Ethylene Propylene Diene Monomer Market Size, Share & Trends Analysis Report By Application (Building & Construction, Wires & Cables, Electrical & Electronics, Lubricant Additive), By Region, And Segment Forecasts, 2022 - 2030

Ethylene Propylene Diene Monomer Market Growth & Trends

The global ethylene propylene diene monomer market size is expected to reach USD 9.0 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 6.5% from 2022 to 2030. The market is anticipated to be driven by growth in research & development investments as well as demand for bio-based products. Moreover, rising demand for ethylene propylene diene monomer (EPDM) across the Asia Pacific region owing to theincreasing end-use industries such as automotive, construction, and manufacturing, particularly in India, China, and other Southeast countries is propelling the market growth.

In addition to this, expanding population, coupled with rapid urbanization and industrialization in developing economies, has prompted federal governments to raise their construction spending in order to cater to the burgeoning infrastructural development in the Asia Pacific region. Thus, increasing construction spending by governments, particularly in China and India, is expected to drive the demand for the product in infrastructure and construction applications.

The automotive application segment is expected to lead the market during the forecast period as the product provides non-reflective and premium quality finish. Furthermore, EPDM can be employed in electrical cable joints and roofing membranes as it does not pollute the runoff rainwater, thereby improving the efficiency of rainwater harvesting. Thus, all the above-mentioned factors together are creating a lucrative demand for the overall market in the automotive sector.

Ethylene Propylene Diene Monomer Market Report Highlights

• Asia Pacific dominated the global market in 2021 and is anticipated to exhibit the fastest CAGR during the forecast period
• China is among the fastest-growing countries in the APAC market on account of the presence of significant growth potential for the manufacturers. The growth of the market in China is majorly supplemented by massive consumption from the automotive industry
• Extensive research & development activities in the field of developing bio-based products have led to the creation of several improved grades, which is expected to create lucrative growth opportunities for the market in the upcoming years