“Increased demand of elastomers and growing domestic consumption in China is driving the consumption of EPDM “
The global EPDM market is projected to reach USD 7.2 billion by 2031, registering a CAGR of 5.4% from 2022 to 2031. The market for EPDM is directly proportional to the demand for automotive, as major share of produced EPDM is used for the automotive industry. Asia-Pacific captures almost forty percent of the global EPDM market owing to the growing domestic consumption in China, rising investments by foreign companies, growth in automotive sector and rise in standard of living.
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“Lubricant additive, the fastest growing application for EPDM”
Lubricants are an indispensable feature of all machinery, ranging from applications which enable the manipulation of very small parts to the movement of very heavy masses. Its property to absorb oil makes it advantageous to be used in oil viscosity improving applications.
The key driver for the growth of EPDM is driven by the increase in automotive and building & construction industry. There is an accelerating demand for EPDM in the automotive industry as EPDM based products are used for several applications such as hoses, mechanical goods for under-hood applications, body sealing, weather-stripping, belts, engine mounts, brake parts, windshield wipers.
“Asia-Pacific, the fastest growing market for EPDM”
Asia-Pacific is estimated to be the fastest-growing market for EPDM market. The growth of the market in the region is attributed to expansion of production capacity, rapid increase in the automotive and building & construction industry. Also ease in the availability of raw materials, cheap labor, drives the EPDM market in the region. With the recent expansion activities by key players in the Asia-Pacific region; the demand for EPDM in this region is projected to register the highest CAGR between 2022 and 2031.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided under three categories: By Company; By Designation; and By Region.
• By Company Type- Tier 1- 20%, Tier 2- 20% and Tier 3- 60%
• By Designation- C Level- 20%, Director Level- 20% and Others- 60%
• By Region- North America- 40%, Europe- 40%, and Asia-Pacific- 60
The report also provides company profiles and competitive strategies adopted by the major market players, such ExxonMobil Chemical Company (U.S.), PetroChina Co. Ltd (China), SK Global Chemical Co. Ltd (South Korea), Mitsui Chemicals Inc. (Japan), Carlisle Companies Inc. (U.S.), DoW Elastomers (U.S.), John Manville Inc. (U.S.), JSR Corporation (Japan), Lanxess AG (Germany) and Kumho Polychem Co. Ltd (South Korea), among others.
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The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the EPDM market comprehensively and provides the closest approximations of the revenue for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights about the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers and acquisitions.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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