Albany, New York, October 19, 2016: The construction and automotive industries will continue to generate the highest demand for ethylene propylene diene monomer (EPDM), finds a new report added on the website of Market Research Reports Search Engine (MRRSE). The report forecasts that the EPDM market will generate revenues amounting to US$4.20 bn by 2024. This marks close to a twofold increase in global EPDM revenues over 2015. The market is projected to expand at a compounded annual growth rate (CAGR) of 5.4% from 2016 through 2024. The report featuring this analysis is titled, “Ethylene Propylene Diene Monomer (EPDM) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
Currently, the global ethylene propylene diene monomer (EPDM) market is witnessing the influx of a number of small and medium companies offering standard EPDM products, leaving the larger companies to focus on specialized and value-added products. As a result, companies that have the research acumen and budgets are now increasingly focusing on developed bio-based EPDM, which is poised to be a transformative trend in the market. The report, however, warns that an oversupply of EPDM could hurt revenue margins in the coming years as will frequent variations in raw material costs.
Consolidated Global EPDM Market Blocks Out Newcomers
The global EPDM market wears an acutely consolidated look with the large companies holding nearly 80% of the market as of 2015. Players with the highest stakes in the market are: ExxonMobil Chemical Company, Lion Copolymer LLC, LANXESS AG, The Dow Chemical Company, Kumho Polychem, and Mitsui Chemicals. However, the market is also witnessing innovation from the stables of other leading companies such as Sumitomo Chemical Co. Ltd., Firestone Building Products Company LLC, and Versalis S.p.A. The development of lighter EPDM based materials is expected to remain a focus area for leading companies in the coming years.
This trend will stem from the fact that automotive and construction sectors are increasingly showing an inclination toward lighter and more sustainable materials to enhance fuel efficiency and environmental norms.
Global Automotive Industry to Remain Sought-after End User for EPDM Manufacturers
The growth of the ethylene propylene diene monomer (EPDM) market, for the most part, will be centered on the automotive industry, finds the report. The extensive use of EPDM in components such as front and rear bumpers, door seals, rear lamp gaskets, inner tire tubes, interior panels, and belt drives will continue to ensure that manufacturers in EPDM have enough opportunities. With thousands of new automobiles hitting the roads in countries in Asia Pacific and Latin America, these two regions are expected to hold remunerative opportunities for the global EPDM market.
New revenue streams for the EPDM market are also developing in the plastics, electrical components, and construction industries. The report also forecasts that the growth of nearly all of these sectors in the Middle East and Africa will also prove beneficial to the volume and revenue growth of the global EPDM market. On the other hand, the growth of the EPDM market in Europe and North America will fail to impressive given that the construction and automotive sectors in these regions are limping back to normalcy after a period of lackluster growth.
For a comprehensive analysis of the trends and regulatory dynamics that are governing the growth of the global EPDM market, the report also profiles leading companies and maps their recent market movements.
Browse Full Global Ethylene Propylene Diene Monomer (EPDM) Market with TOC:http://www.mrrse.com/ethylene-propylene-diene-monomer-rubber
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