Ethylene Propylene Diene Monomer (EPDM)Market: Key Highlights
· Theglobal ethylene propylene diene monomer (EPDM) market was valued at ~ US$3.8 Bn in 2018, and is anticipated to expand at a CAGR of ~ 6% duringthe forecast period.
· Theglobal ethylene propylene diene monomer market isdriven by the rise in the demand for EPDM in automotive applications such asrear-lamp gaskets, hoses, tire sidewalls, inner tire tubes, front and rearbumpers, and braking systems.
· AsiaPacific accounts for a major share of the global ethylene propylene dienemonomer market, led by an increase in the demand for EPDM for use inthermoplastics modification in the region.
Key Drivers of the EPDM Market
· Ethylenepropylene diene monomer, a type of synthetic rubber, is primarily used inautomotive, roofing, and plastic modification applications. Ethylene propylenediene monomer is extensively employed in the automotive industry, owing to itschemical properties such as high temperature sustainability, and resistance toheat, harsh weather conditions, ozone, and steam.
· Highlyvolatile prices of natural rubber is a major factor that has compelled rubberconsumers across the globe to shift from natural rubber toward synthetic rubbersuch as ethylene propylene diene monomer.
· Ethylenepropylene diene monomer is widely used in the construction and civilengineering sector in applications such as mounting structures, bridgebearings, expansion joints, pipe couplings, water barriers, roofing membranes,rubberized asphalt, and concrete texturing.
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Building & Construction Sector to OfferAttractive Opportunities
· Ethylenepropylene diene monomer is an extremely durable, synthetic-rubber, roofingmembrane that is widely used in low-slope buildings across the globe. Its twoprimary ingredients, i.e. ethylene and propylene, are derived from oil andnatural gas.
· Ethylenepropylene diene monomer is widely used in the building & constructionindustry, due to its properties such as resistance to cracks, water, andtemperature. Thus, it is suitable to be used in roofing solutions in theconstruction industry.
· Ethylenepropylene diene monomer offers properties such as high electric resistance andexcellent electric insulation. Thus, it is used in various applications in theelectric industry. EPDM is widely employed in the manufacture of low- andmedium-voltage cable insulations, wires, and submersible water pumps, due toits water-repellent property.
· In theautomotive industry, EPDM is used in hydraulic brake systems, wire and cableharnesses, tubing, window spacers, radiators, belts, weather stripping andseals, glass-run channels, and door, window, and trunk seals.
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High Risk of Substitution to Hamper EPDM MarketGrowth
· The inertnature of EPDM, which reduces the adherence of the material when used inautomotive and plastic applications, and high costs of installation of EPDMroofing systems are expected to hamper the demand for ethylene propylene dienemonomer in these applications during the forecast period. Furthermore, ethylenepropylene diene monomer exhibits unsatisfactory compatibility with most oils,kerosene, gasoline, aromatic and aliphatic hydrocarbons, concentrated acids,and halogenated solvents.
· Theabove-mentioned disadvantages of EPDM augment the usage of other elastomers,including NBR, polyurethane-based, and HNBR elastomers, in variousapplications.
· Furthermore,the oversupply of ethylene propylene diene monomer led by the rise inproduction capacities acts as a major restraining factor for players operatingin the global ethylene propylene diene monomer market. EPDM remainsoversupplied in Asia Pacific, with most plants in the region running at reducedpace. Major suppliers had to cut the prices of EDPM to boost buying sentiments.In China, ethylene propylene diene monomer prices have dropped by 8.5% sinceearly October 2018, to reach US$ 2,150/ton on December 19,2018.
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Asia Pacific a Prominent EPDM Market
· AsiaPacific dominated the global ethylene propylene diene monomer market in 2018.Growth of the automotive industry in developing economies such as China andIndia is likely to propel the ethylene propylene diene monomer market in theregion during the forecast period.
· Theethylene propylene diene monomer market in North America is expected to expandat a significant pace during the forecast period, due to the high demand forlubricant additives, and rapid growth of the plastic, rubber, and automotiveindustries in the U.S. and Canada.
· Thedemand for EPDM roofing is rising in Spain, Italy, the U.K., and countries inWestern Europe, due to the increasing demand for waterproofing solutions foruse in non-residential and commercial buildings in these countries.
· Increasingdemand for eco-friendly products as substitutes for PVC is projected to drivethe TPE sector in North America. This, in turn, is likely to fuel the ethylenepropylene diene monomer market in the region from 2019 to 2027.
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Top Few Players Accounted for ~ 50% of EPDM MarketShare in 2018
The global EPDM market is dominated by a few major players, and isconsolidated in nature. The top six manufacturers - LANXESS AG, ExxonMobilChemical Company, Kumho Polychem, Mitsui Chemicals, The Dow Chemical Company,and Lion Copolymer LLC - held ~ 70% of the market share in2018. Other key companies that manufacture ethylene propylene diene monomer areSumitomo Chemical Co. Ltd., Versalis S.p.A., SK Global Chemical Co. Ltd., andJohns Manville Inc.
· In April 2015, Lanxessstarted production of EPDM at its new plant at Changzhou in the Jiangsuprovince of China. The new plant, with 160,000 tons of annualproduction capacity, is located in Changzhou Yangtze Riverside Industrial Park.The plant produces ten premium grades of EPDM, tailored to the requirements ofcustomers in Asia, especially China. However, in 2016, Lanxess AG planned tostop the production of EPDM rubber at its facility in Marl, the U.K.
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