EPDM (Ethylene Propylene Diene Monomer) Market

EPDM (Ethylene Propylene Diene Monomer) Market Size (2023-2028):

EPDM (Ethylene Propylene Diene Monomer) Market is predicted to reach a value of USD 7.6 billion by the end of the year 2028, registering a CAGR of 5.8% between 2023-2028

EPDM is a high-density artificial rubber that is very durable in its nature. It is primarily suitable for use in electrical insulation, gaskets, and laminate. It has great resistance to tearing, solvents, abrasives, and temperatures. EPDM can be finished on a particularly smooth surface. It has excellent elasticity at low and high temperatures. It has high electrical insulation features and great resistance to common dilute acids, ketones, and alkalis. The escalating use of EPDM in plastic modification applications, the increase in domestic consumption in China, and the continuous expansion activities undertaken by companies are key factors in the expansion of the worldwide EPDM market.

EPDM (Ethylene Propylene Diene Monomer) Market Trends:

The expansion of the automotive industry, coupled with an ever-expanding range of applications in the field, is predicted to drive EPDM market expansion over the forecast period. Worldwide production of commercial and personal vehicles was more than 220 billion units and 680 billion units respectively in 2021. Rapid motor vehicle sales in the coming years are expected to complement the business growth. Additionally, rising per capita spending driving consumers to shift to functional and luxurious cars is another driving force for the ethylene propylene diene monomer market.

Recent Developments in the EPDM (Ethylene Propylene Diene Monomer) Market:

Indian companies are investing in synthetic rubber, taking advantage of the recently added capacity of around 270,000 tonnes per year.

Platts will launch weekly synthetic rubber price assessments. Platts, one of the world's leading providers of information on energy, petrochemicals, and metals and a leading source of benchmark valuations, announced the launch of four weekly physical market price reviews for Styrene Butadiene Rubber (SBR), a rubber synthetic essential for manufacturing. tire and footwear, and other products.

EPDM (Ethylene Propylene Diene Monomer) Market Drivers:

One of the main drivers of the global EPDM market is the growing call for synthetic rubber in automotive industries and construction. Additionally, escalated construction activity is likely to boost the EPDM market. The market for ethylene propylene diene monomers is supposed to grow during the outlook period due to the escalating use of EPDM for plastics modification applications along with an escalating call for elastomers. Additionally, EPDM is rapidly replacing polyvinyl chloride (PVC) and other thermoplastics in the automotive and construction industries because of the rising focus on high-value and environmentally friendly products. This factor is further driving the expansion of the EPDM market. The main expansion engine of the studied market is the expansion of the construction sector worldwide, mainly in developing countries. As the construction business continues to develop, the utilization of EPDM in these applications is also likely to continue to escalate. Initially, renewable materials were employed to replace technical products; however, they have resulted in insufficient performance in rubber applications. However, as end-use industries focus on reducing their carbon footprint, particularly in the transportation and automotive sectors, major manufacturers are incorporating the use of renewable sources to increase the durability of end products.

EPDM (Ethylene Propylene Diene Monomer) Market Restraints:

Although the EPDM market is developing at a significant expansion rate, a few factors are hampering the expansion of the business on a worldwide scale. The growing environmental concern about VOC emissions during EPDM production is one of the main constraints to this industry expansion.

Opportunities in the EPDM (Ethylene Propylene Diene Monomer) Market:

Bio-based EPDM development is likely to present substantial expansion opportunities for the major players involved in the EPDM (Ethylene Propylene Diene Monomers) market during the conjecture period. The worldwide EDM market is estimated to experience high expansion during the projection period.

EPDM (ETHYLENE PROPYLENE DIENE MONOMER) MARKET REPORT COVERAGE:

EPDM (Ethylene Propylene Diene Monomer) Market Segmentation:

By Application:

• Automotive

• Building & Construction

• Tires & Tubes

• Wires & Cables

• Lubricant Additives

The lubricant additive segment is calculated to be the fastest growing application segment in the EPDM market between 2021 and 2026, as it is a must-have feature of all machines ranging from applications that allow the handling of very small parts that move very heavy masses. EPDM is employed as a viscosity improver (VI) in lubricants. Its propensity to absorb oil makes it advantageous for use in applications that improve oil viscosity. The automotive industry is the fastest-growing end-use industry segment in the worldwide EPDM market. The consumption of EPDM in the automotive industry is mainly due to its high resistance to heat and weathering and its vibration absorption properties.

EPDM (Ethylene Propylene Diene Monomer) Market Regional Analysis:

The EPDM (Ethylene Propylene Diene Monomer) Market Report includes the segmentation of the below regions:

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

Asia-Pacific is presently the biggest industry for EPDM, holding close to forty percent of the worldwide industry size, in value and volume, in 2020. Among all countries, China leads the market in 2021, closely followed by the U.S. It is the quickest-developing market in the world and is predicted to overtake China and Japan in the EPDM market in the coming years. Along with the escalating call for EPDM in the Asia-Pacific region, international EPDM manufacturing companies find it reasonable to manufacture EPDM products in the Asia-Pacific region compared to others due to the cost of labor. The Asia-Pacific is foreseen to continue to expand due to strong calls for products from key sectors such as automotive, construction and construction, and power and electricity.

 In recent years, the manufacturing industry in the Asia-Pacific region has attracted significant investment from large multinationals. Northeast Asian companies are primarily focused on driving their economies to expand into key sectors of raw material extraction, manufacturing, and services. Thus, the governments of the region have transformed rural industries into well-equipped world-class manufacturing facilities by implementing protectionism, financial investments, and regulatory support. Furthermore, low labor costs and proximity to raw material suppliers are more attractive to investors. China, Indonesia, South Korea, India, and Taiwan are predicted to drive the Asia-Pacific EPDM market during the forecast period. Worldwide, China is one of the largest producers and consumers of EPDM.

Impact of COVID-19 on the EPDM (Ethylene Propylene Diene Monomer) Market:

The coronavirus pandemic has had a major impact on businesses around the world and consequently on the rubber industries. Almost all sectors around the world have reported a drop in call as containment measures went into effect, limiting economic activities and affecting livelihoods. COVID-19 has impacted the rubber industry in various ways. On the one hand, there was an interruption in the supply of raw materials. On the other hand, a delay in agricultural operations and latex collection further exacerbated the problem. Due to the disruption of worldwide economic activities and restrictions on imports, essential inputs such as carbon black and rubber chemicals were in short supply. The delay in agricultural activities has also created liquidity and working capital problems for a sector dominated by MSMEs that do not necessarily have solid business continuity plans. They depend on regular cash flow to meet working capital needs and pay wages. The volatility of worldwide markets has further weakened the industry's outlook.

EPDM (Ethylene Propylene Diene Monomer) Market Key Players:

Major companies in the global EPDM market are

• ExxonMobil Chemical Company (U.S.)
• Mitsui Chemicals Inc. (Japan)
• PetroChina Co. Ltd (China)
• JSR Corporation (Japan)
• Lanxess AG (Germany)
• SK Global Chemical Co. Ltd (South Korea)
• Carlisle Companies Inc. (U.S.)
• DoW Elastomers (U.S.)
• John Manville Inc. (U.S.)
• Kumho Polychem Co. Ltd (South Korea)