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Ethylene Propylene Diene Monomer Market: Growth Drivers, Key Trends and Market Size Forecast for 2024-2029
Ethylene Propylene Diene Monomer Market Size
Solidifying its role in the automotive and construction industries, the ethylene propylene diene monomer (EPDM) market's strong growth trajectory is set to continue, underpinned by industry growth, environmental regulations, and emerging trends.
What Is The Projected Market Size Of The Global Ethylene Propylene Diene Monomer Market And Its Growth Rate?
The global ethylene propylene diene monomer market has evolved considerably and is forecast to accelerate further.
• 2024 Market Size: $4.5 billion
• 2025 Market Size: $4.87 billion (8.4% CAGR)
• 2029 Market Size: $7.1 billion (9.9% CAGR)
Key factors underpinning this growth include robust automotive and construction industry growth, replacement of traditional materials, enhanced durability, and stringent environmental regulations.
What Is Driving The Growth In The Ethylene Propylene Diene Monomer Market?
The rising demand for zero-emission vehicles prominently drives the global ethylene propylene diene monomer market. These vehicles, devoid of harmful gas emissions offer several advantages including lower maintenance, operational costs, and no tailpipe emissions. The EPDM, with its multiple utilitarian properties, such as noise reduction and strong adherence to metal, serves as a formidable barrier against weather, road surface, and engine vibration. The International Energy Agency (IEA) reports electric car sales to have reached 3 million units in 2020, a 40% surge from the previous year, and are projected to reach 300 million units by 2030. Therefore, the escalating demand for zero-emission vehicles contributes significantly to the growth of the ethylene propylene diene monomer market.
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Who Are the Key Players Driving Ethylene Propylene Diene Monomer Market Growth?
Major companies propelling 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
• 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
What Are The Key Trends In The Ethylene Propylene Diene Monomer Market?
Key trends shaping the market include:
• Electric vehicle (EV) sealing
• 3D printing applications
• Advanced sealing technology
• Customized EPDM compounds
What Are The Segments Of The Global Ethylene Propylene Diene Monomer Market ?
The ethylene propylene diene monomer market segments include:
1) Manufacturing Process: Solution Polymerization Process, Slurry and Suspension Process, Gas-Phase Polymerization Process
2) Sales Channel: Direct Sales, Indirect Sales
3) Application: Automotive, Building and Construction, Manufacturing, Electrical and Electronics, Other Applications
Which Region Leads The Ethylene Propylene Diene Monomer Market?
Asia-Pacific was the largest region in the ethylene propylene diene monomer market in 2024. North America ranked second. The market report covers regions which include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Ethylene Propylene Diene Monomer Market Global Market Report?
- Market Size Analysis: Analyze the Ethylene Propylene Diene Monomer Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Ethylene Propylene Diene Monomer Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Ethylene Propylene Diene Monomer Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Ethylene Propylene Diene Monomer Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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