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The global ethylene propylene market was worth $9.82 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10% and reach $14.12 billion by 2023.”
— Abdul Wasay
LONDON, GREATER LONDON, UK, February 19, 2020 /EINPresswire.com/ — The global ethylene propylene market is expected to grow at a rate of about 10% and reach $14.12 billion by 2023. The use of ethylene propylene across various industries contributes to the growth of the ethylene propylene market.
However, release of volatile organic compounds (VOCs) while manufacturing ethylene propylene causes environmental pollution, which is challenging the EPDM market growth.
The ethylene propylene market consists of sales of ethylene propylene and related services. Ethylene propylene is a type of synthetic rubber formed as a terpolymer of ethylene, propylene, and a diene-component. It is resistant to heat and electricity and is non-reactive towards acids and alkali compounds. Industrial applications include weather-stripping and seals, glass-run channels, radiators, garden and appliance hoses, tubing, belts, electrical insulation, roofing membranes, rubber mechanical goods, plastic impact modification, thermoplastic vulcanizates, and motor oil additive applications.
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The global ethylene propylene market is further segmented based on type and geography.
By Type – The ethylene propylene market is segmented into solution polymerization and suspension polymerization.
By Geography – The global ethylene propylene is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific ethylene propylene market accounts for the largest share in the global ethylene propylene market with around 68% of the market.
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Trends In The Ethylene Propylene Market
The increasing demand for ethylene propylene diene monomer (EPDM) rubber produced from bio-based feedstock acts as a key trend driving the growth of the EPDM market. Renewable EPDM rubber uses raw materials such as sugar and glycerin to replace traditional feedstock such as isoprene and butadiene in synthetic rubber production to reduce greenhouse emissions and to achieve sustainability.
Potential Opportunities In The Ethylene Propylene Market
With increase in demand from the automotive industry among others, the scope and potential for the global ethylene propylene market is expected to significantly rise in the forecast period.
Major players in the market are 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.
Ethylene Propylene Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides ethylene propylene market overviews, analyzes and forecasts ethylene propylene market size and growth for the global ethylene propylene market, ethylene propylene market share, ethylene propylene market players, ethylene propylene market size, ethylene propylene market segments and geographies, ethylene propylene market trends, ethylene propylene market drivers and ethylene propylene market restraints, ethylene propylene market’s leading competitors’ revenues, profiles and market shares. The ethylene propylene market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Ethylene Propylene Global Market Report 2020 from The Business Research Company for information on the following:
Markets Covered: global ethylene propylene market
Data Segmentations: ethylene propylene market size, global and by country; historic and forecast size, and growth rates for the world, 7 regions and 12 countries
Ethylene Propylene Market Organizations Covered: 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
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Time Series: Five years historic (2015-19) and forecast (2019-23).
Other Information And Analyses: PESTEL analysis, ethylene propylene market customer information, ethylene propylene market product/service analysis – product examples, ethylene propylene market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global ethylene propylene market in 2020 – countries offering most new opportunities
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Ethylene Propylene Industry: The report explains a number of strategies for companies in the ethylene propylene market, based on industry trends and company analysis.
Opportunities For Companies In The Ethylene Propylene Sector: The report reveals where the global ethylene propylene industry will put on most $ sales up to 2023.
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