Market Synopsis:
Ethylidene norbornene is used in the production of ethylene propylene diene monomer (EPDM) rubber, which finds utility in non-tire synthetic rubber applications. It offers key advantages such as high tensile strength, fast curing, and high wear weather resistance, which is likely to pave the way for rising demand in the nearby future. It has been highlighted by Market Research Future (MRFR) in its recent study that the global ethylidene norbornene market is set to mark a CAGR of 4% through the evaluation period 2020 to 2027.
The product has penetrated across major industry verticals such as automotive, building construction, and electrical and electronics. These industries are anticipated to witness boom over the next few years, thus, catalyzing the expansion of the ethylidene norbornene market over the review period. It has been assessed that the increasing purchasing power in the developed and developing economies is likely to generate demand across the end-user industries. This, in turn, is poised to support the proliferation pf the ethylidene norbornene market over the next couple of years. Also, the rising demand for products such as gaskets, roof sheeting, seals, etc. are likely to catalyze market growth in the foreseeable future.
The product is expected to exhibit rising applications in the years to come. For instance, it has paved its way into the fragrance and flavors industry as it is also used as a scent carrier. It is projected to intensify the growth rate of the market for the next couple of years. However, on the contrary, the lower price of the alternatives such as epoxy resins can hold the growth of the ethylidene norbornene market over the next couple of years.
Market Segmentation:
On the basis of grade, the global ethylidene norbornene market has been bifurcated into aroma grade and industrial grade.
On the basis of end-use industry, the ethylidene norbornene market has been segmented into automotive, electrical electronics, fragrance, construction, and others.
Regional Analysis:
The regional assessment of the global ethylidene norbornene market is conducted across five major regional segments. These segments are North America, Asia Pacific (APAC), Europe, Latin America, and the Middle East Africa (MEA). Asia Pacific is anticipated to exhibit substantial growth over the next few years. The developments of the economy in the emerging economies is likely to open new avenues of growth for the market players. This, in turn, is projected to impact the expansion of the ethylidene norbornene market positive in the years to come. The rising production capacity of automobiles in the region is projected to accelerate the revenue growth of the players of the regional market across the review period. Europe and North America are important revenue pockets and are likely to contribute substantially to the development of the regional market in the foreseeable future.
Competitive Dashboard:
JXTG Nippon Oil Energy Corporation INEOS Oxide, Exxon Mobil Corporation and Uniroyal (Crompton), and Dow are the major players participating in the landscape of the ethylidene norbornene market. Other players expected to contribute to market growth over the next couple of years are Ningbo Titan Unichem Co., Ltd (China), Crescent Chemical Company (US), abcr GmbH (Germany), CHEMOS GmbH Co. KG (Germany), Beyond Industries Limited (China), Hangzhou Dayangchem Co. Ltd (China), Simagchem Corp (China), and Ningbo Yonghua Resin Co., Ltd (China). The ethylidene norbornene market share is expected to exhibit an increase in demand, which is likely to be capitalized by these players by debottlenecking their production capacity. Investments are anticipated to increase in regional and facility expansion in the years to come. Growth strategies such as mergers acquisitions, collaborations, research development, technological developments, etc. are prognosticated to be leveraged by these players in the foreseeable future.
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