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) - Global Forecast to 2028

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) - Global Forecast to 2028

The EPDM market size is estimated to be USD 3.9 billion in 2023, and it is projected to reach USD 5.2 billion by 2028 at a CAGR of 5.9%. The growing automotive sector in the APAC region is fueling growth in the EPDM market throughout the forecast period. Additionally, advancements in eco-friendly production technologies for EPDM and the increasing demand for electric and hybrid vehicles present fresh opportunities within the EPDM market landscape.

EPDM stands for Ethylene Propylene Diene Monomer. It is a synthetic rubber compound widely used in various applications due to its excellent resistance to weathering, ozone, heat, and chemicals. EPDM is commonly employed in automotive parts, electrical insulation, roofing membranes, seals, and gaskets, among other industrial and commercial uses.

"" Solution Polymerization Process is the fastest growing manufacturing process segment of the EPDMs market.""

The solution polymerization process emerges as the most rapidly expanding segment in EPDM manufacturing during the forecast period. EPDM is predominantly manufactured using a polymerization-in-solution technique, chosen for its capacity to tailor products to meet precise design requirements.

""Automotive is the fastest growing application segment of the EPDMs market.""

In terms of application, the automotive sector is projected to witness the most rapid growth within the EPDM market throughout the forecast period. Notably, China, India, Japan, and other South Asian countries play significant roles in automotive production. Technological advancements and innovation in the automotive sector are poised to bolster market growth. The Asian automotive industry is anticipated to rebound by the conclusion of 2022, with notable progress expected in the Chinese automotive sector. According to the China Association of Automobile Manufacturers (CAAM), car production saw a 3% year-on-year increase in 2021, with New Energy Vehicles (NEVs) forecasted to represent 25% of sales by 2026. The evolving regulatory landscape and government initiatives supporting Electric Vehicles (EVs) are further propelling growth within the EPDM market.

""APAC is the fastest-growing market for EPDMs.""

The Asia-Pacific region emerges as the fastest-growing EPDM market during the forecast period. Encompassing China, Japan, India, South Korea, Indonesia, and Malaysia, the APAC region stands as a key hub for EPDM production and consumption. Notably, the automotive industry serves as the primary consumer of EPDM, employing it in a range of applications such as weather-sealing, hoses, gaskets, and under-the-hood components. China, a significant global player in both EPDM production and consumption, contributes substantially to market dynamics. With a majority of EPDM producers situated in the Asia-Pacific, the region solidifies its dominance in the EPDM market. Furthermore, ongoing construction projects and consistent growth in the automotive sector serve as key drivers propelling the EPDM market forward in the region.

The breakdown of primary interviews is given below:

By Company Type: Tier 1 – 25%, Tier 2 – 42%, and Tier 3 –33%

By Designation: C-Level Executives – 20%, Directors – 30%, and Others – 50%

By Region: North America – 20%, Europe – 10%, APAC – 40%, Middle East & Africa – 20%, and South America - 10%

The companies profiled in this market research report include are ARLANXEO (Netherlands), DOW (US), Exxon Mobil Corporation (US), Kumho Polychem (South Korea), PetroChina Company Limited (China), Versalis S.p. A. (Italy), SK geo centric Co., Ltd. (South Korea), ENEOS Holdings, Inc. (Japan), and Mitsui Chemicals, Inc. (Japan), and others.

Research Coverage

The EPDM market has been segmented based on manufacturing process, application, and region. This report covers the EPDM market and forecasts its market size until 2028. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the EPDM market. The report also provides insights into the drivers and restraints in the EPDM market along with opportunities and challenges. The report also includes profiles of top manufacturers in the EPDM market.

Reasons to Buy the Report

The report is expected to help market leaders/new entrants in the following ways:

1. This report segments the EPDM market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.

2. This report is expected to help stakeholders understand the pulse of the EPDM market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.

3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the EPDM market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as acquisitions, expansions, new product developments, and partnerships/collaborations/agreements.

The report provides insights on the following pointers:

Analysis of key drivers (Growing automotive industry, and increasing use of EPDM polymer in the blended products), restraints (Availability of substitutes for EPDM), opportunities (Growth in electric vehicles expected to provide new revenue streams for EPDM manufacturers, and development of environment-friendly technology for EPDM production), and challenges (Anti-dumping duties imposed by china, and difficulties in recycling EPDM) influencing the growth of the EPDM market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the EPDM market

Market Development: Comprehensive information about lucrative markets – the report analyses the EPDM market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the EPDM market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like ARLANXEO (Netherlands), DOW (US), Exxon Mobil Corporation (US), Kumho Polychem (South Korea), PetroChina Company Limited (China), Versalis S.p. A.(Italy), SK geo centric Co., Ltd. (South Korea), ENEOS Holdings, Inc. (Japan), and Mitsui Chemicals, Inc. (Japan) and others.