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There is a growing demand for synthetic rubber in the automotive industry due to the fluctuating prices of natural rubber. Developing countries are the major consumers and producers of synthetic rubber. For instance, there is an increasing demand for synthetic rubber from the major end-user industries in China and the country is also one of major producers of synthetic rubber. EPDM industry analysis identifies this growing demand for synthetic rubber as one of the major factors that will have a positive impact on the EPDM market growth, which according to Technavio’s market research analysts, will grow at a CAGR of around 8% by 2021.
The emergence of commercialization and production of bio-based EPDM is one of the latest trends that will gain traction in the EPDM market in the coming years. Bio- based products are extracted from the natural biodegradable resources. This will increase its demand due to its recyclable and eco- friendly factors. Additionally, the usage of bio-based EPDM will also decrease the dependence on fossil fuel and also reduce greenhouse gas emissions and carbon footprint. The vendors in this market are increasingly focusing on developing bio-based EPDM since it will aid the automotive industry reduce carbon emissions.
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The market is characterized by the presence of many large and small vendors and appears to be highly competitive. The vendors in the market are competing on the basis of product innovation, price, and product quality. They are highly focusing on enhancing their geographical presence with large production facilities. Additionally, these vendors are also following M&A strategies to improve their product portfolio.
The leading vendors in the market are -
The other prominent vendors in the market are Covestro, Carlisle, Firestone Building Products, Jilin Xingyun Chemical, KUMHO PETROCHEMICAL, PetroChina, and SK global chemical.
The automotive segment accounted for the major shares of this market since it is replacing traditional and natural rubber in a wide range of applications. The increase in sales of luxurious cars and passenger and commercial vehicles across the world owing to the rise in the spending capacity of the people in the developing countries of Asia will fuel the market’s growth prospects in this segment.
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. The growth of the automotive industry in the developing economies of the region, the rise in manufacturing of automotive parts due to availability of raw material, and the presence of favorable government regulations, will fuel the market’s growth in this region.
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This upcoming market research report on the EPDM market is an integral part of Technavio’s chemicals and materials portfolio and offers key insights into the market space for specialty chemicals. Technavio’s insightful market research reports also present insights on the market size, forecast, trends, and industry analysis to help clients build effective growth strategies.
Additionally, by implementing an extensive research approach of quantitative and qualitative data collection methods and assessing the changing demand-supply landscape of the speciality chemicals sector, the upcoming market research report on the EPDM market offers insights into the key market drivers, trends, and eminent challenges that will influence the growth of the key suppliers in this market space. This upcoming market research report on the EPDM market also covers vendors like ExxonMobil Chemical Company, PetroChina Co. Ltd, SK Global Chemical Co. Ltd, Mitsui Chemicals Inc., and Carlisle Companies Inc.
This market research report on the EPDM market also takes into account the growth of related market like barytes market, which is anticipated to post an impressive CAGR of above 4%, respectively during the forecast period. According to our industry experts, the demand for EPDM is directly proportional to the growth in the automotive industry. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the EPDM market also covers geographies like APAC, North America, Europe, and ROW.
The upcoming industry report on the EPDM market also offers insights into fast-growing segments within the chemicals and materials industry, including sectors like metals and minerals and industrial gases. Additionally, the report also presents insights into the changing competitive landscape and gives clients a complete view of the future direction of the chemicals and materials industry.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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