Wilmington, Delaware, United States, March 11, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The last recorded market valuation of the global ethylene propylene diene monomer (EPDM) market was about US $ 4.4 billion in 2021. However, with a moderate advancement through a CAGR of 5.5%, the overall market valuation is expected to reach US $ 7.2 billion by the end of 2031. This market progress is subjected to various driving forces, including the growth of allied industries.
Electrical systems are being set up globally, which requires a concrete network of insulation. The traditional option of silicon rubber used for insulation can be replaced with EPDM polymers. Consequently, it is in great demand within the electrical industry. Therefore, this is one of the significant market drivers for the said market.
Due to the diverse operating temperatures for the tertiary version of EPDM, it is vastly applied in mechanical components in the automotive industry. Hence, it has gained significant popularity within the said market, creating great demand for the subject market.
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Furthermore, EPDM is widely applied in the construction industry for high-load application services due to its excellent resilience for high loads, pressures, punctures, and shearing forces. Thus, a surge is observed in the demand of the subject market.
Key Findings from the Market Report
- The global ethylene propylene diene monomer (EPDM) market can be segmented broadly based on the applications of EPDM polymer. By large, building and construction are essential market segments where the said polymer is extensively used. Roofing systems considerably require various polymers, including PVC, EPDM, and TPO.
- Apart from this, plastic is another market segment that requires a diverse set of polymers. Melamine dishes, toughened glass, and several other applications could be found in the industry, which generate more demand for polymers. Moreover, this market segment is exploited by individuals and large-scale businesses.
- Electrical insulation is another essential market segment of the subject market. As discussed before, traditional insulation rubber can be replaced by EPDM polymer units, which drastically reduces operation costs. As a result, the use of the polymer market increases.
- Lubricant additives, automobiles, and other market segments frequently demand polymers to replace traditional parts.
Competitive Landscape
- The competitive landscape of the global ethylene propylene diene monomer (EPDM) market is highly diversified, with multiple applications of polymers.
- In the case of Arlanxeo, it operates in a diverse range, producing various butyl rubbers, adhesives, footwear polymers, and many more.
- Versalis produces different molding and compounding products. Also, it has oilfield chemicals and provides services associated with it.
- Nordmann works in different sectors, coating, and inks being one of them. Also, it operates in the resin manufacturing segment.
Key Players
- Lanxess AG
- Exxon Mobil Corporation
- Mitsui Chemicals Inc.
- DowDuPont Inc.
- Lion Elastomers
- Kumho Polychem (A JSR Group Company)
- Sumitomo Chemical Co. Ltd.
- Jilin Xingyun Chemical Co. Ltd.
- Versalis S.p.A
- Johns Manville
- PJSC "Nizhnekamskneftekhim"
- SK Global Chemical Co. Ltd.
Key Trends for the Ethylene Propylene Diene Monomer Market
- Nordmann took over Mitsui EPT's distribution network in November 2020. Due to this, Mitsui EPT products were distributed more efficiently in Serbia and the EU by the latter organization.
- In July 2022, Versalis introduced new grades of polymers in the rubber industry. It plans to accelerate the production of thermoplastic elastomers that will revolutionize the tire industry.
- Annual production of the Chinese plant of Arlanxeo was increased by a substantial rate of 15% in March 2022. Due to this, the growth in the technological industry became possible for the company.
Regional Profile
- As far as the largest market shareholder is concerned, Asia-Pacific is considered to be the leading region in the global ethylene propylene diene monomer (EPDM) market. About 41.3% of the worldwide market is governed by the area. This is due to the development of the automotive sector in countries like China, India, and other Asian countries.
- North America is expected to show a moderate advancement in the subject market at a CAGR of 5.5%. Consequently, this geographical region can be considered as a decent growing region.
- Latin America has been showing a significant development in the subject market with growth in the automotive industry in countries like Brazil.
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Market Segmentation
Application
- Building and Construction
- Electrical Insulation
- Automotive
- Plastics
- Lubricant Additives
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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