Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The "Global EPDM Market by application (Automotive, Building & Construction, Plastic Modification, Tires & Tubes, Wires & Cables and Lubricant Additives), Manufacturing Process, Region (North America, Europe, APAC, MEA, and South America) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Ethylene Propylene Diene Monomer (EPDM) market is projected to grow from USD 3.6 Billion in 2022 to USD 4.8 Billion by 2027, at a CAGR of 5.9% during the forecast period The recovery of automotive sector in the APAC region is driving the EPDM market during the forecast period. Moreover, the development of eco-friendly technologies for production of EPDM and growing demand for electric & hybrid vehicles are new opportunities in EPDM market.
Automotive is projected to be the fastest-growing segment by application in EPDM market
Based on application, automotive is estimated to be the fastest-growing segment of EPDM during the forecast period. . China, India, Japan, and other South Asian countries are major regions involved in automotive production. The technological development and innovation in the automotive sector will enhance the market. The automotive industry in Asia is expected to recover by the end of 2022 with steady improvement in the Chinese automotive industry. According to the China Association of Automobile Manufacturers (CAAM), the total production of cars in 2021 increased by 3% year-on-year. NEVs will account for 25% of the sales by 2026. The changing regulatory scenario and government policies to support EVs boost the growth of the EPDM market.
Solution Polymerization Process is projected to be the fastest-growing segment by manufacturing process in EPDM market
Solution polymerization process is estimated to be the fastest-growing segment by manufacturing process in the EPDM market during the forecast period. EPDM is majorly produced via a polymerization in solution technique, as this technique has the ability to meet specific design needs of products.
Asia Pacific is projected to be the fastest growing segment in EPDM market by region
Asia Pacific is the fastest growing EPDM market in forecast period. The APAC region includes China, Japan, India, South Korea, Indonesia, and Malaysia as either major producers or markets for EPDM. The automotive industry is the largest consumer of EPDM for various under weather-sealing, hoses, gasket, and under-the-hood applications. . The China is one of the leading producers and consumers of EPDM, globally. Asia Pacific dominates the EPDM market as most of the producers of EPDM are based in the Asia Pacific. New construction projects, and steady growth in automotive, are driving the EPDM market in the region.
Premium Insights
- Growth in Automotive Sector to Offer Market Growth Opportunities
- China and Building & Construction Segment Accounted for Largest Shares
- Automotive Segment to Dominate Market, 2022-2027
- Solution Polymerization Segment to Lead Market, 2022-2027
- China to be Fastest-Growing Market for EPDM
Market Dynamics
Drivers
- Expected Recovery of Global Automotive Sector to Drive EPDM Market
- Increasing Use of EPDM Polymer in Blended Products
Restraints
- Availability of Substitutes for EPDM
Opportunities
- Growth of Electric Vehicle Market Expected to Provide New Revenue Streams for EPDM Manufacturers
- Development of Environment-Friendly Technology for Production of EPDM
Challenges
- Anti-Dumping Duties Imposed by China
- Difficulties in Recycling EPDM
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Epdm Market, by Manufacturing Process
7 Epdm Market, by Application
8 Epdm Market, by Region
9 Competitive Landscape
10 Company Profiles
11 Appendix
Companies Mentioned
- Arlanxeo
- Carlisle Companies Incorporated
- Denka Elastlution Co., Ltd.
- Dow Inc.
- Eneos Holding Group
- Exxon Mobil Corporation
- Firestone Building Products
- Jiaxing Running Rubber &Plastic Co., Ltd
- Kumho Polychem
- Lion Elastomers LLC
- Mitsui Chemicals Inc.
- Petrochina Company Limited
- Pjsc Nizhnekamskneftekhim
- Rabigh Refining and Petrochemical Company
- Sabic
- Shanghai Sinopec Mitsui Chemicals, Co., Ltd.
- Sk Global Chemical Co., Ltd
- Sumitomo Bakelite Company Limited
- The Goodyear Tire and Rubber Company
- Versalis S.P.A
- West American Rubber Company LLC
For more information about this report visit https://www.researchandmarkets.com/r/wt1fsd
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