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Albany, New York, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Transparency Market Research has recently published a new report that talks about the dynamics of the global ethylene propylene diene monomer (EPDM) market. According to this research report, the global market was initially valued at US$3.8 Bn in 2018. The market is expanding at a healthy CAGR of 6% over the course of the given forecast period of 2019 to 2027. With such strong CAGR, the global ethylene propylene diene monomer (EPDM) market is expected to reach a valuation worth US$6.2 Bn by the end of 2027.
Shift from Natural Rubber to Synthetic Rubber Key for Ethylene Propylene Diene Monomer (EPDM) Market Development
Synthetic rubber has its uses across a variety of applications, whereas ethylene propylene diene monomer (EPDM) has now been gaining considerable attention from the customers. The increasing dominance of synthetic rubbers in the international rubber market is primarily attributed to numerous interconnected reasons such as regional product polarization and highly fluctuating costs of natural rubber. These reasons have forced the consumers to make a drastic switch to synthetic rubber from natural rubber. With its salient features such as high mechanical strength and temperature resistance has thus helped in scaling the popularity of the ethylene propylene diene monomer (EPDM) market. It has become an ideal synthetic rubber used across a variety of industries.
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From a geographical point of view, the global ethylene propylene diene monomer (EPDM) market is segmented into five key regions viz. Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Of these regional markets, the Asia Pacific market is projected to witness a strong growth rate over the course of the given forecast period of 2019 to 2027. Some key reasons influencing such high rate of growth are booming automobile industry, substantial growth in the industry of building and construction, presence of emerging economies such as India and China that are heavily spending on infrastructural development, and increasing manufacturing and commercialization of bio-based ethylene propylene diene monomer (EPDM).
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Ethylene Propylene Diene Monomer (EPDM) Market Consolidation is expected to Dilute
The vendor landscape of the global ethylene propylene diene monomer (EPDM) market is a consolidated one. The top six players in the global market accounted for nearly 70% of the overall market share in 2018. These players are now strengthening their channels of distribution to solidify their foothold in the market. Adoption of aggressive marketing strategies such as mergers and acquisitions are likely to influence the dynamics of the market in the near future. Also, the emergence of local players in the ethylene propylene diene monomer (EPDM) market is expected to fuel the competition in the market and generate a variety of business opportunities. During the given forecast period of 2019 to 2027, the high consolidation of the global ethylene propylene diene monomer (EPDM) market is expected to dilute because of the use EPDM will expand to a wider range of end-use applications that will lead to entry new companies in the global market.
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The key players in the market are also relying on expanding their production facilities and product development. For instance, in 2018, Johns Manville, a global leader in the production of commercial roofing products, announced the launch new ethylene propylene diene monomer (EPDM) membrane sheet. This new offering was specifically designed to operate on a single waterproof ply membrane. The product was thoroughly tested and certified to speed up the process of installation by four times and also helped in cutting down the labor expenses.
This review is based on the research report published by Transparency Market Research titled, “Ethylene Propylene Diene Monomer (EPDM) Market (Application: Building & Construction, Electric Insulation, Automotive, Plastics, Lubricant Additives, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027,”
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Market Segmentation is as follows:
EPDM Market by Application
EPDM Market by Region
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