Covid-19 Impact on Ethylidene Norbornene Market
• Ethylidene norbornene is a colorless liquid intermediate monomer with an odor of turpentine. It is produced from vinyl norbornene. Ethylidene norbornene is generally used in the production of ethylene-propylene diene monomer (EPDM) rubber.
• Ethylidene norbornene is used in the production of ethylene-propylene diene monomer (EPDM) elastomers that are employed in the production of synthetic rubber (EPDM rubber). Ethylene-propylene diene monomer rubber is used in various applications such as automotive vehicles, food containers, and electrical & electronic equipment.
Key Drivers of Ethylidene Norbornene Market
• Excellent properties of ethylidene norbornene are boosting its application in industries such as automotive, construction, electrical & electronics, and fragrance. Ethylidene norbornene possesses strong chemical and mechanical properties such as fast curing, high tensile strength, and high wear & weather resistance. Consequently, ethylidene norbornene is used in diverse industry verticals such as automotive, electrical & electronics, and building & construction.
• Increase in demand for ethylidene norbornene in automotive and construction industries is expected to augment the ethylidene norbornene market during the forecast period. Rapid urbanization and increase in production & sales of automotive vehicles in developing and developed economies are projected to boost the demand for ethylidene norbornene in various end-use industries, thereby driving the market.
Restraints of Ethylidene Norbornene Market
• Fluctuation in prices of raw materials is projected to hamper the global ethylidene norbornene market. Raw materials such as vinyl norbornene, cyclopentadiene, and 1, 3 butadiene are used in preparation of ethylidene norbornene materials. These raw materials are experiencing unstable prices, as the supply chain has been disrupted due to the COVID-19 pandemic. These raw materials experience periodic fluctuation in demand. This significantly affects their prices.
• Lack of universal directives pertaining to applications of ethylidene norbornene is likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of ethylidene norbornene. Companies find it difficult to comply with these country-wise directives and legislations. This can discourage investment in the ethylidene norbornene market, thereby hampering the market.
• Lack of awareness and low rate of adoption of ethylidene norbornene in several developed and underdeveloped countries are also projected to restrain the market during the forecast period
COVID-19 Impact on Ethylidene Norbornene Market
• Market players operating in the ethylidene norbornene market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these materials. Thus, demand for ethylidene norbornene market is expected to decline in 2020.
• The COVID-19 outbreak is hampering the demand for ethylidene norbornene in several applications. Governments of various countries across the globe enforced lockdowns to curb the spread of the coronavirus. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. This is hampering demand for ethylidene norbornene.
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• In terms of region, the global ethylidene norbornene market can be split into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America
• In terms of consumption, Asia Pacific is expected to hold major share of the market during the forecast period owing to the rapidly expanding building & construction industry in the region. Rise in disposable income and improvement in standard of living of the people in various countries in Asia Pacific are boosting the demand for automotive vehicles. This, in turn, is augmenting the demand for ethylidene norbornene.
• Rapid expansion in the building & construction industry in China, India, Japan, and South Korea is expected to increase the consumption of ethylidene norbornene in the building & construction end-use industry, thereby boosting the market in these countries
• The market in North America is also expected to expand at considerable pace during forecast period owing to presence of well-established automotive players in the U.S. and Canada
• Europe is expected to hold vital share of the global ethylidene norbornene market during the forecast period owing to presence of many automotive players in the region and increase in renovation and reconstruction activities in the construction industry
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Prominent Market Players Operating in Global Ethylidene Norbornene Market
Major players operating in the global ethylidene norbornene market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
• INEOS Oxide
• Dow Chemical
• Exxon Mobil Corporation and Uniroyal (Crompton)
• Ningbo Titan Unichem Co., Ltd (China)
• CHEMOS GmbH & Co. KG (Germany)
• Crescent Chemical Company (US)
• Beyond Industries Limited (China)
• Simagchem Corp (China)
• Hangzhou Dayangchem Co. Ltd (China)
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