Global ethylene propylene diene market is expected to witness significant growth over the forecast period on account of high synthetic rubber demand. Increasing EPDM application for electrical insulation, tubing, belts and plastic impact modification in automotive industry is expected to further augment the market growth. On account of the above stated, increasing automotive production in China, India, Japan, South Korea and Brazil is expected to drive EPDM demand. Increasing EPDM penetration in end-use industries such as construction and electrical & electronics is expected to further fuel the global market growth. EPDM exhibits beneficial characteristics such as resistance to ozone, heat, polar substances and weather.
EPDM is touted to be a potential substitute for thermoplastic vulcanisates (TPV) and thermoplastic olefins (TPO) and is expected to foster the global market growth. High durable synthetic rubbers demand coupled with increasing construction spending in emerging economies of Asia Pacific and Latin America are expected to remain key drivers for global market growth. Increase in synthetic rubber demand is expected to impact market growth positively owing to high EPDM usage for roofing applications. Raw material supply bottlenecks are expected to restrain the market growth and simultaneously impact profitability of EPDM manufacturers thus resulting in increased product prices.
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Asia Pacific is a major regional market and is characterized by abundant raw material availability and increasing presence of petrochemical manufacturers in China, India, Japan and Indonesia. Major companies are actively expanding their petrochemical production capacities in China and India on account of low manufacturing costs, flexible regulatory environment and availability of skilled workforce. This trend is expected to benefit the Asia Pacific market in terms of production.
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Key players in the global EPDM market include ExxonMobil Chemical Company, Mitsui Chemicals, Laxness AG and The Dow Chemical Company Other players in the market are JSR Corporation, Kumho Polychem Company, Lion Copolymer, Versalis, Jilin Chemical, SK Global Chemical and Sumitomo Chemical Company Ltd.
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