Ethylene Propylene Diene Monomer Market is projected to be worth USD 6.38 Billion by 2030, registering a CAGR of 5.15% during the forecast period (2022 - 2030)
Ethylene Propylene Diene Monomer Market Overview
The ethylene propylene diene monomer is an (M-class) rubber and a copolymer of ethylene, propylene. It has a wide range of applications in different industrial verticals, primarily accelerating the demand for the Ethylene Propylene Diene Monomer Market.
Ethylene Propylene Diene Monomers are high-density synthetic rubber with versatile properties and can withstand high temperatures (up to 215°C). It can exhibit excellent resistance to oxygen, ozone, sunlight and polar materials like phosphate esters, ketones, and alcohol. EPDM has good electrical properties such as low-temperature flexibility excellent resistance to heat, water, and steam, and it is an alternative to silicone for a similar temperature range. Due to these excellent features, the demand for the Ethylene Propylene Diene Monomer Market Sizeis accelerating worldwide.
EPDM is best suitable for electrical insulation, gaskets, and lamination application. This is due to its high resistance to solvents, abrasives, tearing, and temperatures. It has high elasticity at low and high temperatures with insulating properties and resistance to common diluted acids, ketones, and alkaline. The Ethylene Propylene Diene Monomer Market Growth is chiefly driven due to its higher and significant demand in the automotive industry with the high production and sales rate. It is widely used in the automotive industry for windshield wipers, radiators, seals and gaskets, brake parts, tubing, belts, weather-stripping, and others.
EPDM and EPM are Herdillia, JSR, Kumho Polychem, Mitsui Chemicals, Polimeri Europa, Bayer Polymers, Crompton Corp Exxon-Mobil Chemical Co., DSM Elastomers, Dupont Dow Elastomers, and Sumitomo Chemical Co. The projected demand for EPDM in India for 2016-17 was around 46 KTA.
EPDM is a replacement for thermoplastic olefins (TPO) and thermoplastic vulcanisates (TPV) in the plastic manufacturing sectors highly recommended by manufacturers. The rise in usage of advanced technologies in the production of plastic modification is encouraging the Ethylene
Propylene Diene Monomer Market Revenue.
Moreover, it is also used for manufacturing vehicle glazing systems, moisture barriers, engine mounts, valves, and pumps. The usage of EPDM in the construction sector for roofing membranes is a major driver of the global Ethylene Propylene Diene Monomer Market. The EPDM roofing contains titanium dioxide, which can reflect UV rays and reduce polymer degradation. It is waterproof and lowers the air-conditioning costs. The rise in investment in renovation, and construction projects, are highly propelling the market’s demand.
The rise in the construction industry due to the industrialization and urbanization activities are enhancing the economies of Asia-Pacific, and favorable government policies and initiatives are boosting up the infrastructure spending chemical manufacturing, which are setting huge opportunities for Ethylene Propylene Diene Monomer Industry.
The Ethylene Propylene Diene Monomer Market Value has reached a value of USD 3.9 billion in 2017 and is expected to register a CAGR of more than 5.15% and will reach USD 6.38 billion by 2030.
The COVID-19 pandemic has shown mixed impact on the Ethylene Propylene Diene Monomer Market Share. The manufacturing and production activities have halted the market's operational process. Launching new products and other improvements was not possible due to the lockdown guidelines. The market faced revenue loss, and the sales rate were decreased. But in the future days, the market players implement strategies to improve the consumers' rate. In the future days of the pandemic, the market will receive demand because of the strategies and developments. The key players are essentially playing their role to recover the loss of the market. Hence the Ethylene Propylene Diene Monomer Market has to experience a good share value during the forecast period.
Chief Factors Existing In The Market
The wide usage of Ethylene Propylene Diene Monomer in the construction sector is highly driving the Ethylene Propylene Diene Monomer Market. The advanced technology used for plastic modification is driving the global market.
The market challenges are acting as obstacles for the market during its progress. The less availability of raw materials is one of the major challenges, along with lack of proper research and usage.
The rise in the adoption of smart and green cities to reduce the harsh environmental impact of greenhouse gases, along with the initiatives taken, such as rainwater harvesting, is set to offer new growth opportunities to the market manufacturers.
The restraining factors are showing a negative impact on the market; the fluctuations in raw material costs are restraining the market growth during the forecast period.
Cumulative Evaluation Of The MarketThe cumulative evaluation report of the Ethylene Propylene Diene Monomer Market states the market's overview. The overview clearly states how the market is growing at a higher pace. The chief existing factors play a significant role in the market's growth. The drivers and opportunities are helping the market to achieve its goal while the challenges and constraints are limiting its growth. The pandemic has shown a moderate impact on the market. In the initial days, the growth rate was increased, while in the further days, the market noticed good demand. The key players' strategies and other positive factors will help the Ethylene Propylene Diene Monomer Market reach a good compound annual growth rate.
