Report Code: A12117 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
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Chloroprene is a colorless liquid that is used to make the polymer Polychloroprene as a monomer. Polychloroprene is a synthetic rubber that comes in a variety of colors. High elasticity, solvent resistance, heat resistance, sweat, adherence to various surfaces, and weather ageing are the major characteristics of this synthetic rubber. One of the first oil-resistant synthetic rubbers was chloroprene rubber (CR), often known as Neoprene. It is a good all-around rubber with a strong combination of physical and chemical qualities. Its resistance to petroleum-based oils and fuels, on the other hand, is only moderate. Chloroprene rubber has a wide range of industrial applications, including automotive hoses and belts, architectural rubber products, and basic industrial components. Previously, chloroprene rubber was only used in electrical lines and adhesives. However, the market has altered considerably, and vehicle components and industrial products are now in high demand.
COVID-19 Impact analysis
The global COVID-19 epidemic has halted manufacturing activity around the world, hurting demand for chloroprene rubber as well as its manufacture and processing. Automotive and transportation are the most severely damaged end-use areas of the chloroprene rubber business. It has largely affected the supply chain management of the market.
Top Impacting Factors
Chloroprene rubber is used in a variety of industries, including the rubber and adhesive industries. Chloroprene rubber is also used to make dipped goods like gloves, as well as to increase bitumen quality and mold foam. Rapid development in developing regions such as Asia-Pacific and the Middle East, are expected to drive the demand for chloroprene rubber use. Furthermore, the market's expansion would be aided by significant investments in R&D. The global need for fuel-efficient vehicles will drive expansion in the chloroprene rubber market. The electronic sector is growing its need for chloroprene rubber due to its various attributes, including lightweight, dielectric capabilities, high-temperature resistance, and high-impact qualities.
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Chloroprene Rubber Market Report Highlights
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