The global Ethylene & Propylene Market is predicted to increase at a CAGR of $9.52 billion in 2021

Sales of ethylene propylene and related services make up the ethylene propylene market. Ethylene propylene is a synthetic rubber made out of ethylene, propylene, and a diene-component terpolymer. It's heat and electricity resistant, and it doesn't react with acids or alkali compounds. 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 are all examples of industrial applications.



The global Ethylene & Propylene Market is predicted to increase at a compound annual growth rate (CAGR) of 24.9 percent from $7.62 billion in 2020 to $9.52 billion in 2021. Companies are reorganising their operations and recuperating from the COVID-19 impact, which had previously resulted in stringent containment measures such as social isolation, remote working, and the closure of commercial activities that resulted in operational challenges. At a CAGR of 6%, the market is estimated to reach $11.9 billion in 2025.

 

The Ethylene & Propylene Market is divided into two types in this report: solution polymerization and suspension polymerization.

 

The use of ethylene propylene in a variety of industries contributes to the ethylene propylene market's growth.EPDM materials bond well with metals in the automobile industry, creating a well-built barrier against the environment. EPDM's robust, saturated polymer backbone structure provides qualities such as heat resistance, abrasion resistance, oil swell resistance, flame retardance, oxidation, ozone, and weather ageing. EPDM is used in a variety of applications in the automotive industry, including under the hood, cabin pressure equalising assemblies, interior trim, and striker plate blinds, according to BRP Manufacturing. As a result, EPDM's use in many sectors is contributing to the EPDM market's growth.

The release of volatile organic compounds (VOCs) during the production of ethylene propylene pollutes the environment, posing a challenge to the EPDM market's growth. VOCs are a group of compounds that have negative effects on human health and the environment because they release fine particulates into the atmosphere, resulting in smog and diminished visibility.For example, the Hong Kong government has established several laws to prevent dangerous VOC emissions, such as prohibiting the importation of products that emit more VOCs than is necessary. Thus, the increased release of VOC from producing ethylene propylene is limiting its market growth.

A key factor driving the EPDM market's growth is the rising demand for ethylene propylene diene monomer (EPDM) rubber made from bio-based feedstock. To reduce greenhouse gas emissions and achieve sustainability, renewable EPDM rubber uses raw materials like sugar and glycerin to substitute traditional synthetic rubber feedstocks like isoprene and butadiene.For example, Keltan, a business based in the Netherlands, developed the first commercial bio-based feedstock, KELTAN® Eco, made from renewable raw materials. As a result, it is projected that renewable EPDM rubber would gain market share in the EPDM market.

 

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