Increasing synthetic rubber demand in various end-use industries is expected to drive global ethylene propylene diene monomer (EPDM) market over the next six years. Global synthetic rubber industry has witnessed a surge in EPDM membranes demand for roofing applications in low-slope buildings. Increasing construction and renovation activities coupled with growing demand for durable synthetic rubbers is estimated to fuel market growth over the forecast period. This is further supported by increasing EPDM application scope in automotive industry with uses such as insulation, engine hose and door & window seals. The market is expected to witness restricted growth on account of volatile raw material prices which might also have a negative impact on the demand-supply scenario over the next six years. Development of bio-based EPDM by companies such as Lanxess is expected to create immense opportunities for market growth over the forecast period.
On the basis of end-use industries, global EPDM market has been segmented into automotive, building & construction, wires & cables, adhesives and tires & tubes. Automotive was the largest end-use segment in 2013 and is estimated to witness the fastest growth over the forecast period. Expanding automotive industry in countries such as Slovakia, Mexico and Indonesia along with existing major automotive manufacturers such as China, U.S., Germany and Japan is anticipated to have a positive impact on EPDM market growth. Building & construction is also anticipated to witness above average growth rates especially in emerging economies of China, India, Brazil, South Africa and Mexico.
Asia Pacific was the largest regional EPDM market in 2013 and is estimated to continue its dominance over the next six years. The market in this region is characterized by abundant raw material availability owing to the establishment of several petrochemical manufacturing facilities in China, India, Japan and Indonesia. Growth of automotive parts manufacturing industry along with favorable regulatory scenario is estimated to drive EPDM market growth in this region over the forecast period. North America and Europe are relatively mature economies and are expected to witness stagnant growth rates over the next few years.
Global EPDM market is moderately consolidated with increasing investment in R&D for developing environment friendly and bio-based routes for manufacturing finished products with improved durability and over-all economics. Major players in this market include ExxonMobil Chemical Company, The Dow Chemical Company, Mitsui Chemicals, and Lanxess AG. Other players in the market include Firestone Building Products Company, Sumitomo Chemical Company, Lion Copolymer, JSR Corporation and Kumho Polychem Company.
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