Ethylene Propylene Diene Monomer (EPDM) Market is Trending with CAGR of 5.29% by 2023, Key Players- CARLISLE COMPANIES, EXXONMOBIL CORPORATION, KUMHO POLYCHEM, LANXESS AG, SUMITOMO CHEMICAL, VERSALIS S.P.A

Ethylene Propylene Diene Monomer (EPDM)Market Highlights:
The global ethylene propylene diene monomer (EPDM) market is expected to register a CAGR of 5.29% through the forecast period, 2018-2023. Asia-Pacific dominated the global EPDM market, and is also expected to register the fastest CAGR through the forecast period.

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Accelerating Automotive Production in Asia-Pacific and Parts of Europe
The properties of EPDM, such as high weather resistance, heat resistance, and vibration absorption, make it suitable for different applications in the automotive industry. EPDM, which is a synthetic rubber, is widely used in automotive parts, such as hoses, body sealing, weather-stripping, engine mounts, belts, brake parts, and windshield wipers. It is also used in mechanical goods for under-hood applications. According to International Organization of Motor Vehicle Manufacturers (OICA), the production of automobiles has increased from 90 billion units in 2015 to almost 95 billion units in 2016, and the surge is expected to continue though the forecast period as well. The automotive industry is growing at a rapid pace in the Asia-Pacific region. China, India, and Indonesia are some of the major countries in the production of cars and commercial vehicles. Europe, France, Czech Republic, Italy, Spain, and Sweden have seen good growth in the automotive production, which in turn, are expected to increase the consumption of EPDM.
Automotive is the largest end-user industry, accounting for more than 40% share in the global EPDM market.

Key Developments in the Market
• November 2017: The new official football of the World Cup 2018 is expected to contain Keltan Eco a bio-based ethylene-propylene-diene monomer (EPDM) rubber made by ARLANXEO, one of the world’s leading suppliers of synthetic rubber.
• November 2017: Eni SpA. announced the launch of Lotte Versalis Elastomers- a new integrated industrial complex for the production of elastomers in Yeosu, South Korea. Lotte Versalis Elastomers is a 50:50 joint venture between Versalis (Eni) and Lotte Chemical. The industrial complex has a nameplate capacity of 200,000 metric ton per year of EPDM, s-SBR, and BR elastomers.
• March 2017: Sumitomo Chemical neared completion of its Saudi EPDM plant, which is scaled at 75,000 metric ton in annual production

Major Players:
CARLISLE COMPANIES INC., EXXONMOBIL CORPORATION, KUMHO POLYCHEM CO., LTD., LANXESS AG, SUMITOMO CHEMICAL CO., LTD., VERSALIS S.P.A., amongst others.

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Slurry/Suspension Process the Fastest-growing Manufacturing Process Segment
Slurry/Suspension process is a modification over the bulk polymerization and it diminishes the use of solvents and solvent handling equipment, which makes it a more efficient process for manufacturing EPDM. However, solution polymerization process too is widely used, due to its versatility in making a wide range of polymers, and are hence is still the most popular choice in the EPDM manufacturing process.

Asia-Pacific to Dominate the Market Growth through 2023
Asia-Pacific is the fastest-growing market for EPDM, due to the growth of the automobile industry in India, China, Japan, Thailand, and South Korea. China dominates the Asia-Pacific EPDM market, owing to its huge production base of automotive, electronics, and plastics. North America has relatively mature economic conditions. Due to the environmental issues in Germany, many industries like automobile and plastic choose to use innovative EPDM, which leads to further increase in the demand for the EPDM market in the European region.

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This release was published on openPR.