Epdm Market Expected to Reach US ~$4.06 Billion and CAGR 7.0% by 2028

The global EPDM market size is expected to reach USD 4.06 billion by 2028 according to a new study by Polaris Market Research.

EPDM is increasingly being used owing to rising industrialization and urbanization. Growing application in the construction industry and the development of public infrastructure has also boosted the industry growth. Rising application in the automotive sector and increasing use in electric vehicles have resulted in greater demand for the product. However, the COVID-19 outbreak has negatively impacted the EPDM industry due to supply chain disruption, operational challenges, transportation delays, and travel restrictions.

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The product is used in diverse industries such as building and construction, electrical and electronics, automotive, manufacturing, and others. The automotive segment accounted for the highest share in 2020. Increasing demand for passenger vehicles, modernization of vehicles, and the need for greater performance boost the segment’s growth.

Rising environmental consciousness, combined with government initiatives, is encouraging consumers to switch to electric vehicles. The growing need to reduce weight in automobiles for increased performance, technological advancements associated with the product, and rising investments in R&D have been observed across the globe.

Some major industry participants include Arlanxeo, Carlisle Companies, DOW Inc., ExxonMobil Corporation, Jilin Xingyun Chemical, JSR Corporation, Lanxess, Lion Elastomers, LLC., Mitsui Chemicals, Inc., PetroChina Company Limited, PJSC, SABIC, SK Global Chemical Co., Ltd., Sumitomo Chemical Co., Ltd., Versalis S.p. A.

Industry players are collaborating with each other for research and development, strengthening industry presence, and technological innovation. The greater need to cater to growing customer requirements has encouraged industry participants to leverage new technologies to develop high-quality products.

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Polaris Market Research has segmented the EPDM market report on the basis of end-use industry and region:

EPDM End-Use Outlook (Revenue, USD Million, 2016 – 2028)

  • Building and Construction
  • Electrical and Electronics
  • Automotive
  • Manufacturing
  • Others

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