Chemicals And Materials | Jul 25, 2019
The ethylene propylene diene monomer (EPDM) market has been estimated to experience significant growth opportunities in the forthcoming years. This market growth is on the back of the increasing application of synthetic rubber in different end-use industries. Among these synthetic rubber, ethylene propylene diene monomer is capturing consumers’ attention. Regional production polarization and highly volatile prices of the natural rubber serve the noteworthy factor to boost growth opportunities in the market.
Ethylene propylene diene monomer can be used in different temperature changes and contain substantial mechanical strength. These properties make this monomer an ideal rubber for application in different end-use segments. Some inert chemical properties that provide resistance in different weathers are also favoring the growth avenues in the ethylene propylene diene monomer (EPDM) market.
As per the research report by Transparency Market Research, the ethylene propylene diene monomer (EPDM) market is estimated to reach a CAGR of ~6 % and gain a valuation of US$ 6.2 Bn. during the forecast period from 2019 to 2027.
Rising Application of Ethylene Propylene Diene Monomer (EPDM) in Automotive Industry Anticipated to Drive Growth Avenues in Global Market
Ethylene propylene diene monomer contains certain unique properties. These properties have been predicted to increase their demand in automotive, industrial, and building & construction applications. Based on volume among other industries, the automotive industry is the major consumer in the ethylene propylene diene monomer (EPDM) market.
The products from the ethylene propylene diene monomer (EPDM) market have been used at an increased rate in the automotive industry that serves as a significant growth driver. In addition to this, EPDM has also been used as the prominent raw material along with aluminum, steel, and some other synthetic rubbers to produce different automotive components.
Ethylene propylene diene monomer has been used commonly for the manufacturing of interior car panels, door seals, belt drives, braking systems, front as well as rear bumpers, inner tire tubes, tire sidewalls, hoses, and rear-lamp gaskets. Thus, based on this extensive application, the market has been predicted to experience innumerable demand opportunities in the years to come.
In recent years, there has been a noteworthy increase in the use of plastic in different end-use industries. So, ethylene propylene diene monomer has been used commonly for the modification of plastic. EPDM has been employed in the process to modify polymer for olefinic thermoplastic elastomers, for example, thermoplastic olefin (TPO) and some other thermoplastic elastomers, for example, thermoplastic vulcanizates (TPVs). Thus, based on these rising applications, the ethylene propylene diene monomer (EPDM) market is likely to grow at a significant speed in the forthcoming years.
The key players serving in the ethylene propylene diene monomer (EPDM) market are Lanxess AG, Mitsui Chemicals Inc., Exxon Mobil Corporation, Lion Elastomers, DowDuPont Inc., Johns Manville, Sumitomo Chemical Co. Ltd., and Versalis S.p.A.
Asia Pacific Projected to Hold a Dominance With Growing Products Demand in Ethylene Propylene Diene Monomer (EPDM) Market
The ethylene propylene diene monomer (EPDM) market has been segmented into North America, the Middle East & Africa, Asia Pacific, Latin America, and Europe based on its regional presence. Among these geographical areas, the Asia Pacific region has been predicted to hold a dominating position in the market. The market dominance is expected on the back of the rising demand for these products for different applications along with various end-user industries. In addition to this, there has been a noticeable increase in the count of domestic producers along with growing production capacities of regional manufacturers that are likely to propel market growth in the region.
Moreover, there has been a subsequent growth in the automotive and rubber industries in the Asia Pacific region that further bolsters expansion opportunities in the ethylene propylene diene monomer (EPDM) market. Various countries, for example, Indonesia, Thailand, and India have been projected to hold a leading position regarding product consumption in the regional market during the forecast period.
The global ethylene propylene diene monomer (EPDM) market is divided into:
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