The global EPDM Rubber market revenue is projected to touch USD xx Bn by 2025. The market has positive growth rate and is anticipated to have significant development over the forecast period of 2018 to 2025. The growth is fueled by the higher demand for elastomers, rising end-use industry, growing expansion and acquisition activities and rising development strategies. Some other vital factors bolstering the global market are rising demand for EPDM in building and construction, automotive, molded goods, lubricant additives and plastic modification applications. EPDM’s main use is in low slope roofing in refurbished as well as new buildings. With the thorough development of bio-based EPDM by organizations such as Lanxess will offer immense opportunities for market growth. Volatile price of raw material has become one of the major restraint for growing Ethylene Propylene Diene Monomer (EPDM) Market.
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Industry expert at Technavio, Ajay Adhikari says, “Vendors compete based on factors such as innovation, price, operational cost, and product quality. Some of the players can drive down the market prices because their costs are lower than that of their competitor’s. Also, financial, technological, and other resources of some of the suppliers are greater than that of their competitor’s, and such players can withstand the changes in market conditions.”
Fastest growing application segment in ethylene propylene diene monomer industry is Lubricant Additive. This fast growth owes to the fact that lubricant additive is indispensable feature of whole machinery, starting off with applications which enable the modification of minute parts to the movements of unbearable heavy masses. EPDM mainly serve as viscosity improver (VI) for lubricant as it owns a property to absorb oil that makes it advantageous and makes it important part in oil viscosity to improve applications.
Automotive Industry has become the largest consumer for Ethylene Propylene Diene Monomer Market and account for huge share in market. The higher adoption of this product is directly proportional to the growth in automotive industry. Parameters that make it suitable are its weather resistance, high heat resistance and vibration absorption. It’s useful for varied applications such as hoses, body sealing, engine mounts, brake parts, windshield wipers, weather-stripping, belts, etc.
Its spectrum wider, automotive industry has started growing its roots in countries such as Mexico, Indonesia and Slovakia along with already well-established automotive manufacturers such as U.S., Japan, Germany and China. Due to the expansion of automotive industry, these countries will contribute to the positive growth of epdm rubber industry. Aside from these countries, Asia-Pacific was the largest regional EPDM rubber market in year 2013, it will continue its dominance over the coming next six years with major development witnessed in India, Taiwan, Malaysia, South Korea and China. The market in these countries is characterized by available abundant raw material owing to the strong base of petrochemical manufacturing facilities. Europe and North America are comparatively stronger and mature economies that are anticipated to witness stagnant growth rates over the upcoming years.
Global EPDM Rubber market share has becoming consolidated with higher investment in R&D for launching eco-friendly and bio-based routes for producing final products with higher durability and over-all economics .Top players of EPDM Rubber are PetroChina Co. Ltd (China), ExxonMobil Chemical Company (U.S.), Mitsui Chemicals Inc. (Japan), SK Global Chemical Co. Ltd (South Korea), Carlisle Companies Inc. (U.S.), John Manville Inc. (U.S.), DoW Elastomers (U.S.), Lanxess AG (Germany), JSR Corporation (Japan) and Kumho Polychem Co. Ltd (South Korea).
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What to expect from the upcoming report on ‘Global EPDM Rubber Market’:
-Future prospects and current trends of the global EPDM Rubber market by the end of forecast period (2018-2025) -Information regarding technological progressions as well as innovations taking place in developing economies -Supportive initiatives by government likely to influence the market dynamics -Trends, drivers, opportunities, restraints, challenges and key developments in the market -In-depth analysis of different market segmentations including regional segmentations, applications and types -Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market
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