Neoprene Market - Segmented by Type, Application and Geography - Trends and Forecasts (2014-2020)
LONDON, Sept. 21, 2015 /PRNewswire/ -- Due to the increasing demand from end user industries such as Automotive, Electrical, Latex, Adhesives, Construction, the Global neoprene market is expected to reach 500 metric tons by the year 2020. Asia Pacific and Latin America leads the Global Neoprene market due to their large demand for automobile component market which accounts for 20% of the global consumption of Neoprene. Also Asia Pacific has the highest rate of growth in Neoprene market with a CAGR of more than 3.4% through 2020. The adhesive end user market accounts for the highest share of Neoprene market globally. In the recent years there has been a high demand of chloroprene since it has been replacing other elastomer technologies. However the Neoprene market also faces a great competition from other synthetic rubber and natural rubber alternatives.
Neoprene is a synthetic rubber which is artificially produced by free radical polymerization of Chloroprene. It consists of Carbon, Hydrogen and Chlorine polymers which are cross linked to give neoprene. It exhibits good chemical stability and maintains flexibility over a wide temperature range. Neoprene was accidently manufactured by the scientists of DuPont chemicals. It shows great chemical properties like Resistance to weathering, aging, heat, tearing, water, oils and other chemicals.
Neoprene is segmented based by type (Normal linear grades, precrosslinked grades, Sulfur modified grades, Slow crystallizing grades), by end user industries (Automotive, Electrical, Adhesives, Latex, Construction).It finds applications in many day to day products like Diving suits, Surgical gloves, Rubber aprons, Injection ports, Anesthesia masks, Oral and Nasal Airways, Endotracheal tubes, Surgical masks, Blood pressure cuffs, Syringes, Stethoscopes, Balloons, Rubber bands, Erasers.
Some of the key players in Neoprene market include DuPont Chemicals, Bayer AG, EniChem, Denki Kagaku Kogyo, TOSOH Corporation, Showa DDE, CHR, Changzhou Haitong, Hecheng, Dow Chemical Company, SDK, Xiangyang, Asahi Kasei Chemicals Corporation, Lanxess AG, Showa Denko K.K., Chongqing Longevity Chemical Co., Ltd, Nairit Plant CJSC, China Bluestar New Chemical Materials Co., Ltd., Zenith Industrial Rubber Products Pvt. Ltd, Shanxi Synthetic Rubber Group Co., Ltd.
There has been a significant consolidation via merger and acquisition of participants at all levels of the value chain. Denka Performance elastomer LLC, a joint venture between Denka Kagaku Kogyo K.K and Mitsui and Corporation limited has agreed to takeover DuPont Performance Polymers which manufactures neoprene using the butadiene method by signing a definitive agreement. DuPont supplies neoprene to North America, South America and Europe. The transaction is expected to close in first half of the year 2015 pending customary regulatory approvals. Ansell limited had purchased Barrier Safe Solution International for about $615 million by Odyssey Investment Partners L.L.C group in the late November of 2011.
DRIVERS:
Growth is largely fueled by increasing applications, technological advancements, and growing demand in the developing countries in Asia Pacific such as China, India due to the large setup of automotive industry which accounts for 20% of the global Neoprene consumption. Neoprene has been substituting other elastomer technologies due to its various chemical properties which are a key driver for the Neoprene market.
RESTRAINTS:
The constant push from regulatory authorities such as EPA (Environmental Protection Agency) and REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) will lessen the use of Neoprene in order to reduce the impact on the environment since Neoprene is non-recyclable and takes very long time for degradation. Apart from this the higher pricing of Neoprene than other elastomers and Economic cycles in any end-user industry affect the demand pattern for Neoprene. It may result in high demand for Neoprene in one industry and relatively weak demand in another industry, based on the phase of the economic cycle of that industry.
What the report offers?
1) Market Definition for the Neoprene market along with identification of key drivers and restraints for the market.
2) Market analysis for the Neoprene market with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the Neoprene market on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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