Chloroprene Rubber Market Analysis and Global Forecast 2023-2033
Price range: $ 1,390.00 through $ 5,520.00
Chloroprene Rubber Market Research Report: Information By Grade (Linear, Crystallizing Resistance, Sulfur Modified, Others), By Application (Automotive, Electrical and Electronics, Construction, Textile, Others), and by Region — Forecast till 2033
Page: 165
Chloroprene Rubber Market Overview
The Chloroprene Rubber Market size accounted for USD 1.04 Billion in 2023 and is estimated to account for 1.36 Billion in 2024. The Market is expected to reach USD 10.52 Billion by 2034 growing at a compound annual growth rate (CAGR) of 6.25% from 2024 to 2034. Chloroprene rubber, commonly known as neoprene, is a synthetic rubber renowned for its exceptional resistance to heat, ozone, and various chemicals, making it suitable for diverse applications across multiple industries. chloroprene rubber is utilized in the production of adhesives, sealants, and molded foam products, benefiting from its flexibility and weather-resistant properties.
The chloroprene rubber market is poised for substantial growth, driven by its widespread applications and the expanding end-use industries. Continuous advancements in manufacturing processes and a focus on sustainable practices are expected to further enhance the market’s trajectory.
Global Chloroprene Rubber Market Synopsis
Chloroprene Rubber Market Dynamics
The major factors that have impacted the growth of Chloroprene Rubber Market are as follows:
Drivers:
Ø Rising Demand from the Automotive Industry
Chloroprene rubber is extensively used in hoses, belts, gaskets, and seals due to its high resistance to heat, oil, and chemicals. The increasing production of electric vehicles (EVs) further boosts demand for chloroprene rubber in automotive components. Chloroprene rubber is used in cable insulation, connectors, and protective coatings due to its excellent electrical insulation properties and the rise of smart electronics and power transmission projects increases demand and the miniaturization trend in electronics requires durable materials, driving chloroprene rubber applications.
Restraint:
- Fluctuating Raw Material Prices
Chloroprene rubber is derived from petroleum-based feedstocks, making it vulnerable to oil price volatility. The rising cost of crude oil and natural gas impacts production expenses, affecting market stability. The textile and consumer goods sectors are shifting toward silicone and thermoplastic elastomers (TPEs) and the decline in traditional rubber-based adhesive use is impacting chloroprene rubber consumption.
Opportunity:
⮚ Increasing Use in Sustainable and Bio-based Rubber Solutions
Rising environmental concerns have led to research in eco-friendly chloroprene rubber production. Manufacturers are developing low-carbon and recyclable variants to comply with sustainability goals. The construction sector is adopting chloroprene rubber-based adhesives, sealants, and coatings. Government investments in bridges, highways, and commercial buildings present opportunities for durable rubber solutions and chloroprene rubber is used in medical gloves, protective equipment, and tubing due to its hypoallergenic properties. Post-pandemic healthcare investments and the expansion of the medical device industry are creating new opportunities.
Chloroprene Rubber Market Segment Overview
By Garde
Based on Garde, the market is segmented based on Linear, Crystallizing Resistance, Sulfur Modified, Others. The Linear segment dominant the market. This segment holds a substantial revenue share in the chloroprene rubber market and their widespread applicability across various industries drives their demand.
By Application
Based on Application, the market segment has been divided into the Automotive, Electrical and Electronics, Construction, Textile, Others. The automotive segment dominates the market. Chloroprene rubber is known for its toughness and excellent abrasion resistance, making it suitable for high wear- and tear applications. The presence of chlorine in the molecular structure of this elastomer causes elastomer to resist swelling by hydrocarbon oils and provides superior resistance to chemicals, fuels, and flame. The properties above make them suitable for automotive applications that involve high wear of tires during rolling movement and in internal combustion engines for power generation.
Global Chloroprene Rubber Market Regional Analysis
Based on region, the global Chloroprene Rubber Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Chloroprene Rubber Market followed by the Asia-Pacific and Europe regions.
North America Chloroprene Rubber Market
North America holds a dominant position in the Chloroprene Rubber Market. It has high demand for chloroprene rubber in automotive gaskets, seals, and belts, expanding electric vehicle (EV) industry in the U.S. and Canada and growth in defense and aerospace applications (Boeing, Lockheed Martin). Canada Increasing adoption of chloroprene-based adhesives in construction and oil & gas sectors and United States leading in automotive, aerospace, and defense applications.
