Ethylene Propylene Diene Monomer Market Share, Strategies, Analysis and Forecasts Till 2030
Ethylene Propylene Diene Monomer Industry Overview
The global ethylene propylene diene monomer market size is expected to reach USD 9.0 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 6.5% from 2022 to 2030. The market is anticipated to be driven by growth in research & development investments as well as demand for bio-based products. Moreover, rising demand for ethylene propylene diene monomer (EPDM) across the Asia Pacific region owing to the increasing end-use industries such as automotive, construction, and manufacturing, particularly in India, China, and other Southeast countries is propelling the market growth.
Ethylene Propylene Diene Monomer Market Segmentation
Grand View Research has segmented the global ethylene propylene diene monomer market on the basis of application and region:
Based on the Application Insights, the market is segmented into Building & Construction, Wires & Cables, Electrical & Electronics, Lubricant Additive, Plastic Modifications, Automotive, Tires & Tubes, and Others.
- The automotive segment emerged as the largest application segment in 2021 and accounted for more than 40.0% share of the overall revenue.
- Some of the applications of EPDM in the automotive segment include hydraulic brake systems, wire & cable harnesses, tubing, window spacers, radiators, belts, weather stripping and seals, glass run channel, and door, window, and trunk seals.
- EPDM is widely utilized in the electrical and electronics industry owing to the increasing demand for a reliable and environment-friendly flexible insulation material in high-temperature applications.
- Lubricant additive is expected to emerge as the fastest-growing application segment over the forecast period. EPDM finds application as an additive in lubricants to enhance the viscosity index and performance in changing weather and temperature conditions.
Ethylene Propylene Diene Monomer Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies Profile & Market Share Insights
Key market participants have a vast geographical presence, coupled with large production capacities. Moreover, the market is characterized by the presence of various regional as well as local players with medium production capacities. These domestic players possess a considerable potential to influence the prices offered by these companies by lowering their own product prices.
Some prominent players in the global ethylene propylene diene monomer market include
- The Dow Chemical Company
- Exxon Mobil Corporation
- Firestone Building Products Company, LLC
- Johns Manville, Inc.
- KUMHO POLYCHEM
- Lanxess AG
- Lion Elastomers, LLC
- Mitsui Chemicals, Inc.
- PetroChina Company Limited
- Rubber Engineering & Development Company (REDCO)
- SK Global Chemical Co., Ltd.
- Sumitomo Chemical Co., Ltd.
- Versalis S.p.A.
- Warco Biltrite
Order a free sample PDF of the Ethylene Propylene Diene Monomer Market Intelligence Study, published by Grand View Research.