Growing at a rapid pace, EPDM market estimated to grow to US$7.46 bln by 2019

15-Sep-14

The EPDM Market is expected to grow at a rapid pace in the next five years, to US$7.46 bln, as per MarketsandMarkets. Asia-Pacific is currently the largest consumer of EPDM. China is the largest consumer of EPDM in this region. EPDM is a synthetic rubber known for its high quality performance in various industrial applications. EPDM rubber is preferred for its resistance to heat, weather, polar substances, and electrical insulation. The demand for EPDM in this market is driven by major applications such as automotives, plastic modification, building & construction, wires & cables, and tires & tubes. Plastic modification is the fastest growing applications for EPDM in Asia-Pacific. The largest manufacturers of EPDM in this region are PetroChina Co. Ltd. (China), JSR Corporation (Japan), Sumitomo Chemical Co., Ltd. (Japan), and Kumho Polychem Co., Ltd. (South Korea). The automotive industry is currently the biggest consumer of EPDM. 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. Its consumption is expected to increase to US$3.71 bln by 2019. Asia-Pacific is currently the largest and fastest growing consumer for EPDM for automotive applications. The EPDM market value for automotive applications in Asia-Pacific is expected to grow at a CAGR of 5.58% between 2014 and 2019. LANXESS AG (Germany), ExxonMobil Chemical (U.S.), Dow Elastomer (U.S.), Mitsui Chemical (Japan), Kumho Petrochemical (South Korea), Lion Copolymer (U.S.), Versalis (Italy), JSR Corporation (Japan), Jilin Chemical (China), SK Global Chemical (Japan), NizhnekamskNeftekhim Inc (Russia), and Sumitomo Chemical Co., Ltd. (Japan) are some of the major manufacturers of EPDM in the world.