Asia-Pacific Chloroprene Rubber Market
The Asia-Pacific region has indeed emerged as the fastest-growing market for the Chloroprene Rubber Market industry. Countries like China and India are leading contributors, driven by rapid industrialization and growth in automotive and electronics manufacturing. Increased infrastructure development and rising demand for high-performance materials in automotive and industrial applications and has Strong manufacturing sectors and a burgeoning automotive industry contribute significantly to demand.
Competitive Landscape
The global Chloroprene Rubber Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.
Prominent Players:
- DuPont Performance Elastomers
- Showa Denko K.K.
- Denka Group
- Shanxi Synthetic Rubber Group Co. Ltd.
- Chongqing Longevity Salt and Chemical Co. Ltd.
- Lanxess AG
- Tosoh Corporation
- Nairit Plant CJSC
- Zenith Industrial Rubber Products Pvt. Ltd.
- Asahi Kasei Chemicals Corporation.
Scope of the Report
Global Chloroprene Rubber Market, by Grade
- Linear
- Crystallizing Resistance
- Sulfur Modified
- Others
Global Chloroprene Rubber Market, by Application
- Automotive
- Electrical and Electronics
- Construction
- Textile
- Others
Global Chloroprene Rubber Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of SouthAmerica
- Middle East &Africa
- Saudi Arabia
- UAE
- Egypt
- SouthAfrica
- Rest of Middle East & Africa
| Parameters | Indicators |
|---|---|
| Market Size | 2033: USD 10.52 Billion |
| CAGR (2023-2033) | 6.25% |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 (2017 to 2020 On Demand) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Grade, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, South America, Middle East, Africa |
| Key Vendors | DuPont Performance Elastomers, Showa Denko K.K., Denka Group, Shanxi Synthetic Rubber Group Co. Ltd., Chongqing Longevity Salt and Chemical Co. Ltd., Lanxess AG, Tosoh Corporation, Nairit Plant CJSC, Zenith Industrial Rubber Products Pvt. Ltd. and Asahi Kasei Chemicals Corporation. |
| Key Market Opportunities | · Increasing Use in Sustainable and Bio-based Rubber Solutions
· Growth in Infrastructure & Smart Cities Development |
| Key Market Drivers | · Rising Demand from the Automotive Industry
· Expansion of the Electrical & Electronics Industry |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Chloroprene Rubber Market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Chloroprene Rubber Market historical market size for the year 2021, and forecast from 2023 to 2033
- Chloroprene Rubber Market share analysis at each product level
- Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Chloroprene Rubber Market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Frequently Asked Questions (FAQ)
What is the growth rate of the global Chloroprene Rubber Market?
The global Chloroprene Rubber Market is growing at a CAGR of 6.25% over the next 10 years
Which region has the highest growth rate in the market of Chloroprene Rubber Market?
Asia Pacific is expected to register the highest CAGR during 2023-2033
Which region has the largest share of the global Chloroprene Rubber Market?
North America holds the largest share in 2022
Who are the key players in the global Chloroprene Rubber Market?
DuPont Performance Elastomers, Showa Denko K.K., Denka Group, Shanxi Synthetic Rubber Group Co. Ltd., Chongqing Longevity Salt and Chemical Co. Ltd., Lanxess AG, Tosoh Corporation, Nairit Plant CJSC, Zenith Industrial Rubber Products Pvt. Ltd. and Asahi Kasei Chemicals Corporation. are the major companies operating in the market.
