According to a new research report published by the US Market Research Report, the annual compound growth rate of the EPDM market will reach 2.5% in the next five years. It is expected that by 2024, the global EPDM market will increase from $2.84 billion in 2019 to $3.29 billion.
EPDM rubber is a high-density rubber that is very durable and suitable for the manufacture of gaskets, electrical insulation and laminated laminates. It has very good elasticity at both high and low temperatures and can be processed into a very smooth surface with strong abrasion resistance, tear resistance, solvent resistance and high temperature resistance.
It is said that the automotive industry in 2016 is the largest market for EPDM, accounting for 53.28% of global consumption. It is estimated that from 2017 to 2023, its compound annual growth rate will reach 4.16%. In 2015, the construction industry's market share in the EPDM market exceeded 24.78%, making it the second largest application market. The construction industry's compound annual growth rate is expected to be 3.16% from 2017 to 2023. Affected by raw materials, market competition and economic conditions, EPDM prices will fluctuate greatly from 2022 to 2017. It is expected that prices will continue to decline in the next few years. As competition intensifies, the price gap between different brands will gradually narrow.
The research report pointed out that the industrial concentration of EPDM is quite high. Leading companies in the EPDM industry are the introduction of LANXESS, ExxonMobil, Dow DuPont and Japan Synthetic Rubber (JSR) and Kumho Chemical. LANXESS is currently the world's largest EPDM producer, with a market share of 25.18% in 2016. In 2016, the top four companies mentioned above accounted for 64.69% of the global market share.