Driven by plastic modification segment, EPDM market to grow at CAGR of 6.59% uptil 2019

01-Oct-14

The EPDM market is set to grow at a CAGR of 6.59% between 2014 and 2019 and is expected to generate the global market size in terms of value with US$7.46 bln by 2019, as per Research and Markets. The report EPDM considers its six commonly used applications, such as automotive, building & construction, plastic modification, wires & cables, lubricant additives, and tires & tubes. The global EPDM industry is witnessing high growth on the account of increasing applications, technological advancements, and growing demand in the Asia-Pacific region. EPDM are largely used in industries such as automotive, building & construction, plastic modification, wires & cables, lubricant additives and tires & tubes. The growth for EPDM market is driven by moderate growth in the big end-user industries and other midsized end-user industries. Plastic modification market growth is one of the major market drivers for EPDM. Rise in the cost of EPDM manufacturing and increasing awareness of health hazards associated with EPDM based products are the major stumbling blocks in its market. Automotive is the largest application for EPDM across the world. The market for the same is estimated to generate market size based on value with US$3.71 billion by 2019. EPDM based products are used for various purposes in different applications such as hoses, mechanical goods for under-hood applications, body sealing, weather-stripping, belts, engine mounts, brake parts and windshield wipers. EPDM are preferred rubbers for these applications due to their high resistance to heat and weather, and vibration dampening properties.