Press release
Neoprene Market To Cross 504.3 Kilotons By 2028
Neoprene Market
IMARC Group's latest report, titled "Neoprene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the global neoprene market size reached 422.3 Kilotons in 2022. Looking forward, IMARC Group expects the market to reach 504.3 Kilotons by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.
What are Neoprene and Uses ? :
Neoprene represents a synthetic rubber artificially produced by the free radical polymerization of chloroprene. In terms of grade, it can be categorized into several types, such as general-purpose, pre-crosslinked, sulfur-modified, slow crystallizing, etc. These neoprene variants offer various advantages as compared to natural rubber latex and other synthetic compounds, which include a strong level of protection from oxidizing agents, excellent chemical stability, and improved resistance to all acetonic solvents.
They even provide high resistance to physical failures or damage caused by abrasion, flexing, twisting, etc. Neoprene materials do not degrade in the presence of sun, ozone, or weather, ensure superior adhesion to fabrics and metals, and maintain flexibility over an extensive temperature range. Consequently, they find widespread utilization across numerous sectors, including automotive, medical, manufacturing, consumer goods, construction, etc.
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Who are the key Players Operating in the Industry ? :
• Denka Corporation
• Lanxess
• Showa Denko
• Tosoh
• Zenith Rubber
• GK GmbH Endlosband
• Pidilite Industries Ltd
• Covestro AG
• Asahi Kasei Corporation
What are the Growth Prospects and Trends in the Neoprene Industry ?
The inflating sales of automobiles across the globe and the elevating need for the product in the production of tires, braking and steering components, oil seals, power transmission belts, hose covers, etc., of vehicles are primarily driving the neoprene market. Additionally, the increasing requirement for the material in diverse waterproofing and structural sealing applications in the construction segment, such as electrical insulation, elevator astragals, seals for windows, doors, and facades, deviator pads, etc., is also positively influencing the market growth.
Apart from this, the rising usage of neoprene rubber to manufacture jacketing for heavy-duty cables and lead press-cured mining cables is acting as another significant growth-inducing factor. Moreover, the growing popularity of neoprene gloves, on account of their enhanced durability and protection against chemicals, germs, viruses, etc., is expected to propel the neoprene market in the coming years.
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Key Market Segmentation:
Breakup by Manufacturing Route:
• Butadiene Route
• Acetylene Route
Breakup by Grade:
• General-Purpose Grade Neoprene
• Pre-Crosslinked Grade Neoprene
• Sulfur-Modified Grade Neoprene
• Slow Crystallizing Grade Neoprene
Breakup by Application:
• Technical Rubber
• Adhesives Industry
• Latex Industry
Breakup by End-User:
• Automotive
• Manufacturing
• Consumer Goods
• Medical
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Contact us:
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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