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The ethylene propylene diene monomer (EPDM) market share is expected to increase by USD 511 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.4%.
This ethylene propylene diene monomer (EPDM) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers ethylene propylene diene monomer (EPDM) market segmentations by end-user (automotive, molded goods, building and construction, lubricant additives, and others) and geography (APAC, North America, Europe, MEA, and South America). The ethylene propylene diene monomer (EPDM) market report also offers information on several market vendors, including Dow Inc., Eni Spa , Exxon Mobil Corp., JSR Corp., Kumho Polychem Co. Ltd., LANXESS AG, Lion Elastomers, Mitsui Chemicals Inc., SK global chemical Co. Ltd., and Sumitomo Chemical Co. Ltd. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing demand for synthetic rubber is notably driving the ethylene propylene diene monomer (EPDM) market growth, although factors such as volatility in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the ethylene propylene diene monomer (EPDM) market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Ethylene Propylene Diene Monomer (EPDM) Market Driver
Increasing demand for synthetic rubber is one of the key factors driving the growth of the global ethylene propylene diene monomer (EPDM) market. One of the major drivers of the growth of the global EPDM market is the growing demand for synthetic rubber. Synthetic rubber is an artificial elastomer produced using petroleum products. It exhibits properties similar to natural rubber. The different types of synthetic rubber include styrene-butadiene rubber (SBR), butadiene rubber (BR), styrene block copolymer (SBC), EPDM, and nitrile butadiene rubber (NBR). Synthetic rubber has many advantages over natural rubber, including durability, high abrasion resistance, enhanced heat resistance, and ease in production. Moreover, the price of natural rubber is highly volatile and is one of the major reasons for consumers shifting to synthetic rubber. For instance, in June 2021, Celanese Corporation, a chemicals and advanced materials producer, acquired Exxon Mobil Corporation’s Santoprene TPV elastomers business for over $1 billion, with the aim of catering to the increasing demand for Santoprene TPV elastomers in electric vehicles (EVs). As EPDM is one of the key raw materials used in the production of Santoprene, such trends are expected to fuel the growth of the EPDM market during the forecast period.
Key Ethylene Propylene Diene Monomer (EPDM) Market Trend
Growing demand for bio-based feedstock will fuel the global ethylene propylene diene monomer (EPDM) market growth. The use of bio-based feedstock in the manufacture of EPDM rubber is a growing trend. The development of renewable chemicals for manufacturing rubber is increasing rapidly to achieve sustainability and reduce greenhouse gas emissions. High prices and unreliable supplies of both petroleum raw materials and natural rubber have driven the use of renewable feedstocks to produce EPDM rubber. The major players in this market are focusing on producing synthetic rubber from bio-based raw materials. Sugar, glycerin, and other plant-based raw materials are evolving as economically viable materials to replace conventional feedstocks, including butadiene and isoprene. LANXESS, one of the major players, significantly invests in the development of renewable chemicals and advanced bio-feedstock. ARLANXEO, a joint venture between LANXESS and Saudi Aramco, produces an EPDM known as KELANTAN Eco, which is produced from bio-feedstock. The ethylene used in the manufacturing process of this EPDM is derived from ethanol produced from sugarcane. Thus, the focus of major market players on achieving cost-effectiveness and sustainability through the development of bio-feedstock will impact the growth of the global EPDM market.
Key Ethylene Propylene Diene Monomer (EPDM) Market Challenge
Volatility in raw material prices is a major challenge for the global ethylene propylene diene monomer (EPDM) market growth. Price fluctuations of raw materials that are used for manufacturing EPDM pose a major challenge to EPDM manufacturers. Naphtha monomers such as ethylene and propylene, the major raw materials used in EPDM, are manufactured from compounds such as ethane and propane, which are derived from oil and natural gas. Therefore, the prices of these petrochemicals are dependent on the prices of natural gas and crude oil. Due to the demand-supply imbalance and global geopolitical instability, the volatility of crude oil and natural gas prices in the overseas market has increased. This has resulted in a significant increase in the prices of these major petrochemicals. However, The decline in crude oil prices forced the chemical industry to sell its finished products at low prices. Any fluctuation in the price of crude oil negatively affects the price of naphtha, which, in turn, affects the prices of ethylene and propylene, which are derived from naphtha. Therefore, fluctuations in crude oil prices pose a major challenge to the growth of the market in focus during the forecast period.
This ethylene propylene diene monomer (EPDM) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global EPDM market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ethylene propylene diene monomer (EPDM) market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the ethylene propylene diene monomer (EPDM) market encompasses successful business strategies deployed by the key vendors. The ethylene propylene diene monomer (EPDM) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The ethylene propylene diene monomer (EPDM) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the ethylene propylene diene monomer (EPDM) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
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55% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for ethylene propylene diene monomer (EPDM) market in APAC. Market growth in this region will be faster than the growth of the market in regions.
Increasing demand for synthetic rubber will facilitate the ethylene propylene diene monomer (EPDM) market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of the COVID-19 pandemic affected the growth of the construction industry. Several construction projects were put on hold, owing to the lockdown measures implemented by the governments of different countries across the region to ensure public safety. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.
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The ethylene propylene diene monomer (EPDM) market share growth by the Automotive segment will be significant during the forecast period. The automotive segment is expected to be the largest end-user of EPDM during the forecast period. EPDM is used for manufacturing brake parts, windshield wipers, radiators, glass run channels, tire sidewalls, seat belts, body and window sealing, roofing membranes, and front and rear bumpers. The properties of EPDM, including weather resistance, waterproof, lightweight, and flexibility, drive its use in the automotive segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the ethylene propylene diene monomer (epdm) market size and actionable market insights on post COVID-19 impact on each segment.
Ethylene Propylene Diene Monomer (EPDM) Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.4% |
Market growth 2021-2025 |
$ 511 million |
Market structure |
Fragmented |
YoY growth (%) |
8.97 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 55% |
Key consumer countries |
China, US, Germany, India, and Saudi Arabia |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Dow Inc., Eni Spa , Exxon Mobil Corp., JSR Corp., Kumho Polychem Co. Ltd., LANXESS AG, Lion Elastomers, Mitsui Chemicals Inc., SK global chemical Co. Ltd., and Sumitomo Chemical Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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