EPDM Market worth $4.8 billion by 2027 | Key players ARLANXEO, DOW Inc., Exxon Mobil Corporation, JSR Corporation, Mitsui Chemicals, Inc.

The report "EPDM Market by application (Automotive, Building & Construction, Plastic Modification, Tires & Tubes, Wires & Cables and Lubricant Additives), Manufacturing Process, Region (North America, Europe, APAC, MEA, and South America) - Global Forecast to 2027", size is estimated to be USD 3.6 billion in 2022 and is projected to reach USD 4.8 billion by 2027, at a CAGR of 5.9% between 2022 and 2027. Automotive is the major application segment for EPDM. The recovery of automotive sector in the APAC region is driving the EPDM market during the forecast period. Moreover, the development of eco-friendly technologies for production of EPDM and growing demand for electric & hybrid vehicles are new opportunities in EPDM market.

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EPDM rubber account for significant portion of rubber parts that are utilized in automotive vehicle. China is a significant market for automobiles. The country is focused on developing new energy vehicles (NEVs). NEVs include fuel cell electric vehicles (FCVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). According to the China Association of Automobile Manufacturers (CAAM), the total production of cars in 2021 increased by 3% year-on-year. NEVs will account for 25% of the sales by 2026. In the automotive industry, EPDM is used in hoses, gaskets, body sealing, weather stripping, brake parts, windshield wipers, and other under-hood applications.

EPDM can be manufactured commercially in three major processes, solution, slurry (suspension), and gas-phase. Polymerization and catalyst technologies provide the ability to design polymers to meet the specific and demanding application and processing needs. Solution polymerization process is the most widely used and is highly versatile in making a wide range of polymers.

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Asia Pacific accounted for the largest share of the EPDM market in 2021, followed by North America and Europe. The China is one of the leading producers and consumers of EPDM, globally. Asia Pacific dominates the EPDM market as most of the producers of EPDM are based in the Asia Pacific. New construction projects, and steady growth in automotive, are driving the EPDM market in the region.

The leading players in the EPDM market are ARLANXEO (Netherlands), DOW Inc. (US), Exxon Mobil Corporation (US), JSR Corporation (Kumho Polychem Co. Ltd.) (South Korea), PetroChina Company Limited (China), Versalis S.p. A. (Italy), SK Global Chemical Co., Ltd. (South Korea), Sumitomo Chemical Co., Ltd. (Japan), and Mitsui Chemicals, Inc. (Japan and others.

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DOW Inc. is a manufacturer of chemical products for various end-use industries. The company operates through six global businesses divided into three segments: packaging & specialty plastics, performance materials & coatings, and industrial intermediates & infrastructure. The company has 106 manufacturing plants in 31 countries across the globe. The company has a global presence across the Americas, Asia Pacific, and EMEA. It has a diverse product portfolio. The company provides EPDM rubber under the packaging & specialty plastics business. The company provides EPDM under the brand name NORDEL. As of 2021, the company has over 35,700 employees, globally.

Versalis S.p.A is a subsidiary of Italian oil and gas company, Eni S.p.A. The company is engaged in the production of a range of chemicals. The businesses of the company are segmented into five divisions: Intermediates, Styrenics, Polyethylene, Biotech, and Elastomers. The production plants for elastomers are present in Italy, the UK, and South Korea.

R& D centers are present in Italy at Ravenna and Ferrara. The Ravenna plant in Italy is a significant producer of synthetic rubber across Europe. The total production capacity for EPDM is over 245 KTPY. The company provides EPDM under the elastomer division. The end users of the company's product include automotive, polymer modification, oil viscosity modifier, and building & construction. The company manufacture EPDM under the brand name DUTRAL. As of 2021, the company had 5,268 employees globally.

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