Ethylene Propylene (EPDM) Global Market Report 2024

The ethylene propylene (epdm) market size has grown rapidly in recent years. It will grow from $6.74 billion in 2023 to $7.47 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth observed during the historical period can be attributed to several key factors, including the automotive industry, construction and building materials, the electrical and electronics sector, as well as the consumer goods industry. These industries played a significant role in driving growth during that period.

The ethylene propylene (epdm) market size is expected to see strong growth in the next few years. It will grow to $10.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The anticipated growth in the forecast period is linked to several significant factors, including the development of renewable energy infrastructure, the electrification of the automotive industry, the adoption of green and sustainable materials, and continued activity in the oil and gas sector. Moreover, key trends that are expected to shape this period encompass the utilization of bio-based EPDM, the development of high-performance formulations, the use of recycled EPDM, and the application of EPDM in flexible electronics and conductive applications. These factors are poised to significantly influence the business landscape and drive growth within the industry during the forecasted timeframe.

The growth of the ethylene-propylene market is underpinned by the extensive utilization of ethylene propylene (EPDM) across diverse industries. In the automotive sector, EPDM products offer robust adhesion to metals, creating an effective barrier against environmental factors. EPDM's properties, including resistance to heat, abrasion, oil swell, flame retardance, and endurance against oxidation, ozone, and weather aging, are a result of its stable and saturated polymer backbone structure. Companies like BRP Manufacturing are actively supplying EPDM to the automotive industry for various applications, including under-the-hood components, cabin pressure-equalizing assemblies, interior trim, and striker plate blinds. This widespread use of EPDM across different industries underscores its vital role in driving growth in the EPDM market.

The primary product types of ethylene-propylene include solution polymerization and suspension polymerization. Solution polymerization takes place within a solvent, which serves to maintain the reaction mixture's viscosity at an optimal level. This feature is advantageous for facilitating fluid flow and heat transfer throughout the process. The versatile applications of ethylene propylene encompass sectors like automotive, building and construction, plastic modification, lubricant additives, wires and cables, as well as tires and tubes.

The ethylene-propylene market research report is one of a series of new reports that provides ethylene-propylene market statistics, including ethylene-propylene industry global market size, regional shares, competitors with an ethylene-propylene market share, detailed ethylene-propylene market segments, market trends and opportunities, and any further data you may need to thrive in the ethylene-propylene industry. This ethylene-propylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ethylene-propylene market is anticipated to experience growth, primarily attributed to the rising demand for construction activities. Construction, involving the assembly of various components to create structured facilities as per detailed designs and plans, relies significantly on ethylene-propylene diene monomer (EPDM) rubber. EPDM's versatile properties make it a valuable resource in construction applications, including roofing membranes, waterproofing systems, weather stripping, and vibration isolation. For example, in June 2021, according to Stats NZ Tatauranga Aotearoa, a government data agency in New Zealand, building activities witnessed a 3.7 percent increase in March 2021. Residential activities also demonstrated growth, with a 4.3 percent increase in 2021 compared to the previous year. Furthermore, data from the US Census Bureau shows that the value of construction activities surged from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, reflecting a remarkable growth rate of 10.2 percent. Hence, the escalating demand for construction activities serves as a key driver propelling the growth of the ethylene-propylene market.

The growth of the EPDM market faces challenges due to the emission of volatile organic compounds (VOCs) during the manufacturing of ethylene-propylene. VOCs encompass a range of chemicals known to have adverse effects on both human health and the environment. Their release results in the dispersion of fine particulates into the atmosphere, leading to issues like smog formation and reduced visibility. For instance, the Hong Kong government has taken measures to address the issue of harmful VOC emissions by implementing regulations that prohibit the sale of products exceeding established limits for VOC emissions in the country. The elevated release of VOCs in the production of ethylene propylene has thus become a limiting factor in the market's growth, highlighting the need for sustainable and environmentally friendly manufacturing practices in the industry.

Prominent companies within the ethylene propylene market are actively engaged in the development of cutting-edge technology, exemplified by innovations such as Stelora, as a strategic approach to maintain a competitive edge in the market. Stelora represents a new category of synthetic polymers that can be employed in a range of technologically advanced applications, often requiring high-temperature polymers. For instance, in May 2023, Borealis AG, an Austria-based chemical company, introduced Stelora, a groundbreaking brand of engineering polymers that sets new benchmarks in terms of performance and sustainability. This innovative technology offers a fresh line of eco-friendly engineering polymers, serving as a replacement for traditional engineering polymers while delivering substantial enhancements in strength, durability, and heat resistance. It is designed to elevate the performance levels of existing solutions by bridging the thermal performance gap between high-temperature materials like PPS, PTFE, and PEEK films, and PP capacitor films. Such advancements underline the commitment of major players in the industry to stay at the forefront of technological progress and offer sustainable, high-performance solutions in the ethylene propylene market.

The growth of the EPDM market is being significantly influenced by a noteworthy trend. The increasing demand for ethylene propylene diene monomer (EPDM) rubber produced from bio-based feedstock. This trend reflects the industry's shift towards sustainability and reduced environmental impact. Renewable EPDM rubber relies on raw materials like sugar and glycerin, effectively replacing traditional feedstock such as isoprene and butadiene in the production of synthetic rubber. This transition contributes to a reduction in greenhouse emissions and aligns with sustainability goals. For instance, Keltan, a Netherlands-based company, has successfully introduced the first commercial bio-based feedstock, known as KELTAN ECo., which is based on renewable raw materials. The adoption of renewable EPDM rubber is poised to expand the market share of the EPDM industry, demonstrating a strong commitment to environmentally responsible and sustainable manufacturing practices.

Major companies operating 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, Mitsui Chemicals Inc., SK Global Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., Versalis SpA, JSR Corporation, Saudi Arabia's Basic Industries Corporation, SSME, Jilin Xingyun Chemical Co. Ltd., Lion Copolymer Holdings LLC, PetroChina Company Limited, Nizhnekamskneftekhim PJSC, BASF SE, China Petroleum and Chemical Corporation, Avient Corporation, Carlisle Companies Inc., Rubber Engineering & Development Company (REDCO), Firestone Building Products Company LLC, Warco Biltrite, Arlanxeo, Trelleborg Group, Freudenberg Sealing Technologies Limited, Parker Hannifin Corporation, James Walker & Co., ERIKS NV, Kemipex Chemicals Trading LLC, Kismet Rubber Products Corp, Carlisle SynTec Systems, Carlisle SynTec, GenFlex Roofing Systems LLC

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.

The countries covered in the ethylene propylene (EPDM) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The ethylene propylene market consists of the sales of ethylene propylene made with ethylene and propylene alone, and ethylene propylene made with small amounts of a diene (generally ethylidene norbornene or 1,4-hexadiene). Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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