A new study by market research reports says the EPDM market will grow at a compound annual rate of 2.5 percent over the next five years.
The global EPDM market is expected to grow from $2.84 billion in 2019 to $3.29 billion by 2024.
Epdm is a kind of high density rubber with excellent durability and is suitable for the manufacture of gaskets, electrical insulation and laminated laminates.
At high and low temperatures are very good elasticity, can be processed into a very smooth surface, with a strong wear resistance, tear resistance, solvent resistance and high temperature resistance performance.
It is said that the automobile industry was the largest market for EPDM in 2016, accounting for 53.28% of global consumption.
It is expected to grow at a compound annual rate of 4.16 percent from 2017 to 2023.
In 2015, the construction industry occupied more than 24.78% of the EPDM market, making it the second largest application market.
The construction sector is expected to grow at a compound annual rate of 3.16 percent from 2017 to 2023.
Influenced by raw materials, market competition and economic conditions, EPDM prices will fluctuate greatly from 2022 to 2017.
Prices are expected to keep falling for several years.
With the increasing competition, the price gap between different brands will gradually narrow.
The research report points out that the industrial concentration of EPDM is quite high.
EPDM industry leaders include lanxine, exxonmobil, dow dupont and Japan synthetic rubber (JSR), as well as kumho chemical.
Lanxess is currently the world's largest producer of EPDM, with a market share of 25.18% in output in 2016.
The top four companies accounted for 64.69 percent of the global market share in 2016.