Chloroprene is a colorless fluid which is utilized in the form of a monomer to produce polymer polychloroprene. Polychloroprene is a kind of synthetic rubber. The primary properties of this synthetic rubber are high flexibility, solvent resistance, heat resistance, perspiration, bond to various substrates, and weather aging. Chloroprene rubber is used in a wide range of applications such as the rubber and adhesive industries. Chloroprene rubber is employed to manufacture dipped articles such as gloves, to improve bitumen quality, and to manufacture molded foam.
The global chloroprene market has witnessed significant expansion due to increase in demand from the rubber industry, as raw material for adhesives and for various latex applications. Major demand for chloroprene rubber is witnessed from China, Japan, and the U.S. China, specifically, has a high consumption of chloroprene rubber and its utilization has increased due to the rise in number of manufacturing industries in the country. Developing countries in Latin America, Asia Pacific, and Eastern Europe witnessed robust demand for chloroprene. Economic growth, increasing automotive output, and emergence of manufacturing industries in these regions have led to the higher consumption of chloroprene rubber.
In terms of application, the chloroprene rubber market can be segmented into industrial maintenance, automotive, food industries, sealing and bearings. Chloroprene rubber is employed extensively in industrial applications as hoses and belts in automotives, as architectural rubber products, and also as general industrial materials. Earlier the application of chloroprene rubber was limited to electrical wires and adhesives; however, the market has changed dramatically and currently experiences considerable demand from automobile and industrial sectors.
In terms of geography, the global chloroprene rubber market can be segmented into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is estimated to be a significant and rapidly expanding market for chloroprene rubber due to consistent demand from China in diverse automobile and industrial component applications. The market in North America and Europe is anticipated to expand due to the increase in population and rapid industrialization. New technology development for replacing smoked rubber suppression with vulcanization in the chloroprene manufacturing process has also led to the expansion of the North America and Europe market.
Key players operating in the global chloroprene rubber market include 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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.