Ethylene Propylene Diene Monomer Market To Predict Global Expansion Dye To Rising Demand For Bio-Based Products

 

Ethylene Propylene Diene Monomer Industry Overview

 

The global ethylene propylene diene monomer market size was valued at USD 5.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030. Rising demand from the Asia Pacific region, coupled with the growth in R&D investments and demand for bio-based products, is likely to propel the product demand during the forecast period.

 

Ethylene Propylene Diene Monomer (EPDM) is a synthetic elastomer, which is produced as a copolymer of propylene and ethylene combined with pendant diene to cross-link the polymer. It is a kind of synthetic rubber, which is characterized by a strong resistance to heat, weather, ozone, fluids, and oxidized chemicals. It is also resistant to mild acids, synthetic brake fluids, water, ethylene glycol, and other liquids. The global demand for EPDM is anticipated to witness lucrative growth over the forecast period on account of the massive expansion of the application sectors including automotive and building and construction.

 

Gather more insights about the market drivers, restrains and growth of the Global Ethylene Propylene Diene Monomer Market

 

Product innovation, coupled with rising expenditure on research & development activities, is anticipated to drive the demand for EPDM in the U.S. The various application areas of EPDM are expected to witness significant growth in the upcoming years. In recent years, the demand for EPDM arising from the building and construction industry has witnessed favorable growth in the U.S. on account of infrastructural developments. EPDM is finding increased utilization in the construction industry for residential housing and industrial applications. The overall U.S. construction industry is expected to observe favorable growth owing to new import tariffs, changing trade deals, huge infrastructural projects, and immigration reforms. Moreover, application areas of EPDM in other applications are expected to continue to drive the market over the forecast period.

 

Conventionally, EPDM has been produced from petroleum-derived raw materials such as ethylene and propylene. However, as the end-use industries are focusing on reducing the carbon footprint, especially in the transportation and automotive sectors, key manufacturers are incorporating the use of renewable sources to enhance the sustainability of end products. Initially, the use of renewable materials as a replacement for technical products produced insufficient results in high-performance rubber applications. However, on account of several extensive research & development activities, performance-efficient variants have found versatile applications in various industries.

 

Demand for EPDM is expected to rise significantly in the automotive industry in Canada owing to the rising demand for new vehicles, mainly among the aging baby-boom population in Canada and the U.S. Moreover, favorable economic conditions are anticipated to continue to support the Canadian motor vehicle manufacturing industry. However, improving vehicle technology, which aids in extending the average length of vehicle ownership, coupled with easy access to ridesharing and carpooling, is anticipated to restrain the demand among urban millennials. Allard Motor Works, Bombardier Recreational Products, Bombardier, Inc., Canadian Electric Vehicles, Dupont Industries, and Conquest Canada are among the key domestic manufacturers operating in the automotive industry in Canada.

 

The automotive manufacturing industry in Mexico is witnessing lucrative growth opportunities. The lower value of the US dollar as compared to currencies such as the Euro and Yen has attracted the attention of global auto manufacturers, particularly from the North American Free Trade Agreement (NAFTA) region. Low tariffs along with low production costs on account of the broad reach of Mexico's free trade agreements have contributed substantially to attracting significant investments. Exports to nearly 44 countries from Mexico are exempted from tariffs, including the 10% tariff imposed by the EU on imported motor vehicles. Thus, a rise in automotive manufacturing activities is likely to propel the demand for EPDM in the coming years.

 

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

  • Ethylene Glycols Market - The global ethylene glycols market demand was 16,511.0 kilo tons in 2013. It is projected to expand at a CAGR of 4.7% from 2014 to 2020. When ethylene oxide is processed further, it forms a sweet-tasting colorless liquid called ethylene glycol/ monoethylene glycol (MEG). MEG is the most widely used glycol in the global market.
  • Petroleum Resins Market - The global petroleum resins market size was valued at USD 2.22 billion in 2016 and is expected to register significant growth at a CAGR of 6.9% from 2017 to 2025. Increasing consumption of petroleum resins in paints and coatings, synthetic rubber, tapes, and labels is expected to propel the market growth over the forecast period.

 

Ethylene Propylene Diene Monomer Market Segmentation

Grand View Research has segmented the global ethylene propylene diene monomer market on the basis of application and region:

Ethylene Propylene Diene Monomer Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • Building & Construction
  • Wires & Cables
  • Electrical & Electronics
  • Lubricant Additive
  • Plastic Modifications
  • Automotive
  • Tires & Tubes
  • Others

Ethylene Propylene Diene Monomer Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Key Companies profiled:

Some prominent players in the global ethylene propylene diene monomer market include

  • The Dow Chemical Company
  • Exxon Mobil Corporation
  • Firestone Building Products Company, LLC
  • Johns Manville, Inc.
  • KUMHO POLYCHEM
  • Lanxess AG
  • Lion Elastomers, LLC
  • Mitsui Chemicals, Inc.
  • PetroChina Company Limited
  • Rubber Engineering & Development Company (REDCO)
  • SK Global Chemical Co., Ltd.
  • Sumitomo Chemical Co., Ltd.
  • Versalis S.p.A.
  • Warco Biltrite

 

Order a free sample PDF of the Ethylene Propylene Diene Monomer Market Intelligence Study, published by Grand View Research.

 

 

 

 

 

 

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