Global Neoprene Market Outlook, Opportunity and Demand Analysis, Forecast 2018-2024

The latest report on Neoprene Market by Infinium Global Research gives complete coverage of the neoprene Market by type (normal linear grades, pre-crosslinked grades, sulfur-modified grades and slow crystallizing grades), end user (latex, elastomers, coatings, building & construction, automotive and electrical) in terms of key trends, Global Industry Analysis, Trends, Size, Share and Forecasts to 2024, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of neoprene such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global neoprene market is projected to grow at a CAGR of 6.3% over the forecast period of 2018-2024.

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Neoprene Market: Industry Insights

Neoprene is known as the pc-rubber or polychloroprene is the family of synthetic rubbers obtained by polymerization of chloroprene. Neoprene is chemically stable and also maintain flexibility for high temperature. Neoprene is generally in forms such as foam or latex. Foamed neoprene is commonly used for preparing fly fishing wetsuits and waders. Neoprene is used in home accessories for mouse pads, laptop sleeves, remote controls, and many other things.

Neoprene Market: Drivers and Restraints

Increasing industrial and residential infrastructure led to the demand for the wire and cable is the driving factor in the global neoprene market. Neoprene rubber is used in the wire and cables as an insulator. An emerging development in the construction industries for developing the smart city and smart home owing to the growth factor for the neoprene market. Availability of substitute product such as natural and synthetic rubbers may hamper the growth of the global neoprene market.

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Neoprene Market: Segmentation

Global Neoprene Market is segmented on the basis of type and end-users. By product type, the market is segmented into Normal Linear Grades, Pre-cross-linked Grades, Sulfur-modified Grades, and Slow Crystallizing Grades. Sulfur-modified Grades holds a significant share in the global Neoprene Market in 2018. Based on end-user, the global Neoprene Market has bifurcated into Latex, Elastomers, Coatings, Building & Construction, Automotive, and Electrical. Automotive segment is expected to contribute the highest share to the Neoprene Market. Surging usage of neoprene in the molded parts such as dampers or axel boots and also as oil and fuel is the major factor for the growth of the automotive segment in the global neoprene market.

Neoprene Market: Regional Insights

Asia-Pacific is the most dynamic, highly competitive and the largest market for neoprene globally. The major driving factor, which has driven the growth of the Neoprene Market in this region, is the rising numbers of automotive industries and the increasing number of producers in the Asia-Pacific region. Growth in the region is mainly backend by India, China, and Japan. European Neoprene Market had been the most dynamic region in 2018. Europe is expected to grow at a steady rate within the forecast period. North America region remains bright, and the industry is projected to grow at the highest CAGR during 2018-2024. ROW also shows a steady rise in the global neoprene market.

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Neoprene Market: Competitive Analysis

The global Neoprene Market is highly competitive. The prominent players in the global Neoprene Market are DuPont, Bayer AG, EniChem, Denki Kagaku Kogyo, TOSOH Corporation, Showa DDE, Changshou, Haitong, and Hecheng. Product innovation and acquisitions & mergers are the key parameters to remain competitive and to gain greater market share.

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