Global EPDM market projected to reach US$7.2 bln by 2020, at a CAGR of 5.4%

21-Jan-16

The global EPDM market size, in terms of value, is projected to reach $7.2 Billion by 2020, at a CAGR of 5.4% between 2015 and 2020, as per Research and Markets. The increase usage of EPDM in plastic modification applications, increasing domestic consumption in China, and continuous expansion activities undertaken by companies are key factors driving the growth of the global EPDM market. Currently, Asia-Pacific is the largest market for EPDM, accounting for around 40% of the global market size, by value and volume, in 2014. Among all the countries, China dominates the EPDM market in 2014, closely followed by U.S. Malaysia is the fastest-growing market in the world and is expected to surpass China and Japan in the EPDM market in the near future. Along with the rising demand of EPDM in the Asia-Pacific region, international EPDM manufacturing companies find it reasonable to manufacture EPDM products in the Asia-Pacific region than other regions due to the lower cost of labor.