1-April-2019: The global ethylene propylene diene monomer (EPDM) market size is expected to reach USD 6.46 billion by 2025 expanding at a CAGR of 6.5%, according to Grand View Research, Inc. The market is mainly driven by rising demand for bio-based products and R&D investments in the field. High demand for EPDM, mainly in Asia Pacific region due to expanding end-use industries like automotive and construction, is also propelling the market growth. Increasing spending on construction and infrastructure development by federal governments due to growing population along with rapid urbanization and industrialization in developing economies will also support market growth.
Thus, growing construction activities, particularly in China and India, are expected to augment the product demand in infrastructure and construction applications. However, EPDM is expected to witness the maximum demand from the automotive application segment on account of their non-reflective and premium-quality finish. EPDM can also be used in electrical cable joints and roofing membranes as it does not pollute the runoff rainwater, thereby improving the efficiency of rainwater harvesting. All these factors together are creating lucrative growth opportunities for the global market in automotive sector.
In depth research report on Ethylene Propylene Diene Monomer (EPDM) Market
Further key findings from the study suggest:
· Asia Pacific was the dominant regional market in 2017 and is anticipated to expand further at the highest CAGR of 5.7% during the forecast period
· China is among the fastest-growing countries in the market on account of availability of potential growth opportunities for the manufacturers
· Rapidly expanding automotive sector in the country is also contributing to the growth of the global Ethylene Propylene Diene Monomer (EPDM) market
· Extensive R&D activities for the development of bio-based products have led to the creation of several improved grades, which is expected to create lucrative growth opportunities for the EPDM market in near future
Grand View Research has segmented the global Ethylene Propylene Diene Monomer (EPDM) market on the basis of application and region:
EPDM Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
· Building & Construction
· Wires & Cables
· Electrical & Electronics
· Lubricant Additive
· Plastic Modifications
· Automotive
· Tires & Tubes
· Others
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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