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Ethylene Propylene Diene Monomer (EPDM) Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029

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Ethylene Propylene Diene Monomer Market to value over USD 7.4 billion by 2029 end and register a CAGR of over 6.1% from 2019 to 2029. Increasing merchandise requirement from APAC region coupled with an increase in R&D investments is projected to pro
Ethylene Propylene Diene Monomer (EPDM) Market Global Trends, Market Share,
Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029
Ethylene Propylene Diene Monomer Market to value over USD 7.4 billion by 2029
end and register a CAGR of over 6.1% from 2019 to 2029.
Increasing merchandise requirement from APAC region coupled with an increase in
R&D investments is projected to propel ethylene propylene diene monomer (EPDM)
market. Furthermore, the need for bio-based products is likely to augment market
development during the forecast period.
The global demand for EPDM is predicted to observe a rise over the near future due
to swift expansion of application sectors such as automotive and building &
construction. Usually, EPDM is produced from petroleum-derived raw materials, such
as ethylene and propylene.
Originally, renewable materials were used as a substitute for industrial commodities;
however, they resulted in insufficient performance in rubber applications. As the
end-use industries are focusing on reducing carbon footprint, especially in the
transportation and automotive sectors, principal producers are incorporating the use
of renewable sources for enhanced sustainability of end products.
To establish a strong presence in the market, major firms adopt various strategies. In
2013, Arlanxeo, a joint venture between Saudi Aramco and Lanxess AG, introduced
Keltan eco, a bio-based EPDM, into the global market. The product line consists of six
different grades, the bio-based content of which ranges between 50% and 70%. The
bio-based grade is primarily designed for applications that require high-performance,
as well as sustainability.
Keltan Eco is derived from bio-based ethylene, which is supplied by Braskem, a
company located in Brazil. Braskem derives bio-based ethylene from sugarcane at its
production plant in Triunfo, Brazil. The replacement of a single bio-based component
does not alter the technical performance property of the EPDM, such as oxidative
and water resistance, health and safety, and processing and handling properties.
The market players have a vast geographic presence coupled with large production
capacities. The market is also characterized by the presence of various regional
companies with medium-scale production capacities. Domestic manufacturers
possess a considerable potential to influence the prices offered by major companies,
leading to strong competition in the regional, as well as the global market.
The global EPDM market is characterized by the dominance of a few prominent
companies such as The Dow Chemical Company, Lanxess AG, Sumitomo Chemical
Co., Ltd., Lion Elastomers, LLC, Mitsui Chemicals, and Exxon Mobil Corporation.
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Market Segmentation:
1. By Application
●
Automotive
●
Wires & Cables
●
Plastic Modifications
●
Lubricant Additives
●
Tires & Tubes
●
Building & Construction
●
Others
The automotive was estimated as the largest application segment. In the automotive
industry, the product is used in hydraulic brake systems, wire & cable harnesses,
tubing, window spacers, radiators, belts, weather stripping & seals, glass run
channel, and door, window, & trunk seals. It is also used in the interior trim, striker
plate blinds, and under the hood. The product is witnessing an augmented demand
in these applications as it offers a non-reflective and premium-quality finish.
2. By Region:
●
Europe
●
North America
●
APAC
●
Latin America
●
Rest of World
Asia Pacific accounted for the largest market share and is projected to expand
further due to the high product demand from key industries including automotive,
building & construction, and electrical & electronics. Since the past few years, the
manufacturing industry in the Asia Pacific has been attracting significant investments
from leading MNCs. Companies from Northeast Asia are mainly engaged in pushing
their economies to grow in key sectors pertaining to raw material extraction,
manufacturing, and services.
Thus, the governments across the region have transformed the rural industries to
well-equipped, world-class manufacturing facilities through the implementation of
protectionism, financial investment, and regulatory support. Moreover, low labor
costs and close proximity to raw material suppliers are further attracting the
investors. China, Indonesia, South Korea, India, and Taiwan are expected to drive the
Asia Pacific market over the forecast period.
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Competitive Landscape:
●
Tier 1 players- established companies in the market with a major market share
●
Tier 2 players
●
Emerging players which are growing rapidly
●
New Entrants
FutureWise Takeaways
●
Growth prospects
●
SWOT analysis
●
Key trends
●
Key data points affecting market growth
Objectives of the Study:
● To provide an exhaustive analysis on the global EPDM market by application and
by region
● To cater comprehensive information on factors impacting market growth
(drivers, restraints, opportunities, and industry-specific restraints)
●
To evaluate and forecast micro-markets and the overall market
● To predict the market size, in key regions (along with countries)—North
America, Europe, Asia Pacific, Latin America, and rest of the world.
● To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
● Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
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