The global EPDM market is projected to grow from USD 3.9 billion in 2023 to USD 5.2 billion by 2028, at a CAGR of 5.9% during the forecast period. The rising automotive sector in the APAC region is driving the EPDM market during the forecast period. The market research report provides a thorough analysis of EPDM market size, share, demand, dynamics, key driving factors, segmentation, competitive analysis, country-level overview, and projection outlook. The growth of the EPDM market is primarily driven by the rising automotive sector which helps to generate the demand for EPDM across the industry. Apart from this, the increasing use of EPDM polymer in the blended products also helps to drive the market. Availability of the susbstitutes for EPDM in the market, becomes the main restraining factor in this market. However, the growing demand for EVs, and development of environment-friendly technology for EPDM production, provides lucrative opportunities for EPDM producers. Anti-dumping duties imposed by China, and recycling issues of EPDM, are the major challenge of this market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=483
By Application, Automotive accounted for the largest share in 2022.
In the forecast period, the automotive segment within the EPDM market is anticipated to experience the most substantial compound annual growth rate (CAGR) in terms of value.
EPDM rubber plays a significant role in the manufacturing of rubber parts utilized in automotive vehicles. China, renowned for its automotive market, particularly stands out as a pivotal player. The country is actively promoting the development of new-energy vehicles (NEVs), encompassing fuel cell electric vehicles (FCVs), plug-in hybrid electric vehicles (PHEVs), and battery-electric vehicles (BEVs). According to the China Association of Automobile Manufacturers (CAAM), the total production of cars in 2021 witnessed a 3% year-on-year increase, indicating a steady growth trajectory. NEVs are projected to represent 25% of sales by 2026, underlining the nation’s commitment to sustainable transportation solutions.
Within the automotive industry, EPDM finds extensive usage in various applications including hoses, gaskets, body sealing, weather-stripping, brake parts, windshield wipers, and other under-the-hood components.
By Manufacturing Process, Solution Polymerization Process accounted for the largest share in 2022.
The Solution Polymerization Process segment holds the largest share in the EPDM market in 2022. Commercially, EPDM can be produced through three primary processes: solution, slurry (suspension), and gas-phase methods. These processes leverage advanced polymerization and catalyst technologies, offering the flexibility to tailor polymers to meet specific application and processing requirements. Among these methods, the solution polymerization process stands out as the most prevalent and versatile method, capable of producing a diverse array of polymers to suit a wide range of applications.
Get a Sample Copy of This Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=483
Asia Pacific is the fastest-growing market for the EPDM market.
The Asia Pacific region is accounted to be the fastest-growing market both in terms of value, from 2023 to 2028. Asia-Pacific’s dominance in the EPDM market can be attributed to the concentration of EPDM producers within the region. Additionally, the region experiences a surge in new construction projects and sustained growth in the automotive sector, further propelling the demand for EPDM in the region.
EPDM Companies
The EPDM market comprises major players such as ARLANXEO (Netherlands), DOW (US), Exxon Mobil Corporation (US), Kumho Polychem (South Korea), PetroChina Company Limited (China), Versalis S.p. A. (Italy), SK Geo Centric Co., Ltd. (South Korea), ENEOS Holdings, Inc. (Japan), Mitsui Chemicals, Inc. (Japan), and others. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the EPDM market.
Dow (US) is a pioneering materials science company dedicated to crafting inventive solutions. Its operations span across several segments, including packaging and specialty plastics, industrial intermediates and infrastructure, and performance materials and coatings. One of Dow’s notable offerings is EPDM rubber, which is integrated into its packaging and specialty plastics business. This EPDM, marketed under the brand name NORDEL, showcases Dow’s commitment to innovation and excellence in serving its customers’ demands.
Versalis S.p.A (Italy), a subsidiary of the prominent Italian oil and gas firm Eni S.p.A., specializes in manufacturing a diverse array of chemicals. The company’s operations are organized into six distinct divisions: intermediates, polymers, biochem, molding and compounding, oilfield chemicals, and other areas. With a global presence, Versalis boasts production facilities for elastomers in key locations such as Italy, the UK, and South Korea.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=483
The company operates research and development centers in Italy, situated in Ravenna and Ferrara. Ravenna’s facility stands out as a major synthetic rubber producer in Europe. With a remarkable total production capacity exceeding 304 thousand tons per year (KTPY) for EPDM, the company’s elastomers division leads the market.
ARLANXEO (Netherlands), a leading synthetic rubber manufacturer, serves its products in diverse end-use applications including automotive, oil & gas, building & construction, consumer goods, and pharmaceuticals. With a global footprint spanning over 12 production sites and 7 innovation centers across Asia, Europe, South America, and North America, ARLANXEO ensures proximity to key markets and fosters innovation to meet evolving customer needs. The company’s EPDM products are marketed under the brand name Keltan.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media ContactCompany Name: MarketsandMarkets™ Research Private Ltd.Contact Person: Mr. Rohan SalgarkarEmail: Send EmailPhone: 18886006441Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445City: FloridaState: FloridaCountry: United StatesWebsite: https://www.marketsandmarkets.com/Market-Reports/epdm-rubber-market-483.html
