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.
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.
For More Information, Click on the Link Below:-
Global
Ethylene Propylene Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
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