ETHYLENE PROPYLENE DIENE MONOMER (EPDM) MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America has established itself as the dominant player in the global EPDM market over the years. The region is expected to account for 35.5% of the market share in 2024. This region accounts for the largest share of the worldwide EPDM consumption primarily due to strong demand from various end-use industries like automotive, construction, and industrial machinery manufacturing. The automotive sector, in particular, depends heavily on EPDM for a variety of applications such as hoses, belts, gaskets and seals. Being the largest automotive market globally, North American automakers utilize significant amounts of EPDM annually. In addition, the robust presence of EPDM production facilities of major players such as ExxonMobil and Lion Elastomers across the U.S. and Canada has made this region self-sufficient in terms of supply.

Among the fastest growing regional markets for EPDM is Asia Pacific. Rapid industrialization and infrastructure development activities are driving the consumption of EPDM extensively in the construction and capital goods sectors across developing nations like China and India. The growing manufacturing process of Asia Pacific countries is also propelling the demand from the automotive industry. The cost competitiveness of EPDM manufacturing in Asia Pacific has enabled suppliers to gain market share in the exports market. Countries like China and South Korea have emerged as major exporters, with China is dominating the global EPDM trade flows. This region is quickly emerging as an alternative sourcing hub for EPDM globally. The attractive incentives offered by governments to promote rubber processing industries further cement Asia Pacific's rise in the EPDM landscape.