Neoprene Market Share, Size, Growth, Demand and Forecast Till 2024: IMARC Group

Global Neoprene Market Report, Trends, Growth and Outlook By 2024

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Report Description and Highlights

Report Description

Neoprene Market Report By Manufacturing Route (Butadiene Route and Acetylene Route ), Application (Technical Rubber , Adhesives Industry and Latex Industry ), End-User, Grade, Region The global neoprene market has witnessed moderate growth over the past few years. The growing demand for neoprene can be attributed to its extensive utilization in the construction, wires and cables, and automotive industries.

Market Overview: A new research report by IMARC Group, titled, estimates that the global neoprene market reached a volume of 384 kilotons in 2018. “Neoprene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” First manufactured by DuPont in 1930, neoprene is a synthetic rubber that is produced by the polymerization of chloroprene. Highly resistant to water, oils, solvents and heat, neoprene is chemically stable and flexible over a wide range of temperatures. Unlike natural rubber, neoprene maintains its integrity even at extremely high temperatures, which helps in increasing the shelf life of neoprene-based products. In addition, it does not degrade when exposed to sunlight and provides excellent adhesion to fabrics and metals. As a result, neoprene is employed in a variety of products such as laptop sleeves, orthopedic braces, electrical insulation, hoses, belts, springs, flexible mounts, gaskets, adhesives and automotive fan belts.

Report Description and Highlights

Report Description Market Trends:

Neoprene is extensively used as a building material owing to its ozone resistance, electrical resistance, and anti-weathering properties. On account of urbanization and increasing population, a rapid increase in construction activities has been witnessed which is boosting the sales of neoprene across the globe.

Apart from this, neoprene rubber is widely utilized in the cables and wires industry in the production of jacketing for heavy-duty cables and lead press cured mining cables. Rising demand for wires and cables from power supply companies has catalyzed the sales of neoprene. Moreover, it is utilized in the automotive industry for the manufacturing of hose covers, oil seals, power transmission belts, tires and steering system components. Burgeoning sales of luxury cars as a result of inflating disposable incomes are creating a positive outlook for the market. On account of these factors, the global neoprene market is anticipated to reach a volume of 498 kilotons by 2024, exhibiting a CAGR of around 4% during 2019-2024.

Global Neoprene Market Segmentation: Market Segmentation by Manufacturing Route o Butadiene Route Request for a sample report: https://www.imarcgroup.com/request?type=report&id=1143&flag=B

Market Forecast

Sample Figure: Global: Neoprene Market Forecast: Sales Volume (in Kilotons), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description o Acetylene Route

On the basis of the manufacturing route, the market has been bifurcated into the butadiene route and acetylene route. Amongst these, the butadiene route currently represents the most preferred manufacturing route for neoprene.

Market Segmentation by Grade • • • •

General-Purpose Grade Neoprene Pre-Crosslinked Grade Neoprene Sulfer-Modified Grade Neoprene Slow Crystallizing Grade Neoprene

Based on the grade, the market has been divided into the general-purpose grade, pre-crosslinked grade, sulfur-modified grade and slow crystallizing grade neoprene.

Market Segmentation by Application •

Technical Rubber

For more information, click here: https://www.imarcgroup.com/neoprene-market

Market Segmentation

Report Description • •

Adhesives Industry Latex Industry

On the basis of the application, the market has been categorized into technical rubber, adhesives industry and latex industry. Currently, neoprene is mostly used in the production of technical rubber.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

On the geographical front, Asia Pacific is the biggest market for neoprene, accounting for the majority of the global market. Other major regions include North America, Europe, Middle East and Africa, and Latin America.

Market Segmentation by End-User •

Automotive

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description • • •

Manufacturing Consumer Goods Medical

Based on the end-user, the market has been segregated into automotive, manufacturing, consumer goods and medical. Presently, the automotive segment is the biggest end-user of neoprene.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • • • • • • • •

Denka Lanxess Showa Denko Tosoh Zenith Rubber DowDuPont GK GmbH Endlosband Pidilite Industries Ltd. Covestro AG Asahi Kasei Corporation

Market Segmentation

Report Description

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Report Description and Highlights

Report Description

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