Global Ethylene Propylene Diene Monomer Market Size To Worth USD 7.1 Billion By 2032 | CAGR of 6.6%
The Global Ethylene Propylene Diene Monomer Market Size was valued at USD 4.8 Billion in 2022 and the Worldwide Ethylene Propylene Diene Monomer Market Size is Expected to reach USD 7.1 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: DuPont (U.S.), Exxon Mobil Corporation (U.S.), Lanxess (Germany), Mitsui Chemicals, Inc (Japan), Sumitomo Chemical Co. Ltd (Japan), SK geo centric Co., Ltd. (South Korea), China Petrochemical Corporation (china), Johns Manville. (U.S.), Berkshire Hathaway Inc. (U.S.), JSR Corporation (Japan), KUMHO POLYCHEM (South Korea), Lion Elastomers (U.S), PJSC and Other Key Vendors.
New York, United States, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The Global Ethylene Propylene Diene Monomer Market Size to Grow from USD 4.8 Billion in 2022 to USD 7.1 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period.
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Several factors contribute to the EPDM market's expansion. The automotive industry's increased demand for weatherstripping, gaskets, and seals has had a substantial impact. Because EPDM is extensively used for roofing membranes and seals, the building industry is also involved. EPDM's resistance to high temperatures, UV radiation, and ozone makes it a durable material for a wide range of applications. EPDM's recyclability and environmental friendliness have expanded its popularity in the global drive for sustainable and energy-efficient solutions.
*Ethylene Propylene Diene Monomer Market Value Chain Analysis*
The production of ethylene, propylene, and diene monomers is the first step in the process. EPDM is built on the foundation of these raw materials. Polymerization refers to the process by which the basic components are chemically bonded to form the EPDM polymer. Catalysts are routinely used to accelerate this process. Curing agents, accelerators, and fillers are added to EPDM polymer to achieve certain properties. Heat resistance, flexibility, and UV stability are all improved by this technique. The compounded EPDM is next processed through extrusion, calendaring, or moulding, according on the desired final product. Sheets, profiles, gaskets, and other materials could be used. Vulcanization, which involves treating EPDM with heat and sulphur or other cross-linking agents, is a vital step. Completed EPDM products are distributed through a network of suppliers, distributors, and wholesalers to end users in a variety of industries. EPDM is used for weatherstripping, sealing, roofing, and wire insulation in industries such as automotive, construction, and electrical.
*Ethylene Propylene Diene Monomer Market Opportunity Analysis*
EPDM has numerous applications in the automobile industry, particularly in the production of weatherstrips, gaskets, and seals. As the automotive industry grows, so does the demand for durable and long-lasting materials like EPDM. EPDM is a popular building material due to its waterproofing and weather-resistant properties, particularly for roofing membranes and seals. The increased emphasis on environmentally friendly and energy-efficient building procedures creates new opportunities. EPDM is a great material to use in solar panel installations and other renewable energy applications. It is an ideal choice for outdoor applications due to its resistance to UV radiation and weathering, contributing to the growth of the renewable energy sector. Exploration and development into newer markets may open up new avenues for EPDM growth.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the* "**Global Ethylene Propylene Diene Monomer Market** Size By Product (Hoses, Seals & O-Rings), By Application (Building & Construction, Tires & Tubes, Automotive), By Region, And Segment Forecasts, By Geographic Scope And Forecasts to 2032."*
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*Insights by Product*
The seals and O-rings product segment accounted for the largest market share over the forecast period 2023 to 2032. EPDM seals and O-rings play an important role in the automotive industry. The demand for high-quality seals and O-rings has increased as the automotive industry increases, driven by traditional car manufacturing and the rise of electric vehicles. Seals and O-rings are utilised in a range of applications in the construction industry, including doors, windows, and infrastructure projects. EPDM is a popular choice due to its weather-resistant properties, which adds to the growth of this product category. In the electrical and electronics industries, EPDM seals and O-rings are utilised to provide insulation and protection in wire and electronic components. This sector has grown even more as demand for electronic gadgets and wiring solutions has increased.
*Insights by Application*
The automotive segment accounted for the largest market share over the forecast period 2023 to 2032. EPDM is commonly used in the automotive industry for weatherstrips due to its high resistance to weathering, UV radiation, and temperature variations. These weatherstrips seal around car doors, windows, and other openings. Because of its sealing properties, EPDM is a good material for making seals and gaskets in automotive applications. These parts are essential for preventing leaks and preserving the integrity of various systems such as engines and transmissions. EPDM is utilised in the manufacture of interior components such as air vent seals, dashboard gaskets, and other parts that must be durable and resistant to environmental impacts. EPDM remains a significant component in electric vehicles, despite the growing attention on them.
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*Insights by Region*
North America is anticipated to dominate the Ethylene Propylene Diene Monomer Market from 2023 to 2032. EPDM is widely utilised in the North American automotive industry for weatherstrips, seals, and other applications. EPDM demand is rising as the automotive industry expands, notably with the development of electric vehicles. EPDM is utilised in the North American construction sector for roofing membranes and seals due to its durability and weather resistance. EPDM demand is being bolstered by the ongoing expansion of construction and infrastructure projects. Because of North America's emphasis on renewable energy, EPDM has the potential to be used in solar panel installations. Because of its UV resistance, EPDM is perfect for outdoor applications in the renewable energy sector.
Asia Pacific is witnessing the fastest market growth between 2023 to 2032. Rapid development and urbanisation in nations like China and India increase demand for building materials like EPDM for roofing and sealing. Demand for EPDM in automotive components such as weatherstrips, gaskets, and seals is being driven by the Asia-Pacific automobile market, particularly in China. The Asia-Pacific electrical and electronics industry is increasing, which opens up new applications for EPDM, such as wire insulation and grommets. The developments in the Asia-Pacific EPDM market reflect a strong emphasis on industrial and infrastructure development, as well as an increasing demand for high-performance elastomers.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Players in the Global Ethylene Propylene Diene Monomer Market Includes DuPont (U.S.), Exxon Mobil Corporation (U.S.), Lanxess (Germany), Mitsui Chemicals, Inc (Japan), Sumitomo Chemical Co. Ltd (Japan), SK geo centric Co., Ltd. (South Korea), China Petrochemical Corporation (china), Johns Manville. (U.S.), Berkshire Hathaway Inc. (U.S.), JSR Corporation (Japan), KUMHO POLYCHEM (South Korea), Lion Elastomers (U.S), PJSC and Other Key vendors.
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*Recent Market Developments*
· In April 2021, HOLCIM purchased Firestone Building Products Company, LLC from Bridgestone Corporation for USD 3.4 billion in order to strengthen its position in the elastomer sector.
*Market Segmentation*
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
*Ethylene Propylene Diene Monomer Market, Product Analysis*
· Hoses
· Seals & O-Rings
*Ethylene Propylene Diene Monomer Market, Application Analysis*
· Building & Construction
· Tires & Tubes
· Automotive
*Ethylene Propylene Diene Monomer Market, Regional Analysis*
· North America
· US
· Canada
· Mexico
· Europe
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· South Korea
· Australia
· South America
· Brazil
· Argentina
· Colombia
· Middle East & Africa
· UAE
· Saudi Arabia
· South Africa
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