Neoprene Foam Market: Overview
Neoprene foam is a durable and flexible sponge type rubber that offers excellent moisture and thermal insulation and provides form fitting that can resist oxidation, sunlight, ozone and various chemicals. Neoprene foam, due to its excellent properties, is a widely used synthetic elastomer. Neoprene foam finds application in the production of insulated can holders, gloves, elbow pads, expansion joint filers in concrete and masonry across various industries including consumer goods, chemicals, construction and other allied industries. Neoprene foam is available in a wide range of sizes, depending on the application. It is available in three forms, namely – solid sheet, open cell neoprene and closed cell neoprene. Each of them has specific application areas but possesses similar chemical and resistive properties. Due to its ability to trap energy, neoprene foam is one of the best insulation materials. It acts as an alternative to natural rubber, which exhibits better properties against chemical elements. Overall, the outlook for the growth of the global neoprene foam market is expected to be positive during the next decade.
Neoprene Foam Market: Dynamics
Neoprene foam is a versatile material used in various fields and sectors where rubber parts are required. The resistive properties of neoprene, coupled with its other strengths, have ensured its popularity among multiple industries. The use of neoprene foam is not bound to marine and industrial use only, but extends to different fields such as medical, fashion and others. In the fashion industry, neoprene foam act as an alternative to spandex, a widely used synthetic fiber due to its exceptional elasticity. These factors are expected to propel the demand for neoprene foam during the forecast period. Neoprene’s resistance to chemicals and oils is highly embraced by the food service industry. In kitchens, where grease, oil and water spills are commonplace, flooring protection products such as mats and others made of neoprene are highly adopted due to their ability to degrade the effect of greases and oils, which could otherwise damage the floor. This factor is expected to drive the growth of the global neoprene foam market during the next decade. Neoprene foam finds essential application in the automotive industry where resistance to a variety of petroleum-based diluents is needed. Also, in industrial applications, products made from neoprene foam reduce the rate of wear of individual machine parts, which saves time and money. Neoprene foam can withstand high-temperature conditions, which makes it the ideal choice for various industrial applications. These factors are expected to fuel the global neoprene foam market growth during the forecast period.
Neoprene Foam Market: Segmentation
Globally, the neoprene foam market has been segmented on the basis of product type, application, end use and region:
On the basis of product type, the global neoprene foam market has been segmented as:
- Solid sheet
- Open cell neoprene
- Closed cell neoprene
On the basis application, the global neoprene foam market has been segmented as:
- Insulation materials
- Orthopedic products
- Spare parts
On the basis of end use, the global neoprene foam market has been segmented as:
- Automotive industry
- Food service industry
- Chemical Industry
- Electrical & Electronics
- Consumer goods industry
On the basis of region, the global neoprene foam market is segmented as:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa
North America, led by the U.S., is expected to witness a high growth rate in the neoprene foam market, which can be attributed to the presence of developed industries in the region. APEJ is expected to dominate the global neoprene foam market, owing to the high adoption in a wide range of industrial and automotive segments in countries such as China, India and South Korea. APEJ is expected to be followed by Western Europe, where various food service and other industries are operating. Japan is a highly industrialized country and is thus expected to witness steady growth during the forecast period.
Neoprene Foam Market: Market Participants
A few of the leading players operating in the global neoprene foam market are:
- I. du Pont de Nemours and Company
- Denka Company Limited
- Shanxi-Nairit Synthetic Rubber Co. Ltd
- FOAMTECH Ltd.
- Rubberlite, Inc.
- Clark Foam Products
- Sedo Chemicals Neoprene GmbH
- Lauren Manufacturing
- Alanto Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- A detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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.