Pune, India -- (SBWire) -- 03/29/2019 --Our latest research report entitled Neoprene Market (by type (normal linear grades, pre-cross-linked grades, sulfur-modified grades and slow crystallizing grades), end user (latex, elastomers, coatings, building & construction, automotive and electrical)) Global Industry Analysis, Trends, Size, Share and Forecasts to 2024 provides complete and deep insights into the market dynamics and growth of Neoprene. Latest information on market risks, industry chain structure Neoprene cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Neoprene growth factors.
The forecast Neoprene Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Neoprene on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to the report, the global neoprene market is projected to grow at a CAGR of 6.3% over the forecast period of 2018-2024.
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Neoprene is a family of synthetic rubbers that are produced by polymerization of chloroprene. It is also called as polychloroprene or pc-rubber. Neoprene exhibits good chemical stability and maintains flexibility over a wide temperature range. Several benefits of neoprene include heat resistance, ozone resistance, electrical resistance, and anti-weathering properties, that makes neoprene a very useful component in the construction and roofing sectors. Additionally, it has several applications in the mass transit industry, automotive industry, and electrical industry.
Neoprene rubber parts are widely used for protective covering solutions in cable and wire systems, and modern electrical equipment due to its the better heat, chemical, flame, ozone, and weathering resistance than its natural rubber counterpart. Cable jackets, jacketing in lead press cured mining cables, and jacketing in heavy-duty cables are some of the applications that benefit from neoprene specifically. Especially, global cables & wires market is exhibiting strong growth, supported by demand from power supply companies, telecom operators, and other end-user industries such as building & construction and industrial segments. Hence, in medium and long-term neoprene market is expected to grow due to its heavy demand from electronic industry. The automotive industry is witnessing high demand from developing and emerging economies. The automotive industry uses a large chunk of neoprene-based rubber products. Owing to the significant growth rate of the automotive industry annually, neoprene is expected to have a wide implementation in the manufacture of hoses to withstand high pressure, oil and fuel hoses, and molded parts like bellows, axle boots, membranes, spring elements, dampeners, and windshield wipers. In addition, neoprene foam tape is commonly used in applications such as sealing and gasketing of electronics within automotive devices. These applications are expected to fuel the demand for neoprene in the automotive industry in the future for the long term.
Asia-Pacific region accounted for the largest market share of the global neoprene market due to widespread demand in construction, automotive and other industrial segments in countries like China, and India, and Japan. Neoprene based product finds wide-ranging of applications in the construction sector such as window seals, customized window gaskets, bridge bearing pads and highway & bridge seals which will boost the growth of neoprene market in this region in coming years. North America neoprene market size constitute a significant chunk of the overall business size in 2017. Strong automotive demand in the North America region will trigger the product demand, which would help to boost the neoprene market in this region. According to OICA, North America automotive sales recorded in 2012 was 2.3 million units which rose to 2.5 million units by the end of 2017. The trend is projected to continue in the forecast period which will drive overall product demand in the coming years.
Market Segmentation by Type and End User
The report on global neoprene market covers segments such as type and end user. On the basis of type, the global neoprene market is categorized into normal linear grades, pre-cross-linked grades, sulfur-modified grades, and slow crystallizing grades. On the basis of the end user, the global neoprene market is categorized into latex, elastomers, coatings, building & construction, automotive and electrical.
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Competitive Landscape
The report provides profiles of the companies in the global neoprene market such as Dupont, Bayer AG, EniChem, Denki Kagaku Kogyo, TOSOH Corporation, Showa DDE, Changshou, Haitong, and Hecheng.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Neoprene.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
