Global Chloroprene Rubber Market By Grade (Sulfur Modified, Crystallizing Resistance, Linear, and Other grades), By Application (Construction, Electrical & Electronics, and Other applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Chloroprene Rubber Market Overview:

The global market for chloroprene rubber was worth USD 1,035.41 million in 2021. This market is expected to expand at a CAGR of 5.1% between 2023-2032.

This market’s growth is directly proportional to the growth in the automotive and construction industries. The market is expected to grow due to the increased use of chloroprene rubber pads in reinforced concrete structures in construction.

Cable jackets are expected to be driven by optical fiber cables used in the telecommunications industry. Because of its numerous characteristics such as low weight, dielectric capabilities, high-temperature resistance, and high impact qualities, the electronic and electrical industry is seeing a growing demand for chloroprene.

Global Chloroprene Rubber Market Analysis

Grade Analysis

The market share of the linear segment in the chloroprene-rubber market was significant in 2021. Linear grades are usually produced using n-dodecyl Mercaptan as the chain agent and occasionally with other pathogen sulfides. When pathogen sulfides have been used, the elastomers become more manageable and can produce vulcanizers with better mechanical properties.

Sulfur-modified varieties are copolymers containing chloroprene as well as elemental sulfur. Sulfur modification is a way to improve the rubber’s breakdown during mastication, which results in a lower viscosity. Because of their outstanding mechanical properties, sulfur-modified grades are best for parts subject to dynamic stress such as conveyor belts and timing belts. The polymers are less stable and the vulcanizates are more susceptible to aging.

Application Analysis

In 2021, the automotive application segment accounted for over 37.29% of the overall revenue share. Chloroprene rubber is tough and resistant to chemicals, fuels, flame, and abrasion. This makes it suitable for manufacturing tire sidewalls, O rings, fan belts, and trims.

The rising demand for Electric Vehicles and increasing disposable income levels will fuel product demand over the forecast period.

Because of its excellent tensile strengths and resistance to chemicals, the product is popular in the healthcare industry. This is expected to increase demand for medical glove manufacturing. In the medical sector, there is expected to be a higher demand for medical gloves due to increasing awareness of contagious diseases and an increase in medical diagnostics.

Rapid urbanization has led to the rise of new fashion trends in the apparel sector. This will be a major driver of the textile market. The thermal insulation property of chloroprene Rubber is provided by evenly distributed gas bubbles. It is suitable for use in winter clothing due to its thermal insulation property. It also has good water resistance, making it ideal for wetsuits for diving, surfing, and swimming.

Key Market Segments

By Grade

• Sulfur Modified
• Crystallizing Resistance
• Linear
• Other grades

By Application

• Construction
• Electrical & Electronics
• Textile
• Automotive
• Other applications

Market Dynamics

The COVID-19 epidemic prompted a shift to remote work and higher voice traffic. The industry responded positively to this challenge by making several operational improvements to ensure that the user experience was positive. It expected product demand to rise due to the rapid development in various end-use sectors, including automotive, construction, electrical, electronics, and textile. The Asia Pacific region’s growing middle-class population and access to low-cost labor and other resources will contribute to its growth.

Chloroprene rubber has superior properties such as flexibility, chemical stability, and resistance to heat. This makes it an extremely popular material for modifying adhesives. They are used to make building panels in post-forming and high-pressure laminate industries. Here, wood, plastic sheets, and metal are laminated together to create a composite panel with a chloroprene-based adhesive formulation.

Regional Analysis

The Asia Pacific was the most dominant market in 2021. It accounted for over 53.7% of overall market revenue. It is predicted to grow at the fastest rate over the forecast period. China and India lead the Asia Pacific region’s manufacturing sector. This will drive demand for products in the automotive, electrical & electronic, and textile industries.

The electrical and electronics sectors use chloroprene as an insulation material. The Asia Pacific is expected to see a strong market driven by the expanding electronics sector in South Korea and Taiwan. Regional market growth will also be supported by India’s rapidly expanding medical sector.

It is highly durable and has excellent chemical resistance. PPE kits are expected to be in high demand due to rising hospitalizations from the COVID-19 virus outbreak. India is the second-largest producer of PPE worldwide. North America’s market will be driven by rapid digitalization in the region and Artificial Programming Interface growth in the region. This is expected to increase the demand for cable jackets in telecommunication applications.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

The competitive advantage of market leaders is based on their product innovation capabilities and the new technologies they use in product formulations. For the elastomer industry to thrive, established companies are taking different strategic initiatives.

Маrkеt Кеу Рlауеrѕ:

• Tosoh Corp.
• Pidilite
• Denka Company Ltd.
• DuPont
• QingDao Nova Rubber
• ARLANXEO
• COG
• Sedo Chemicals Neoprene GmbH
• Other Key Players

For the Chloroprene Rubber Market research study, the following years have been considered to estimate the market size: