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Ethylene Propylene Diene Monomer Global Market Report 2022: Ukraine-Russia War Impact
Major players in the ethylene propylene diene monomer market are 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, SK Global Chemical Co Ltd, Sumitomo Chemical Co Ltd, Versalis SpA, Warco Biltrite, Rubber Engineering and Development Company (REDCO), West American Rubber Company LLC and JSR Corporation.
New York, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ethylene Propylene Diene Monomer Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06364854/?utm_source=GNW
The global ethylene propylene diene monomer market is expected to grow from $3.52 billion in 2021 to $3.80 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The ethylene propylene diene monomer market is expected to grow to $4.97 billion in 2026 at a compound annual growth rate (CAGR) of 6.9%.
The ethylene propylene diene monomer market consists of the sale of ethylene propylene diene monomer (EPDM) products by entities (organizations, sole traders, and partnerships) that are used for roofing for waterproofing, as EPDM seals.Ethylene propylene diene monomer refers to a synthetic rubber composed of ethylene, propylene, and diene monomers that is resistant to outdoor and high-temperature conditions.
It exhibits properties such as ozone, UV, heat, polar solvents, water-based chemicals, and ageing resistance due to its stable polymer backbone structure.
The manufacturing process of ethylene propylene diene monomer includes a solution polymerization process, slurry and suspension process, and gas-phase polymerization process.Solution polymerization refers to a method of polymerization where a monomer is combined with a hydrocarbon solvent and a catalyst, which results in a polymer.
This process allows easy heat transfer in solvents, generates a low viscosity mixture, is simple and economical, and the bulk polymer does not require any additives.The sales channel of ethylene propylene diene monomer includes direct sales and indirect sales.
The application of ethylene propylene diene monomer includes automotive, building and construction, manufacturing, electrical and electronics, and other applications.
Asia Pacific was the largest region in the ethylene propylene diene monomer market in 2021. The regions covered in the ethylene propylene diene monomer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in demand for zero-emission vehicles is driving the growth of the ethylene propylene diene monomer (EPDM) market.Zero-emission vehicles mean vehicles that do not emit harmful gases or pollutants and offer a wide range of advantages, such as low maintenance costs, low running costs and zero tailpipe emissions.
Ethylene propylene diene monomer is utilized in zero-emission vehicles because it has noise-reducing qualities and attaches readily to metal, providing a solid barrier against weather, road surface, and engine vibration.According to the International Energy Agency (IEA) report, sales of electric cars reached 3 million units in 2020, a 40% increase from 2019, and are estimated to reach 300 million units by 2030.
Therefore, the increase in demand for zero-emission vehicles is driving the ethylene propylene diene monomer (EPDM) market.
Product innovation is a key trend gaining popularity in the ethylene propylene diene monomer (EPDM) market.Major market players are concentrating on creating innovative products for delivering durable, high-performance products to meet industry demand in response to technology improvements, membrane research, and contractor requirements for more ergonomic products.
For instance, in October 2019, DOW Inc., a US-based commodity chemical company, launched two new tailored EPDM product grades, NORDEL 4590 EPDM and NORDEL 4750 OE EPDM. The new grades assist manufacturers in producing long-lasting, high-performance extruded profiles and TPV items such as vehicle weather-stripping, hoses, molded rubber goods, and building and construction materials. This innovation could improve manufacturing efficiency in product handling, mixing, processing, and high filler loading areas.
In May 2021, Kumho Petrochemicals, a South Korea-based chemical company, acquired Kumho Polychem for an undisclosed amount.The acquisition of Kumho Polychem aimed to strengthen Kumho Petrochemicals’ competitive advantage in the synthetic rubber business.
Kumho Polychem is a South Korea-based chemical company that manufactures ethylene propylene diene monomer.
The countries covered in the ethylene propylene diene monomer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The ethylene propylene diene monomer market research report is one of a series of new reports that provides Ethylene propylene diene monomer market statistics, including ethylene propylene diene monomer industry global market size, regional shares, competitors with ethylene propylene diene monomer market share, detailed Ethylene propylene diene monomer market segments, market trends and opportunities, and any further data you may need to thrive in the ethylene propylene diene monomer industry. This ethylene propylene diene monomer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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