Global EPDM Rubber Market to Grow at a CAGR of 7.15% by 2030 | ChemAnalyst
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Ethylene propylene diene monomer (EPDM) is a synthetic rubber which is made from ethylene, propylene and diene co-monomer which helps in sulphur vulcanization. It can be manufactured via two processes which are solution polymerization and suspension polymerization. EPDM has various properties like heat resistance, chemical resistance, light weight, durability etc. Due to these properties, EPDM finds application in several areas including automotive, building and construction, plastic modification, wires and cables, tires and tubes, and lubricant additives.
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EPDM rubber is basically a thermoplastic elastomer which is used in applications requiring rubbery properties with light weight, high mechanical strength, and chemical resistance. In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries. Construction and automotive were among the most affected industries during the pandemic. This had an impact on the demand of EPDM for the first half of 2020. The demand for EPDM rubber fell during the coronavirus pandemic from the automotive and construction segment.
EPDM rubber is majorly related to automotive and construction hence the price is directly linked to the fluctuations in the demand of construction and automotive. In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of construction and automotive rendered a major downfall in the global EPDM rubber, hence the prices remained low for EPDM rubber during the coronavirus pandemic. Demand has picked up in the recent quarters and is projected to grow due to increasing demand from Asia Pacific and North America.
Regionally, Asia Pacific dominates the Global EPDM rubber market and holds the largest market share in FY20. Asia’s EPDM rubber market is anticipated to grow in the economies like China due to increasing demand of building and construction and furniture etc.
According to ChemAnalyst report, Global EPDM Rubber Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating global EPDM rubber market are Arlanxeo, DOW Inc, Exxon Mobil Corporation, JSR Corporation (Kumho Polychem Co. Ltd.), PetroChina Company Limited, Versalis S.p. A, SK Global Chemical Co. Ltd, Sumitomo Chemical Co. Ltd., Mitsui Chemicals, Inc. and others
“Being linked to the construction and automotive industry, the global EPDM rubber industry has shown a robust growth alongside growing population and changing consumer preference. China serves as the key growth region with sufficiently installed capacities for EPDM rubber. With new competitors emerging across the Asia Pacific EPDM rubber market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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