Ethylene Propylene Diene Monomer (EPDM) Market to value over USD 7.4 billion by 2029 end and register a CAGR of over 6.1% from 2019 to 2029.
Increasing merchandise requirement from APAC region coupled with an increase in R&D investments is projected to propel ethylene propylene diene monomer (EPDM) market. Furthermore, the need for bio-based products is likely to augment market development during the forecast period.
The global demand for EPDM is predicted to observe a rise over the near future due to swift expansion of application sectors such as automotive and building & construction. Usually, EPDM is produced from petroleum-derived raw materials, such as ethylene and propylene.
Originally, renewable materials were used as a substitute for industrial commodities; however, they resulted in insufficient performance in rubber applications. As the end-use industries are focusing on reducing carbon footprint, especially in the transportation and automotive sectors, principal producers are incorporating the use of renewable sources for enhanced sustainability of end products.
To establish a strong presence in the market, major firms adopt various strategies. In 2013, Arlanxeo, a joint venture between Saudi Aramco and Lanxess AG, introduced Keltan eco, a bio-based EPDM, into the global market. The product line consists of six different grades, the bio-based content of which ranges between 50% and 70%. The bio-based grade is primarily designed for applications that require high-performance, as well as sustainability.
Keltan Eco is derived from bio-based ethylene, which is supplied by Braskem, a company located in Brazil. Braskem derives bio-based ethylene from sugarcane at its production plant in Triunfo, Brazil. The replacement of a single bio-based component does not alter the technical performance property of the EPDM, such as oxidative and water resistance, health and safety, and processing and handling properties.
The market players have a vast geographic presence coupled with large production capacities. The market is also characterized by the presence of various regional companies with medium-scale production capacities. Domestic manufacturers possess a considerable potential to influence the prices offered by major companies, leading to strong competition in the regional, as well as the global market.
The global EPDM market is characterized by the dominance of a few prominent companies such as The Dow Chemical Company, Lanxess AG, Sumitomo Chemical Co., Ltd., Lion Elastomers, LLC, Mitsui Chemicals, and Exxon Mobil Corporation.
Request a Sample Report @https://www.futurewiseresearch.com/request-sample.aspx?id=2307&page=requestsample
1. By Application
● Wires & Cables
● Plastic Modifications
● Lubricant Additives
● Tires & Tubes
● Building & Construction
The automotive was estimated as the largest application segment. In the automotive industry, the product is used in hydraulic brake systems, wire & cable harnesses, tubing, window spacers, radiators, belts, weather stripping & seals, glass run channel, and door, window, & trunk seals. It is also used in the interior trim, striker plate blinds, and under the hood. The product is witnessing an augmented demand in these applications as it offers a non-reflective and premium-quality finish.
2. By Region:
● North America
● Latin America
● Rest of World
Asia Pacific accounted for the largest market share and is projected to expand further due to the high product demand from key industries including automotive, building & construction, and electrical & electronics. Since the past few years, the manufacturing industry in the Asia Pacific has been attracting significant investments from leading MNCs. Companies from Northeast Asia are mainly engaged in pushing their economies to grow in key sectors pertaining to raw material extraction, manufacturing, and services.
Thus, the governments across the region have transformed the rural industries to well-equipped, world-class manufacturing facilities through the implementation of protectionism, financial investment, and regulatory support. Moreover, low labor costs and close proximity to raw material suppliers are further attracting the investors. China, Indonesia, South Korea, India, and Taiwan are expected to drive the Asia Pacific market over the forecast period.
Purchase a Copy of this Premium Research Report & Ask For Discount: https://www.futurewiseresearch.com/request-sample.aspx?id=2307&page=askfordiscount
● Tier 1 players- established companies in the market with a major market share
● Tier 2 players
● Emerging players which are growing rapidly
● New Entrants
● Growth prospects
● SWOT analysis
● Key trends
● Key data points affecting market growth
Objectives of the Study:
● To provide an exhaustive analysis on the global EPDM market by application and by region
● To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
● To evaluate and forecast micro-markets and the overall market
● To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and rest of the world.
● To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
● Profiling of companies to evaluate their market shares, strategies, financials and core competencies
Inquire further details about this report at:firstname.lastname@example.org
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and customised solutions for our clients. Through in-depth market insights and consultancy, we present our clients with the tools they need to be at the forefront of their industry – a position secured for far more than the near future.
Company Name:FutureWise Research
Contact Person: Vinay Thaploo
Phone:+44 141 628 9353 / +1 970 279 4295
Country: United Kingdom