Ethylene Propylene Diene Monomer (EPDM) Market Size, Share & Trends Report

Ethylene Propylene Diene Monomer (EPDM) Market Size, Share & Trends Analysis Report By Product (Hoses, Seals & O-Rings), By Application (Building & Construction, Tires & Tubes, Automotive), And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-685-1
  • Number of Pages: 180
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the ethylene propylene diene monomer (EPDM) market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for ethylene propylene diene monomer (EPDM) market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of ethylene propylene diene monomer (EPDM) market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Ethylene Propylene Diene Monomer (EPDM) Market Categorization:

The ethylene propylene diene monomer (EPDM) market was categorized into three segments, namely product (Hoses, Seals & O-Rings, Gaskets, Rubber Compounds, Roofing Membranes, Connectors and insulators, Weather Stripping), application (Building & Construction, Wires & Cables, Electrical & Electronics, Lubricant Additive, Plastic Modifications, Automotive, Tires & Tubes), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The ethylene propylene diene monomer (EPDM) market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The ethylene propylene diene monomer (EPDM) market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fifteen countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; China; India; Japan; South Korea; Brazil; Argentina; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Ethylene propylene diene monomer (EPDM) market companies & financials:

The ethylene propylene diene monomer (EPDM) market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Dow - Dow, a company that emerged as a separate entity from Dupont in 2019, is headquartered in Midland, Michigan, U.S. Its operations are conducted through its subsidiary, The Dow Chemical Company. The Dow Chemical Company, established in 1897 and based in Michigan, U.S., operates in three segments: performance materials & coatings, industrial intermediates & infrastructure, and packaging & specialty plastics. The company serves various end users, including consumer, mobility, infrastructure, and packaging sectors. Its extensive product portfolio encompasses additives & modifiers, adhesives & sealants, amines & chelates, conductive materials, elastomers & plastomers, foam control agents, conformal coatings, intermediates & feedstocks, lubricants, monomers, optical materials, plastic additives, polyethylene, polyurethane, resins, silicones, specialty polymers, and surfactants. Within its elastomers & plastomers portfolio, the company manufactures ethylene diene monomer (EPDM) and markets it under the brand name NORDEL. As of December 2021, Dow operated 104 manufacturing facilities across the U.S., India, Thailand, and South Africa, catering its products to 31 countries. The company boasts a workforce of 35,700 individuals.

  • Exxon Mobil Corporation - Exxon Mobil Corporation, founded in 1999 and headquartered in Texas, USA, operates with three distinct business divisions: product solutions, low carbon solutions, and upstream. The upstream division encompasses oil exploration, shipping, wholesale operations, and extraction. On the other hand, the downstream segment focuses on refining, marketing, and retail operations. The product solutions division primarily deals with chemical and lubricant sectors, offering a wide range of rubber products. These rubbers find applications in various industries, including automotive, industrial, and consumer goods. Under the product solutions segment, the chemical division produces plastics, rubber, plasticizers, acids, additives, solvents & fluids, and other related products. These cater to end-use industries such as automotive, construction, lubricants, medical & healthcare, oil & gas, consumer goods, utility, and packaging. The plastics category includes polyethylene, polypropylene, and polymer modifiers of different grades. Notably, the company manufactures and sells ethylene propylene diene monomer products under the brand name Vistalon, widely used in the consumer, automotive, and industrial sectors. With numerous divisions and affiliates, including Esso, Exxon, ExxonMobil, Mobil, and XTO, Exxon Mobil Corporation operates manufacturing facilities across North America, South America, Europe, Asia Pacific, and the Middle East & Africa, effectively serving the needs of these regions. As of December 2021, the company possessed an impressive portfolio of over 8,000 active patents and employed approximately 63,000 individuals worldwide.

