Global Neoprene Market | Global Neoprene Industry: Ken Research
According to the report analysis, ‘Neoprene Market By Product (Neoprene Sponge / Foam, Neoprene Rubber Sheet, Neoprene Latex); By Manufacturing Route (Butadiene Route And Acetylene Route); By Grade (General-Purpose Grade Neoprene, Pre-Crosslinked Grade Neoprene, Sulfur-Modified Grade Neoprene And Slow Crystallizing Grade Neoprene); By End User (Automotive, Electrical And Electronics, Building And Construction, Consumer Goods, Medical And Others) and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030’ states that the market is projected to augment owing to several advantages offered by the neoprene comprising chemical and thermal resistance, quick-drying, high stretchability, and heightened comfort. Furthermore, the growing application of neoprene in the construction and automobile industry is propelling market growth. Also, mounting requirement for cables and wires by power supply companies is projected to proliferate in the market during the coming years.
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The Surge in automobile production owing to the inflating disposable income is projected to fuel the requirement for neoprene. Neoprene finds its application in the automotive industry to manufacture tires, CVJ boots, vibration mounts, hose covers, oil seals, steering and braking system, and power transmission belts. Furthermore, neoprene seat covers deliver the protection against dirt, scratches, and moisture. Since neoprene is resistant to temperature it can shield the leather seats from the harmful effects of sunlight.
Furthermore, with the growing urbanization and growing population, there is a speedy growth in the number of building and construction activities which is predicted to propel the growth of the market. Neoprene is employed in the construction industry for electrical wiring, fireproof insulation, and enlargement joints in civil engineering applications. Additionally, it is utilized in cable coverings, window gaskets, and roof waterproofing membranes due to superior durability, resilience, and waterproofing properties.
Based on the region, Global Neoprene Market is sectored based on regional analysis into five major regions. These comprise North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa. Global Neoprene Market in Asia Pacific controlled the largest market share during the year 2019. Asia Pacific will continue to register the global Neoprene market owing to the increasing construction activities and growing infrastructural investment, influencing the automotive sector. In addition, the existence of foremost neoprene manufactures in the region is anticipated to further strengthen the market. Therefore, in the near years, it is predicted that the market of neoprene will increase around the globe more effectively over the near years.
Ankur Gupta, Head Marketing & Communications
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies.
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