Neoprene Market: Overview

Neoprene is a type of synthetic rubber. It is produced by the polymerization of chloroprene. Neoprene is formed by cross linking carbon, hydrogen and chlorine polymers. It possess good chemical stability and remains flexible under a wide range of temperatures. Neoprene is wear, weather, aging, heat, tearing, oils, water, and chemical resistant. It has low oxidation rate and ozone resistance. This increases the shelf life of neoprene-based products.

Neoprene Market: Drivers & Restraints

The wires and cables industry drives the global neoprene market. Neoprene rubber parts are extensively used as covering solutions in wire and cable systems. It is utilized in lead press cured mining cables, cable jackets, and jacketing in heavy-duty cables. Increase in demand for neoprene from the automotive industry is driving the neoprene market. However, neoprene faces tough competition from other natural and synthetic rubber alternatives.

Neoprene Market: Key Segments

Based on application, the neoprene market is segmented into civil engineering, aquatics, home accessories, music equipment, hydroponic gardening, automotive, and others. The automotive segment holds a major share of the neoprene market. Neoprene is used in a wide range of products such as oil and fuel hoses and molded parts such as axle boots, bellows, membranes, dampers, windshield wipers, and spring elements. It is also employed as a lead baring base in between two plates of concrete and steel. Neoprene is used for making fishing waders and wetsuits, which provides insulation against cold in aquatics weather. Additionally, it is used in household products such as table holders, laptop sleeves, and mouse pads. Neoprene is utilized for manufacturing speaker cones and practice drum pads.

In terms of grade, the neoprene market can be segregated into normal linear, sulfur modified, pre cross-linked, and slow crystallizing. Pre cross-linked grades are suitable for extrusion of profile parts of automotive industries. Sulfur modified grades are co-polymers of chloroprene and elemental sulfur. These are used to manufacture parts, such as driving belts, timing belts, or conveyer belts, which are exposed to dynamic stress. Slow crystallizing grades are used to produce rubber products.

Neoprene Market: Regional Outlook

Based on region, the global neoprene market can be divided into North America, Asia Pacific, Europe, Latin America and Middle East & Africa. The neoprene market in Asia Pacific is expected to expand at a significant pace during the forecasted period due to high demand from the automotive industry. China. India, Japan are estimated to be major producers and consumers for neoprene in the region. Japan dominates the neoprene market in Asia Pacific. The neoprene market in North America is anticipated to expand at a considerable pace during the forecasted period owing to technological advancements in the region. The neoprene market in Europe is projected to expand due to the steady demand from the automotive industry. The neoprene market in Latin America and Middle East & Africa is estimated to expand at a sluggish pace during the forecasted period.

Neoprene Market: Key Players

Key players operating in the global neoprene market include DuPont Chemicals, Lanxess AG, EniChem, Bayer AG, Zenith Industrial Rubber Products Pvt. Ltd, Denki Kagaku Kogyo, TOSOH, SDK, Xiangyang, Asahi Kasei Chemicals Corporation, and Shanxi Synthetic Rubber Group Co., Ltd. 

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