The global ethylene propylene diene monomer (EPDM)
market has been foreseen by Transparency Market Research (TMR) to
exhibit a significant level of consolidation. However, the
consolidated nature of the market could mellow down as a vast count
of companies consider ventures, also intensifying the degree of
competition. The industry could also be influenced by mergers and
acquisitions and high focus on less developed markets for favorable
growth prospects. The Dow Chemical Company, Lion Copolymer LLC,
Mitsui Chemicals, LANXESS AG, Kumho Polychem, and ExxonMobil Chemical
Company have been marked as the top six players securing a colossal
share of approximately 80.0% in the world market.
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According to TMR, the global EPDM market has been
foretold to draw a revenue valuation of US$4.20 bn by 2024 at a CAGR
of 5.4% from the opening year of the forecast period. In 2015, the
market is analyzed to have raked in a US$2.63 bn. By end-user
analysis, the automotive sector could take a leading position in the
international market until 2024 as it had accounted for a more than
40.0% share in 2015. Holding a similar share in the same year as that
of the automotive market, Asia Pacific has been envisioned to
dominate other regions during the forecast period.
Focus Shifts to Less Developed Economies for
Moneymaking Prospects
The changing preference from traditional to bio-based
products and a substantial surge in demand from the automotive and
construction sectors have been expected to propel the growth of the
global EPDM market. With a breakneck influx of small as well as
medium-sized firms in the market, a host of new opportunities could
take birth as the competition becomes more aggressive. An impressive
number of EPDM manufacturers have been anticipated to extend their
reach to emerging nations where the demand for private and public
automobiles and construction projects are experiencing a perpetual
rise.
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Electrical and plastics (polymer modification) are
the other sectors that could give some momentum to the growth of the
global EPDM market. The significant demand for thermoplastic
vulcanizates (TPV) and thermoplastic olefins (TPO) in a range of
sectors such as consumer goods, medical devices, packaging, and
construction has been predicted to bode well for the market. In the
coming years, vendors could expect lucrative growth opportunities
from the thermoplastic modification industry.
EPDM Oversupply and Fluctuating Raw Material Cost
Unsettle Growth
The more than required supply of EPDM due to
humungous capacity additions by top companies such as Mitsui
Chemicals and LANXESS after the late economic depression could impede
the growth of the global EPDM market. This could also add pricing
pressures on currently operating industry players. Other than that,
raw material cost fluctuations have been projected to discourage the
demand in the market.
Nonetheless, the EPDM market is the one which finds
expansive growth prospects in developing regions such as Asia Pacific
and Latin America as opposed to the common scenario of developed
regions taking the charge. As the international market loses its
consolidated nature, new entrants have been envisaged to be exposed
to sustainable growth opportunities birthed in the process. More
growth opportunities could take precedence as the demand for EPDM
rubbers increases in the booming automotive sector. South Korea,
Thailand, India, and China have been studied to be the major
consumers of EPDM.
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The study presented here is based on a report by TMR,
titled “Ethylene Propylene Diene Monomer (EPDM) Market (End User -
Building and Construction, Electrical, Plastics, Automotive,
Lubricant Additive, and Rubber Goods) - Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global EPDM market has been segmented as
presented below:
Global EPDM Market: End-user Analysis
- Building and Construction
- Electrical
- Plastics
- Automotive
- Lubricant Additive
- Rubber Goods
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