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Ethylene Propylene Diene Monomer Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2022 - 2030
Ethylene Propylene Diene Monomer Market Size, Share & Trends Analysis Report By Product (Hoses, Seals & O-Rings), By Application (Building & Construction, Lubricant Additive), By Region, And Segment Forecasts, 2022 - 2030
New York, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ethylene Propylene Diene Monomer Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06360861/?utm_source=GNW
Ethylene Propylene Diene Monomer Market Growth & Trends
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. 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.
Ethylene Propylene Diene Monomer Market Report Highlights
• Asia Pacific dominated the overall industry in 2021 and is expected to grow at the fastest CAGR over the forecast period
• The automotive and construction industries in the Asia Pacific are growing considerably due to rapid urbanization, government expenditure, foreign investments, and consumer spending. Moreover, a surge in the demand for green buildings, particularly in China, is expected to drive the construction industry, thereby, driving the product demand
• Seals and O-rings was the largest product segment in 2021 and are also anticipated to dominate the industry over the forecast period
• EPDM rubber is widely used in the manufacturing of ‘O’ rings for aerospace, marine, and automotive applications due to its excellent resistance to non-polar solvents, acids, motor oils, diesel fuel, and gasoline. However, it performs poorly when exposed to the weather, ozone, UV light, and steam
• In March 2022, ARLANXEO’s EPDM plant in Changzhou announced to increase in its annual production capacity by 15%. This production expansion initiative is aimed to support the production of various Keltan grades for use in components for 5G construction, ultra-high voltage, charging piles, and big data centers in new infrastructure areas
Read the full report: https://www.reportlinker.com/p06360861/?utm_source=GNW
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