Ethylene Propylene Diene Monomer Market will generate admirable revenue by 2024

Europe ethylene propylene diene monomer (EPDM) market is predicted to record significant gains over the coming timeframe. The increasing demand for EPDM across the construction sector will stimulate the UK EPDM industry trends, which is predicted to exhibit a CAGR of more than 4% over the coming years of 2016 to 2024.

North America EPDM industry worth USD 600 million in 2015, will register a considerable growth over the coming years. Surging renovation activities in the commercial and residential infrastructure will also fuel the demand for EPDM. U.S. EPDM industry is projected to surpass a revenue of USD 940 million by 2024.

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According to Global Market Insights, Inc., "Global ethylene propylene diene monomer (EPDM) market value worth USD 2.68 billion in 2015, will register an annual growth rate of more than 5% over the period of 2016-2024."

The rise in the number of the construction and renovation activities across the globe will drive the industry size. Furthermore, rapidly expanding TPO sector is projected to favorably impact EPDM market trends over the years to come. Automotive, construction, plastics, lubricant additives, and electrical & electronics are the primary application areas of EPDM industry.

Electrical & electronics application worth USD 140 million in 2015, is anticipated to record a significant growth over the coming seven years, owing to the desirable mechanical and thermal properties of EPDM. Construction application will exhibit an annual growth rate of more than 5%, mainly driven by surging product demand across civil structures along with its ability to resist cold, air pollution, heat, and sunlight. In addition, the prominent use of EPDM for roofing will also influence the ethylene propylene diene monomer industry size noticeably.

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Considering the regional landscape, Asia Pacific ethylene propylene diene monomer market will exhibit an annual growth rate of more than 6% over the period of 2016 to 2024. The escalating expenditure on infrastructure development to fulfill the mounting need of the exponentially growing population will augment the industry growth. India and China will be the major revenue contributors of the region. Additionally, rapidly expanding automotive sector across Indonesia will also positively influence APAC EPDM market size.

Leading key players are

The industry is witnessing consolidation are DOW Elastomers, Carlisle Companies Inc., Mitsui Chemicals Inc., SK Global Chemical Co. Ltd., Exxonmobil Chemical Company, Versalis (Polimeri Europa S.P.A.), Petrochina Co. Ltd.

Read More: https://www.gminsights.com/industry-analysis/ethylene-propylene-diene-monomer-EPDM-market

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