The ethylene propylene market proficiently consists of sales of ethylene propylene and connected services. Ethylene propylene is a form of synthetic rubber created as a terpolymer of ethylene, propylene, and a diene-component. It is impervious to heat and electricity and is non-reactive towards the acids and alkali compounds. Industrial applications involve weather-stripping and seals, glass-run channels, radiators, garden and appliance hoses, tubing, belts, electrical insulation, roofing sheaths, rubber mechanical goods, plastic impact amendment, thermoplastic vulcanizates and motor oil preservative applications.
According to the report analysis, ‘Ethylene Propylene Global Market Report 2020’ states that in the ethylene propylene global market there are several corporates which presently operating more significantly for leading the highest market growth and registering the handsome value of market share around the globe more effectively during the upcoming duration while decreasing the linked prices, advancing the applications of the product, enhancing the specifications of the production technologies, delivering the better consumer satisfaction, implementing the profitable strategies, employing the young work force and studying and analyzing the strategies and policies of the government as well as competitors includes The Dow Chemical Company, Exxon Mobil Corporation, Johns Manville, Inc., Kumho Polychem, Lanxess AG, Lion Elastomers, LLC, Mitsui Chemicals, Inc., SK Global Chemical Co., Ltd., Sumitomo Chemical Co., Ltd., and Versalis S.p.A.
The worldwide Ethylene Propylene market was worth USD 9.82 billion in 2019. It is projected to grow at a compound annual growth rate (CAGR) of 10% and reach USD 14.12 billion by 2023. Whereas, the Ethylene Propylene market has been geographically divded into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. During 2019, Asia Pacific registers for nearly 68% of the market.
The proficient use of Ethylene Propylene across several industries underwrites to the growth of the ethylene propylene market. In the automotive industry, EPDM products pledges well with metals by delivering a well-built barrier against the environment. EPDM enjoys properties such as heat resistance, scratch resistance, oil swell resistance, flame retardance, oxidation, ozone and weather aging owing to their stable, saturated polymer backbone structure. Corporates such as BRP manufacturing is delivering EPDM for automotive industries that involve under-the-hood, cabin pressure equalizing assemblies, interior trim, and striker plate blinds. Thus, the utilization of EPDM in dissimilar industries is underwriting to the EPDM market growth.
The Release of volatile organic compounds (VOCs) while producing ethylene propylene causes environmental pollution, which is perplexing the EPDM market growth. VOCs consist of dissimilar chemicals that displays adverse effects on the human health as well as the environment as they proclamation of fine particulates in the atmosphere, therefore results in the establishment of smog and decreased visibility. For instance, to avoid the harmful emission of VOC, the Hong Kong government has accepted several regulations such as products surpassing normal emission of VOCs are not enabled in the country. Thus, the augmented release of VOC from introducng ethylene propylene is restricting its market growth.
The growing demand for ethylene propylene diene monomer (EPDM) rubber introduced from bio-based feedstock acts as a key trend propelling the growth of the EPDM market. Renewable EPDM rubber utilizes raw materials such as sugar and glycerin to substitute the traditional feedstock such as isoprene and butadiene in synthetic rubber production to decrease the greenhouse emissions and to obtain sustainability. For instance, the Keltan, a Netherlands based corporate, produced the first commercial bio-based feedstock KELTAN Eco based on the renewable raw materials. Therefore, the renewable EPDM rubber is projected to augment the market share of the EPDM market.
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Ankur Gupta, Head Marketing & Communications