ALBANY, New York, Feb. 10, 2020 /PRNewswire/ -- The advancement in application and widespread use in synthetic hydraulic fluids, coolants, brake fluids, door sealants, and major sectors like aerospace will drive robust growth for the market. According to the TMR study, the ethylene propylene diene monomer (EPDM) market will likely register a notable 6.0% CAGR during 2019-2027. Rising at a robust CAGR, the market will reach nearly US$6.2 bn in valuation by 2027.
As per Transparency Market Research analysts, "the ability to sustain a wide range of temperatures, and strong mechanical strength are key to growth in the ethylene propylene diene monomer market. Additionally, new features such as increased weather resistance also further its application in new segments across industries".
Key Findings of the Ethylene Propylene Diene Monomer Market Study
End-industries continue to shift towards synthetic rubber for application. The demand for natural continues to be plagued with fluctuating prices, and growing incentives for production of synthetic rubber also promise to further growth.
The cost-effectiveness of synthetic rubber, and lower consumption of energy in relation to special and general applications promise significant gains.
Key sectors like construction, automotive, among others promise to emerge as strong drivers for growth during the forecast period.
Developments like electric vehicles, UV-resistant properties, and glycol infused brake liquids promise new opportunities for growth in the automotive sector.
The growing demand for TPVs is a major driver for growth in the ethylene propylene diene monomer market. The cross-linking of rubber materials and formation of polypropylene structured product has opened up new opportunities. These new products offer higher resistance to chemicals, weather, and UV radiation. This is expected to emerge as the main driver for growth in the ethylene propylene diene monomer market.
New horizon of bio-based materials promise to add to conventional strengths with higher metal adhesion, sustainability, higher oil resistance, and effective application as a solvent. Moreover, the use of sugarcane-based bio-materials also promise low costs, thanks to commercial production of sugarcane in major areas of North America region.
Indian finance minister recently announced a $1.4 trillion investment in infrastructure over 2019-2024 period. Similar investments across Asia Pacific, North America will emerge as a major opportunity for players in the ethylene propylene diene monomer market.
Key Impediments for Ethylene Propylene Diene Monomer Market Players
Despite significant material advancements with bio-materials, the poor compatibility with oils like kerosene, aromatic, and aliphatic hydrocarbons, and oils continue to be a restraint for growth in the ethylene propylene diene monomer market.
Additionally, the in-mold vulcanized bonding process towards creation of substrates also poses challenges for players in the ethylene propylene diene monomer market.
The EPDM market promises to make significant expansion in emerging region of Asia Pacific during 2019-2027 period. The growing demand for automobiles, rising investment in infrastructure, and key initiatives in major economies like India, and China are expected to drive growth. The growing acquisitions, and manufacturing capacity expansion in the region are also notable as they promise a higher commercialization of EPDM products in near future.
The growth in Europe, and North America will likely remain robust, thanks to dynamic shifts in auto-manufacturing. The growing automation, and adoption of electric vehicles will create new opportunities for growth in the EPDM market in the region. The bio-based materials will also lead to positive adoption of products in regions like Europe, where stringent environmental regulations open up new business opportunities.
Analyse ethylene propylene diene monomer market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
According to the TMR study, the competitive landscape of the EPDM market is competitive and consolidated. Six key players in the market make up for 70% of the market share. The players in the market continue to engage in robust innovations to drive growth. For example, in 2018, Johns Manville introduced EPDM membrane sheet, which showcased the tape-to-tape technology. The technology promises to increase installation speeds by four fold, and lowered waterproofing costs significantly. The rising competition in the EPDM market promise to expand the market to new regions. Some key players in the EPDM market are Lanxess AG, Exxon Mobil Corporation, Mitsui Chemicals Inc., DowDuPont Inc, and Lion Elastomers.
Transparency Market Research has segmented the ethylene propylene diene monomer market based on application, and regions.
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