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Allied Market Research

Neoprene Market by Product (Neoprene Sponge/Foam, Neoprene Rubber Sheet, and Neoprene Latex), and End user (Automotive, Electrical & Electronics, Building & Construction, and Textiles): Global Opportunity Analysis and Industry Forecast, 2021–2030

A11907
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Sep 2021 | 75 Views
   
Author(s) : Eswara Prasad
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COVID-19

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Neoprene rubber is a tough substance that is used in a wide range of applications, including marine and outdoor. It can be used in place of or as a substitute for rubber. Polychloroprene is another name for neoprene rubber, which is made by polymerizing chloroprene. It is more resistant to rubber degradation than natural and synthetic rubber. The substance is chemically stable and can be employed in a variety of situations. Neoprene rubber comes in a variety of thicknesses ranging from 1mm to 50mm, with a Shore hardness of 60. This is a standard hardness rating for usage in commercial applications. Neoprene is commonly used in automotive products such as rubber gaskets, O-rings, seals, hoses, and other similar items, as well as in building products such as fire doors, electrical insulation, waterproofing membranes, and other similar items. Neoprene is more resistant to gas permeation than natural rubber and can withstand higher temperatures: up to 200 degrees Fahrenheit (F). Neoprene preserves its integrity even at such high temperatures, making it better suited to long-term use in high-temperature applications than natural rubber. The polymer structure of neoprene also allows it to be manipulated to create a material compound with a wide range of chemical and physical qualities, depending on the needs of the product.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available for Years

 2020–2030

 Base Year Considered

 2020

 Forecast Period

 2021–2030

 Forecast Unit

 Value (USD)

 Segments Covered

 Product, End User, and Region

 Regions Covered

 North America, Europe, Asia-Pacific, LAMEA

 Companies Covered

BASF SE, LANXESS, Tosoh, Asahi Kasei Corporation, Showa Denko. Canada Rubber Group, ACRO Industries, Macro, International Co., AJ Rubber & Sponge Ltd., Chongqing, Changshou Chemical, Martin's Rubber Company, China Bluestar New Chemical Materials

 

Covid-19 impact analysis

  • The market was negatively impacted by COVID-19 in 2020. The deteriorating vehicle sector, as well as a temporary halt in building and automotive activities due to the pandemic lockdown, have had a substantial impact on the neoprene market. However, demand for neoprene products such as medical gloves has expanded dramatically as a result of this situation, boosting the neoprene market demand.
  • Manufacturers have had a number of issues with neoprene production as a result of the COVID-19 disrupting the raw material supply chain. Due to weaker demand from tire makers in the global market, synthetic rubber demand in industries has decreased drastically.
  • The demand for neoprene has decreased in industries like automotive and construction due to fewer completed goods production, resulting in a decrease in the price of neoprene on the world market. Due to the pandemic condition generated by COVID-19, synthetic rubber export and import have decreased in many nations.

Top impacting factors

Automotive is one of the leading markets for neoprene rubber on a global level. Increased production of electric vehicles will result from initiatives to adopt green vehicles, raising demand for neoprene rubber in the automotive industry. The demand for neoprene rubber is predicted to rise as technology advances and neoprene rubber develops in international markets. The global neoprene rubber market is driven by firms' environmental capabilities and sustainable production. The worldwide neoprene rubber market is additionally fueled by advanced technical advancements, as well as a strong demand for neoprene rubber's functionality and safety. Manufacturers will also have a substantial potential to profitably participate in the neoprene rubber sector.

Market Trends

New product

  • Neoprene is a type of synthetic rubber that is typically made by polymerizing chloroprene. They are grease and ageing resistant. These are commonly seen in waterproof items like gloves and wet suits. They are able to maintain good flexibility over a wide temperature range and are usually chemically stable. They also adhere to metals and fabrics and do not deteriorate in the presence of sunlight, ozone, or other environmental factors. The gloves and suits were introduced to tackle current environment scenario.
  • The market for neoprene is fairly large, and it's commonly employed in building and construction. Neoprene has proven to be effective in a variety of structural sealing and waterproofing applications. Neoprene is commonly used in window gaskets, cable covers, and roof waterproofing membranes in architecture and construction, and it has great durability, waterproofing, and resilience capabilities.
  • Neoprene is commonly used to seal floors of multi-story structures, prevent roof leaks, and sheath bridge bearing pads and cables. Neoprene's great flexibility has made it a popular choice for structural engineering applications requiring unique parts with exceptional weather, water, chemical, and fire resistance.
  • Neoprene has a great resistance to dilute acids, bases, and salt solutions, as well as grease, wax, and oil. Another major benefit of neoprene is that it performs well in a wide variety of temperatures, from -20°C to 95°C, and can even be compounded for even higher temperatures. These benefits make neoprene one of the most appealing building and construction materials.
  • One of the largest users of neoprene is the electronics sector. Smartphones, OLED TVs, and tablets are among the consumer electronics devices that are growing the fastest in China. The domestic manufacture of electronic devices is expected to develop quickly in the foreseeable future, thanks to rising middle-class disposable income and the availability of cheap labor.

Key Segments covered

Product

  • Neoprene Sponge/Foam
  • Neoprene Rubber Sheet
  • Neoprene Latex

End User

  • Automotive
  • Electrical & Electronics
  • Building & Construction
  • Textiles

Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • UAE
    • Brazil
    • South Africa
    • Rest of LAMEA

Key Benefits of the Report

  • This study presents the analytical depiction of the neoprene industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the neoprene market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the neoprene market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed neoprene market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the neoprene Report

  • Who are the leading market players active in the neoprene market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
    • Upcoming Report specific
      • What is "neoprene"?
      • What does "neoprene" allow organizations to achieve?
      • What will be the anticipated growth rates for your own neoprene market economy altogether and also for every segment inside?
      • Which will be the niches at which players profiling with recent advancements should set a presence?
      • What are the driving factors and opportunities in the market?
 
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