Ethylene Propylene Diene Monomer (EPDM) Market: Current Analysis and Forecast (2022-2028)

Global Ethylene Propylene Diene Monomer Market is expected to grow at a significant rate of around 8% during the forecast period. Due to its exceptional resilience to environmental elements like UV, ozone, and other weather conditions, EPDM is frequently utilized in low-slope structures, automotive uses, and construction applications. Also, owing to its cheaper cost, greater moldability, and longer durability, EPDM has recently experienced rapid demand from the manufacturing, construction, and automotive industries attributed to its better resistance to tearing, abrasion, solvent, and temperature. Additionally, EPDM can be used in place of silicon rubber in a variety of applications, including hoses, O-rings, accumulator bladders, diaphragms, and connections for wires and cables. Furthermore, EPDM could be used under extreme conditions such as 200 degrees C without air & chemical resistance and used for HVAC (Heating, Ventilation, and Air Condition), and other industrial applications. Thus, the growing focus and investment of key stakeholders in the research and development of technologically advanced EPDM-based products is further expected to support market growth.

DowDuPont Inc., Exxon Mobil Corporation, Lion Elastomers, Johns Manville, SK Global Chemical Co. Ltd, Lanxess AG, Mitsui Chemical Inc., PetroChina Company Limited, Kumho Polychem, and Versalis S.p.A. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst manufacturing process, solution polymerization category to witness higher growth during the forecast period"

Based on the manufacturing process, the market is segmented into solution polymerization process, slurry/suspension process, and gas phase polymerization. The solution polymerization segment is expected to witness significant growth during the forecast period due to the higher concentration and lower required amount for the optimized performance. Additionally, solution polymerization is used to manufacture both crystalline and amorphous polymer grades and is expected to support market growth.

"Amongst application, the automotive segment to hold a significant CAGR in the market in 2020"

Based on application, the market is bifurcated into building & construction, automotive, plastic modification, military & defense, wire & cable, lubricant additive, and others. Among these, the automotive segment to hold a significant CAGR in the market in 2020. This is mainly due to the increasing automotive vehicle sale coupled with the adoption of EPDM-based products in the vehicle such as rear lamp gaskets, tire sidewalls, front & rear bumper, and inner tire tubes among others. Additionally, the EPDM-based material has superior barriers against the road surface, engine vibration, and weather elements like UV radiation, acid rain, and atmospheric pollution, and is anticipated to promote market expansion in the future.

"Asia-Pacific to hold a significant share in the market"

In 2020, Asia-Pacific held a significant share of the Global Ethylene Propylene Diene Monomer Market. This is primarily due to the region's rapid industrialization and expanding automotive, consumer goods, electronic & electrical, and medical sectors. Also, the ongoing infrastructural projects and increasing disposable income of the individual are expected to support market growth in the coming time. Additionally, in the manufacturing sector, EPDM has been employed as a replacement for thermoplastic olefins and thermoplastic vulcanizate. Additionally, the market for EPDM is driven by the lower cost of the raw material combined with the lower cost of production linked to the reduced labor cost. Furthermore, the market is anticipated to be driven in the future by expanding R&D activities, rising investment, and technological investment along with new product launches and mergers & acquisitions among the leading players. For instance, in March 2022, ARLANXEO group based in China announced to increase in its production capacity by 15% annually.

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Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

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Deep dive regional level analysis of the industry.

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