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The global Ethylene Propylene Diene Monomer (EPDM) market size was USD 4.2 Billion in 2022 and is expected to reach USD 6.86 Billion in 2032
NEW YORK CITY, NEW YORK, USA, May 1, 2023 /einpresswire.com / -- Market Overview:
The global ethylene propylene diene monomer (epdm) market size was USD 4.2 Billion in 2022 and is expected to reach USD 6.86 Billion in 2032, showing a fast revenue CAGR of 5.6% during the forecast period. The market is being driven by increasing investment in the automotive sector across emerging economies and the use of EPDM in plastic modification applications, along with the rising demand for elastomers and emphasis on environment-friendly goods. EPDM is gradually replacing Polyvinyl Chloride (PVC) and other thermoplastics in automotive and construction industries.
The increasing demand for EPDM in automotive, construction, and electrical industries is due to its exceptional resistance to heat, weather, and ozone, along with its durability and flexibility. Compared to other elastomers, EPDM is preferred for manufacturing automobile hoses, seals, gaskets, roofing membranes, and electrical wire insulation because of its better performance and affordability.
Furthermore, EPDM is in high demand due to rising environmental awareness and stringent regulations governing energy efficiency and emission reduction. It is considered an eco-friendly and sustainable substitute for conventional materials. The use of EPDM results in less waste being produced and more natural resources being preserved.
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Ethylene Propylene Diene Monomer (EPDM) Market: Segmentation
The base year for the estimation is 2022, and historical data covers the years 2020-2021. The report provides revenue forecasts, company rankings, competitive landscape, growth factors, and trends, and segments are covered by product type outlook, application outlook, and regional outlook.
EPDM has been in high demand due to its exceptional resistance to heat, weather, and ozone as well as its durability and flexibility, making it a popular choice for automotive, construction, and electrical industries. EPDM is often preferred over other elastomers for the manufacturing of automobile hoses, seals, gaskets, roofing membranes, and electrical wire insulation due to its better performance and affordability.
The increasing investment in the automotive sector across emerging economies and the usage of EPDM for plastic modification applications has resulted in a rising demand for elastomers. Furthermore, there is an emphasis on environmentally friendly goods, which has resulted in EPDM replacing Polyvinyl Chloride (PVC) and other thermoplastics in the automotive and construction industries.
EPDM is also in high demand due to rising environmental consciousness and strict rules governing energy efficiency and emission reduction. It is viewed as an eco-friendly and sustainable replacement for conventional materials, which results in less waste being produced, and more natural resources are preserved.
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Ethylene Propylene Diene Monomer (EPDM) Market: Strategic Development
DowDuPont, in 2021, announced its plans to expand its Nordel EPDM production capacity at its Texas, US plant to cater to the increasing demand for high-quality EPDM products in the construction and automotive industries. In the same year, Lanxess AG completed the acquisition of Emerald Kalama Chemical, a company based in the US, with the aim of expanding its product portfolio in the EPDM market. Meanwhile, Kumho Polychem Co. Ltd. announced in 2020 the construction of a new EPDM plant in South Korea, which was expected to have a production capacity of 100,000 tons per year to meet the surging demand for EPDM in the Asia Pacific region.
Ethylene Propylene Diene Monomer (EPDM) Market: Competitive Landscape
The global Ethylene Propylene Diene Monomer (EPDM) market is highly competitive and consists of several major players. These companies are continuously investing in R&D, strategic partnerships, and collaborations to enhance their market position.
ExxonMobil Chemical is a major player in the EPDM market, offering a range of products that cater to the automotive, construction, and electrical industries. DowDuPont is another key player in the market, with a focus on the production of Nordel EPDM for automotive and construction applications.
Carlisle Companies Inc. is a leading player in the roofing and waterproofing industry, offering EPDM roofing membranes that provide excellent resistance to weather and UV radiation. JSR Corporation is a global leader in the production of synthetic rubbers, including EPDM, with a focus on the automotive industry.
Lion Elastomers is a subsidiary of Taiwan's TSRC Corporation, producing EPDM for a range of applications, including automotive, construction, and electrical. Mitsui Chemicals Inc. is a major producer of EPDM in Japan, with a focus on the automotive industry.
SK Global Chemical Co. Ltd. is a leading producer of synthetic rubbers, including EPDM, with a focus on the Asia Pacific market. Versalis S.p.A. is an Italian chemical company, producing a range of synthetic rubbers, including EPDM, for a variety of applications.
Lanxess AG is a major player in the EPDM market, offering a range of products that cater to the automotive, construction, and electrical industries. Kumho Polychem Co., Ltd. is a South Korean company, producing EPDM for a range of applications, including automotive, construction, and electrical.
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