Ethylene Propylene Diene Monomer (Epdm) Market Size Is Expected to Reach Usd 4.28 Billion by 2024

Ethylene Propylene Diene Monomer (EPDM) Market size is expected to reach USD 4.28 billion by 2024; according to a new research report by Global Market Insights, Inc.

Global EPDM market size is mainly categorized on primary applications which include construction, electrical & electronics, plastics, automotive, lubricant additives and others. Automotive dominated the application base and accounted for over 40% of the global EPDM market share in 2015. It is widely used in manufacturing automobile components such as bumpers, door seals, and braking system. Growing consumer demand for automotive and wide range of applications in this space is likely to ensure continued gains in this sector.

Construction, on the other hand is expected to help demand grow rapidly (over 6%) in terms of revenue by 2024. Increasing construction spending in BRIC nations is anticipated to propel EPDM market share for construction applications.

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Along with the above applications, increasing potential for polymer modification in the industrial sector will boost demand. Global personal & commercial automotive sales were approximately 90 million units in 2015.

It is also a key raw material used in plastic modification in thermoplastic olefins (TPO) and thermoplastic vulcanizates (TPV). Light-weight and increased strength characteristics of TPO make it attractive for automotive and construction sectors. This in turn helps the automotive industry to abide by various stringent government regulations aimed at reducing carbon emissions produced by vehicles.

Global production capacity has witnessed steady expansion by industry players, resulting in product oversupply, which may hinder EPDM market price trends. Petroleum based products are required in production and therefore fluctuating crude oil prices may negatively impact industry growth. However, the development & commercialization of...