Press release
Ethylidene Norbornene Market Growth Factors Overview | JXTG Nippon Oil & Energy Corporation , INEOS Oxide , The Dow Chemical Company
Ethylidene Norbornene Market
Key Players:
Some of the key producers of ethylidene norbornene are JXTG Nippon Oil & Energy Corporation (Japan), INEOS Oxide (Belgium), The Dow Chemical Company, Exxon Mobil Corporation, and Uniroyal (Crompton)
Ethylidene Norbornene Market is Increasing Manufacturing of Automobiles and Expected to Fuel Demand Near Future
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Market Summary:
Ethylidene norbornene (ENB) is manufactured from vinyl norbornene and is generally used in the production of ethylene propylene diene monomer (EPDM) rubber. The global demand for ethylidene norbornene has been increasing significantly since the past few years. The growth in the demand can be primarily attributed to the increasing demand for ethylene propylene diene monomer in the automotive and construction industries. The global market for ethylidene norbornene stood at about 70 kilotons in 2018 and is expected to expand with a CAGR of over 4% during the forecast period.
Segment Analysis:
Based on grade, the global market has been segmented into industrial grade and aroma grade. The industrial grade segment is estimated to account for over ~95% of the global demand for ethylidene norbornene in terms tonnage and value, moreover, the segment is expected to be the fastest growing segment during the forecast period. Furthermore, an optimistic outlook for ethylene propylene diene monomer across the globe owing to the growth of the automotive and construction industries is expected to propel the demand for ethylidene norbornene.
Based on end-use industry, the global market has been segmented into automotive, construction, electrical & electronics, fragrance, and others. In 2018, the automotive segment accounted for the significant market share owing to the increasing demand for advanced heat and weather-resistant synthetic rubber for various applications. Likewise, the demand for ethylene propylene diene monomer in the construction industry for applications such as roofing membranes, door & window seals and others is further expected to propel the demand for ENB monomer during the forecast period.
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Regional Analysis:
The global ethylidene norbornene market, by region, has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to lead the global market followed by Europe and North America. The surge in automobile production, infrastructural activities, and growth of the construction industry are some of the prominent factors driving the demand for ethylidene norbornene across the globe. Latin America is expected to grow significantly during the forecast period. The Middle East & Africa is estimated to witness moderate growth during the forecast period.
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