Published: Jan, 2019
The global ethylene propylene diene monomer (EPDM) market is consolidated. This is because of a few players accounting for a substantial share in it. In 2015, the leading six companies held almost 80% share in it. Those were LANXESS AG, Mitsui Chemicals, ExxonMobil Chemical Company, Kumho Polychem, Lion Copolymer LLC, and the Dow Chemical Company. These companies still continue to hold a prominent position but are gradually losing share to new players entering the fray.
Going forward, the global ethylene propylene diene monomer (EPDM) market is expected to see intensified competition. This is because of the influx of new players. This is expected to make the market somewhat fragmented.
A report by Transparency Market Research on the global ethylene propylene diene monomer (EPDM) market finds that it would rise at 5.4% CAGR from 2016 to 2024. Rising at this pace, the market which was worth US$2.63 bn in 2015 is predicted to achieve a value of US$4.20 bn by the end of 2024.
Among the various end users in the global ethylene propylene diene monomer (EPDM) market, the automotive sector is driving most of the demand. In 2015, it contributed almost a 40.0% share in it. This is because of the high growth of the sector in the past few years, particularly in Asia Pacific, North America, and Latin America. Going forward, the segment is projected to be largest generator of demand owing to the launch of more advanced vehicles. Regionally, Asia Pacific is the dominant ethylene propylene diene monomer (EPDM) market. Over the course of the next few years, it is expected to see impressive growth, powered by the electrical equipment parts manufacturing and construction boom in China.
Wide Ranging Applications of Rubber Driving Global Ethylene Propylene Diene Monomer (EPDM) Market
Ethylene propylene diene monomer (EPDM) is a synthetic rubber of high density. It is seeing surging demand owing to the widespread usage of rubber in various end-use industries. Those include automotive, construction, electronics, tires and tubes, and wires and cables. For example, in the automotive industry, EPDM finds application in manufacturing brake parts, radiator, wipers, body sealing, glass-run channel, roofing membrane, and engine mounts, among others. Such wide ranging applications is no doubt positively impacting the global ethylene propylene diene monomer (EPDM) market.
USPs of Durability and Temperature Resistance Drives Uptake of EPDM
There are numerous USPs of EPDM that is driving its uptake in different areas. Foremost among those is their high density and durability. They are resistant to abrasives and temperatures, solvents, and tearing. It has high elasticity at both high and low temperatures. This makes EPDM perfect for electrical insulation and lamination. And owing to the organic growth in the end use industries using EPDM for various purposes, the global ethylene propylene diene monomer (EPDM) market’s growth would remain supported too.
Posing a challenge to the global ethylene propylene diene monomer (EPDM) market is the fluctuating raw material prices. This affecting the bottom line of companies, thereby dampening market growth to an extent.
This review is based on TMR’s report titled, “Ethylene Propylene Diene Monomer (EPDM) Market (End-user - Building & Construction, Electrical, Plastics, Automotive, Lubricant Additive) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024.”
Global Ethylene Propylene Diene Monomer (EPDM) Market, by End-users
- Building & Construction
- Lubricant Additive
- Others (Rubber Goods, etc.)
Global Ethylene Propylene Diene Monomer (EPDM) Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of South America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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