Dublin, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The "Ethylene Propylene Diene Monomer (EPDM) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global ethylene propylene diene monomer (EPDM) market is poised to exhibit a Compound Annual Growth Rate (CAGR) of over 4% during the forecast period. Despite the negative impact of the COVID-19 pandemic in 2020, the market has rebounded and is estimated to have reached pre-pandemic levels.
Key Highlights
The growth of the EPDM market is primarily driven by increasing demand from the construction industry and the expanding electric vehicles market. However, the market is susceptible to oil price fluctuations due to its reliance on petroleum-based raw materials. The emergence of bio-based EPDM presents an opportunity for the market. Asia-Pacific currently leads the market and is projected to maintain its dominance in the forecast period.
Market Trends
Automotive Segment's Dominance: EPDM rubber finds substantial application in the automotive sector, particularly in weatherstripping, glass and window sealing systems, hose and tubing, tires, and belts. EPDM's durability and resistance to abrasion make it a preferred choice for these applications. Weatherstripping is crucial in preventing water and air infiltration, contributing to energy savings in HVAC systems. Given the significant amount of EPDM required for each vehicle's weatherstripping, the automotive segment is poised to dominate the market. The growing global vehicle sales, such as 82.68 million units sold in 2021, further accentuate this trend.
Asia-Pacific's Continued Dominance: Asia-Pacific holds a commanding share of the EPDM market due to its vibrant automotive and construction industries. China's prominence in automotive manufacturing, coupled with its growing electronics and construction sectors, fuels the demand for EPDM. India's construction industry is expected to emerge as a global player, with a projected market size of nearly USD 1 trillion by the end of the forecast period. Japan's robust electrical and electronics industry also contributes to the demand for EPDM. These factors position Asia-Pacific to maintain its dominance in the EPDM market.
Competitor Landscape
The EPDM market is characterized by consolidation, with the top five players holding a significant share. Leading companies include Dow, ARLANXEO, ExxonMobil Corporation, Versalis S.p.A, and KUMHO POLYCHEM. These key players shape the market's trajectory through their innovations and strategies.
Conclusion
The EPDM market is on a growth trajectory driven by factors like demand from the automotive and construction sectors. While challenges like oil price volatility persist, opportunities such as bio-based EPDM present avenues for expansion. The Asia-Pacific region's continued dominance, particularly due to its thriving industries, underscores the market's promising future.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from the Construction Industry
4.1.2 Growth in the Electric Vehicles Market
4.2 Restraints
4.2.1 Fluctuations in the Oil Prices
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter Five Forces
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Volume)
5.1 Manufacturing Process
5.1.1 Solution Polymerization Process
5.1.2 Slurry/Suspension Process
5.1.3 Gas-phase Polymerization Process
5.2 Application
5.2.1 Automotive
5.2.2 Building and Construction
5.2.3 Manufacturing
5.2.4 Electrical and Electronics
5.2.5 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ARLANXEO
6.4.2 Dow
6.4.3 Elevate
6.4.4 ExxonMobil Corporation.
6.4.5 Jilin Xingyun Chemical Co. Ltd.
6.4.6 Johns Manville
6.4.7 KUMHO POLYCHEM
6.4.8 Lion Elastomers
6.4.9 Mitsui Chemicals, Inc.
6.4.10 PetroChina Company Limited
6.4.11 SK Global Co. Ltd.
6.4.12 Versalis S.p.A.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emergence of Bio-based EPDM
For more information about this report visit https://www.researchandmarkets.com/r/2of2vp
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Attachments
- Ethylene Propylene Diene Monomer Epdm Market Commercial Vehicles Production In Units By Countries 2021
- Ethylene Propylene Diene Monomer Epdm Market Ethylene Propylene Diene Monomer E P D M Market Growth Rate By Region 2
