The global ethylidene norbornene market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 4% during the forecast period (2020-2027).
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Ethylidene norbornene can be defined as an intermediate and a bicyclic monomer, which is generally manufactured from vinyl norbornene and is mainly used to manufacture ethylene propylene diene monomer rubber. This is extensively used for non-tire synthetic rubber application. High tensile strength, fast curing, and high weather and wear resistance are some of the major properties of ENB monomer, which favor its application. These superior qualities enable the product to be used across industry verticals like electrical & electronics, automotive, and building and construction. It is also used as a scent carrier in the flavors and fragrance industry owing to its unique molecular structure.
The ethylidene norbornene market will experience significant growth, mainly due to socioeconomic trends like robust economic growth, rising middle-class population, rapid urbanization, and changing demographics, especially in the developing economies like China, India, Brazil, and South Africa. Increasing FDI and rapid industrialization are estimated to trigger the demand for synthetic rubber across end use industries, thereby fostering the market growth in the long run. Moreover, the soaring demand for EPDM in the production of seals, gaskets, roof sheeting, and end use industries like building & construction and automotive is predicted to contribute to the market’s growth.
On the contrary, the high cost of ethylidene norbornene compared to its alternatives like epoxy resins will deter the market growth in the foreseeable future.
Global Ethylidene Norbornene Market: Segmental Analysis
The global ethylidene norbornene market has been segmented on the basis of grade and end use industry.
By grade, the market is segmented into aroma grade and industrial grade. Of these, the industrial-grade segment is predicted to acquire over 95% of the global demand, in terms of value as well as tonnage. The segment will expand at the fastest rate during the review period.
By end use industry, the market is segmented into construction, automotive, fragrance, electrical & electronics, and others. Of these, the automotive segment is predicted to gain prominence due to the soaring demand for advanced weather and heat-resistant synthetic rubber for various applications.
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Geographically, the ethylidene norbornene market spans across Asia Pacific, Europe, North America, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific is considered to witness a significant share in the global market, mainly due to rapid urbanization and industrialization, especially in developing countries like China and India. The booming automotive production in the region, coupled with surging infrastructural investments are some of the primary growth stimulants of the market. Favorable government policies, especially economies like China and India in order to encourage the domestic manufacturing industries, are likely to support the market growth in the APAC. Leading market players in the region are planning to strengthen their foothold in India and China, which is further likely to influence the regional market’s growth globally.
The ethylidene norbornene market in Europe is predicted to acquire the second spot, in terms of value and is predicted to experience considerable growth during the review period. The primary factor driving the regional market is the existence of several automotive manufacturers. Soaring investments for refurbishment and repair in the construction sector is likely to propel the market growth in the coming years.
Meanwhile, North America is likely to emerge as a prominent regional market due to the recovery of the construction industry, especially in the U.S. Moreover, the surging sales of automobiles have triggered the demand from the market.
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The top players operating in the ethylidene norbornene market include INEOS Oxide, JXTG Nippon Oil & Energy Corporation, Ningbo Titan Unichem Co., Ltd., The Dow Chemical Company, Exxon Mobil Corporation, Uniroyal (Crompton), Crescent Chemical Company, Chemos GmbH, Simagchem Corp., Beyond Industries (China) Limited, and Ningbo Yonghua Resin Co., Ltd.
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