Neoprene Fabric Market: Overview

Neoprene is a type of synthetic rubber, which is majorly used to produce various types of utility clothing such as sportswear and activewear. Neoprene fabric offers several advantages such as enhanced grip, bi-stretchable characteristics, and wicking functions; therefore these are preferred by athletes to enhance their performance.

Increasing awareness regarding health and shifting focus toward fitness and sport activities among people are expected to boost the demand for neoprene fabric. Neoprene-based outfits are quick-drying, thermal resistant, and static resistant. These properties propel the demand for neoprene fabric. Moreover, rising consumer interest in sports- & fitness-related activities fueled the sports and fitness apparel industry in last few year. This, in turn, has increased the demand for neoprene fabric.

Neoprene Fabric Market: Key Segments

The neoprene fabric market can be segmented based on type, end-user, and region. In terms of type, the market can be classified into circular knit and polychloroprene rubber. Based on end-user, the neoprene fabric market can be divided into outerwear, ready-to-wear, swim wear & wet suit, and footwear.

The outerwear segment is estimated to expand at significant pace during the forecast period owing to the increase in adoption of athleisure wear as casual clothing and rise in participation in sports. The swim wear & wet suit segment is anticipated to dominate the global neoprene fabric market during the forecast period due to growth in the costal tourism sector, which is expected to generate high demand for swim wears. Holistic approach of consumers, especially the youth, toward activewear is expected to drive the global neoprene fabric market. Surge in the demand for swim wear is anticipated to boost the neoprene fabric market.

Neoprene Fabric Market: Trends & Developments

Increasing disposable income and rising concerns regarding health and fitness are driving the neoprene fabric market. Furthermore, increase in involvement of female consumers in fitness activities is expected to boost the demand for sportswear and activewear. This, in turn, is estimated to increase the demand for neoprene fabric.

High cost involved in development and design of quality neoprene-based performance wear is anticipated to hinder the neoprene fabric market. Furthermore, presence of a large number of substitutes such as nylon, polyester, and spandex is expected to hamper the market during the forecast period. However, rising adoption of green textile and development and implementation of sustainable production processes boost the acceptance of neoprene fabric among consumers, who prefer to use to green textiles.

Neoprene Fabric Market: Regional Outlook

In terms of region, the global neoprene fabric market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The adoption of neoprene fabric as essential raw material for various clothing such as sports and fitness outfits has fueled its use across the world. Moreover, adoption of athleisure wear as a street wear, casual wear, and sportswear in regions such as North America and Europe is expected to boost the demand for neoprene fabric. Rise in health awareness and increase in disposable income among consumers in countries in Asia such as China and India is expected to drive the neoprene fabric market in Asia Pacific.

Neoprene Fabric Market: Key Players

Key players operating in the global neoprene fabric market include Colmant Coated Fabrics, Rivertex Technical Fabrics Group, Fabric House S.R.L., Lomo UK, Sheico Group, Techneopro Ltd., Rip Curl Group Pty Ltd., Xcel Hawaii, Inc. (Boardriders, Inc.), Johnson Outdoors Inc,  Brunotti Europe BV, Sky Industries Limited, Active Foam Products, Inc., Auburn Manufacturing, Inc., and Eastex Products, Inc. 

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
  • Europe
  • 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.

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Neoprene Fabric Market

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