Ethylene Propylene (EPDM) Global Market
Overview and Scope
Ethylene propylene is a type of synthetic rubber formed as a terpolymer of ethylene, propylene, and a diene component. It is resistant to heat and electricity and is non-reactive towards acids and alkali compounds. Ethylene propylene is used in weather-stripping and seals, glass-run channels, radiators, garden and appliance hoses, tubing, belts, and electrical insulation.
Sizing and Forecast
The ethylene propylene (epdm) market size has grown rapidly in recent years. It will grow from $6.74 billion in 2023 to $7.47 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to automotive industry, construction and building materials, electrical and electronics, consumer goods.
The ethylene propylene (epdm) market size is expected to see strong growth in the next few years. It will grow to $10.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to renewable energy infrastructure, automotive electrification, green and sustainable materials, oil and gas sector. Major trends in the forecast period include bio-based epdm, high-performance formulations, recycled epdm, flexible electronics and conductive applications.
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Segmentation & Regional Insights
The ethylene propylene (epdm) market covered in this report is segmented –
1) By Product Type: Solution Polymerization, Suspension Polymerization
2) By Application: Automotive, Building & Construction, Plastic Modification, Lubricant Additive, Wires & Cables, Tires & Tubes
Asia-Pacific was the largest region in the ethylene-propylene market in 2023. Middle East was the second-largest region in the global ethylene-propylene market. The regions covered in the ethylene propylene (EPDM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The use of ethylene propylene across various industries contributes to the growth of the ethylene-propylene market. In the automotive industry, EPDM products bond well with metals by providing a well-built barrier against the environment. EPDM possesses properties such as heat resistance, abrasion resistance, oil swell resistance, flame retardance, oxidation, ozone, and weather aging due to its stable, saturated polymer backbone structure. Companies such as BRP manufacturing are providing EPDM for the automotive industry that includes under-the-hood, cabin pressure-equalizing assemblies, interior trim, and striker plate blinds. Thus, the usage of EPDM in different industries is contributing to the EPDM market’s growth.
Key Industry Players
Major companies operating in the ethylene propylene (EPDM) market include Dow Chemical Company, Exxon Mobil Corporation, Johns Manville Inc., Kumho Polychem Co. Ltd., Lanxess AG, Lion Elastomers LLC, Mitsui Chemicals Inc., SK Global Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., Versalis SpA, JSR Corporation, Saudi Arabia’s Basic Industries Corporation, SSME, Jilin Xingyun Chemical Co. Ltd., Lion Copolymer Holdings LLC, PetroChina Company Limited, Nizhnekamskneftekhim PJSC, BASF SE, China Petroleum and Chemical Corporation, Avient Corporation, Carlisle Companies Inc., Rubber Engineering & Development Company (REDCO), Firestone Building Products Company LLC, Warco Biltrite, Arlanxeo, Trelleborg Group, Freudenberg Sealing Technologies Limited, Parker Hannifin Corporation, James Walker & Co., ERIKS NV, Kemipex Chemicals Trading LLC, Kismet Rubber Products Corp, Carlisle SynTec Systems, Carlisle SynTec, GenFlex Roofing Systems LLC
The ethylene propylene (epdm) market report table of contents includes:
1. Executive Summary
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