Dallas, Texas, United States, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Global Chloroprene rubber Market Research Report by Grade (Linear, Crystallizing Resistance, Sulfur Modified, Others), by Application (Coatings & Adhesives, Wires & Cables, Hoses & Tubes, Building & Construction, Automotive, Medical Applications and Others, by Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19
Chloroprene rubber is characterized by its unique balance of characteristics among synthetic elastomers. It has high mechanical strength, low flammability, aging resistance, high ozone and weather resistance, excellent chemical resistance, mild oil and fuel resistance, and adhesion to a wide variety of substrates. The rising automotive industry is majorly driving the expansion of the worldwide chloroprene rubber market. Over the forecast period, the rising use of chloroprene rubber pads in reinforced concrete structures in the construction sector is expected to drive market expansion. The utilization of optical fiber cables in the telecommunications industry is expected to drive the market.
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The key players profiled in Chloroprene rubber market analysis include Denka Group, Asahi Kasei Chemicals Corporation, DuPont Performance Elastomers, Dow Chemical Company, Showa Denko K.K., Lanxess AG, Chongqing Longevity Salt and Chemical Co. Ltd., Tosoh Corporation, Nairit Plant CJSC, Zenith Industrial Rubber Products Pvt. Ltd. and Shanxi Synthetic Rubber Group Co. Ltd. among others
Market Segmentation Analysis
Based on the Grade, the market is segmented into Linear, Crystallizing Resistance, Sulfur Modified, Others. Linear segment has largest market share during the forecast period.
Based on the Application, the market is segmented into Coatings & Adhesives, Wires & Cables, Hoses & Tubes, Building & Construction, Automotive, Medical Applications and Others Coatings & Adhesives segment has largest market share during the forecast period.
COVID-19 Impact on the Chloroprene rubber Market
The worldwide COVID-19 pandemic has stopped manufacturing activities, reducing demand for chloroprene rubber as well as its manufacture and processing. The chloroprene rubber industry's most badly harmed end-use sectors are automotive and transportation. It has had a significant impact on the market's supply chain management.
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Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. Asia-Pacific is expected to have the largest revenue share. China and India are the Asia Pacific region's major economies in the manufacturing sector, which is predicted to drive product demand in the automotive, construction, electrical & electronics, textile, and other industries. In the electrical and electronics industries, chloroprene is utilized as an insulating substance.
Coatings & Adhesives
Wires & Cables
Hoses & Tubes
Building & Construction
Middle East & Africa
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