Outlook on the Chloroprene Rubber Global Market to 2027 - Growing Need for Fuel-efficient Vehicles will Drive the Industry Forward

DUBLIN, Dec. 30, 2021 /PRNewswire/ -- The "Global Chloroprene Rubber Market Size, Trends & Growth Opportunity, by Grade, by Application, by Region and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global Chloroprene rubber market was valued at USD 0.98517 billion in 2020 which expected to reach USD 1.39 billion by 2027 at a CAGR 4.6% from 2020-2027.

Chloroprene is a colorless fluid that is used as a monomer to create the polymer polychloroprene. Polychloroprene is a type of artificial rubber. High flexibility, solvent resistance, heat resistance, sweat, adhesion to various surfaces, and weather aging are the major qualities of this synthetic rubber. Chloroprene rubber is utilized in a variety of industries, including the rubber and adhesive industries. Chloroprene rubber is used to make dipped goods like gloves, to increase bitumen quality, and to make molded foam.

Market Drivers

Chloroprene rubber is increasingly used in automotive and other end-use industries.

The growing global need for fuel-efficient vehicles will drive the Chloroprene Rubber market forward. The electronic sector is expanding its demand for chloroprene rubber because to its various attributes such as light weight, dielectric capabilities, high temperature resistance, and high impact qualities. Rapid urbanization and the economic expansion in Asia-rising Pacific's countries are predicted to increase demand for chloroprene rubbers for use in construction composites. Chloroprene rubber is in high demand in end-use sectors such as the rubber and adhesive industries.

Market Restraints

The rapid adoption of alternative rubber products such as natural rubber, styrene butadiene rubber, and isoprene are important restrictions on the worldwide chloroprene rubber industry. Rising demand for chloroprene-based bearing pads in bridge construction due to increased inter-trade and transportation is expected to be a major driver for the chloroprene rubber market during the forecast period.

COVID-19 Impact on the Chloroprene rubber Market

The global COVID-19 pandemic has caused a stop to manufacturing activity all over the world, affecting demand for chloroprene rubber as well as its manufacture and processing. Automotive and transportation are two of the most severely hit end-use areas of the chloroprene rubber business. According to the Society of India Automobile Manufacturers (SIAM), passenger car sales in India fell 51 percent in March 2020 to 143,014 units. In addition, commercial vehicle sales decreased 88 percent to 13,027 units, while two-wheeler sales fell 40 percent to 866,849 units. The COVID pandemic has caused damage on the automotive sector. Automobile sales in the United States are supposed to decrease by 27% in 2020

Market Segmentation

The Global Chloroprene rubber Market is segmented into Grade, Application. By Grade such as Linear, Crystallizing Resistance, Sulfur Modified, Others. Further, market is segmented into By Application such as Coatings & Adhesives, Wires & Cables, Hoses & Tubes, Building & Construction, Automotive, Medical Applications and Others.

The market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific dominated the chloroprene rubber market. This is due to china's growing demand in a variety of vehicle and industrial component applications. North America and Europe are expected to develop significantly after Asia Pacific due to rising population and rapid industrialization throughout the forecast period. The introduction of new technology for substituting smoked rubber suppression with vulcanization in the chloroprene manufacturing process has also resulted in the increase of the market in North America and Europe.

Key Players

Various key players are listed in this report such as 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. among others.

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Chloroprene rubber Market?
• What will be the growth rate from 2020 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Global Chloroprene rubber Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis

5 Global Chloroprene rubber Market, By Grade
5.1 Y-o-Y Growth Comparison, By Grade
5.2 Global Chloroprene rubber Market Share Analysis, By Grade
5.3 Global Chloroprene rubber Market Size and Forecast, By Grade
5.3.1 On-street
5.3.2. Off-Street

6 Global Chloroprene rubber Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Chloroprene rubber Market Share Analysis, By Application
6.3 Global Chloroprene rubber Market Size and Forecast, By Application
6.3. 1 Coatings & Adhesives
6.3.2. Wires & Cables
6.3.3. Hoses & Tubes
6.3.4. Building & Construction
6.3.5 Automotive
6.3.6 Medical Applications
6.3.7 Others

7 Global Chloroprene rubber Market, By Region
7.1 Global Chloroprene rubber Market Share Analysis, By Region
7.2 Global Chloroprene rubber Market Share Analysis, By Region
7.3 Global Chloroprene rubber Market Size and Forecast, By Region

8 North America Chloroprene rubber Market Analysis and Forecast (2021-2027)

9 Europe Chloroprene rubber Market Analysis and Forecast (2021-2027)

10 Asia Pacific Chloroprene rubber Market Analysis and Forecast (2021-2027)

11 Latin America Chloroprene rubber Market Analysis and Forecast (2021-2027)

12 Middle East Chloroprene rubber Market Analysis and Forecast (2021-2027)

13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies

14. Company Profiles
14.1 Denka Group
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Asahi Kasei Chemicals Corporation
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. DuPont Performance Elastomers
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Dow Chemical Company
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Showa Denko K.K.
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Lanxess AG
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Chongqing Longevity Salt and Chemical Co. Ltd.
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Tosoh Corporation
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Nairit Plant CJSC
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Zenith Industrial Rubber Products Pvt. Ltd
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies

For more information about this report visit https://www.researchandmarkets.com/r/ur5mzr

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