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Ethylene Propylene Diene Monomer Market Expansion: Uncovering Industry Trends, Market Dynamics, and Future Potential
Ethylene Propylene Diene Monomer Market
As per the report, the ethylene propylene diene monomer market size has grown strongly in recent years. It will grow from $4.16 billion in 2023 to $4.53 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The ethylene propylene diene monomer market size is expected to see strong growth in the next few years. It will grow to $6.39 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
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Growing Demand For Zero-Emission Vehicles Accelerates The Ethylene Propylene Diene Monomer (EPDM) Market
The increase in demand for zero-emission vehicles is driving the growth of the ethylene propylene diene monomer market. Zero-emission vehicles mean vehicles that do not emit harmful gases or pollutants and offer a wide range of advantages, such as low maintenance costs, low running costs and zero tailpipe emissions. Ethylene propylene diene monomer is utilized in zero-emission vehicles because it has noise-reducing qualities and attaches readily to metal, providing a solid barrier against weather, road surface, and engine vibration. According to the International Energy Agency (IEA) report, sales of electric cars reached 3 million units in 2020, a 40% increase from previous year, and are estimated to reach 300 million units by 2030. Therefore, the increase in demand for zero-emission vehicles is driving the ethylene propylene diene monomer market.
Innovative Products Driving The Ethylene Propylene Diene Monomer (EPDM) Market
Product innovation is a key trend gaining popularity in the ethylene propylene diene monomer market. Major market players are concentrating on creating innovative products for delivering durable, high-performance products to meet industry demand in response to technology improvements, membrane research, and contractor requirements for more ergonomic products. For instance, in January 2021, InterApp, a Swiss valves and actuators manufacturing company launched new innovative EPDM liner for its rubber lined butterfly valves Desponia and Desponia plus. The new EPDM liner boasts improved compression set and mechanical properties compared to other rubber compounds such as silicones or fluor elastomers. It is created for working conditions up to 16 bars. The company aims to fulfil the increasing demand for an elastomer compound in extreme temperatures and steam applications.
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
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Major companies operating in the ethylene propylene diene monomer market include The Dow Chemical Company, Exxon Mobil Corporation, Firestone Building Products Company LLC, Johns Manville Inc., KUMHO POLYCHEM, The Goodyear Tire & Rubber Company, Kumho Polychem, Carlisle Companies Inc., PetroChina, Versalis S.p.A., Sumitomo Chemical, JSR Corporation, Nizhnekamskneftekhim, Polimeri Europa, Jilin Xingyun Chemical, Lion Elastomers, Eni Versalis, Arlanxeo, Mitsubishi Chemical Corporation, Zhejiang Cenway New Materials, Formosa Plastics Corporation, SABIC, TSRC Corporation
Contents of the report:
1. Executive Summary
2. Ethylene Propylene Diene Monomer Market Report Structure
3. Ethylene Propylene Diene Monomer Market Trends And Strategies
4. Ethylene Propylene Diene Monomer Market - Macro Economic Scenario
5. Ethylene Propylene Diene Monomer Market Size And Growth
…..
27. Ethylene Propylene Diene Monomer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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