The report Chloroprene Rubber Market by Grade (Linear, Cross-linked, Sulfur Modified, and Crystallizing Resistant and Others), by Application (Automobile, Construction, Furniture, Chemical Industries, Textiles, and Others) and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ XXX Mn by 2027, at a CAGR of XX% during a forecast period.
Chloroprene is also name for the organic compound 2-chlorobuta-1, 3-diene. This colorless fluid is the monomer used for the production of the polymer polychloroprene, a type of synthetic rubber. Polychloroprene is well known as Neopren. Chloroprene is polymerized by emulsion polymerization reaction using potassium persulphate as free radical initiator. The main factor of the polymer usually is trans-1,4-units. In the vulcanizing of Chloroprene rubber, zinc oxide and magnesium oxide blend is typically used. R&D to replace smoked rubber suppression with vulcanization in chloroprene manufacturing is the major opportunity for the market during the forecast period.
Automotive sector are rapidly increasing during the forecast period.
Automotive dominated the global market by acquiring almost 30% share of the global market at a dynamic CAGR of in 2017. Rubber is most commonly used material across various industries, it has many distinct features that make it very purposive, particularly in car manufacturing industry. Due to their flexible and durable properties, rubbers unique render in many application. Automotive industries in Europe holds the largest share during the forecast period.
The Chloroprene Rubber Market in Europe region is expected to hold the largest share during the forecast period.
Geographically, Europe is a leading market for the Chloroprene Rubber on accounts of its high demand in automotive industry. The high demand for chloroprene rubber is expected to surge in several countries of the Europe such as Germany, France, Italy and U.K due to high adoption rate by the automobile manufacturers.
As of 2017, the U.S accounted for the largest market share and followed by Canada in terms of value & volume and is projected to grow with the moderate CAGR. Additionally, penetration of light weight transportation trucks and vehicles is expected to boost the existing growing chloroprene based tire market in this region. South American countries such as Argentina, Colombia, and Brazil are also foreseen to witness significant growth due to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in chloroprene rubber. Asia Pacific chloroprene rubber market is expected to grow with the moderate CAGR owing to increasing road and bridges construction to boost the trading in India and China which accelerates the use of chloroprene based bearing pads in the forecast timeframe.
Key players operating in the global Chloroprene Rubber market are Denka Group, Asahi Kasei Chemicals Corporation, DuPont Performance Elastomers, Dow Chemical Company, Showa Denko K.K., Lanxess AG, Chongqing Longevity Salt and Chemical Co. Ltd., Tosoh Corporation, Nairit Plant CJSC, Zenith Industrial Rubber Products Pvt. Ltd., and Shanxi Synthetic Rubber Group Co. Ltd. Key players and manufactures are focusing on entering the new market by producing and launching technically advance and cost-effective products in the market. Production capacity expansion, brand portfolio expansion, mergers, collaborations, joint ventures and acquisitions of innovative businesses is the key trend to foot hold and penetrate market.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about global chloroprene rubber market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking in product strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global chloroprene rubber market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global chloroprene rubber market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Chloroprene Rubber Market”
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