EPDM Market Poised for Robust Growth of Over 60% by 2031 Driven by Asia Automotive and Electrical Sectors
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The global ethylene propylene diene monomer (EPDM) market is projected to grow from $4.4 billion in 2021 to $7.2 billion by 2031 due to demand from industries like electrical, construction, automotive, and plastics.
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Asia-Pacific accounts for the largest share (41.3%) of the global EPDM market currently due to robust growth in the automotive sector in China, India, and other Asian countries.
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Electrical insulation is a major application area for EPDM, as it can replace traditional rubber insulation at lower costs. This is driving significant demand.
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Key EPDM market players like Arlanxeo, Versalis, and Nordmann are expanding production capacities and distribution networks to leverage growth opportunities.
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North America and Latin America are also likely to see decent growth at an expected CAGR of 5.5% each until 2031, presenting expansion possibilities for market players.