The global Polymethyl Methacrylate (EPDM) market is projected to grow from USD 3.6 Billion in 2022 to USD 4.8 Billion by 2027, at a CAGR of 5.9% during the forecast period The recovery of automotive sector in the APAC region is driving the EPDM market during the forecast period. Moreover, the development of eco-friendly technologies for production of EPDM and growing demand for electric & hybrid vehicles are new opportunities in EPDM market.
Automotive is projected to be the fastest-growing segment by application in EPDM market
Based on application, automotive is estimated to be the fastest-growing segment of EPDM during the forecast period. . China, India, Japan, and other South Asian countries are major regions involved in automotive production. The technological development and innovation in the automotive sector will enhance the market. The automotive industry in Asia is expected to recover by the end of 2022 with steady improvement in the Chinese automotive industry. According to the China Association of Automobile Manufacturers (CAAM), the total production of cars in 2021 increased by 3% year-on-year. NEVs will account for 25% of the sales by 2026. The changing regulatory scenario and government policies to support EVs boost the growth of the EPDM market.
Solution Polymerization Process is projected to be the fastest-growing segment by manufacturing process in EPDM market
Solution polymerization process is estimated to be the fastest-growing segment by manufacturing process in the EPDM market during the forecast period. EPDM is majorly produced via a polymerization in solution technique, as this technique has the ability to meet specific design needs of products.
Asia Pacific is projected to be the fastest growing segment in EPDM market by region
Asia Pacific is the fastest growing EPDM market in forecast period.The APAC region includes China, Japan, India, South Korea, Indonesia, and Malaysia as either major producers or markets for EPDM.
The automotive industry is the largest consumer of EPDM for various under weather-sealing, hoses, gasket, and under-the-hood applications. . The China is one of the leading producers and consumers of EPDM, globally. Asia Pacific dominates the EPDM market as most of the producers of EPDM are based in the Asia Pacific. New construction projects, and steady growth in automotive, are driving the EPDM market in the region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and sub segments and information gathered through secondary research.
The break-up of primary interviews is given below:
• By Company Type: Tier 1: 25%, Tier 2: 42%, and Tier 3: 33%
• By Designation: C-level Executives: 20%, Directors: 30%, and Others: 50%
• By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, ROW: 30%
Notes: Others include sales, marketing, and product managers.
Tier 1: >USD 1 Billion; Tier 2: USD 500 million–1 Billion; and Tier 3:
The companies profiled in this market research report include are ARLANXEO (Netherlands), DOW Inc. (US), Exxon Mobil Corporation (US), JSR Corporation (Kumho Polychem Co. Ltd.) (South Korea), PetroChina Company Limited (China), Versalis S.p. A.(Italy), SK Global Chemical Co., Ltd. (South Korea), Sumitomo Chemical Co., Ltd. (Japan), and Mitsui Chemicals, Inc. (Japan) and others
This research report categorizes the EPDM market on the basis of form, grade, end-use industry and region.The report includes detailed information regarding the major factors influencing the growth of the EPDM market, such as drivers, restraints, challenges, and opportunities.
A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, new product developments, and recent developments associated with the market.
Reasons to Buy the Report
The report will help 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 market sizes for the overall market and subsegments across verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, new product developments, and joint ventures.