IMARC Group, a leading market research company, has recently releases report titled “Ethylene Propylene Diene Monomer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global ethylene propylene diene monomer market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Ethylene Propylene Diene Monomer Market?
The global ethylene propylene diene monomer size reached US$ 4.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.
What is Ethylene Propylene Diene Monomer?
Ethylene propylene diene monomer (EPDM) refers to a flexible synthetic rubber with unique performance properties. It is a copolymer of ethylene, propylene, and diene monomers produced via the suspension, solution, or gas-phase polymerization processes. It is commonly used in radiators, drain tubes, belts, window and door seals, tubing, roofing membrane, non-slip coatings, and trunk seals. It offers better durability, greater metal bonding, and higher tear strength than silicon. As a result, EPDM finds extensive applications across the construction, automotive, manufacturing, and electrical and electronics industries.
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What are the growth prospects and trends in the Ethylene Propylene Diene Monomer Industry?
The global ethylene propylene diene monomer market is primarily driven by the surging product adoption in heating, ventilation, and air conditioning (HVAC) applications due to its high heat and water resistance and electrical insulation.
Moreover, numerous product innovations, including the development of bio-based EPDM that offers excellent oil resistance, metal adhesion, and temperature flexibility and helps reduce carbon footprints, are positively influencing the market growth. Additionally, the rising use of EPDM in building and construction applications such as podium decks, swimming pools, basements, and roofing solutions owing to their high cost-efficiency and flexibility is another major growth-inducing factor.
Furthermore, the increasing product utilization in cable jacketing, suspension bellows, plugs, molded seals, tubing, and air ducts is contributing to the market growth. Other factors, including ongoing research and development (RD) activities, rapid growth in the automotive industry, and inflating consumer disposable incomes, are also anticipated to create a favorable market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Manufacturing Process:
- Solution Polymerization Process
- Slurry and Suspension Process
- Gas-Phase Polymerization Process
Breakup by Sales Channel:
- Direct Sales
- Indirect Sales
Breakup by Application:
- Automotive
- Building and Construction
- Manufacturing
- Electrical and Electronics
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Arlanxeo, Carlisle Companies Incorporated, Dow Inc., Exxon Mobil Corporation, Firestone Building Products (Holcim Group), Jilin Xingyun Chemical Co. Ltd., Johns Manville (Berkshire Hathaway Inc.), Kumho Polychem (Kumho Petrochemical Co. Ltd), Lion Elastomers, Mitsui Chemicals Inc. and West American Rubber Company LLC.
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