Ethylene Propylene Diene Monomer (EPDM) Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029
Ethylene Propylene Diene Monomer (EPDM) 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
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Website: www.futurewiseresearch.com
Contact Person: Vinay Thaploo
Email: sales@futurewiseresearch.com
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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