  • Firestone Building Products Company, LLC - Firestone Building Products Company, LLC was established in 1980 and has its headquarters in Nashville, United States. It operates as a subsidiary of HOLCIM, a renowned global manufacturer of construction materials such as aggregate, cement, and concrete. The company specializes in the production of roofing systems and offers a diverse range of products for industrial, residential, and commercial applications. These include TPM and EPDM roofing systems, coatings, modular systems, metal roofing systems, roofing insulation, asphalt roofing systems, and various roofing accessories. The company distributes its products through sales representatives in the United States, Canada, Latin America, and the Caribbean. Additionally, it provides solutions through contractors or installers within the United States. The company's EPDM manufacturing facilities are in Prescott, United States, and Terrassa, Spain. As of December 2021, Firestone Building Products Company, LLC employed approximately 1,900 individuals.

  • ARLANXEO - ARLANXEO, established in 2015, is a renowned synthetic elastomer manufacturer. It was formed as a joint venture between LANXESS, a leading German specialty chemicals company, and Saudi Arabian Oil Co., a prominent integrated energy and chemicals company based in Saudi Arabia. The company's headquarters are located in Hague, Netherlands, and it has been a wholly-owned subsidiary of Saudi Arabian Oil Co. since December 2018. This acquisition occurred when Saudi Arabian Oil Co. purchased LANXESS's 50% shares in ARLANXEO for USD 1.7 billion (EUR 1.5 billion). ARLANXEO specializes in the production of high-performance elastomers, including chloroprene rubber, ethylene propylene diene rubber, butadiene rubber, emulsion styrene butadiene rubber, ethylene vinyl acetate rubber, hydrogenated nitrile butadiene rubber, and nitrile butadiene rubber. These elastomers are sold under various brand names, such as Baymod, Baypren, Buna, Butyl, Keltan, Krynac, Levamelt, Levapren, Perbunan, and Therban. They find applications in pharmaceuticals, consumer goods, oil & gas, building & construction, tire manufacturing, and automotive industries. Under the Keltan brand, ARLANXEO produces ethylene propylene diene monomer. The company operates 12 production facilities across 13 European, North America, South America, and Asia countries. By strategically locating its business offices, research & development facilities, and production sites near its customers, ARLANXEO ensures reliable delivery and minimizes transportation distances. As of 2021, ARLANXEO holds 144 active patents and employs a workforce of 3,900. It serves approximately 1,000 customers worldwide, solidifying its position as a leading player in the industry.

  • Johns Manville - Johns Manville, founded in 1858 and headquartered in Colorado, U.S., operates in multiple countries, including the U.S., Canada, Mexico, Germany, and Slovakia. The company specializes in three main categories: insulation systems, commercial roofing, and engineered products. Its diverse range of products caters to various industries such as aerospace, filtration, automotive, transportation, waterproofing, wind energy, and commercial interiors. Johns Manville offers EPDM membranes, TPO & PVC thermoplastic membranes, SBS Bituminous membranes, BUR built-up membranes, and APP Bituminous membranes in the commercial flooring segment. With a workforce of approximately 8,000 employees as of July 2022, the company continues to thrive in the market.

  • Sumitomo Chemical Co., Ltd. - Sumitomo Chemical Co., Ltd., a member of the Sumitomo Group, was established in 1913 under the name Sumitomo Fertilizers. However, in 1934, it underwent a name change and became known as Sumitomo Chemicals. The company maintains two headquarters located in Tokyo and Osaka, Japan. Its operations are divided into several business segments: petrochemicals & plastics, health & crop sciences, IT-related chemicals, and pharmaceuticals. Within the petrochemicals & plastics segment, Sumitomo Chemical produces synthetic resins such as polyethylene, polymethyl methacrylate, and polypropylene. These resins are utilized in various industries, including automotive, construction, home appliances, and energy. The products manufactured by the company find applications in the production of carpets, automotive bumpers, food trays, panels, electrical insulations, coatings, wrapping films, signboards, and more. Sumitomo Chemical has manufacturing facilities in Japan, China, South Korea, Singapore, Saudi Arabia, and other countries. Additionally, it maintains sales offices in Japan, China, South Korea, Hong Kong, Singapore, and Saudi Arabia. The company is listed on the Tokyo Stock Exchange, and as of March 2021, it employed a workforce of 34,743 individuals.

