Ethylene-Propylene elastomers market to be driven by growth in end user industry till 2021

03-Sep-15
Ethylene-propylene elastomers market is being driven by growth in end-user industries Persistence Market Research Pvt. Ltd. The ethylene-propylene elastomer market is highly dependent on both the building construction sector and the automotive sector. Consumption in automotive applications is the major use, accounting for majority of global demand. These elastomers are used for body and chassis parts, door and window weather-stripping, radiator and heater hoses. Hence, growth in the consumption depends heavily on the growth of the automotive industry as a whole. In addition, growth in plastic modification market will be a major driving factor for the growth of the market. Furthermore, the exceptional characteristics and superior performance will boost the demand. Emerging markets also have great influence on the rise in demand and production of ethylene-propylene elastomers available on the market. However, increase in the production cost and rising awareness of associated health hazards could hamper the growth of this market. Along with the developed economies like North America and Europe, emerging markets are recording rapid growth in terms of demand and applications. Asia Pacific is one of the fastest growing markets for ethylene-propylene elastomers due to high growth in end-user industries such as automotive, lubricant additive, wire and cables.
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