Chloroprene Rubber market Size, Share, Growth, Trend, Demand, Forecast 2027 | Tosoh Corporation, Denka Company Ltd, ARLANXEO, EDO Chemicals Neoprene GmbH

A comprehensive overview of the global Chloroprene Rubber market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Chloroprene Rubber market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Chloroprene Rubber market at regional and country levels. The global chloroprene rubber market is expected to showcase a growth of over 4% during the forecast period (2021-2027).

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Market Overview
The demand of chloroprene is increasing owing to growing production of end-use product, which is increasing due to growing population, rising per capita income, and increasing urbanization. For instance, according to Yes Bank Securities report, the Indian cables and wires market has achieved a remarkable ~23% volume CAGR to touch 14.5mn kms over FY14-18. This feat was largely the outcome of a strong demand for cables, boosted by the government’s ‘power to all’ mission and commensurate infra spends. The cables and wires market are expected to double over FY18-23E amid a likely strong power distribution capex, as also the growth in the wires segment led by a plethora of affordable housing projects. However, COVID-19 is expected to somewhat reduce the growth for one to two years. After that, industry would witness robust growth. Addition to this, chloroprene rubber has a combination of several technically essential properties, such as good mechanical properties, heat resistance, ozone and weather resistance, flame resistance and adequate electrical properties, which are not obtained with many other synthetic rubbers due to which manufacturers prefer to use chloroprene in a wide range of industries.

Global Chloroprene Rubber market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By grade, the market is primarily divided into:
• Industrial
• Adhesive
• Latex
Based on grade, industrial category held the prominent share in the market and is expected to retain its position during the foreseeable future. This can be attributed to its usage in different application areas and whose demand is expected to increase as the global economy is recovering from COVID-19. With growth in industrial production, demand for conveyor belt would increase as they make an important part of a facility. In addition, rising trend in e-commerce is expected to boost the demand for conveyor belts. Further, improving automobile production is increasing the demand of chloroprene rubber since rubber parts manufactured using chloroprene is used in a wide range of automobile components.

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By application, the market is primarily divided into:
• Wire and Cable
• Automotive Rubber Parts
• Belts and Hoses
• Rubber Linings, Sponges, and Wet Suits
• General Purposes
• Adhesives

Based on application, automobile rubber parts held the significant share in the global chloroprene market and is expected to retain its position during the forecast period owing to wide usage of chloroprene rubber in vehicle, recovering automobile industry, increasing adoption of electric vehicle, and growing vehicle demand in developing economies. For instance, in July 2021, Maruti Suzuki India announced a USD 2.42 billion investment in a new manufacturing facility in Haryana, India with an installed capacity of 7.5-10 lakh units per annum. Air suspensions, constant velocity joint boots, rack and pinion boots, power steering hoses, brake hoses, belts for various drives, packing, joints, dust-proof caps, anti-vibration materials are used in the requirements of automobiles.

Global Chloroprene Rubber Market Geographical Segmentation Includes:
• North America (United States, Canada, Rest of North America)
• Europe (Germany, UK, France, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
• Rest of World

Asia-Pacific region held the significant share in the global chloroprene rubber market. The regional economies are among the largest producer of manufactured goods where synthetic rubber like chloroprene as a raw material plays a pivoted role. The region is the largest producer of automobile across the globe with countries like China, Japan, South Korea, and India are among the top 10 automobile producers, globally. In addition, according to KEI Industries 2021 investor presentation, the global cable market is projected to expand at a CAGR of 4.1% during forecast period to reach USD 235.9 billion by 2026, whereas cable market size in India, is expected grow by 15% CAGR from USD 7.04 billion (INR 525 billion) in FY 2017-18 to USD 13.85 billion (INR 1,033 billion). This showcases high growth in chloroprene rubber end use industries in the regional economy. Further, the region is the largest footwear producer and consumer, with a global production share of around 88% in 2020. Therefore, due to its large production base of manufactured goods related to chloroprene rubber, region held the considerable market share.

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• Tosoh Corporation
• Denka Company Ltd
• ARLANXEO
• SEDO Chemicals Neoprene GmbH
• Shanghai TuHuang International Trading Co. Ltd.
• Chongqing ChangFeng Chemical Co. Ltd.
• Chongqing Changshou Chemical Co. Ltd.
• Showa Denko K. K.

Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Chloroprene Rubber market. The major players have been analyzed by using research methodologies for getting insight views on market competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the global Chloroprene Rubber market?
• Which factors are influencing the global Chloroprene Rubber market over the forecast period?
• What are the global challenges, threats, and risks in the global Chloroprene Rubber market?
• Which factors are propelling and restraining the global Chloroprene Rubber market?
• What are the demanding global regions of the global Chloroprene Rubber market?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by the companies?
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