Ethylene Propylene (EPDM) Global Market Trends, Strategies, and Outlook by 2024-2033
Ethylene Propylene (EPDM) Market Trends, Strategies, and Outlook by 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 2, 2024 /EINPresswire.com/ — The ethylene propylene (EPDM) market has experienced robust growth in recent years, expanding from $6.74 billion in 2023 to $7.47 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to automotive industry, construction and building materials, electrical and electronics, consumer goods.
Strong Future Growth Anticipated
The ethylene propylene (EPDM) market is projected to continue its strong growth, reaching $10.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to renewable energy infrastructure, automotive electrification, green and sustainable materials, oil and gas sector.
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Growth Driver Of The Ethylene Propylene (EPDM) Market
Increasing demand for construction activities is expected to propel the growth of the ethylene-propylene market going forward. Construction refers to the activity of putting together various elements to create a structure for a specific location using a detailed design and plan. Ethylene-propylene diene monomer (EPDM) rubber is highly useful in construction activities due to its versatile properties, such as roofing membranes, waterproofing systems, weather stripping, and vibration isolation.
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Major Players And Market Trends
Key players in the ethylene propylene (EPDM) market include Dow Chemical Company, Exxon Mobil Corporation, Johns Manville Inc., Kumho Polychem Co. Ltd., Lanxess AG, Lion Elastomers LLC.
Major companies operating in the ethylene propylene market are focusing on developing innovative technology, such as Stelora, to preserve an upper hand in the market. Stelora is a new category of synthetic polymers that can be utilized for a variety of technologically sophisticated applications that high-temperature polymers are being utilized for.
Segments:
1) By Product Type: Solution Polymerization, Suspension Polymerization
2) By Application: Automotive, Building & Construction, Plastic Modification, Lubricant Additive, Wires & Cables, Tires & Tubes
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the ethylene-propylene market in 2023. Middle East was the second-largest region in the global ethylene-propylene market. The regions covered in the ethylene propylene (EPDM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Ethylene Propylene (EPDM) Market Definition
Ethylene propylene is a type of synthetic rubber formed as a terpolymer of ethylene, propylene, and a diene component. It is resistant to heat and electricity and is non-reactive towards acids and alkali compounds. Ethylene propylene is used in weather-stripping and seals, glass-run channels, radiators, garden and appliance hoses, tubing, belts, and electrical insulation.
Ethylene Propylene (EPDM) Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data 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 (EPDM) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ethylene propylene (EPDM) market size, ethylene propylene (EPDM) market drivers and trends, ethylene propylene (EPDM) market major players, ethylene propylene (EPDM) competitors’ revenues, ethylene propylene (EPDM) market positioning, and ethylene propylene (EPDM) market growth across geographies. The ethylene propylene (EPDM) market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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