According to the research report titled ‘Global EPDM Market Size study, by application (Automotive, Building & Construction, Plastic Modification, Tires & Tubes, Wires & Cables, Lubricant Additives, Others) and Regional Forecasts 2021-2027’, available with Market Study Report, global EPDM market was worth USD 2.3 billion in 2020 and is expected to register 7.2% CAGR over 2021-2027 to reach a valuation of USD 3.7 billion by the end of the projected timeframe.
 

Rising adoption of the material in blended products, development of environment-friendly production technologies, and strategic initiatives by players to widen their presence are catalyzing the growth of global EPDM market.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4006465/
 

For instance, DOW Inc. launched two new EPDM product grades, namely NORDEL 4750 OE EPDM and NORDEL 4590 EPDM in October 2019, suitable for building & construction, automotive, and plastic modification applications.
 

Additionally, flourishing electric vehicle sector is providing new revenue streams for the manufacturers and fueling the industry expansion.
 

For the unversed, ethylene propylene diene monomer, abbreviated as EPDM, is an M-Class rubber that comprises elastomers having a saturated chain of polyethene type. EPDM is composed of propylene, ethylene, and a diene co-monomer which facilitates crosslinking through sulfur vulcanization.
 

This type of rubber is resistant to light, heat, and ozone. If M-class rubber is formulated properly, it can resist heat up to 150° C, and can be used outside without degradation for many years.
 

Elucidating on the bottlenecks, oversupply of material in the market, coupled with availability of substitute products are likely to hamper worldwide EPDM industry growth over the projected duration. 
 

From a regional point of view, Latin America, Europe, North America, and Asia pacific are major contributors to market remuneration. Among these, Asia Pacific industry is slated to register a substantial growth rate over the analysis timeframe, attributed to heavy investments by automotive manufactures as well as steady recovery of automotive sector in India, China, and other Southeast Asian countries.
 

Leading companies in global EPDM market include PJSC Nizhnekamskneftekhim (NKNK), SK Global Chemical Co., Ltd., Exxon Mobil Corporation, PetroChina Co., Ltd., Mitsui Chemicals Inc., Sumitomo Chemical Co., Ltd., Dow Inc., Versalis S.p.A., Arlanxeo Holding B.V., and JSR Corporation among others.