  • KUMHO POLYCHEM - KUMHO POLYCHEM, founded in 1985 and headquartered in Seoul, South Korea, emerged from a joint venture between Japan Synthetic Rubber Co., Ltd. and Korea Synthetic Rubber Industry Co., Ltd. (now known as KUMHO PETROCHEMICAL). Renowned as one of the leading global producers of EPDM, KUMHO POLYCHEM boasts an impressive annual production capacity of 240,000 MT for this versatile rubber. EPDM, known for its exceptional resistance to chemicals, heat, and ozone, finds extensive application in the automotive industry. Its lower gravity than other rubber grades makes it ideal for manufacturing tire tubes, electric wires, hoses, and body sealing components. This quality and its economic feasibility position synthetic rubber as a preferred choice. As of December 2021, KUMHO POLYCHEM employed a dedicated workforce of 213 individuals.

  • Lion Elastomers - Lion Elastomers, established in 1992 and headquartered in Texas, U.S., specializes in the production and promotion of synthetic rubber. As an ISO-9001 and ISO-14001:2004 certified company, Lion Elastomers operates manufacturing facilities in Port Neches, Texas, and Geismar, Louisiana. The company's diverse product portfolio includes general styrene butadiene rubber (SBR), EPDM, specialty EPDM, emulsion/solution SBR, polybutadiene, styrene butadiene styrene (SBS), and hot polymerized SBR. Under the brand names Royalene and RoyalEdge, Lion Elastomers offers EPDM products catering to a wide range of elastomeric applications requiring heat, chemicals, and ozone resistance. Additionally, the company markets its specialty EPDM under the brand name Trilene. EPDM finds applications in the automotive industry, consumer hoses, wire and cable insulation, roof sheeting, viscosity modifiers in lubricants, window profiles, and weather seals.

  • Mitsui Chemicals, Inc. - Mitsui Chemicals, Inc., a Tokyo-based company established in 1997, has a diverse business portfolio that encompasses various sectors, including life & healthcare, mobility, ICT, and basic & green materials. The company specializes in producing elastomers and composite materials within its mobility segment. One of its notable products is EPDM, manufactured using olefinic polymerization technology and marketed under the brand name Mitsui EPT. Mitsui Chemicals, Inc. operates seven manufacturing sites, namely Nagoya Works, Ichihara Works, Mobara Factory, Osaka Works, Iwakuni-Ohtake Works, Tokuyama Factory, and Omuta Works. Additionally, the company has three domestic sales offices in Fukuoka, Osaka, and Nagoya. As of March 2022, Mitsui Chemicals, Inc. held 204,653,315 shares. Furthermore, the company boasts a global presence with operations in 31 countries and 18,780 employees as of March 31, 2022.

  • PetroChina Company Limited - PetroChina Company Limited, founded in 1988 and headquartered in Beijing, China, is a leading provider of petroleum-related products and services. The company operates in three main segments: oil exploration & production, refining & chemicals, and natural gas & pipeline. As a subsidiary of China National Petroleum Corporation, PetroChina Company Limited is majority-owned by the state-owned China National Petroleum Corp, holding over 80% of the stake. In 2021, the company achieved production of more than 1.6 billion barrels of oil equivalent. It possessed an annual crude oil primary distillation capacity of over 1.4 billion barrels and a network of over 22,000 service stations. The company's revenue is significantly influenced by fluctuations in the prices of natural gas, chemical products, refined products, and crude oil. PetroChina's chemicals find applications in various industries, such as electrical appliances, textiles, automotive, medicine, construction, and agriculture. The company offers multiple products, including basic petrochemicals, polyolefin, fibers, rubbers, intermediates, and other chemicals. PetroChina's rubber product line provides acrylonitrile-butadiene rubber, butadiene-styrene rubber, ethylene-propylene rubber, and polybutadiene rubber. According to PitchBook Data, Inc., as of March 2021, PetroChina Company Limited had a global workforce of 665,578 employees.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Ethylene Propylene Diene Monomer (EPDM) Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2019 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Ethylene Propylene Diene Monomer (EPDM) Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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