Ethylene Propylene Diene Monomer (EPDM) Market Size 2030

Report Description

The EPDM market size was valued at USD 5.1 billion in 2021 and is projected to reach USD 9.0 billion by 2030, expanding at a CAGR of around 6.5% during the forecast period, 2022 – 2030. The growth of the market is attributed to the rising implementation of EPDM in construction & building and automotive.

A synthetic elastomer called EPDM is created by copolymerizing propylene and ethylene with attached diene to cross-link the polymer. It is a type of synthetic rubber that has high fluid, ozone, weather, heat, and oxidized chemical resistance. Additionally, it is resistant to synthetic brake fluids, mild acids, ethylene glycol, water, and other liquids

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Traditionally, petroleum-derived raw ingredients like ethylene and propylene have been used to make EPDM. However, as end-use industries, particularly those in the automotive and transportation sectors, focus on decreasing their carbon footprint, major producers are incorporating the usage of renewable sources to improve the sustainability of finished goods.

When replacing technical products with renewable materials at first, high-performance rubber applications did not achieve the desired outcomes. However, performance-efficient variations have found a variety of uses in a number of industries as a result of numerous thorough research and development efforts.

The Covid-19 pandemic affected the demand and supply of EPDM market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Market Trends, Drivers, Restraints, and Opportunities

• Significant growth of the application industries, such as construction, building, and automotive, is expected to fuel the market during the forecast period.
• The demand for EPDM is projected to be driven by product innovation along with increased spending on R&D activities.
• Infrastructural development in the US has led to increasing demand for EPDM, which is driving the market.
• Consumers have shifted their attention away from expensive cars toward more practical vehicles, due to Increasing per capita income, which is estimated to boost the market.
• Significant factor impeding the market growth is the difficulty in recycling EPDM.
• Growing environmental issues due to VOC emissions during the manufacture of EPDM is expected to hamper the market growth.
• Development of environment friendly technologies for producing EPDM is anticipated to create lucrative opportunities for the market players.

Scope of EPDM Market Report

The report on the global EPDM market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

EPDM Market Segment Insights

The solution polymerization process segment is projected to grow at a rapid pace during the forecast period

Based on manufacturing process, the market is segregated into gas-phase polymerization process, slurry/suspension process, and solution polymerization process. The solution polymerization process segment is projected to grow at a rapid pace during the forecast period. Today's methods for polymerization and catalysts enable the creation of polymers that can be tailored to satisfy a variety of application and processing requirements.

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The automotive segment accounted for a major market share in 2021

On the basis of applications, the market is fragmented into tires & tubes, automotive, plastic modifications, lubricant additive, electrical & electronics, wires & cables, building & construction, and others. The automotive segment accounted for a market share of around 40% in 2021. Applications of automotive segment include trunk seals, window, door, glass run channel, weather stripping and seals, belts, radiators, window spacers, tubing, wire & cable harnesses, and hydraulic brake systems.

Due to its non-reflective and high-quality surface, the product is experiencing increased demand in automotive applications. Specialty coatings can also be used while making weather seats since they improve EPDM's chemical resistance. A robust rubber-sheathed cable called EPDM is made up of several conductors inside of a black sheath. It offers insulated electric cables a protective covering that is waterproof, abrasion and corrosion-resistant. Lead wire, electrical wiring for appliances, power cables, cables for welding, and direct burial cables are examples of common EPDM wires and cables. EPDM lead wire is frequently used due to its high dielectric strength, robust abrasion resistance, and superior mechanical qualities.

EPDM is widely used in the electrical and electronics industries due to the growing need for a dependable and environmentally safe flexible insulating material in high-temperature applications. EPDM has low maintenance & repair expenses and maintains its physical qualities the entire time it is in use. Additionally, it has exceptional resilience, a high level of stability, and the capacity to survive a wide range of normal weathering. Moreover, EPDM can be utilized as a water-resistant jointing medium for electrical cables.

The lubricant additive segment is expected to expand at a high CAGR during the forecast period. EPDM is used as a lubricant additive to improve performance and viscosity index in varying temperature and weather conditions. As a result, the oil structure is able to adjust to temperature variations and keep its grades. Few common uses of lubricant additives are industrial oil, maritime, heavy-duty diesel, lubricating greases, and motor oil for automobiles.

Asia Pacific dominated market in 2021

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominated the market in 2021. Growth of the segment in the region is attributed to increasing demand from the major industries such as electrical & electronics, building & construction, and automotive. Leading MNCs have been making large investments in the manufacturing sector in the Asia Pacific.

Investor interest in the market is also being sparked by the availability of inexpensive labor and the region's easy accessibility to raw materials. China is one of the major consumers and producers of EPDM on the planet. Companies from Northeast Asia are primarily working to stimulate economic growth in important fields like services, manufacturing, and exploitation of raw materials. The EPDM market is expanding due to ongoing research and development efforts. The growth of the market is estimated to be hampered by the high competition and strict labelling laws.

The market in Middle East & Africa is projected to grow at a substantial rate during the forecast period. Over the past few years, the industrial sector in Saudi Arabia has expanded steadily. The efforts by government to promote the development of the industrial sector and accomplish strategic and economic goals are projected to propel the market.

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