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Historical Year
Forecast Year
The global neoprene market size reached a volume of 456.47 kilotons in 2023. The neoprene market is further expected to grow at a CAGR of 4.5% between 2024 and 2032 to reach a volume of almost 678.48 kilotons by 2032.
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The global neoprene market is driven by the booming construction industry across the globe. The Asia Pacific region is the leading regional neoprene market globally. The industry is aided by the increasing demand for wires and cables from power supply companies, which has accelerated the sales of neoprene. Further, burgeoning sales of luxury cars due to inflating disposable incomes are developing a positive outlook for the neoprene market.
Neoprene is referred to as a synthetic rubber that is produced artificially by free radical polymerization of chloroprene. It was initially developed in the 1930s, as an oil-resistant alternative to natural latex rubber and had DuPont as the first to market the compound in the year 1931. Neoprene offers several advantages over natural rubber latex as well as other synthetic compounds. It also provides a strong level of protection from oxidizing agents like oils, alcohols, and acids, and offers resistance to all acetonic solvents.
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The neoprene market is bifurcated on the basis of manufacturing route into:
Among all of these, the butadiene route presently represents the most preferred manufacturing route for neoprene.
On the basis of grade, the industry is divided into:
Based on application, the industry is categorised into:
At present, neoprene is largely used in the production of technical rubber.
On the basis of end-uses, the neoprene market is segmented into:
Out of these, the automotive segment is the largest end-use segment of neoprene.
The report also covers the regional neoprene markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global neoprene market is driven by the continuously increasing demand for it due to its superior physical and chemical properties. The market is further aided by the expanding automotive sector, which is one of the largest end-users of neoprene. Within this industry, neoprene is extensively used in the manufacturing of oil seals, power transmission belts, tyres, hose covers, braking, and steering system components, among others. Besides the automotive industry, the increase in the construction sector is also providing an impetus to the growth of the neoprene market, where it is used to render electrical insulation, seals for doors, windows, and facades, deviator pads, elevator astragals, highway and bridge seals, among others.
The report gives a detailed analysis of the following key players in the global neoprene market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Manufacturing Route |
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| Breakup by Grade |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global neoprene market reached a volume of 456.47 kilotons in 2023.
The market is projected to grow at a CAGR of nearly 4.5% in the forecast period of 2024-2032.
The market is estimated to reach a volume of almost 678.48 kilotons by 2032.
The major drivers of the market include rising disposable incomes, increasing population, rising demand for neoprene owing to its superior physical and chemical properties, and the expanding automotive sector.
The rising demand for wires and cables from power supply companies is expected to be a key trend guiding the growth of the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The various manufacturing routes of neoprene considered in the market report include butadiene route and acetylene route.
General-purpose grade neoprene, pre-crosslinked grade neoprene, sulphur-modified grade neoprene, and slow crystallising grade neoprene are the major grades considered in the market report.
The significant applications of neoprene are technical rubber, adhesives industry, and latex industry.
The different end-uses of neoprene include automotive, manufacturing, consumer goods, and medical.
The leading players in the market are Denka Corporation Limited, Zenith Rubber, and BGK GmbH ENDLOSBAND, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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