EPDM market worth $4.8 billion by 2027

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CHICAGO, June 10, 2022 /PRNewswire/ — According to new market research report EPDM market by Application (Automotive, Building & Construction, Plastic Modification, Tires & Tubes, Wire & Cable, and Lubricant Additives), Manufacturing Process, Region (North America, EuropeAPAC, MEA and South America) – Global Forecast to 2027“, published by MarketsandMarkets™, the market size is estimated at $3.6 billion in 2022 and should reach $4.8 billion by 2027, at a CAGR of 5.9% between 2022 and 2027.

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Automotive is the main application segment of EPDM. The recovery of the automotive sector in the APAC region is driving the EPDM market during the forecast period. Additionally, the development of environmentally friendly technologies for the production of EPDM and the growing demand for electric and hybrid vehicles are new opportunities in the EPDM market.

Automotive Application Holds Largest EPDM Market Share

EPDM rubber accounts for a significant portion of rubber parts used in automotive vehicles. China is an important market for automobiles. The country is focusing on the development of new energy vehicles (NEV). 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), total car production in 2021 increased by 3% year-on-year. NEVs will account for 25% of sales by 2026. In the automotive industry, EPDM is used in pipes, gaskets, body seals, weather stripping, brake parts, windshield wipers and other applications under the hood.

By manufacturing process, the solution curing process accounts for the largest share of the EPDM market

EPDM can be commercially manufactured in three main processes, solution, slurry (suspension) and gas phase. Polymerization and catalyst technologies make it possible to design polymers to meet specific and demanding application and processing needs. The solution polymerization process is the most widely used and is very versatile in the manufacture of a wide range of polymers

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By region, Asia Pacific accounted for the largest share of the global EPDM market

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 main producers and consumers of EPDM in the world. Asia Pacific dominates the EPDM market as most EPDM producers are based in the Asia Pacific. New construction projects and steady growth in automotive are driving the EPDM market in the region.

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

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