Chloroprene Rubber Market, Covid-19 outbreak, Overview, Segmentation, Key Players, Dynamics, Grades and Forecast to 2025


Posted July 13, 2020 by pagrawal11

Chloroprene rubber is a synthetic rubber manufactured by chlorine-butene monomer polymerization. Chloroprene rubber is characterized by its balance of properties, low flammability, aging resistance, high ozone and weather resistance.

 
Market Overview

Global Chloroprene Rubber Market was valued at USD 1,222.6 Million in 2018 and is expected to register a CAGR of 3.80% to reach USD 1,576.3 Million by the end of 2025.
Chloroprene rubber is a synthetic rubber manufactured by chlorine-butene monomer polymerization. Chloroprene rubber is characterized by its balance of properties, which makes it unique among synthetic elastomers. It exhibits high mechanical strength, low flammability, aging resistance, high ozone and weather resistance, excellent resistance toward chemicals, moderate oil and fuel resistance, and adhesion to many substrates. Chloroprene rubber is produced in a variety of grades in both dry and latex forms.


Market Dynamics

The growth of the global chloroprene rubber market is primarily driven by the expanding automotive industry in developing economies of Asia-Pacific and the Middle East & Africa. The major applications of chloroprene rubber in the automotive and general industries are in the manufacturing of hoses, conveyors and transmission belts, and molded parts. Besides, the increasing demand for chloroprene rubber adhesives in the footwear industry coupled with the healthy growth of the footwear industry across the globe is expected to be the other key factor fueling market growth.
The expanding building and construction industry in the developing countries with an increase in both residential and non-residential construction activities together with the growing popularity of chloroprene rubber in the manufacturing of gloves is expected to create lucrative opportunities for the players operating in the global chloroprene rubber market.
One of the prominent trends noticed among the players operating in the global chloroprene rubber market is capacity expansion. For instance, in August 2019, Tosoh Corporation proposed to increase the production capacity for chloroprene rubber (Skyprene) at its plant in Shunan City, Yamaguchi Prefecture, Japan.
However, the availability of substitutes to chloroprene rubber such as styrene-butadiene rubber (SBR), nitrile rubber (acrylonitrile butadiene copolymer), epichlorohydrin rubber (ECO), and natural rubber is likely to hamper the market growth during the review period.
Global Chloroprene Rubber Market Revenue, by Application, 2025 (USD Million)
Sources: MRFR Analysis
Segmentation
Based on grade, the global market has been segmented into linear, crystallizing resistance, sulfur modified, and others. The linear segment accounted for around 57.7% share of the global chloroprene rubber market in 2018 and is expected to register a CAGR of 3.56% during the review period. The crystallizing resistance segment accounted for the second-largest market share, valued at USD 247 million in 2018.
Based on application, the market has been segmented into coatings & adhesives, wires & cables, hoses & tubes, and others. Among these, the coatings & adhesives segment accounted for the largest share of the global chloroprene rubber market, valued at USD 399.8 million in 2018. The growing demand for coatings in the major end-use industries particularly automotive and construction is likely to drive the growth of the segment. The others were the second-largest segment in 2018 and are projected to register the highest CAGR of 4.14% during the forecast period 2019–2025.
Based on the end-use industry, the market has been segmented into automotive, construction, furniture, electronics, textile, and others. The automotive segment accounted for the largest market share in 2018 and is expected to register a CAGR of 4.05% to reach USD 644.3 million by the end of 2025. The electronics segment was second largest in 2018 owing to the increasing demand for rubber sheathed cables in numerous applications. The other segment is projected to register the highest CAGR during the review period.

Regional Analysis

The Asia-Pacific market accounted for the largest share of 51.6% of the global chloroprene rubber market in 2018. The market in China generated around 46% of the total revenue in the region which can be attributed to the growth of the major end-use industries, particularly automotive and electrical & electronics. The market in Japan accounted for the second-largest share of the market. The Indian market was valued at USD 75.7 million in 2018 and is expected to register a CAGR of 4.85% during the review period.
The European market is projected to register a CAGR of 3.2% during the review period, 2019–2025. The growth is attributed to the established presence of automotive and electrical & electronics industries, mainly in Germany, France, and the UK.
The market in North America is expected to register a CAGR of 2.31% to reach USD 220.9 million by the end of 2025 on account of the growing construction industry in the US.
The markets in Latin America and the Middle East & Africa are projected to register CAGRs of 3.86% and 3.54%, respectively, on account of the growth of the major end-use industries such as automotive and construction.

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Key Players

Denka Company Limited (Japan), Tosoh Corporation (Japan), ARLANXEO (The Netherlands), SHOWA DENKO K.K (Japan), Shanxi Synthetic Rubber Group Co.Ltd (China), and Chongqing Changshou Chemical Co., Ltd (China), Trelleborg AB (Sweden), Polymer-Technik Elbe Gmbh (Germany), Maclellan Rubber Ltd (Germany), and Zenith Rubber (India).
The global chloroprene rubber market is highly consolidated in nature with the top 6 players accounting for about 95–97% share of the global market in 2018. The key players in the market are primarily investing in increasing production capacities by setting up new production plants or investing in the debottlenecking of the existing plants to meet the growing demand.

Market Segmentation

Global Chloroprene Rubber Market, by Grade
• Linear
• Crystallizing Resistance
• Sulfur Modified
• Others
Global Chloroprene Rubber Market, by Application
• Coatings & Adhesives
• Wires & Cables
• Hoses & Tubes
• Others
Global Chloroprene Rubber Market, by End-Use Industry
• Automotive
• Construction
• Furniture
• Electronics
• Textile
• Others
Global Chloroprene Rubber Market, by Region
• North America
o US
o Canada
• Europe
o Germany
o UK
o Russia
o France
o Spain
o Italy
o Poland
o Belgium
o The Netherlands
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o South Korea
o Australia & New Zealand
o Indonesia
o Thailand
o Rest of Asia-Pacific
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o Turkey
o Israel
o UAE
o South Africa
o Rest of Middle East & Africa
Available Additional Customizations
• Pricing Analysis
• Product Mapping
• Trade Indicators
• Regulatory Framework
• Global Rubber Market Outlook
Intended Audience
• Chloroprene Rubber Manufacturers
• Retailers, Distributors, and Wholesalers
• Governments, Associations, and Industrial Bodies
• Investors and Trade Experts

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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Issued By Pallavi Agrawal
Country India
Categories Miscellaneous
Tags Chloroprene Rubber Market
Last Updated July 13, 2020