 2022, at a CAGR of 8.7% during the forecast period. Acrylic elastomers are derivatives of acrylic acid and are manufactured by emulsion and suspension polymerization methods. These elastomers possess heat and oil resistance properties and are majorly used in the automotive industry to manufacture hoses, gaskets, seals, and O-rings. Acrylic elastomers are of 2 types, namely, Acrylic Co-Monomer Elastomers (ACM) commonly known as polyacrylates and Ethylene Acrylic Elastomers (AEM).
Key companies have adopted various inorganic and organic growth strategies, such as new product launches, mergers, and expansions, to strengthen their foothold in the acrylic elastomers market. BASF SE (Germany), DowDuPont (US), Zeon Corporation (Japan), NOK Corporation (Japan), and Trelleborg AB (Sweden) are some of the leading players operating in the acrylic elastomers market.
New Product Launches and Expansions were the Key Growth Strategies Adopted by Leading Players Between 2015 and 2017 to enhance their business prospects, increase their global reach, and widen their distribution networks. Zeon Corporation (Japan) adopted organic growth strategies to increase its revenue and enhance its profit margins. In 2015, Zeon Corporation established its subsidiary company Zeon India Pvt. Ltd. in India to fulfill the rising demand for acrylic elastomers in this country. This development strategy enabled the company to strengthen its foothold in the acrylic elastomers market in India.
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DowDuPont (US) is one of the leading innovation-driven companies that develop ethylene-based acrylic elastomers. The company has adopted the strategy of mergers to expand its position in the acrylic elastomers market. In 2017, Dow (US) and DuPont (US) merged to form a new company that operates under the name of DowDuPont. This merger enabled both these companies to enhance their business prospects and widen their customer base in core markets.
Kuraray Co., Ltd. (Japan), DER-GOM (Italy), Chengdu Dowhon Industry Co., Ltd. (China), and Denka Company Ltd. (China) are other leading manufacturers of acrylic elastomers.
Related Reports:
Acrylic Elastomers Market by Type (Acrylic Co-monomer Elastomer/ACM & Ethylene Acrylic Elastomers/AEM), End-Use Industry (Automotive, Construction, Industrial), and Region (North America, APAC, Europe, and Rest of the World) - Global Forecast to 2022
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