The global market size is set to gain momentum from rising requirements for sealing strips from the construction industry. This information is given by Fortune Business Insights™ in an upcoming report, titled, “EPDM sealing stripMarket, 2022-2029.” Additionally, versatile properties of the sealing strip make it an ideal choice in the construction industry of construction.
Pandemic Stagnated Market Growth as a Cause of Supply Chain Disturbance
Sudden announcement of national emergency by World Health Organization (WHO) rushed the market of every industry. The sealing strip is used to seal, taking EPDM as a main raw material. The management was disrupted by the sudden lockdown. The transports were off and thus resulted in stagnancy of the market of EPDM sealing strips. The lockdown disrupted the market and resulted in the downfall of EPDM sealing strip market growth.
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On the basis of product type, the market is segmented into sulfuration, and thermoplasticity.
Based on application, the market is split into automotive, construction, and other.
Regionally, the market is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report covers various aspects of growth and restraints. Key competitors and their advanced strategy to stand in the market of EPDM sealing strip is also described in the report. In-depth market analysis is done to gain insights of market competition and upcoming opportunities. Regions to gain global positions are depicted with the growth cause, demand and supply of the product is also mentioned in this report. Competitive landscape is highlighted in the report along with highlighting comprehensive insights of EPDM sealing strip market share. The disruption of the market caused by COVID-19 is also included in the report to give a complete market analysis report to the competitors.
Drivers & Restraints-
Rising Growth for Sealing Strips from Construction Industry to Drive Maximum Growth
The constantly rising requirement for sealing strips from the construction industry to surge the market growth. The sealing strips come in various categories for example- double-sided adhesive strip, kiss-cut strip, self-adhesive strips, and plain strip. The versatile properties of the sealing strip make it an ideal choice in the construction industry of construction. The rising requirement for buildings is pushing the industry to grow at a pace.
Whereas, the fluctuation in price may turn out as a limitation in market growth. The price fluctuation affects the demand of the product and hinders the product adoption in different applications. These factors may hamper the growth in the market of EPDM sealing strip.
Asia Pacific to Bolster Growth Due to Rising Product Demand in Construction Industry
Asia Pacific is expected to drive the maximum growth of the market backed by the rise in product demand from the construction industry. The constantly rising demand from the residential building for sulfuration will surge the growth in North America.
The rapid expansion of the automotive industry to aid the product consumption in Europe. The Middle East & Africa also expected to witness the growth due to rising demand for products.
Major Players Striving to Expand Market by New Advancement Technology Adoption
The key competitors are striving to gain projects by different construction companies to provide the sealing strip made with EPDM. Companies are striving hard to get joint ventures to expand the EPDM sealing strip industry. Significant players are also focused on acquiring mergers, and collaborators to grow in the global market. Major players Adopted and implemented new technology to boost market growth of EPDM sealing strip. Porter’s five forces analysis is done to get the insights of the market.
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