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.
How Big is the Ethylene Propylene Diene Monomer Market?
The global ethylene propylene diene monomer (EPDM) market 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) is a synthetic monomer with a saturated polyethylene chain. It is a blend of three monomers such as ethylene, propylene, and diene, and is produced using suspension, solution polymerization, or gas-phase polymerization techniques. It is utilized in several applications, such as belts, roofing membranes, non-slip coatings, tubing, air ducts, plugs, window, and door seals, drain tubes, and trunk seals. It is also resistant to aging, oxidation, heat, chemicals, ozone, weathering, and ultraviolet (UV) rays. In addition, it provides superior tear strength, durability, flexibility, excellent noise reduction properties, and better bonding with metal. As a result, EPDM is widely adopted in the construction, electrical, automotive, manufacturing, and electronics sectors.
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What are the growth prospects and trends in the ethylene propylene diene monomer industry?
The market is primarily driven by the expanding automotive industry due to the increasing expenditure capacities and the growing population. EPDM is widely used in car parts, such as airbag covers and door and window seals. In addition, the rapid advancements in building and construction activities, including roofing solutions, podium decks, swimming pools, and basements due to their flexibility and eco-friendliness, are contributing to the market growth.
Moreover, various technological innovations, such as the introduction of bio-based EPDM to offer better adhesion on metal and oil resistance and temperature flexibility, represent another major growth-inducing factor. Besides this, the widespread adoption of EPDM in heating, ventilation, and air conditioning (HVAC) applications as it offers high electrical insulation and resistance against water and heat, is providing a positive thrust to the market growth.
Furthermore, rapid industrialization, extensive research and development (R&D) activities, and mergers and acquisitions (M&A) among key players are also creating 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:
- Building and Construction
- Electrical and Electronics
Market 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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