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Table of Content
Chapter 1. Executive Summary
Chapter 2. Scope Of The Study
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Objectives of Report
2.2.2. Limitations
2.3. Market Structure
Chapter 3. Evolve BI Methodology
Chapter 4. Market Insights and Trends
4.1. Supply/ Value Chain Analysis
4.1.1. Raw End Users Providers
4.1.2. Manufacturing Process
4.1.3. Distributors/Retailers
4.1.4. End-Use Industry
4.2. Porter’s Five Forces Analysis
4.2.1. Threat Of New Entrants
4.2.2. Bargaining Power Of Buyers
4.2.3. Bargaining Power Of Suppliers
4.2.4. Threat Of Substitutes
4.2.5. Industry Rivalry
4.3. Impact Of COVID-19 on the Chloroprene Rubber Market
4.3.1. Impact on Market Size
4.3.2. End-Use Industry Trend, Preferences, and Budget Impact
4.3.3. Regulatory Framework/Government Policies
4.3.4. Key Players' Strategy to Tackle Negative Impact
4.3.5. Opportunity Window
4.4. Technology Overview
12.28. Macro factor
4.6. Micro Factor
4.7. Demand Supply Gap Analysis of the Chloroprene Rubber Market
4.8. Import Analysis of the Chloroprene Rubber Market
4.9. Export Analysis of the Chloroprene Rubber Market
Chapter 5. Market Dynamics
5.1. Introduction
5.2. DROC Analysis
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.2.4. Challenges
5.3. Patent Analysis
5.4. Industry Roadmap
5.5. Parent/Peer Market Analysis
Chapter 6. Global Chloroprene Rubber Market, By Grade
6.1. Introduction
6.2. Linear
6.3. Crystallizing Resistance
6.4. Sulfur Modified
6.5. Others
Chapter 7. Global Chloroprene Rubber Market, By Application
7.1. Introduction
7.2 Automotive
7.3. Electrical and Electronics
7.4. Construction
7.5. Textile
7.6. Others
Chapter 8. Global Chloroprene Rubber Market, By Region
8.1. Introduction
8.2. North America
8.2.1. Introduction
8.2.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.2.3. Market Size and Forecast, By Country, 2024-2034
8.2.4. Market Size and Forecast, By Product Type, 2024-2034
8.2.5. Market Size and Forecast, By End User, 2024-2034
8.2.6. US
8.2.6.1. Introduction
8.2.6.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.2.6.3. Market Size and Forecast, By Product Type, 2024-2034
8.2.6.4. Market Size and Forecast, By End User, 2024-2034
8.2.7. Canada
8.2.7.1. Introduction
8.2.7.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.2.7.4. Market Size and Forecast, By Product Type, 2024-2034
8.2.7.5. Market Size and Forecast, By End User, 2024-2034
8.3. Europe
8.3.1. Introduction
8.3.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.3.3. Market Size and Forecast, By Country, 2024-2034
8.3.4. Market Size and Forecast, By Product Type, 2024-2034
8.3.5. Market Size and Forecast, By End User, 2024-2034
8.3.6. Germany
8.3.6.1. Introduction
8.3.6.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.3.6.3. Market Size and Forecast, By Product Type, 2024-2034
8.3.6.4. Market Size and Forecast, By End User, 2024-2034
8.3.7. France
8.3.7.1. Introduction
8.3.7.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.3.7.3. Market Size and Forecast, By Product Type, 2024-2034
8.3.7.4. Market Size and Forecast, By End User, 2024-2034
8.3.8. UK
8.3.8.1. Introduction
8.3.8.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.3.8.3. Market Size and Forecast, By Product Type, 2024-2034
8.3.8.4. Market Size and Forecast, By End User, 2024-2034
8.3.9. Italy
8.3.9.1. Introduction
8.3.9.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.3.9.3. Market Size and Forecast, By Product Type, 2024-2034
8.3.9.4. Market Size and Forecast, By End User, 2024-2034
8.3.11. Rest Of Europe
8.3.11.1. Introduction
8.3.11.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.3.11.3. Market Size and Forecast, By Product Type, 2024-2034
8.3.11.4. Market Size and Forecast, By End User, 2024-2034
8.4. Asia-Pacific
8.4.1. Introduction
8.4.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.4.3. Market Size and Forecast, By Country, 2024-2034
8.4.4. Market Size and Forecast, By Product Type, 2024-2034
