H1 2023: The leading Neoprene Rubber producers in H1 2023 were Denka Company Limited and Arlanxeo Performance Elastomers. Regionally, Asia Pacific consumed the highest percentage of Neoprene Rubber in H1 2023. The price of Neoprene Rubber fluctuated in the Asian market during H12023. Neoprene Rubber prices in Asia-Pacific surged in January and February, and then abruptly plummeted in March. As China started to cut its vehicle inventories, the ailing Asia-Pacific automotive market began to show signs of deterioration. Automakers started destocking in China in March 2023. The manufacturing of cars decreased as a result of the automotive industry's strong destocking efforts, which also had an effect on the demand for neoprene rubber. However, the prices increased steadily from April 2023 in the Asian nations. Neoprene rubber prices rose as a result of high demand by downstream automotive sectors in Asia. Neoprene Rubber's market price climbed as a result of the considerable increase in these industries' growth, which raised the demand for the material. In the US, fluctuating market behaviour was observed, aided by altering dynamics of supply and demand. Neoprene Rubber prices increased significantly in January as well as February , before beginning to decrease in March. The automotive industry was severely harmed by the economic turbulence brought on by the failure of two big US banks. Neoprene Rubber consumption by the automotive industry decreased as a result of the recession's harsh effects, which eventually led to a price drop in March. However, Neoprene Rubber prices experienced a sharp decline in April, recovered in May, and then rose in June. Due to an increase in sales in the automotive sector, the market sentiment for neoprene rubber improved in the period of May- June 2023.
The global Neoprene Rubber market has reached around 370 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.95% during the forecast period until 2032.
Neoprene rubber is a versatile synthetic rubber that is not only strong but also chemically and thermally resistant, waterproof, and durable. Neoprene is a synthetic rubber that works well in applications that call for a versatile material that is long-lasting, waterproof, thermally stable, and largely resistant to corrosive and chemical substances. Neoprene is renowned for having excellent physical qualities as well as chemical resistance. It offers strong resistance to weather, ozone, sunshine, oxidation, oils, fuel, greases, solvents, petroleum oils, and vegetable and animal oils. Neoprene is frequently used alone to mass-produce dependable wetsuits, cable jackets, tubing, Orings, seals, tyre sidewalls, petrol hoses and orthopaedic braces. Due to its many beneficial qualities and affordable price, it is also used as a basic resin in adhesives, electrical insulations, and coatings.
The major drivers of the global Neoprene Rubber market are Adhesives and Automotive industries. The increased demand for neoprene from the automotive industry for usage in the production of tyres, oil seals, shock absorber seals, braking and steering system components and power gearbox belts is anticipated to significantly contribute to the expansion of the neoprene market. In addition, factors fueling the growth of the neoprene market include high disposable income, the need for greater structural properties, the expansion of infrastructure, etc. Neoprene is used in a variety of fields, such as civil engineering, electrical wings, and fireproof insulation. Additionally, the rapid urbanisation is driving the creation of smart cities and other forms of urban infrastructure, which are providing excellent opportunities to neoprene rubber expansion. The Neoprene Rubber demand is expected to touch a figure of 540 thousand tonnes by the year 2032.
Geographically, The Asia Pacific is the biggest consumer of Neoprene Rubber across the globe. In 2022, this region consumed approximately 48% of the Neoprene Rubber in 2022. Additionally, it is anticipated that Neoprene Rubber's demand in this manner will continue to surge in the Asia Pacific region. In addition, it is projected that Asia Pacific will continue to see a boom in demand for neoprene rubber. Automobile and engineering industries are widely present in Asia-Pacific developing nations like China, India, Philippines, Malaysia, and Indonesia, and are expected to expand rapidly over the course of the projected period. As a result, the neoprene market in emerging economies like India due to urbanization is expected to grow at a significant rate over the course of the forecast period. Also, in North America and Europe, the automotive sector is likely to propel the Neoprene rubber demand positively in the upcoming years. As of 2023, Japan is the leading producer of Neoprene Rubber followed by China.
Based on the end-use, the global Neoprene Rubber market is segmented into Adhesives, Automotive industry, Cable sheaths, Latex, and Others. However, the Adhesives and Automotive are the biggest end-user markets of Neoprene Rubber. In 2022, these industries consumed roughly 50% of the global Neoprene Rubber market. Heavy-duty applications can benefit from the insulation provided by neoprene synthetic rubber for cables. They are resilient to oil, grease, and water. They are utilised for cable winding reels in industrial settings.
Major players companies in the Global Neoprene Rubber market are Tosoh Corporation Limited, Denka Company Limited, Arlanxeo Performance Elastomers, Shanna Synthetic Rubber Group Co., Ltd., Shanxi Synthetic Rubber Group Co., Ltd, Denka Performance Elastomer, LLC (DPE), and Shanxi Huojia Changhua Synthetic Rubber.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
The objective of the Study:
•To assess the demand-supply scenario of Neoprene Rubber, which covers the production, demand, and supply of Neoprene Rubber around the globe.
•To analyze and forecast the market size of Neoprene Rubber.
•To classify and forecast the Global Neoprene Rubber market based on end-use and regional distribution.
•To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., for the Neoprene Rubber market.
To extract data for the Global Neoprene Rubber market, primary research surveys were conducted with Neoprene Rubber manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst could include manufacturers that could not be identified because of the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Neoprene Rubber market over the coming years.
ChemAnalyst calculated Neoprene Rubber demand around the globe by analyzing the historical data and demand forecast, which was carried out considering the production of raw materials to produce Neoprene Rubber. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Neoprene Rubber manufacturers and other stakeholders
• Organizations, forums, and alliances related to Neoprene Rubber distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Neoprene Rubber manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Neoprene Rubber market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
370 thousand tonnes
Market size Volume by 2032
540 thousand tonnes
Growth Rate
CAGR of 3.95% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating efficiency, Production by Company, Foreign Trade, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Adhesives, Automotive industry, Cable sheaths, Latex, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com
Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Neoprene Rubber market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Neoprene Rubber.
3. Capacity By Location
To better understand the regional supply of Neoprene Rubber by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Neoprene Rubber by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Adhesives, Automotive industry, Cable sheaths, Latex, and Others) are creating a market and the forecast for the growth of the Neoprene Rubber market.
7. Demand by Region
Analyzing the change in demand of Neoprene Rubber in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Neoprene Rubber. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Neoprene Rubber.
10. Company Share
Figure out what proportion of the market share of Neoprene Rubber is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Neoprene Rubber.
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Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected global market size of Neoprene Rubber in terms of volume for 2032?
Ans:
The global market size of Neoprene Rubber is expected to reach approximately 540 thousand tonnes by 2032, with an expected CAGR of 3.95% till 2032.
Q2.
Which industry holds the largest share of the global Neoprene Rubber market?
Ans:
The Adhesives industry is the largest consumer of the Neoprene Rubber on a global scale.
Q3.
Which is the dominant region in the global neoprene rubber market?
Ans:
Asia Pacific is the dominant region in the global neoprene rubber market.
Q4.
Who are the key players in the global neoprene rubber market?
Ans:
Tosoh Corporation Limited, Denka Company Limited, Arlanxeo Performance Elastomers, Shanna Synthetic Rubber Group Co., Ltd., Shanxi Synthetic Rubber Group Co., Ltd., Denka Performance Elastomer, LLC, and Shanxi Huojia Changhua Synthetic Rubber Co. Ltd. are the key players in the global neoprene rubber market.
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