Ethylene Propylene Diene Monomer (EPDM) Market worth $4.28 billion by 2024
Published Date: August 25, 2016 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights, Inc., the Ethylene Propylene Diene Monomer (EPDM) Market size is expected to reach USD 4.28 billion by 2024.
Global ethylene propylene diene monomer market is mainly categorized on primary applications which include construction, electrical & electronics, plastics, automotive, lubricant additives, and others. Automotive dominated the application base and accounted for over 40% of the total market share in 2015. It is widely used in manufacturing automobile components such as bumpers, door seals, and braking system. Growing consumer demand for automotive and wide range of applications in this space is likely to ensure continued gains in this sector.
Construction, on the other hand is expected to help demand grow rapidly (over 6%) in terms of revenue by 2024. Increasing construction spending in BRIC nations is anticipated to propel the EPDM market for construction applications.
Along with the above applications, increasing potential for polymer modification in the industrial sector will boost demand. Global personal & commercial automotive sales were approximately 90 million units in 2015.
It is also a key raw material used in plastic modification in thermoplastic olefins (TPO) and thermoplastic vulcanizates (TPV). Lightweight and increased strength characteristics of TPO make it attractive for automotive and construction sectors. This in turn helps the automotive industry to abide by various stringent government regulations aimed at reducing carbon emissions produced by vehicles.
Global production capacity has witnessed steady expansion by industry players, resulting in product oversupply, which may hinder the ethylene propylene diene monomer market price. Petroleum based products are required in production and therefore fluctuating crude oil prices may negatively impact industry growth. However, the development & commercialization of bio based EPDM products is anticipated to provide new industry growth opportunities in the near future.
Browse key industry insights spread across 82 pages with 89 market data tables & 10 figures & charts from the report, “Ethylene Propylene Diene Monomer (EPDM) Market Size By Application (Construction, Electrical & Electronics, Plastics, Automotive, Lubricant Additives), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Bio-Based Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key Insights from the Ethylene Propylene Diene Monomer Market Report Include:
- Electrical & electronics applications were valued at over $140 million in 2015. Excellent thermal and mechanical characteristics makes product desirable for electrical & electronics application.
- Lubricant additive applications are estimated to expand at over 4% CAGR from 2016 to 2024.
- U.S. is set to reach USD 940 million by 2024. High customer spending on luxury vehicles is likely to boost regional industry growth. U.S. plastics applications were valued at over USD 60 million in 2015 and forecast to rise with over 4% CAGR.
- UK market for construction application is estimated to reach USD 15 million with over 4% CAGR.
- Asia Pacific was dominant regional market in 2015. Increasing construction activities along with growing automobile manufacturing units is anticipated to be key factor propelling regional ethylene propylene diene monomer market growth.
- Indian market is forecast to reach $130 million, with estimated gains at over 7% CAGR.
Major industry participants ethylene propylene diene monomer market include Exxonmobil Chemical Company, SK Global Chemical Co., Petrochina Co. Ltd., Mitsui Chemicals Inc., and Versalis. Other notable market share contributors are DOW Elastomers, Lanxess AG, John Manville Inc., Carlisle Companies Inc., JSR Corporation, Lion Copolymer LLC, OAO Nizhnekamskneftekhim, Kumho Polychem Co. Ltd., and Sumitomo Chemical Co. Ltd.
The ethylene propylene diene monomer industry is witnessing consolidation. For example, ExxonMobil Chemical Company, Lanxess AG, Firestone Building Products Company, and Johns Manville are integrated forward.
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