Neoprene Fabric Market Expected to Reach $29,793 Million, Globally, by 2024

According to a new report published by Allied Market Research titled, Neoprene Fabric Market by Type and End use: Global Opportunity Analysis and Industry Forecast, 2017-2024," the global neoprene fabric market was valued at $20,644 million in 2017, and is expected to reach $29,793 million by 2024, registering a CAGR of 5.3 % from 2018 to 2024. North America dominated the global neoprene fabric market in 2017, accounting for more than 40% of the total revenue.

Neoprene fabric, a spongy synthetic rubber, is prepared by combining other types of fabric such as, nylon, polyesters, and sometimes spandex to enhance its flexibility. Polyester coated neoprene fabric offers vivid color resistance even when exposed to direct sunlight. Whereas, nylon coated neoprene offers higher fabric strength over polyester. The spongy layer of the fabric is prepared by infusing nitrogen jet into SBR rubber to make minute bubbles. This layer of bubbles aids in offering buoyancy to the fabric, which makes it perfect for water sports, such as jet skiing, windsurfing, and surfing.

Get Sample Copy of Report Here@ https://www.alliedmarketresearch.com/request-sample/4647

The extensive advantages such as water resistance, bi-stretchable function, anti-bacterial fabric, and others and surge in participation of consumers in physical and fitness activities act as key demand driving factors of the global market. Moreover, female consumer base for fitness wear is on an increase, owing to holistic approach of female customers toward sports and fitness. Similarly, increase in adoption of athleisure wear as work or street wear propels the growth of the overall market. Furthermore, rise in disposable income and increase in fitness concerns significantly contribute toward the growth of the market. However, volatile cost of raw materials and inflated cost of designing lead to high cost of the final product. This hampers the sales of the product among price-sensitive customers, thereby restraining the market growth. Moreover, presence of counterfeit brands results in safety issues and inconvenience for consumers, which hamper the growth of the market. Conversely, increase in use of green textile and implementation of the sustainable production methods fuel the adoption of neoprene fabric among green consumers. Furthermore, rise in promotional activities such physical activity campaigns, empowerment programs, and fitness wear promotion by sponsoring celebrities or athletes is expected to provide lucrative opportunities for the key players.

The outerwear segment is anticipated to witness high growth rate in the neoprene fabric market during the forecast period, owing to increase in the adoption of athleisure wear as casual clothing and rise in sports participation. However, the swim wear, wet suit, and rash guard segment is estimated to maintain its dominance in the global neoprene fabric market during the forecast period, owing to rise in costal tourism.

Request For Customization@ https://www.alliedmarketresearch.com/request-for-customization/4647

Key Findings of the Neoprene Fabric Market:

In terms of value, the ready-to-wear segment is expected to grow at a CAGR of 6.2% during the forecast period.

North America is expected to dominate the market, registering the highest CAGR of 5.1% in terms of value.

Asia-Pacific is projected to show exponential growth in demand throughout 2024, growing at a CAGR 6.9%, in terms of value.

By type, the polychloroprene rubber segment is anticipated to dominate market registering CAGR of 4.5%.

China accounted for more than one-third of the total Asia-Pacific neoprene fabric market in 2017.

In the global neoprene fabric market, India is expected to grow at a CAGR of 12.6%, in terms of value.

LIMITED-TIME OFFER - Buy Now & Get Exclusive 15 % Discount on this Report@ https://www.alliedmarketresearch.com/checkout-final/4760b6778e7fef89a90a71c35c27c842

Similar Reports:

Shoe Polish Market: https://www.alliedmarketresearch.com/shoe-polish-market-A06455

Travel Accessories Market: https://www.alliedmarketresearch.com/travel-accessories-market-A16837

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.