Global Ethylene Propylene Diene Monomer (EPDM) Rubber Market Size to Cross USD 7.2 Billion by 2029

Global ethylene propylene diene monomer (EPDM) rubber market is flourishing owing to growing product demand, R&D investment growth, and the demand for bio-based products.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimates global ethylene propylene diene monomer (EPDM) rubber market size at USD 4.98 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global ethylene propylene diene monomer (EPDM) rubber market size to grow at a CAGR of 5.52% reaching a value of USD 7.22 billion by 2029. Major factors for the expansion of global EPDM rubber market include rising financial support for the automotive sector in emerging nations like China, India, and others. Throughout the forecast period, there is expected to be a significant rise in demand for ethylene propylene diene monomer (EPDM) rubber due to the rapid expansion of application sectors like automotive and building & construction. Rapid growth in the U.S. construction and automotive industries has resulted in a sharp increase in the demand for EPDM in the North American region. However, high cost associated with market is anticipated to restrain the overall market expansion.

Global Ethylene Propylene Diene Monomer (EPDM) Rubber Market - Overview:
EPDM is also known as ethylene propylene diene monomer (M-class) rubber. To produce cross-linking sites that allow for vulcanization, ethylene, propylene, and a small amount of non-conjugated diene monomers (between 3 and 9 percent) are copolymerized. It is an elastic material with a wide variety of uses. The majority of applications for EPDM include electrical insulation, lamination, and gaskets. This is due to its high resistance to tearing, solvents, abrasives, and temperatures. It has excellent low- and high-temperature elasticity as well as good resistance to common dilute acids, ketones, and alkalis. It also exhibits good electrical insulating properties.

Opportunity: Expanding government spending

The demand for ethylene propylene diene monomer is expected to rise as a result of the projected increase in government spending on the healthcare industry (EPDM). Because they are waterproof, ethylene propylene diene monomer (EPDM) coatings are increasingly used on medical equipment. This is a significant factor that, over the forecast period, is expected to greatly expand the ethylene propylene diene monomer (EPDM) market's potential.

Challenge: High Market Prices

Global ethylene propylene diene monomer (EPDM) rubber market is expected to grow more slowly as a result of the process' high cost. Given the presence of other market alternatives, ownership is expensive. These are some of the key elements preventing the ethylene propylene diene monomer (EPDM) rubber market from expanding over the anticipated time frame. One of the main factors holding back market expansion is the rise in environmental concerns brought on by VOC emissions during EPDM manufacturing.

Impact of COVID-19 on Global Ethylene Propylene Diene Monomer (EPDM) Rubber Market

The COVID-19 pandemic had a detrimental impact on global market for ethylene propylene diene monomer (EPDM) rubber market. Due to the closure of manufacturing facilities, manufacturing companies are dealing with the disruption of the demand and product supply chains caused by the pandemic. In the post-pandemic era, expansion in the medical and healthcare industries is expected to support the global market for ethylene propylene diene monomer (EPDM) rubber, as it helps to improve the efficiency of the equipment. Therefore, coronavirus is significantly affecting the growth of the ethylene propylene diene monomer market (EPDM).

Global Ethylene Propylene Diene Monomer (EPDM) Rubber Market - By End User:
Global ethylene diene monomer (EPDM) rubber market is segmented by end-user into Automotive, Aerospace and Defense, Consumer Goods, Building and Construction, and Others. EPDM is a high-density synthetic rubber with properties that make it superior to natural and synthetic alternatives for automotive applications. Furthermore, due to its flexibility, resiliency, and excellent weather resistance, EPDM is the most commonly used material in the automotive industry. It's used in weather stripping, seals, sealant, wire and cable harnesses, and vehicle brake systems.

Competitive Landscape:
Global ethylene diene monomer (EPDM) rubber market is fiercely competitive, with DuPont, Exxon Mobil Corporation, Lanxess, Mitsui Chemicals, Inc, Sumitomo chemical co. Ltd, SK geo centric Co., Ltd., China Petrochemical Corporation, Johns Manville., Berkshire Hathaway Inc., JSR Corporation, KUMHO POLYCHEM, Lion Elastomers, PJSC "Nizhnekamskneftekhim'', American Rubber, Rotadyne Tools Pvt. Ltd., American Urethane, Argonics, Inc., Griffith Rubber Mills, and HINDUSTAN RUBBER INDUSTRIES. companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the global ethylene diene monomer (EPDM) market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Ethylene Diene Monomer (EPDM) Rubber Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Ethylene Diene Monomer (EPDM) Rubber Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.