Global Ethylene Propylene Diene Monomer (EPDM) Market Growth, Trends, COVID-19 Impact and Forecasts: 4% CAGR Predicted Between 2021 and 2026 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Ethylene Propylene Diene Monomer (EPDM) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The market for ethylene propylene diene monomer is valued at 1,606.21 kilotons in 2020 and is expected to grow at a CAGR of more than 4% during the forecast period.
The global automotive supply industry is heavily impacted by the COVID-19 crisis, as both the production and sales of motor vehicles came to a sudden halt in most of the regions. These work stoppages led to a loss in the production of millions of vehicles across the world. According to OICA data, automotive production has registered a decline of 16% in 2020 to reach less than 78 million vehicles. This has negatively affected the demand for EPDM in 2020.
Over the medium term, the major factor driving the growth of the market studied is the rising construction sector across the globe primarily in developing nations. On the flip side, the decline in the automotive industry is expected to hinder the growth of the market studied.
The global construction industry is expected to reach USD 8 trillion by 2030, primarily driven by countries, such as India, China, and the United States. In the Asia-Pacific region, China has the largest construction market and is in the middle of a construction mega-boom. The country has the largest building market in the world, making up 20% of all construction investment, globally. The country alone is expected to spend nearly USD 13 trillion on buildings by 2030. Moreover, according to the National Development and Reform Commission of China, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion, which are expected to be completed by 2023. Also, in China there were about 482 buildings of more than 150 meters high under construction that were expected to complete by 2028. In South Korea, the government outlined its plan to build 830,000 housing units by the end of 2025 in the major cities. ?In 2020, the gross domestic product (GDP) contributed by the construction sector in South Korea was approximately KRW 88.8 trillion. Such factors in turn are expected to act in favor of the EPDM market in the construction sector.
Asia-Pacific dominated the market and is expected to continue its dominance during the forecast period. Asia-Pacific being a hub for both automotive and construction industries across the globe is the major region driving the demand for EPDM. The Chinese automotive manufacturing industry is the largest in the world, with a production share of just over 28% in 2019. The industry witnessed a slowdown in 2018, wherein production and sales declined. A similar trend continued in 2019, with the production declining to 25.7 million vehicles, which was a reduction by about 7.5% year-on-year. According to the China Association of Automobile Manufacturers (CAAM), automotive production declined by about 2% in 2020. The country produced 25,225,242 units in 2020, which declined from 25,750, 650 units in 2019. However, in Q1, 2021, production reached 6,352,028 which was an increase of over 81.7% over Q1 2020.
The construction industry grew at a strong pace in 2020, but growth was restricted due to the pandemic. The construction sector has supported economic growth in the country whenever major slowdowns have occurred. The country has the largest construction market in the world, encompassing 20% of all construction investments, globally. China is expected to spend nearly USD 13 trillion on buildings by 2030. According to the National Bureau of Statistics of China, the construction output value in the country increased from CNY 9.6 trillion in 2010 to CNY 26.59 trillion in 2020. The construction industry is the second-largest industry in India, with a GDP contribution of about 9%. This industry had showed promising growth in 2019, with a re-energized output of around 8%. It is predicted that the Indian construction industry is expected to emerge as the third-largest market in the world, with a size of almost USD 1 trillion by the end of the forecast period. All the aforementioned factors, in turn, are projected to have significant impact on the market during the forecast period.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
- ARLANXEO
- Dow
- ExxonMobil Corporation
- Firestone Building Products Company LLC
- Jilin Xingyun Chemical Co. Ltd
- Johns Manville
- Kumho Polychem
- Lion Elastomers
- Mitsui Chemicals Inc.
- PetroChina Company Limited
- SK global chemical Co. Ltd
- Sumitomo Chemical Co. Ltd
- Versalis SpA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/6iaf64
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
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
