Report Ocean (150+ country’s markets analyzed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the Neoprene. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The Neoprene study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the Neoprene.
The global neoprene market value was $1.5 billion in 2020. The global neoprene market is forecast to grow at a compound annual growth rate (CAGR) of 2.2% during the forecast period from 2021-2027.
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Neoprene is a rubber synthetically produced from chloroprene by free radical polymerization. In 1931, DuPont was the first company to commercialize the compound as an oil-resistant substitute for natural latex rubber. The advantages of neoprene over natural rubber latex and other synthetic materials are numerous. Neoprene offers excellent protection against oxidizing agents such as alcohols, oils, and acids and resistance to all acetonic solvents. It is also resistant to physical failures such as cuts and to damage caused by abrasion, flexing, and twisting. In addition to its UV resistance, ozone resistance, and weather resistance, the material also adheres well to fabrics and metals. In addition, Neoprene has good chemical stability, and it remains flexible at a wide range of temperatures. A polymer compound such that neoprene can also modify to produce compounds with diverse chemical and physical properties according to the product’s needs.
Factors Affecting
The global neoprene market is growing due to a rise in demand from the building & construction, and automotive industries. In addition, government initiatives in private and public infrastructure development are a significant factor driving the product demand in Asia-Pacific.
This surge in neoprene used in the automotive industry for power transmission belts, brakes & steering system components, oil seals, shock absorber seals, and tires will all contribute to the growth of the neoprene market.
Neoprene’s popularity will continue to be restricted by crude oil price volatility and the availability of efficient substitutes. During the forecast period, neoprene gloves are likely to gain popularity and generate growth opportunities for the market.
Covid-19 Impact
The market suffered from the outbreak of the COVID-19 in 2020. Neoprene commonly appears in automotive products, including rubber gaskets, O-rings, seals, hoses, and the construction industry’s products, including fire doors, electrical insulation, and waterproofing membranes. The declining automotive industry and a temporary halt on construction and automotive activities due to the pandemic lockdown negatively impacted the demand of the neoprene market. However, the requirement for neoprene products such as medical gloves has significantly increased, which, in turn, escalated the growth of the neoprene market.
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Regional Perspective
By 2020, Asia-Pacific held a significant share of the market. Due to rapid urbanization in the region, the construction industry has grown significantly due to the increased demand for new homes. Additionally, the government is implementing several housing projects, including “Housing for All” to provide urban/rural poor people with affordable housing and Smart City to outfit smart homes with modern amenities, a step likely to spur demand for neoprene in the region. The real estate and infrastructure sectors grew strongly despite the Covid-19 scenario. It would boost the construction and infrastructure markets in the area, thereby increasing neoprene demand there.
Key Players
The leading prominent players in the global neoprene market are:
- TOSOH Corporation
- Pidilite Industries
- Covestro AG, Lanxess
- Zenith Rubber
- Sundow Polymers Co., Ltd
- The 3M Company
- Denka Company Limited
- BGK GmbH Endlosband
- TuHuang Chemical Co.
Other competitors profiled in this market include:
Shanxi Synthetic Rubber Group Co Ltd.
- Canada Rubber Group
- ACRO Industries
- Others
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Aim of the Report
The global neoprene market segmentation consists of Product, End-User, and Region.
Segmentation based on Product
- Neoprene Sponge/Foam
- Neoprene Sheet
- Neoprene Latex
Segmentation based on End-User
- Automotive
- Electrical & Electronics
- Building & Construction
- Textiles
- Others
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
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- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Neoprene Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Neoprene market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Neoprene Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Neoprene market Size Forecast (2023-2030).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Neoprene market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Neoprene market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Neoprene market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Neoprene business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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