Global Ethylene Propylene Rubber Market: Overview
The principal uses of ethylene propylene copolymers are in automobile parts, flexible seals for automobiles, weather stripping, wire and cable insulation, hoses, tire sidewalls, and roofing film.
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Ethylene propylene rubber is useful for its excellent resistance to heat, oxidation, weather, and ozone due to its stable, saturated polymer backbone structure. Ethylene propylene rubbers are widely used in the automotive industry as they display exceptional heat resistance properties and are not affected by continually changing weather.
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There are mainly two types of ethylene propylene copolymers with elastic properties: EPM, which is made with ethylene and propylene alone, and EPDM, which is based on three monomers that includes ethylene, propylene, and small amounts of a diene.
The report studies the global ethylene propylene rubber market from ground-up, which covers past performance and current growth trends to present a satisfactory overview of the growth curve of this market over the forecast period. The report is prepared after conducting primary and secondary research and after obtaining expert opinion about the growth of the industry until the end of the forecast period in 2024.
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Included in this publication is a vendor landscape wherein top companies are mentioned and are profiled for their business attributes. With the help of standard analytical tools such as SWOT analysis and Porter’s five forces analysis, the report furnishes a market attractiveness analysis from 2016 to 2024.
Global Ethylene Propylene Rubber Market: Trends and Opportunities
The high demand for ethylene propylene rubber from the automobile industry is the key factor driving the ethylene propylene rubber market. The growth of the automobile industry across several parts of the world has been benefitting the ethylene propylene rubber market. Ethylene propylene rubber is used in the production of automotive weather-stripping and seals. It is also used as a supplement in motor oils and is used in the manufacture of engine mounts, brake parts, and windshield wipers.
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Global Ethylene Propylene Rubber Market: Regional Outlook
North America, Asia Pacific, Europe, and Rest of the World are the key regions into which the global ethylene propylene rubber market is divided. Amongst these, Asia Pacific is expected to the fastest growing regional market in terms of demand for ethylene propylene rubber over the forecast period. The unprecedented growth of the automobile industry in the region as a consequence of economic growth has been benefitting this industry indirectly. With changing lifestyle and increasing purchasing power especially in China and India, vehicle ownership is on the rise. This in turn is positively influencing the ethylene propylene rubber market in this region.
Europe stands the second-largest automotive manufacturing region across the world. This is having a positive impact on the ethylene propylene rubber market in this region.
In particular, BRIC countries are expected to display significant demand for ethylene propylene rubber on account of increasing number of cars and better road conditions. It is expected that number of car users would increase in developing countries in the years to come. The growth of the automobile industry is thus expected to influence the growth of this market to a high degree.
Global Ethylene Propylene Rubber Market: Competitive Scenario
Some of the key companies in the global market for ethylene propylene rubber include LANXESS AG, ExxonMobil Chemical Company, Mitsui Chemicals, Kumho Polychem Co. Ltd., Versalis, Firestone Building Products Company LLC, JSR Corporation, Lion Copolymer LLC, and SK Global Chemical Co. Ltd.