COVID-19 Impact on Acrylic Lubricant Market
- The COVID-19 outbreak hindered the demand for acrylic lubricant in several ways. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for acrylic lubricant.
- Demand for acrylic lubricant is directly linked to the demand for plastic products. Many end-use industries such as building & construction, automotive, and electronics & electrical have been severely affected by the COVID-19 pandemic. Factories were closed down and many operations came to halt. Thus, the acrylic lubricant market suffered a decline in demand.
- The COVID-19 outbreak has directly affected the production of acrylic lubricants. Industrial shutdown caused by the COVID-19 pandemic has resulted in stoppage of production across the world, thus creating a demand and supply gap in the market.
Key Drivers of Acrylic Lubricant Market
- Acrylic lubricants have direct application in plastic product manufacturing processes such as blow molding, extrusion, and calendaring. Majority of plastic products are manufactured through the above processes and have application in major industries such as automotive, electrical & electronics, and building & construction. Continuous demand for plastic products from these industries is driving the acrylic lubricant market.
- Demand for plastic products is expected to rise in the near future due to the recovery of the global economy from the COVID-19 pandemic. Growth of automobile, building & construction, and electronic & electrical industries is driving the market. Furthermore, introduction of 5G and rise in demand for electronic & electrical products are expected to boost the acrylic lubricant market.
Restraints of Acrylic Lubricant Market
- Rising concern about the use of plastic products around the world due to their adverse effects on the environment is hampering the global acrylic lubricant market. Many industries are striving to find alternatives for plastic products. Increase in focus on environmental sustainability is likely to hinder the acrylic lubricant market.
Asia Pacific to Constitute Significant Share of Global Acrylic Lubricant Market
- In terms of region, the global cycloaliphatic epoxy market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is projected to offer significant rise in demand for acrylic lubricants, as the building & construction segment is expected to expand at a considerable pace in the region. The automobile industry has been expanding in countries in the region. Expansion of construction and automotive sectors in India and China; and the presence of a vast electronic & electrical industry in China are driving the demand for acrylic lubricants in the region.
- North America and Europe are also key consumers of acrylic lubricants. These are one of the leading consumers of automobiles as well as electronic & electrical products. Therefore, demand for acrylic lubricants is expected to rise steadily in these regions.
Competitive Landscape of Global Acrylic Lubricant Market
The global acrylic lubricant market is highly fragmented. Several small and medium players offer acrylic lubricants. Some of the key market players are as follows:
- Mitsubishi Chemicals
- Dow Chemical Company
- Shandong Ruifeng corporation ltd.
- Kaneka Corporation
- Arkema SA
- WSD Chemicals
- LG Chem
Global Acrylic Lubricant Market: Research Scope
Global Acrylic Lubricant Market, by Product Type
Global Acrylic Lubricant Market, by Application
- Blow Molding
- Extrusion
- Calendering
- Others
Global Acrylic Lubricant Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Acrylic Lubricant Market Introduction
- Acrylic lubricants are external lubricants used to achieve excellent metal release in PVC, TPU, and polyolefins in different processes such as calendaring, blow molding, and extrusion. Acrylic lubricants do not affect clarity, heat stability, chemical resistance, and physical properties of the plastic.
- Use of acrylic lubricants delays PVC fusion, prevents plastic deposits around die or rollers, and improves productivity of processes such as extrusion and mo]lding. Acrylic lubricants prevent leakage of additives. Acrylic lubricants also reduce adhesion of materials to dye, cylinder, or rollers; and improve surface finish of end-products.
