Ethylene Propylene Rubber Market Report 2023–2028: Global EPDM Market Thrives on Construction and Electric Vehicles Demand, Faces Oil
According to the report, Ethylene Propylene Rubber Market size was valued at USD 1,580.44 Million in 2020 and is projected to reach USD 2,823.28 Million by 2028, growing at a CAGR of 7.93 % from 2021 to 2028.
Ethylene propylene rubber is a copolymer of ethylene and propylene (EPR) combined with a third comonomer adiene (EPDM). It is used as packing material. Ethylene propylene has excellent water resistance and it retains this property up to temperatures as high as approximately 120–140°C. On a contrary, ethylene propylene rubber has poor resistance to mineral oil and fuel. Ethylene propylene rubber is classified under two different type including ethylene propylene monomer (EPM) and EPDM.
The growth of global ethylene propylene rubber market has been accelerated by increasing use of EPDM for plastic modification applications. It also finds wide range of applications in automotive weather-stripping and seals. In addition, ethylene propylene rubber is used as an additive in motor oils and used in the production of engine mounts, break parts and windshield wipers. However, raw material supply bottlenecks are expected to restrain the market growth in coming years. Nonetheless, increasing demand from automotive industry is expected to offer new opportunities for ethylene propylene rubber market in near future.
The report covers forecast and analysis for the ethylene propylene rubber market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on volume (kilo tons) & revenue (USD million). In order to give the users of this report a comprehensive view on the ethylene propylene rubber market, we have included a detailed value chain analysis. Study also covers Porter’s Five Forces model, which offers an insights view and intensity of competition within the market. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
The report provides detailed segmentation of the ethylene propylene rubber market based on application and region. Major applications includes automotive, tires & tube, lubricant additives, building & construction, plastic modifications, wires & cables and others.
Major regional segments analyzed in this study include North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The Asia Pacific is expected to be the fastest growing market in term of demand and this growth is attributed to the rapidly rising automotive sector in developing countries.
Key players profiled in the report include -
- ExxonMobil Chemical Company
- JSR Corporation
- LANXESS AG
- Firestone Building Products Company LLC
- Versalis
- Lion Copolymer LLC.
- Kumho Polychem Co. Ltd.
- SK Global Chemical Co. Ltd.
- Mitsui Chemicals.
The report segments the global ethylene propylene rubber market as follows:
Ethylene Propylene Rubber Market: Application Segment Analysis
- Automotive
- Building & Construction
- Plastic Modifications
- Tires & Tube
- Wires & Cables
- Lubricant Additives
- Others
Ethylene Propylene Rubber Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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