The global chloroprene rubber market size was valued at USD 985.17 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2021 to 2028. The growth of this market is directly proportional to the growth of the automotive and construction industries. The increased usage of chloroprene rubber pads in reinforced concrete structures in the construction sector is expected to boost the market growth over the forecast period. The use of optical fiber cables in the telecommunication industry is expected to drive the market in cable jackets.
Chloroprene rubber exhibits superior properties, such as flexibility and chemical stability, over a broad range of temperatures, contributing to its widespread usage in various applications, including as a raw material in modifying adhesives. In the post-forming and high-pressure laminate industry, they are used to construct building panels, where wood, plastic sheets, and metal are laminated to form a composite panel using a chloroprene adhesive formulation.
To identify the key drivers and the competitors’ insights, Request a Sample @:
https://www.grandviewresearch.com/industry-analysis/chloroprene-rubber-market/request/rs1
Key Player Mentioned:
- Tosoh Corp.
- Denka Company Ltd.
- ARLANXEO
- Sedo Chemicals Neoprene GmbH
- QingDao Nova Rubber
Application Segment Analysis:
- Automotive
- Electrical & Electronics
- Construction
- Textile
- Others
Moreover, the COVID-19 pandemic drove a shift to remote working and increased voice traffic and high residential broadband & mobile data usage. The telecom industry responded favorably to this challenge with several operational improvements to ensure the user experience stayed positive. The rapid development of various end-use industries, such as automotive, construction, electrical & electronics, and textile, in Asia Pacific, Europe, North America, and the Middle East is expected to propel the product demand.
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
Access Press Release: https://www.grandviewresearch.com/press-release/global-chloroprene-rubber-market
Leading market players compete based on their product development capabilities and new technologies used in product formulations. Established manufacturers are implementing different strategic initiatives to enter into the elastomer manufacturing business. For instance, in February 2020, Armenian Economic Minister Tigran Khachatryan announced the Armenian government’s interest in investment offers on the Nairit Chemical Plant and revive the chloroprene rubber production.
Why Purchase this Report?
- A strong research methodology was followed to collect data for the report. The data collected in this way are subjected to several quality checks to provide the best quality.
- The report provides a holistic view of the competitive scenario of the Chloroprene Rubber Market.
- The latest product launches, along with technological changes and developments, are included in the report.
- The data analysis in the report will help you understand the Chloroprene Rubber Market dynamics projected from 2021 to 2028.
- The Report has a vast data store, so it can accommodate your custom needs as well.
About Us:
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
