Ethylene Propylene Diene Monomer (EPDM) Market Analysis

Ethylene Propylene Diene Monomer Market Analysis

Automotive segment was valued at over $1.07 billion in 2015. Apart from steel, aluminum and other synthetic rubbers, it is one of the key raw materials used in automotive component production. It is primarily used in rear lamp gaskets, inner tire tubes, hoses, tire sidewalls, front & rear bumpers, belt drives, braking systems, door seals, and interior panels of cars. The broad application scope of the product in automotive industry is expected to boost growth of ethylene propylene diene monomer market over the forecast timeframe.
 

Construction applications are projected to expand at over 5% CAGR in terms of revenue. Owing to its extraordinary resistance to heat, cold, sunlight, and air pollution, this polymer has seen an ever-increasing demand for roofing purposes which is in turn anticipated to boost ethylene propylene diene monomer market share from the construction industry. Moreover, due to its desirable thermal and mechanical characteristics, electrical & electronics applications are forecast to generate revenue of over USD 200 million by 2024.
 

North America aided by U.S. was valued at over USD 600 million in 2015. High per capita customers spending along with increasing renovation activities in residential and commercial buildings is likely to boost the ethylene propylene diene monomer market in this region.
 

Asia Pacific is anticipated to witness highest gains and grow over 6% annually through 2024. Growing population has increased infrastructure spending, driving EPDM market in the region, particularly in China and India. Also, growing automotive industry, mainly in Indonesia, will further propel industry growth in future years. Latin America is projected to witness significant gains owing to increasing automotive component manufacturing, particularly in Brazil.