The global EPDM (Ethylene Propylene Diene Monomer) market, at US$6.48 bln in 2018 is expected to generate an estimated US$9.87 bln by 2026, at a CAGR of 5.4% between 2019 and 2026, as per a report by Zion Market Research.
The market is expected to witness substantial growth in the future, owing to the flourishing automotive industry in several regions across the globe. Additionally, the increasing use of EPDM for plastic modification applications and rising domestic consumption of EPDM in China is expected to further drive the global market over the forecast time period. The growing demand from the Asia Pacific is likely to provide new growth opportunities for the global EPDM market in the upcoming years. India and Malaysia are expected to be the major countries that will contribute to this market’s growth. Europe is another considerable market, which is expected to generate significant growth opportunities in the upcoming years, owing to the increasing demand fuelled by growing automobile production and the rising acceptance of EPDM in various applications. North America is expected to show significant growth in the EPDM (Ethylene Propylene Diene Monomer) market globally in the future. This can be attributed to the region’s developing automotive industry. Continuous investments made by various automakers in the U.S. are likely to further drive this regional market over the forecast timeframe. The growing demand for EPDM for various automotive applications is due to the shifting demand towards high-performance materials. The U.S. and Canada are expected to be major countries contributing to the North American market. The Middle East and Africa is expected to show significant growth in the market, owing to the growing automotive industry in the region. The rising demand for high heat and weather resistance and vibration-absorbing automotive parts in the automobile industry is the major factor expected to boost the market. Latin America is expected to witness moderate growth in the years ahead, owing to the growing demand by the Brazilian automotive sector. Brazil is expected to be the major contributor in this region.
The market is fragmented based on application into automotive, building and construction, tires and tubes, wires and cables, lubricant additives, and others. The automotive segment is expected to grow at the highest rate, owing to the wide EPDM usage in the automotive industry. EPDM in the automotive industry is used for manufacturing radiator, brake parts, wipers, glass-run channel, body sealing, engine mounts, and roofing membrane along with making vehicle glazing systems, moisture barriers, O-rings, valves, and pumps. This wide range of EPDM applications in the automotive segment is expected to drive this segment over the forecast time period.
EPDM (Ethylene Propylene Diene Monomer) is a synthetic rubber that is used in various applications. EPDM is made from ethylene, propylene and a diene comonomer and is compatible with polar substances, such as fireproof hydraulic fluids, hot and cold water, ketones, and alkalis. EPDM is commonly used in vehicles for making window seals, door seals, trunk seals, and hood seals. EPDM has a high resistance to solvents, tearing, extreme temperatures, and abrasives. EPDM can be finished to a particularly smooth surface along with having excellent elasticity at extremely high and low temperatures. EPDM is used in various industries like building and construction, tires and tubes, plastic modification, automotive, lubricant additives, and wires and cables.