The Ethylene Propylene Diene Monomer Marketis classified into the application and end-use industry.
The application segment of the global market is categorized into roofing membranes, electric insulation, seals and gaskets, weather-stripping, tires and tubes, wire and cables, radiators, oil additives, and others. Its application in different products and processes is widely accepted in different industries’ operational processes.
The end-users section of the global market has been divided into automotive, electrical & electronics, consumer goods, building & construction, aerospace & defense, medical, and others. All these industrial verticals are widely using the Ethylene Propylene Diene Monomer due to its advantages.
According to the global growth of the Ethylene Propylene Diene Monomer Market, it is distributed into different continents such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Among these, the Asia-Pacific is noticed to occupy the largest market share of the Ethylene Propylene Diene Monomer Market Shareas per its past progress. Due to the higher demand for EPDM in major industry verticals such as electronics & electrical, automotive, building & construction, consumer goods, and medical. Rapid industrialization, supportive government policies, improved economic conditions, and cheap labor availability are the major growth of the regional market.
The European region is expected to notice significant demand for Ethylene Propylene Diene Monomer due to the higher production and sales rate of automobile components in the region and prominent regions such as Germany, the UK, France, Russia, and Italy. Growth factors such as support due to a rise in concern and stringent regulations by the European Union legislation for environmental protection and the higher investment in the medical sectors are driving the Ethylene Diene Monomer Market Growth.
North America will continue with significant CAGR during the forecast period due to the higher demand from industry verticals such as healthcare, electrical & electronics, automotive, and construction industries. Rapid industrialization in major countries such as Brazil and Chile is driving the product demand in the Latin American region.
The presence of an infrastructural hub in regions like GCC, UAE, and Saudi Arabia is propelling the demand for technical textiles used in the construction sector; this factor is driving the regional market of the regions.
Competitive Intensity Within The Industry
Industrial players in this market are focused on strategic growth initiatives such as product launch, expansion, and collaboration, among others, to meet the rising demand for the product and to strengthen their positions in the global market.
Recent Market Developments
In Dec 2021, Transient Plasma Systems Inc. (TPS) developed nanosecond pulsed-power systems to unlock the potential of low-temperature plasma for a variety of applications. It was closing the commercialization gap, including its development milestones in plug configuration, control software, and cost reduction. It successfully tested its kitchen consumption solution with a chief commercial kitchen equipment OEM, with a 90% decrease in particles and odor. Finally, the TPS surface treatment solution is demonstrated as extremely effective in treating difficult for bonding materials such as ethylene propylene diene monomer rubber and depositing dense, corrosion protection, defect-free coatings for biomedical applications, and barrier coatings.
The overview report of the Ethylene Propylene Diene Monomer Marketstudies states the market's recent growth. It has stated the predicted future growth rate. It is propelling rapidly due to the presence of growth drivers and opportunities. The restricting factors like the constraints and challenging factors show a negative impact, but the planned strategies will help the market grow smoothly. The market segmentation report stated the major segments and their types. Each of the segments has its significance. The regional status has shown the key continents and their countries where the market shows remarkable growth. The industrial players' involvement and development were responsible for the market's growth in various regions. The recent developments will help the market to rise with greater demand. The Ethylene Propylene Diene Monomer Market is estimated to attain a good CAGR and USD value during the review period.
Key Industrial Segments
By End-Use Industry
|Market Size||6.38 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors and Trends|
|Segments Covered||By application, end-use industry, and region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Johns Manville (US), Exxon Mobil Corporation (US), KUMHO POLYCHEM (South Korea), Dow (US), Carlisle Companies Inc. (US), LANXESS AG (Germany), SK global chemical Co., Ltd (South Korea), JSR Corporation (Japan), Mitsui Chemicals, Inc. (Japan), Lion Elastomers (US), Sumitomo Chemical Co., Ltd (Japan), SABIC (Saudi Arabia), and Firestone Building Products Company (US).|
|Key Market Opportunities||Manufacturers Area|
|Key Market Drivers||
The ethylene propylene diene monomer market is projected to grow at a 5.15% CAGR between 2022-2030
The ethylene propylene diene monomer market is predicted to touch USD 6.38 billion by 2030.
The Asia Pacific is expected to lead the ethylene propylene diene monomer market.
Growing construction industry and favorable government policies are adding market growth.
Fluctuating raw material prices may restrict market growth.