DUBLIN--(BUSINESS WIRE )--The "Global EPDM Market by application (Automotive, Building & Construction, Plastic Modification, Tires & Tubes, Wires & Cables and Lubricant Additives), Manufacturing Process, Region (North America, Europe, APAC, MEA, and South America) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global Ethylene Propylene Diene Monomer (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.

6 EPDM Market, by Manufacturing Process

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900