Chloroprene Rubber Market Scope
Chloroprene rubber (CR) is a synthetic rubber that is also known by the trade name Neoprene. CR has a good balance of properties, including good chemical stability and usefulness in an ever-wide temperature range. Chloroprene is used primarily for gaskets, Cable jackets, tubing, seals, O-rings, tire sidewalls, gasoline hoses, and weather-resistant products such as wet suits and orthopedic braces. It is also used as a base resin in adhesives, electrical insulations, and coatings. Increasing the expansion of infrastructure in emerging economies this factor is driving the market. The production of chloroprene rubber can have a negative impact on the environment this factor may restrain the market
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|Key Companies Profiled||Tosoh USA, Inc. (United States), Denka Company Limited. (Japan), Polymer-Technik Elbe Gmbh (Germany), ARLANXEO (Netherlands), MacLellan Rubber Ltd (United Kingdom), Trelleborg Group (Sweden), SEDO Chemicals Neoprene GmbH (Germany), QingDao Nova Rubber (China), LANXESS (Germany) and Dow Chemical Company (United States)|
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior-quality products to cater to the ever-growing demand for Chloroprene rubber. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Chloroprene Rubber market throughout the predicted period.
Tosoh USA, Inc. (United States), Denka Company Limited. (Japan), Polymer-Technik Elbe Gmbh (Germany), ARLANXEO (Netherlands), MacLellan Rubber Ltd (United Kingdom), Trelleborg Group (Sweden), SEDO Chemicals Neoprene GmbH (Germany), QingDao Nova Rubber (China), LANXESS (Germany) and Dow Chemical Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Chongqing Longevity Salt and Chemical Co. Ltd. (China), Nairit Plant CJSC (Armenia), ZENITH RUBBER (India) and Shanxi Synthetic Rubber Group Co. Ltd. (China).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Chloroprene Rubber market by Type , by Application (Coatings & Adhesives, Wires & Cables, Hoses & Tubes, Building & Construction, Automotive, Medical Applications and Others) and Region with country level break-up.
On the basis of geography, the market of Chloroprene Rubber has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn October 2022, Trelleborg Group acquired the US-based company, Minnesota Rubber & Plastics is a strong and well-established company in North America operating in several fast-growing industries such as medical equipment, water management, and food & beverage, as well as in several industrial applications
In October 2022, LANXESS launch its extensive product range designed to improve sustainability in the polyurethane industry. Innovative Adiprene green prepolymers with high bio-based content, novel hot cast and cure system for processing with reduced energy consumption
Influencing Trend:Rising demand for chloroprene rubber in building and construction
Market Growth Drivers:Increasing the expansion of infrastructure in emerging economies
Challenges:Increasing the production and use of chloroprene rubber is subject to strict government regulations
Restraints:The production of chloroprene rubber can have a negative impact on the environment
Opportunities:Increasing demand for Chloroprene Rubber in the automotive industry
Key Target AudienceChloroprene rubber Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries