Ethylene propylene diene monomer (EPDM) Market Scenario
Ethylene propylene diene monomer (EPDM) is a highly versatile synthetic rubber, which exhibits excellent resistance to oxygen, ozone, polar materials, and sunlight and is highly resistant to steam, heat, and water. It is used across diverse industry verticals for a wide range of applications. Market Research Future (MRFR) has added the global ethylene propylene diene monomer market report to its existing portfolio, which is a compilation of the key dynamics affecting the market. As per the report, the market is expected to catapult to USD 6.5 Bn by the end of 2025 from USD 3.9 Bn in 2017, at a CAGR of 6% over the forecast period of 2019-2025.
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EPDM experiences significant demand from the automotive industry, where its properties such as excellent resistance to heat, UV rays, ozone is highly desirable. They help in reflection of UV rays and reduce polymer degradation due to which they are used in engine mounts, vehicle glazing systems, moisture barriers, valves, and pumps. They are used in the manufacturing of seals & gaskets, weather-stripping, brake parts, radiator, tubing, belts, windshield wipers, and others. Expanding the automotive industry and increasing the production of vehicles is supporting the growth of the market. EPDM is also used in the construction industry for waterproofing applications. They help in lowering air-conditioning costs as well.
The booming construction industry in the developing countries of Asia Pacific is favoring the growth of the market. Other factors supporting the growth of the market include numerous rainwaters harvesting initiatives undertaken in various countries and increasing adoption of green cities. On the other hand, the growth of the market might be hindered by the volatile price of raw materials.
The ethylene propylene diene monomer market has been segmented based on application and end-use industry.
By application, the ethylene propylene diene monomer market has been segmented into seals & gaskets, weather-stripping, tires & tubes, wire & cables, roofing membranes, electric insulation, radiators, oil additives, and others.
By end-use industry, the ethylene propylene diene monomer market has been segmented into automotive, building & construction, aerospace & defense, electrical & electronics, consumer goods, medical, and others.
Region-wise, the ethylene propylene diene monomer market has been segmented into North America, Latin America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
The largest share of the market was captured by APAC in 2018. The region is in the midst of rapid industrialization, and various end-use industries of EPDM are expanding at an accelerated pace in the region, which is generating constant demand within the market.
The prolific growth of the automotive industry in the UK, Germany, Italy, and France are supporting the growth of the EPDM market in Europe. Besides, the European Union (EU) has laid down stringent regulations for environment protection, which works in favor of the EPDM market. The region is investing significantly in the medical sector, which is inducing the growth of the market.
North America EPDM market is likely to exhibit substantial growth in the coming years. Demand will be generated from the automotive, electrical & electronics, construction, and healthcare industries.
The growth of Latin America EPDM market can be attributed to the fast track industrialization in countries such as Brazil and Chile.
The MEA market growth is driven by the GCC countries. Construction activities are going on at a torrid pace, which is inducing high demand within the market.
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Firestone Building Products Company (US), Exxon Mobil Corporation (US), SABIC (Saudi Arabia), Dow (US), Carlisle Companies Inc. (US), JSR Corporation (Japan), SK global chemical Co., Ltd (South Korea), Mitsui Chemicals, Inc. (Japan), Lion Elastomers (US), LANXESS AG (Germany), KUMHO POLYCHEM (South Korea), Johns Manville (US), and Sumitomo Chemical Co., Ltd (Japan) are the key players in the global ethylene propylene diene monomer market.
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