Ethylene Propylene Diene Monomer Market– Statistics And Analysis & Forecast To 2030Posted by Mrudula Anil Karmarkar on May 4th, 2023 The global ethylene propylene diene monomer market size is expected to reach USD 6.89 billion by 2030, registering a CAGR of 5.6% from 2022 to 2030, according to a new study by Grand View Research, Inc. Ethylene Propylene Diene Monomer (EPDM) is a type of high-density rubber, which is mainly used for outdoor applications. It offers excellent resistance to ozone, aging, and heat. In addition, it exhibits high electrical insulation, excellent low-temperature properties, and moderate physical strength. Elastomer blends have a high demand in various end-use industries due to the limitations posed by elastomers, such as silicone, EPDM, nitrile rubber, natural rubber, butadiene rubber, and neoprene. Often, the cost of superior-grade elastomers is high, which limits their use in various applications, such as automotive, construction, medical, industrial, consumer goods, and wires & cables. Elastomer blending is used for enhancing the performance characteristics of rubber products. Asia Pacific has established itself as a substantial contributor to global EPDM demand. End-use sectors including automotive, construction, and manufacturing are driving the product demand in the region, notably in India, China, and other Southeast Asian nations. Growing population and rapid urbanization & industrialization in developing economies have spurred federal governments to expand construction spending to meet the region's increasing infrastructure development. As a result, rising government construction investments, notably in China and India, are likely to stimulate product demand in infrastructure and construction applications. The automotive application segment dominated the global industry in 2021 and is likely to expand further at a steady CAGR from 2022 to 2030. Led by abundant demand in manufacturing radiators, heater hoses, door seals, and others globally, EPDM is witnessing augmented demand. Increasing utilization of EPDM in blends along with other polymers for car bumpers, rub strips, and fender extensions are also driving the industry growth. In addition, the growing automotive manufacturing sector in emerging economies is also influencing the demand for EPDM. Major ethylene producers in the industry include SIBUR, Formosa Plastics Group, China Petrochemical Corp., SABIC, Dow, Reliance Industries Ltd., Kuwait Petrochemical Corp., Royal Dutch Shell PLC, ExxonMobil Corp., and Zhejiang Petrochemical Group. Companies, such as China Petrochemical Corp. and Total S.A., are expected to lead the global industry, in terms of annual ethylene capacity additions. The global capacity is anticipated to rise from 184.5 million tons per annum to 261.7 million tons per annum by 2026. Nearly 116 new production plants are expected to be established in Asia and the Middle East regions over the coming years. To Request Sample Copy of this report, click the link: EPDM aids in producing aesthetically enhanced auto parts. In addition, the use of EPDM enables manufacturers to reduce their processing time and maximize profits. This has spiked the interest of regional automotive manufacturers in high-performance EPDM in North America. In the U.S., aerospace is one of the largest industries that is developing and supplying products & services to general aviation, commercial airline, space, and defense markets. The U.S. government’s Aviation Research Grants Program provides grants and cooperative agreements to encourage and support research related to civil aviation's market growth. According to the Federal Aviation Administration, in 2021, 20 grants with a total of USD 7,346,411.10 were awarded under the Aviation Research Grant Program 2021. This can drive seal manufacturing companies to develop new products aimed at catering to the aerospace market. For instance, in July 2021, scientists at Freudenberg Sealing Technologies developed 80 EPDM 426288, demonstrating superior low-temperature sealing behavior at extreme pressures and temperatures, making it suitable for the manufacture of seals to be used in commercial airliners. Thus, the growing aerospace industry is expected to positively impact the EPDM market in the U.S. aerospace sector over the forecast period. Ethylene Propylene Diene Monomer Market Report Highlights
As part of the region’s growth of hydrogen-powered cars, there has recently been an increasing need for the establishment of hydrogen fueling stations across the United States. For example, in February 2022, Iwatani Corp. of America and Chevron U.S.A., Inc. agreed to co-develop and build 30 hydrogen filling stations in California by 2026. According to the h2stations.org database, North America had 13 active hydrogen refueling stations by the end of 2021. The temperature of hydrogen gas at filling stations must be at -40°C before it can be poured into a car by a dispenser, increasing the requirement for cold-resistant seals. Since EPDM exhibits superior cold resistance, i.e., retention of elasticity at low temperatures (-40°C), EPDM-based seals can be used at hydrogen fueling stations. Thus, the rising number of hydrogen fueling stations is expected to drive the demand for EPDM-based seals in North America. According to the European Commission, the automotive industry accounts for a share of 7% of the total Gross Domestic Product (GDP) of the European Union. The automotive industry in the region was hit hard in the second half of 2022. This was mainly due to the rising raw material costs, the prevailing semiconductor crisis caused by the material shortage, and the ongoing Russia and Ukraine conflict. List of Key Players in Ethylene Propylene Diene Monomer Market
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