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Chloroprene Rubber Market Research Report by Geographical Analysis and Forecast up to 2025
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The global chloroprene market has witnessed significant expansion due to increase in demand from the rubber industry, as raw material for adhesives and for various latex applications. Major demand for chloroprene rubber is witnessed from China, Japan, and the U.S. China, specifically, has a high consumption of chloroprene rubber and its utilization has increased due to the rise in number of manufacturing industries in the country. Developing countries in Latin America, Asia Pacific, and Eastern Europe witnessed robust demand for chloroprene. Economic growth, increasing automotive output, and emergence of manufacturing industries in these regions have led to the higher consumption of chloroprene rubber.
In terms of application, the chloroprene rubber market can be segmented into industrial maintenance, automotive, food industries, sealing and bearings. Chloroprene rubber is employed extensively in industrial applications as hoses and belts in automotives, as architectural rubber products, and also as general industrial materials. Earlier the application of chloroprene rubber was limited to electrical wires and adhesives; however, the market has changed dramatically and currently experiences considerable demand from automobile and industrial sectors.
In terms of geography, the global chloroprene rubber market can be segmented into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is estimated to be a significant and rapidly expanding market for chloroprene rubber due to consistent demand from China in diverse automobile and industrial component applications. The market in North America and Europe is anticipated to expand due to the increase in population and rapid industrialization. New technology development for replacing smoked rubber suppression with vulcanization in the chloroprene manufacturing process has also led to the expansion of the North America and Europe market.
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Key players operating in the global chloroprene rubber market include Denka Group, Asahi Kasei Chemicals Corporation, DuPont Performance Elastomers, Dow Chemical Company, Showa Denko K.K., Lanxess AG, Chongqing Longevity Salt and Chemical Co. Ltd., Tosoh Corporation, Nairit Plant CJSC, Zenith Industrial Rubber Products Pvt. Ltd., and Shanxi Synthetic Rubber Group Co. Ltd.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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