Ethylene propylene diene monomer market Analysis, Trends & Forecast, 2019 – 2024

According to a new research report by Global Market Insights, Inc. Ethylene propylene diene monomer market size is expected to reach USD 4.28 billion by 2024. Surge in the number of construction and building revamp activities across the world will drive Ethylene propylene diene monomer market size. Increasing investments in the automotive sector along with proliferating demand for luxury vehicles will push the industry growth. Reports estimate that in 2015, automotive sector had dominated the application base and constituted more than 40% of the global EPDM market share.

The growth can be accredited to continuous manufacturing of automotive parts such as rear lamp gaskets, belt drives, door seals, tire sidewalls, tire sidewalls, braking systems, inner tire tubes, and interior panels of the car. Ethylene propylene diene monomer market size from the construction sector is projected to increase over 6% in terms of revenue by 2024. The material has the ability to resist cold, heat, air pollution, and sunlight due to which it has gained enormous acceptance in construction sector.

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Rising construction activities in BRIC nations along with surging product demand across civil structures are the major factors which help drive industry trends. The accelerating investments in infrastructure development by manufacturers to fulfill the rising need for industrial goods from a growing population will augment EPDM industry size.

These polymers are extensively used in thermoplastic vulcanizates (TPV) and thermoplastic olefins (TPO). Lightweight and improved strength characteristics make TPO the most favorable choice for construction and automotive applications. This, in turn, aids the automotive sector to abide by several stringent government policies aimed at lowering carbon emissions produced by vehicles, reinforcing EPDM market outlook.

Reports estimate that electrical and electronics applications contributed over USD 140 million towards Ethylene propylene diene monomer market size in 2015 owing to outstanding properties such as weather and moisture resistance which makes the product desirable to use. These materials also perform efficiently well in high temperatures and high voltages and are often the material of choice for power cables and electrical appliances.

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In terms of the regional landscape, Asia Pacific Ethylene propylene diene monomer market is expected to gain substantial proceeds over an estimated timeline and India Ethylene propylene diene monomer market is projected to reach USD 130 million, with a steady 7% CAGR between 2016-2024. With the rising expansion of urbanization and industrialization in the region, China and India could be the major revenue contributors toward the industry growth.

 Reports estimate that U.S. Ethylene propylene diene monomer market will be valued at over USD 940 million by 2024 owing to the increasing renovation activities in the residential and commercial infrastructure. Consistent investment by customers toward high-end luxury vehicles coupled with novel advancements in the automotive sector will favor Ethylene propylene diene monomer market forecast considerably.

The high demand for reliable, affordable, and lightweight vehicle models and growing consumer preferences toward more comfort and aesthetics designs will propel industry size from automotive sector. In addition, implementation of stringent policies of government towards environmental regulation has encouraged the adoption of sustainable products in the region.

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The rising efforts by the industry players to gain dominance across several geographies will further accelerate EPDM industry trends. Key market players include SK Global Chemical Co., Exxonmobil Chemical Company, Mitsui Chemicals Inc., Petrochina Co. Ltd., Versalis, among others. Growing preferences of manufacturers for sustainable EPDM products will open new opportunities for the market in the coming years.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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