“The report provides insights into the important ethylene propylene diene monomer markets in the Asia-Pacific region. The Asia-Pacific market has been segemented on the basis of application and geography. The market data for these types have been provided with respect to volume (KT) and value (USD Million). The market size of ethylene propylene diene monomer in Asia-Pacific was estimated at $2,238.4 million in 2013 and is projected to grow at a CAGR of 8.1% from 2014 to 2019. The data provided in the report are based on the Asia-Pacific demand for the ethylene propylene diene monomer.
The total market for ethylene propylene diene monomer in Asia-Pacific has been analyzed to provide an idea about the current proceedings in the industry at the commercial level. The study provides value chain analysis with respect to ethylene propylene diene monomer raw materials, manufacturers, and end-users. The value chain includes the key contributors to the materials market at different stages, from product development to end use. In addition, it represents the top players who are contributing to the Asia-Pacific ethylene propylene diene monomer market.
The impacts of different market factors, such as drivers, inhibitors, and opportunities, have also been illustrated in the report. This provides insights about the key drivers such as the growing demand from the automotive industry and increasing demand for modified elastomers; and inhibitors such as growing competition from substitutes in the building & construction industry and increasing environmental concerns in the Asia-Pacific region.
The Asia-Pacific ethylene propylene diene monomer market has been classified based on different applications. The important applications of EPDM include automotive, building & construction, plastic modification, tires & tubes, wire & cables, and lubricant additive, among others. The automotive industry and building & construction industries are expected to show rapid growth in demand for EPDM, in the coming years.
The key companies in this market are Mitsui Chemicals (Japan), Kumho Petrochemicals (South Korea), JSR Corporation (Japan), SK Global Chemical Co. Ltd. (South Korea), Jilin Chemicals (China), and Sumitomo Chemical Co. Ltd. (Japan), among others. These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage, and thereby serve the customers more effectively. Investments in expansion of plant capacities, followed by acquisitions, were the most preferred strategies by the top players in 2012 & 2013. Their strategies to capture the market in developing economies include expansions and agreements.
The Asia-Pacific region is the largest contributor to the global EPDM market, having accounted for a market share of 22.5%, in terms of consumption, in 2013. China is the leading segment in the Asia-Pacific ethylene propylene diene monomer market, on the basis of consumption, mainly owing to the availability of cheaper raw materials and low labor costs in the country.
