The global neoprene market size reached 435.0 Kilotons in 2023. Looking forward, the market is projected to reach 552.8 Kilotons by 2032, exhibiting a growth rate (CAGR) of 2.70% during 2023-2032.
Neoprene is a synthetic rubber produced artificially by free radical polymerization of chloroprene. It was first developed in the 1930s, as an oil-resistant substitute for natural latex rubber with DuPont being the first to market the compound in 1931. Neoprene offers various advantages over natural rubber latex and other synthetic compounds. Neoprene provides a strong level of protection from oxidizing agents such as alcohols, oils, and acids and offers resistant to all acetonic solvents. It also provides high resistance to physical failures like cuts and is resistant to damage caused by abrasion, flexing and twisting.
Neoprene also does not degrade in the presence of sun, ozone or weather and provides excellent adhesion to fabrics and metals. Moreover, Neoprene exhibits good chemical stability and maintains flexibility over a wide temperature range. Compared to natural rubber, neoprene is more gas permeation resistant and can tolerate higher temperatures: up to 200 degrees Fahrenheit (F). Even at such elevated temperatures, neoprene maintains its integrity, making it better suited to long-term use in high temperature applications compared to natural rubber. Neoprene’s polymer structure also allows it to be modified to create a material compound with a diverse range of chemical and physical properties, based on the product needs.
The global demand of neoprene has been increasing continuously over the last few years catalyzed by its superior physical and chemical properties. The automotive sector represents one of the biggest end users of neoprene. In the automotive industry neoprene is used in the manufacturing of tires, oil seals, power transmission belts, breaking and steering system components, hose covers, etc. Apart from the automotive industry, the growth in the construction sector is also catalyzing the demand of neoprene where it is used to provide electrical insulation; seals for windows, doors, and facades; elevator astragals; deviator pads; Highway and bridge seals, etc.
Neoprene is a synthetic rubber produced artificially by free radical polymerization of chloroprene. It was first developed in the 1930s, as an oil-resistant substitute for natural latex rubber with DuPont being the first to market the compound in 1931. Neoprene offers various advantages over natural rubber latex and other synthetic compounds. Neoprene provides a strong level of protection from oxidizing agents such as alcohols, oils, and acids and offers resistant to all acetonic solvents. It also provides high resistance to physical failures like cuts and is resistant to damage caused by abrasion, flexing and twisting.
Neoprene also does not degrade in the presence of sun, ozone or weather and provides excellent adhesion to fabrics and metals. Moreover, Neoprene exhibits good chemical stability and maintains flexibility over a wide temperature range. Compared to natural rubber, neoprene is more gas permeation resistant and can tolerate higher temperatures: up to 200 degrees Fahrenheit (F). Even at such elevated temperatures, neoprene maintains its integrity, making it better suited to long-term use in high temperature applications compared to natural rubber. Neoprene’s polymer structure also allows it to be modified to create a material compound with a diverse range of chemical and physical properties, based on the product needs.
The global demand of neoprene has been increasing continuously over the last few years catalyzed by its superior physical and chemical properties. The automotive sector represents one of the biggest end users of neoprene. In the automotive industry neoprene is used in the manufacturing of tires, oil seals, power transmission belts, breaking and steering system components, hose covers, etc. Apart from the automotive industry, the growth in the construction sector is also catalyzing the demand of neoprene where it is used to provide electrical insulation; seals for windows, doors, and facades; elevator astragals; deviator pads; Highway and bridge seals, etc.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global neoprene market report, along with forecasts at the global and regional level from 2024-2032. The report has categorized the market based on manufacturing route, grade, application and end-user.Breakup by Manufacturing Route:
- Butadiene Route
- Acetylene Route
Breakup by Grade:
- General-Purpose Grade Neoprene
- Pre-Crosslinked Grade Neoprene
- Sulfur-Modified Grade Neoprene
- Slow Crystallizing Grade Neoprene
Breakup by Application:
- Technical Rubber
- Adhesives Industry
- Latex Industry
Breakup by End-User:
- Automotive
- Manufacturing
- Consumer Goods
- Medical
Breakup by Region:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Competitive Landscape
The competitive landscape of the market has also been examined with some of the key players being Denka Corporation, Lanxess, Showa Denko, Tosoh, Zenith Rubber, GK GmbH Endlosband, Pidilite Industries Ltd., Covestro AG and Asahi Kasei Corporation.Key Questions Answered in This Report
- How has the global neoprene market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global neoprene industry?
- What has been the impact of COVID-19 on the global neoprene market?
- What is the breakup of the global neoprene market on the basis of manufacturing route?
- What is the breakup of the global neoprene market on the basis of grade?
- What is the breakup of the global neoprene market on the basis of application?
- What is the breakup of the global neoprene market on the basis of end-user?
- What are the various stages in the value chain of the global neoprene market?
- What are the key driving factors and challenges in the global neoprene market?
- What is the structure of the global neoprene market and who are the key players?
- What is the degree of competition in the global neoprene market?
- How is neoprene manufactured?
Table of Contents
1 Preface3 Executive Summary
2 Scope and Methodology
4 Introduction
5 Global Neoprene Market
6 Market Breakup by Manufacturing Route
7 Market Breakup by Grade
8 Market Breakup by Application
9 Market Breakup by End-User
10 Market Breakup by Region
11 Global Neoprene Industry: SWOT Analysis
12 Global Neoprene Industry: Value Chain Analysis
13 Global Neoprene Industry: Porters Five Forces Analysis
14 Global Neoprene Industry: Price Analysis
15 Neoprene Manufacturing Process
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Denka Corporation
- Lanxess
- Showa Denko
- Tosoh
- Zenith Rubber
- GK GmbH Endlosband
- Pidilite Industries Ltd.
- Covestro AG
- Asahi Kasei Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value in 2023 | 435 Kilo Tons |
| Forecasted Market Value by 2032 | 552.8 Kilo Tons |
| Compound Annual Growth Rate | 2.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
