EthylenePropylene Diene Monomer (EPDM) Market: Key Highlights
· Theglobal ethylene propylene diene monomer (EPDM) market was valued at ~ US$ 3.8 Bn in2018, and is anticipated to expand at a CAGR of ~ 6% duringthe forecast period.
· Theglobal ethylene propylenediene 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.
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KeyDrivers 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.
Building& Construction Sector to Offer Attractive 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.
· Inthe automotive industry, EPDM is used in hydraulic brake systems, wire andcable harnesses, tubing, window spacers, radiators, belts, weather strippingand seals, glass-run channels, and door, window, and trunk seals.
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HighRisk of Substitution to Hamper EPDM Market Growth
· Theinert nature 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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AsiaPacific 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.
TopFew Players Accounted for ~ 50% of EPDM Market Share in 2018
Theglobal EPDM market is dominated by a few major players, and is consolidated innature. The top six manufacturers - LANXESS AG, ExxonMobil ChemicalCompany, Kumho Polychem, Mitsui Chemicals, The Dow Chemical Company, and LionCopolymer LLC - held ~ 70% ofthe market share in 2018. Other key companies that manufacture ethylenepropylene diene monomer are Sumitomo Chemical Co. Ltd., Versalis S.p.A., SKGlobal Chemical Co. Ltd., and Johns Manville Inc.
· InApril 2015,Lanxess started production of EPDM at its new plant at Changzhou in the Jiangsuprovince of China. The new plant, with 160,000 tons of annual productioncapacity, is located in Changzhou Yangtze Riverside Industrial Park. The plantproduces ten premium grades of EPDM, tailored to the requirements of customersin Asia, especially China. However, in 2016, Lanxess AG planned to stop theproduction of EPDM rubber at its facility in Marl, the U.K.
