Global Maleic Anhydride Grafted EPDM Market Size To Exceed USD 2.23 Billion By 2033 | CAGR Of 6.22%
Category: Chemicals & MaterialsGlobal Maleic Anhydride Grafted EPDM Market Size To Exceed USD 2.23 Billion By 2033 | CAGR Of 6.22%
According to a research report published by Spherical Insights & Consulting, the Global Maleic Anhydride Grafted EPDM Market Size Expected to Grow from USD 1.22 Billion in 2023 to USD 2.23 Billion by 2033, at a CAGR of 6.22% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the "Global Maleic Anhydride Grafted EPDM Market Size, Share, and COVID-19 Impact Analysis, By Application (Automotive, Building & Construction, Electrical & Electronics, and Others), By End User (Manufacturing, Construction, Automotive, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/maleic-anhydride-grafted-epdm-market
The market for maleic anhydride grafted EPDM (Ethylene Propylene Diene Monomer) is the industry that manufactures and distributes this product. This material's remarkable thermal stability, flexibility, and weather resistance make it a popular choice for high-performance applications such as electrical components, building materials, and automobile parts. Because of their superior properties, such as greater mechanical strength, resistance to weather, and excellent thermal stability, high-performance materials are becoming more and more in demand in the automotive and construction sectors. The primary development driver driving this market is this. The electrical and electronics sector also has a big impact on the market's growth. One of the main drivers of the market for maleic anhydride grafted EPDM is the growing automotive industry. The material's unique properties, such as its excellent resistance to heat, oxidation, and weathering, make it ideal for automobile parts including gaskets, hoses, and seals. It is projected that when the automotive industry undergoes a substantial upswing as a result of increasing vehicle production and the transition to electric vehicles, the need for such advanced materials will grow. Fuel economy and pollution reduction have led to the adoption of lightweight and durable materials, which further supports market expansion. However, one of the biggest challenges is the volatility of raw material prices, which can impact both the entire cost of manufacturing and the profitability of companies. The availability and price volatility of raw materials like ethylene and propylene might present challenges for market participants.
The automotive segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the global maleic anhydride grafted EPDM market is categorized as automotive, building & construction, electrical & electronics, and others. Among these, the automotive segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The automotive industry holds a significant share of the market due to the material's exceptional properties, which make it suitable for a range of vehicle parts, such as hoses, weather strips, gaskets, and seals. Increased vehicle production and the shift to electric vehicles are two of the primary factors driving this market.
The manufacturing segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the end-user, the global maleic anhydride grafted EPDM market is categorized as manufacturing, construction, automotive, and others. Among these, the manufacturing segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. This material's exceptional mechanical properties, thermal stability, and resistance to harsh climatic conditions make it a popular choice in the industrial industry. It creates components that are durable and high-performing throughout a range of manufacturing processes.
Asia Pacific is projected to hold the largest share of the global maleic anhydride grafted EPDM market over the forecast period.
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Asia Pacific is projected to hold the largest share of the global maleic anhydride grafted EPDM market over the forecast period. Large cities, rapid industrialization, and the growing construction and automobile sectors in countries like China, India, and Japan are the main causes of this rise. The expanding infrastructure development projects and the rising need for high-performance materials in industrial processes are two of the main factors driving the market in this area. Government initiatives and investments in the construction and automobile sectors are also enhancing market prospects.
Europe is expected to grow at the fastest CAGR growth of the global maleic anhydride grafted EPDM market during the forecast period. Europe also holds a sizable share of the industry because to its emphasis on ecologically friendly construction practices and the presence of major automakers. The growing popularity of green buildings, energy-efficient infrastructure, and electric vehicles are the main factors propelling this industry. Government laws and initiatives supporting sustainable practices further enhance the economic prospects for maleic anhydride grafted EPDM in Europe.
Major vendors in the global maleic anhydride grafted EPDM market ExxonMobil Corporation, Dow Inc., Lanxess AG, Mitsui Chemicals, Inc., Sumitomo Chemical Co., Ltd., SABIC (Saudi Basic Industries Corporation), LG Chem Ltd., JSR Corporation, Kumho Polychem Co., Ltd., SK Global Chemical Co., Ltd., Versalis S.p.A, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global Maleic anhydride grafted EPDM market based on the below-mentioned segments:
Global Maleic Anhydride Grafted EPDM Market, By Application
- Automotive
- Building & Construction
- Electrical & Electronics
- Others
Global Maleic Anhydride Grafted EPDM Market, By End-User
- Manufacturing
- Construction
- Automotive
- Others
Global Maleic Anhydride Grafted EPDM Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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