Press release
Growth Potential in Ethylene Propylene Diene Monomer Market Unveiled: Market Size and Key Drivers
Ethylene Propylene Diene Monomer Market
The ethylene propylene diene monomer (EPDM) market has witnessed robust growth, surging from $4.16 billion in 2023 to an estimated $4.53 billion in 2024, manifesting an impressive Compound Annual Growth Rate (CAGR) of 8.8%. Anticipated to continue this trajectory, the market is poised to reach $6.39 billion by 2028, sustaining a strong CAGR of 9.0%.
Driving Factors:
1. Accelerated Growth Through Zero-Emission Vehicles Demand:
The ethylene propylene diene monomer market is experiencing a significant boost, fueled by the escalating demand for zero-emission vehicles. As the automotive industry shifts towards eco-friendly solutions, EPDM proves integral for its noise reduction capabilities and weather-resistant properties, aligning perfectly with the requirements of zero-emission vehicles. The International Energy Agency (IEA) projects a remarkable increase in electric car sales, reaching 300 million units by 2030, further propelling the demand for ethylene propylene diene monomer.
2. Construction Industry Spurs Market Expansion:
The burgeoning construction industry emerges as a prime catalyst for the ethylene propylene diene monomer market's growth. EPDM's versatility plays a pivotal role in providing enduring protection against the elements, enhancing structural integrity, and contributing to the energy efficiency of buildings. With the construction sector witnessing substantial growth, as evidenced by an 8% increase in the overall value of construction in the US between 2020 and 2021, the demand for ethylene propylene diene monomer is expected to soar.
Explore the Global Ethylene Propylene Diene Monomer Market with a Detailed Sample Report:
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Key Players:
Major players shaping the ethylene propylene diene monomer market landscape include The Dow Chemical Company, Exxon Mobil Corporation, Firestone Building Products Company LLC, and Carlisle Companies Inc. These industry leaders contribute significantly to market innovations and advancements.
Trends:
1. Innovative Products Reshaping the Market:
Product innovation takes center stage as a key trend in the ethylene propylene diene monomer market. Major players focus on creating innovative products to meet industry demands, responding to technological advancements, membrane research, and evolving contractor requirements. Notably, InterApp's launch of an EPDM liner for rubber-lined butterfly valves exemplifies the industry's commitment to delivering high-performance solutions.
2. Capacity Expansion to Meet Growing Demand:
In response to surging demand in automotive, construction, and other sectors, major companies are strategically expanding their production capacities. Arlanxeo's 15% increase in EPDM production capacity at its Changzhou plant in China, aimed at meeting growing industry demands, showcases the commitment of key players to cater to market needs.
Regional Insights:
Asia-Pacific stands as the largest region in the ethylene propylene diene monomer market in 2023, closely followed by North America. The comprehensive market coverage spans Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Segmentation:
The ethylene propylene diene monomer market covered in this report is segmented -
1) By Manufacturing Process: Solution Polymerization Process, Slurry And Suspension Process, Gas-Phase Polymerization Process
2) By Sales Channel: Direct Sales, Indirect Sales
3) By Application: Automotive, Building, And Construction, Manufacturing, Electrical And Electronics, Other Applications
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/ethylene-propylene-diene-monomer-global-market-report
Ethylene Propylene Diene Monomer Global Market Report 2024 from TBRC covers the following information:
Market size date for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Ethylene Propylene Diene Monomer Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ethylene propylene diene monomer market size, ethylene propylene diene monomer market drivers and trends, ethylene propylene diene monomer market major players, ethylene propylene diene monomer market competitors' revenues, ethylene propylene diene monomer market positioning, and ethylene propylene diene monomer market growth across geographies. The ethylene propylene diene monomer market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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