8.12.28. Market Size and Forecast, By End User, 2024-2034
8.4.6. China
8.4.6.1. Introduction
8.4.6.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.4.6.3. Market Size and Forecast, By Product Type, 2024-2034
8.4.6.4. Market Size and Forecast, By End User, 2024-2034
8.4.7. India
8.4.7.1. Introduction
8.4.7.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.4.7.3. Market Size and Forecast, By Product Type, 2024-2034
8.4.7.4. Market Size and Forecast, By End User, 2024-2034
8.4.8. Japan
8.4.8.1. Introduction
8.4.8.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.4.8.3. Market Size and Forecast, By Product Type, 2024-2034
8.4.8.4. Market Size and Forecast, By End User, 2024-2034
8.4.9. South Korea
8.4.9.1. Introduction
8.4.9.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.4.9.3. Market Size and Forecast, By Product Type, 2024-2034
8.4.9.4. Market Size and Forecast, By End User, 2024-2034
8.4.10. Rest Of Asia-Pacific
8.4.10.1. Introduction
8.4.10.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.4.10.3. Market Size and Forecast, By Product Type, 2024-2034
8.4.10.4. Market Size and Forecast, By End User, 2024-2034
8.5. Rest Of The World (RoW)
8.5.1. Introduction
8.5.2. Driving Factors, Opportunity Analyzed, and Key Trends
8.5.3. Market Size and Forecast, By Product Type, 2024-2034
8.5.4. Market Size and Forecast, By End User, 2024-2034
Chapter 9. Company Landscape
9.1. Introduction
9.2. Vendor Share Analysis
9.3. Key Development Analysis
9.4. Competitor Dashboard
Chapter 10. Company Profiles
10.1. DuPont Performance Elastomers
10.1.1. Business Overview
10.1.2. Government & Defense Analysis
10.1.2.1. Government & Defense – Existing/Funding
10.1.3. Product Portfolio
10.1.4. Recent Development and Strategies Adopted
10.1.5. SWOT Analysis
10.2. Showa Denko K.K.
10.2.1. Business Overview
10.2.2. Government & Defense Analysis
10.2.2.1. Government & Defense – Existing/Funding
10.2.3. Product Portfolio
10.2.4. Recent Development and Strategies Adopted
10.2.5. SWOT Analysis
10.3. Denka Group
10.3.1. Business Overview
10.3.2. Government & Defense Analysis
10.3.2.1. Government & Defense – Existing/Funding
10.3.3. Product Portfolio
10.3.4. Recent Development and Strategies Adopted
10.3.5. SWOT Analysis
10.4. Shanxi Synthetic Rubber Group Co. Ltd.
10.4.1. Business Overview
10.4.2. Government & Defense Analysis
10.4.2.1. Government & Defense – Existing/Funding
10.4.3. Product Portfolio
10.4.4. Recent Development and Strategies Adopted
10.12.28. SWOT Analysis
10.5. Chongqing Longevity Salt and Chemical Co. Ltd.
10.5.1. Business Overview
10.5.2. Government & Defense Analysis
10.5.2.1. Government & Defense – Existing/Funding
10.5.3. Product Portfolio
10.5.4. Recent Development and Strategies Adopted
10.5.5. SWOT Analysis
10.6. Lanxess AG
10.6.1. Business Overview
10.6.2. Government & Defense Analysis
10.6.2.1. Government & Defense – Existing/Funding
10.6.3. Product Portfolio
10.6.4. Recent Development and Strategies Adopted
10.6.5. SWOT Analysis
10.7. Tosoh Corporation
10.7.1. Business Overview
10.7.2. Government & Defense Analysis
10.7.2.1. Government & Defense – Existing/Funding
10.7.3. Product Portfolio
10.7.4. Recent Development and Strategies Adopted
10.7.5. SWOT Analysis
10.8 Nairit Plant CJSC
10.8.1. Business Overview
10.8.2. Government & Defense Analysis
10.8.2.1. Government & Defense – Existing/Funding
10.8.3. Product Portfolio
10.8.4. Recent Development and Strategies Adopted
10.8.5. SWOT Analysis
10.9 Zenith Industrial Rubber Products Pvt. Ltd.
10.9.1. Business Overview
10.9.2. Government & Defense Analysis
10.9.2.1. Government & Defense – Existing/Funding
10.9.3. Product Portfolio
10.9.4. Recent Development and Strategies Adopted
10.9.5. SWOT Analysis
10.10. Asahi Kasei Chemicals Corporation.
10.10.1. Business Overview
10.10.2. Government & Defense Analysis
10.9.2.1. Government & Defense – Existing/Funding
10.10.3. Product Portfolio
10.10.4. Recent Development and Strategies Adopted
10.10.5. SWOT Analysis
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