Global Chloroprene Rubber Market was valued at US$ XXX Mn in 2017 and is expected to reach US$ XXX Mn by 2026, at a CAGR of XX % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Chloroprene Rubber market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence.
The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in Chloroprene Rubber market. Chloroprene is a colorless fluid which is used as a monomer to produce polymer polychloroprene. Polychloroprene is a type of synthetic rubber. The main features of this synthetic rubber are, solvent resistance, heat resistance, perspiration, high elasticity, adhesion to different substrates and weather aging. Chloroprene rubber has demand in end use industries such as rubber industry, and adhesive industry. Chloroprene rubber is as well used to manufacture dipped articles such as gloves, to improve bitumen quality and to manufacture molded foam.
Furthermore, the demand for chloroprene rubber is foreseen to witness major growth over the forecast period due to useless chloroprene rubber counterpart such as synthetic SBR, natural rubber and isoprene. Rising demand for chloroprene based bearing pads in building bridges due to increasing inter trade & transportation is projected to be a significant driver for chloroprene rubber market during the forecast period. Increasing automobile production and sales along with rising consumption of chloroprene based automotive components is expected to fuel the growth of the market. Furthermore, increasing demand for weather and cold resistant products such as wet suits in marine applications, is projected to drive the growth of the market during the forecast period, 2017 to 2026. Nevertheless chloroprene rubber can be reused and reproduced much easily in order to reduce the waste and scrap materials. Worldwide increasing demand from end-use industries such as automotive and building & construction is expected to be the major growth driver for chloroprene rubber. Based on Application, the automotive segment is anticipated to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period.
The key factors responsible for the growth include the fast growing construction industry coupled with the stable growth of the automotive industry. Also, the growing applications of chloroprene rubber in electric vehicles are enhancing the growth of the market in Europe and North America. Increasing automobile production and sales along with increasing consumption of chloroprene based automotive components in automotive industry leads to increase the growth of the market during the forecast period. Geographically, Europe is foreseen to grow with the highest CAGR during the forecast period, 2017 to 2026 due to the presence of major automobile manufacturers.
The demand for chloroprene rubber is expected to surge in many countries of the Europe such as Germany, France, Italy and U.K owing to high adoption rate by the automobile manufacturers. Moreover, increasing expenditure in innovation technology and growing purchasing power of customers is expected to drive the market in the forecast period. Moreover, increasing funding & investment by dominating market key players in their innovation and research & development activities and shifting of chloroprene rubber production unit as well as tremendous growing base of numerous end use industries in this region is anticipated to propel the chloroprene rubber regional market growth.
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The Scope of Global Chloroprene Rubber Market:
Global Chloroprene Rubber Market, by Grade:
• Linear • Cross-linked • Sulfur Modified • Crystallizing Resistant • Others
Global Chloroprene Rubber Market, by Application:
• Automobile • Construction • Furniture • Textiles • Others
Global Chloroprene Rubber Market, by Region:
• North America • Europe • Middle East & Africa • Asia Pacific • South America
Key Players Operating In Global Chloroprene Rubber Market:
• Denka Group • Asahi Kasei Chemicals Corporation • DuPont Performance Elastomers • Dow Chemical Company • Showa Denko K.K. • Lanxess AG • Chongqing Longevity Salt and Chemical Co. Ltd. • Tosoh Corporation • Nairit Plant CJSC • Zenith Industrial Rubber Products Pvt. Ltd. • Shanxi Synthetic Rubber Group Co. Ltd.
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