Ethylene Propylene Diene Monomer Global Market Report 2024: Market Size To Reach $6.3 Billion By 2028

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LONDON, LONDON, UNITED KINGDOM, November 29, 2024 /EINPresswire.com/ -- What does the future hold for the Ethylene Propylene Diene Monomer market size in 2024 and beyond?

The ethylene propylene diene monomer EPDM market has shown robust growth in recent times, predicted to soar from $4.16 billion in 2023 to $4.53 billion in 2024, reflecting a compound annual growth rate CAGR of 8.8%. This surge within the historic period is backed by numerous factors including the escalating growth in the automotive industry, development in construction and infrastructure, substitution of conventional materials, increased resilience, and stringent environmental regulations.

Projections for the Ethylene Propylene Diene Monomer Market?

Looking ahead, the EPDM market appears poised for significant expansion. Predictions slate its growth to reach an impressive $6.39 billion by 2028, spurred on by a CAGR of 9.0%. The upswing in the forecast period can be accredited to an increased interest in automotive electrification, uptake in solar energy installations, reinforced roofing, low-voc requirements, and infrastructure rehabilitation. Several key trends forecasted to stimulate this period include application in electric vehicle ev sealing, 3D printing, and the proliferation of advanced sealing technology and custom EPDM compounds.

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What is Fuelling the Growth of the Ethylene Propylene Diene Monomer Market?

A key drive in the market is the proportionate increase in demand for zero-emission vehicles. Conventionally known as 'clean' vehicles, these cars do not emit harmful gases or pollutants, offering multiple advantages such as lower maintenance and running costs as well as zero tailpipe emissions. The EPDM has become a vital contributor in zero-emission vehicles manufacturing due to its noise reduction capabilities and its adherence to metal, forming an effective barrier against weather, road surface, and engine vibration. As per the International Energy Agency IEA, sales of electric cars surged by 40% in 2020, with an estimated increase to 300 million units by 2030. This heavy demand for zero-emission vehicles bodes well for the EPDM market.

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Who are the Key Players in the Ethylene Propylene Diene Monomer Market?

Major corporations functioning in EPDM market space include The Dow Chemical Company, Exxon Mobil Corporation, Firestone Building Products Company LLC, Johns Manville Inc., KUMHO POLYCHEM, The Goodyear Tire & Rubber Company, Kumho Polychem, Carlisle Companies Inc., PetroChina, Versalis S.p.A., Sumitomo Chemical, JSR Corporation, Nizhnekamskneftekhim, Polimeri Europa, Jilin Xingyun Chemical, Lion Elastomers, Eni Versalis, Arlanxeo, Mitsubishi Chemical Corporation, Zhejiang Cenway New Materials, Formosa Plastics Corporation, SABIC, TSRC Corporation.

What are the Emerging Trends in the Ethylene Propylene Diene Monomer Market?

Product innovation appears to be a rising trend in the EPDM market. The majority of the market players are focusing on formulating innovative products and technologies to deliver increased durability and high performance which is in line with changing technology, membrane research, and contractor needs for more ergonomic products.

How is the Global Ethylene Propylene Diene Monomer Market Segmented?

The global EPDM market extends across multiple segments:

1 By Manufacturing Process: Solution Polymerization Process, Slurry And Suspension Process, Gas-Phase Polymerization Process
2 By Sales Channel: Direct Sales, Indirect Sales
3 By Application: Automotive, Building, And Construction, Manufacturing, Electrical And Electronics, Other Applications

Which Regions are Making a Mark within the Ethylene Propylene Diene Monomer Market?

In 2023, the Asia-Pacific region dominated the EPDM market with North America trailing closely. The report encompasses a comprehensive regional analysis, covering the Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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