The global EPDM market to grow at a CAGR of 7.36% during the period 2017-2021.
Global EPDM Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sales of EPDM.
According to the report, one of the major drivers for this market is Growing demand for synthetic rubber. The application of synthetic rubber is increasing owing to its extensive use in the automobile industry. Natural rubber or SBR can easily be affected by reactive entities in the atmosphere such as ozone. Therefore, it can be easily degraded. EPDM is more resistant to ozone than natural rubber. Another major reason for customers shifting to synthetic rubber from natural rubber is the fluctuating price of the latter.
The latest trend gaining momentum in the market is Increased production of bio-based EPDM. The commercialization and production of bio-based EPDM will prove to be a positive trend for the global EPDM market. Bio-based products are derived from natural and biodegradable resources anticipated to experience a high demand owing to their eco-friendly nature and sustainability. Ethylene, one of the key raw materials of EPDM, is produced from ethanol, which is derived from sugarcane.
Thus, EPDM is biodegradable and recyclable, thereby supporting an eco-friendly environment and this feature acts as a major driver for the global EPDM market. Moreover, bio-based EPDM reduces the dependence on fossil fuel, greenhouse gas emission, and carbon footprint. Due to the environmental rules in Germany, most of the industries prefer to use EPDM, triggering the market growth. LANXESS, a specialty chemicals company, is making efforts in manufacturing environment-friendly EPDM such as Keltan Eco manufactured from sugarcane.
Further, the report states that one of the major factors hindering the growth of this market is Product limitations and lack of awareness. Although the favorable properties and recycling advantages of EPDM have made it compatible with a wide variety of applications, there are a few drawbacks due to its incompatibility. EPDM is not compatible with certain compounds such as aromatic and aliphatic hydrocarbons, concentrated acids, halogenated solvents, kerosene, and gasoline.