Dublin, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The "Neoprene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global neoprene market size reached 422.3 Kilotons in 2022. Looking forward, the market is projected to reach 504.3 Kilotons by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.
Asia Pacific stands at the forefront, commanding the lion's share of the global neoprene market.
Neoprene's Superior Qualities Make It a Top Choice
Neoprene, a synthetic rubber, boasts a range of advantages that set it apart from natural rubber latex and other synthetic compounds. Notably, it offers robust protection against oxidizing agents like alcohols, oils, and acids, demonstrating impressive resistance to all acetonic solvents. Moreover, neoprene excels in durability, withstanding cuts and resisting damage from abrasion, flexing, and twisting.
Furthermore, neoprene exhibits remarkable chemical stability and maintains its flexibility across a wide temperature spectrum. In comparison to natural rubber, neoprene proves more resistant to gas permeation and can endure higher temperatures, reaching up to 200 degrees Fahrenheit (F).
Even under such elevated temperatures, neoprene remains structurally sound, making it exceptionally well-suited for extended use in high-temperature applications, unlike natural rubber. Its versatile polymer structure allows for modification, tailoring neoprene to a diverse array of chemical and physical attributes, based on specific product requirements.
Driving Global Demand: Neoprene in the Automotive and Construction Sectors
The global demand for neoprene has been on a continuous upswing, driven by its exceptional physical and chemical properties. The automotive sector stands as one of the primary end users of neoprene, employing it in the production of tires, oil seals, power transmission belts, braking and steering system components, hose covers, and more.
Beyond the automotive industry, the growth in the construction sector is also fueling the demand for neoprene. In construction, neoprene plays a vital role in providing electrical insulation, seals for windows, doors, and facades, elevator astragals, deviator pads, highway and bridge seals, and much more.
A Competitive Arena with Key Players
The competitive landscape of the neoprene market has been meticulously examined, featuring prominent players like Denka Corporation, Lanxess, Showa Denko, Tosoh, Zenith Rubber, GK GmbH Endlosband, Pidilite Industries Ltd., Covestro AG, and Asahi Kasei Corporation. These companies contribute to the thriving neoprene market with their innovative solutions and quality products.
Key Questions Answered in This Report:
- How has the global neoprene market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global neoprene industry?
- What has been the impact of COVID-19 on the global neoprene market?
- What is the breakup of the global neoprene market on the basis of manufacturing route?
- What is the breakup of the global neoprene market on the basis of grade?
- What is the breakup of the global neoprene market on the basis of application?
- What is the breakup of the global neoprene market on the basis of end-user?
- What are the various stages in the value chain of the global neoprene market?
- What are the key driving factors and challenges in the global neoprene market?
- What is the structure of the global neoprene market and who are the key players?
- What is the degree of competition in the global neoprene market?
- How is neoprene manufactured?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 422.3 Kilo Tons |
| Forecasted Market Value by 2028 | 504.3 Kilo Tons |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Global |
Competitive Landscape
- Denka Corporation
- Lanxess
- Showa Denko
- Tosoh
- Zenith Rubber
- GK GmbH Endlosband
- Pidilite Industries Ltd.
- Covestro AG
- Asahi Kasei Corporation
Key Market Segmentation:
Breakup by Manufacturing Route:
The butadiene route currently accounts for a higher share.
- Butadiene Route
- Acetylene Route
Breakup by Grade:
- General-Purpose Grade Neoprene
- Pre-Crosslinked Grade Neoprene
- Sulfur-Modified Grade Neoprene
- Slow Crystallizing Grade Neoprene
Breakup by Application:
Technical rubber currently represents the biggest segment.
- Technical Rubber
- Adhesives Industry
- Latex Industry
Breakup by End-User:
The automotive segment currently represents the biggest end user.
- Automotive
- Manufacturing
- Consumer Goods
- Medical
For more information about this report visit https://www.researchandmarkets.com/r/2jytsn
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