Market Research Future published a Half Cooked Research Report on “Global Chloroprene Rubber Market Research Report – Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Chongqing Changshou Chemical Co., Ltd., Denka Company Limited, The Dow Chemical Company, MITSUI & CO., LTD., Tosoh Corporation, Shanxi Synthetic Rubber Group Co.Ltd, SHOWA DENKO K.K., The Goodyear Tire & Rubber Company, and Dunlop among others are some of the prominent players at the forefront of competition in the Global Chloroprene Rubber Market and are profiled in MRFR Analysis.
Chloroprene Rubber Market – Overview
Chloroprene Rubber exhibits superior properties such as excellent resistance to solvents and oils due to which they are predominantly utilized in various end use industries such as construction, furniture, automobile, chemical industries, textiles, and others. Chloroprene Rubber Market is estimated to witness strong due to increasing demand from automobile sector, rapid industrialization, and growing demand for modified adhesives with Chloroprene. Moreover, among the end use segment automobile accounted for the largest market share in 2016 and holds for around 30% market share on account of rising automotive production and sales across the globe. The construction segment is predicted to register strong growth due to rising public private investments. Moreover, increasing population along with the growing need of infrastructure development is expected to propel construction segment which is likely to fuel the growth of the market.
Geographically, Asia Pacific emerged as the largest market for Chloroprene Rubber followed by Europe and North America. The Asia Pacific Chloroprene Rubber Market is predicted to witness tremendous growth with a significant CAGR over the forecast year due to increasing demand from construction as well as chemical industries. Moreover, the demand for chloroprene rubber is expected to surge in various countries of Asia Pacific such as China, India, Thailand, Malaysia, Japan, and South Korea due to increasing construction activities coupled with high adoption rate from numerous end use industries. Furthermore, increasing investment by dominating market players in their innovation and research & development activities and shifting of chloroprene rubber production facilities as well as tremendous growing base of various end use industries in this region is expected to propel the Chloroprene Rubber Regional Market Growth. North American market is predicted to witness substantial growth on account of increasing demand for chloroprene rubber based protective lining which is further utilized in many chemical plants. North American market is further segmented into U.S. and Canada, among them U.S. is predicted to be the major contributor in the regional market growth due to robust growth of automobile and furniture sector. European market is expected to witness above average growth on account of rising awareness regarding the benefits associated with the product as well as growing utilization in textile and chemical industries. Moreover, emerging economies of Latin America and the Middle East & Africa are predicted to witness moderate growth owing to increasing disposable income coupled with strong consumer base for automobile and construction sector.
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Industry/ Innovation/ Related News:
January 2018- Arlanxeo, the Netherlands based organization has announced that the company expand the manufacturing capacity of chloroprene rubber at their site in Dormagen, Germany. The chloroprene rubber manufacturing capacity is expected to increase by 70,000 tonnes per year and the project is expected to complete by 2019. With this huge capacity expansion, the company will meet the growing demand for chloroprene rubber across the globe.
October 2015– LANXESS, a Germany based organization established an agreement to form a joint venture with China based Chongqing Changshou Chemical. This joint venture helped company to become the leading supplier of polychloroprene rubber in China. Under this agreement, the company utilized the sales channel of Chongqing Changshou Chemical and product quality provided by Lanxess. With this joint venture company will provide the quality products, outstanding services and long terms strategic partner for customers.
November 2015– Denka Company Limited, a joint venture between Denka Performance Elastomer, LLC and Mitsui & Co., Ltd announced to acquire DuPont’s chloroprene rubber business. This acquisition move help the company to create the most optimal production system based on the Denka100 management plan growth strategy.
The Chloroprene Rubber Market Report has analysed the level of competition among the key operating players as well as sector growth and market scenario. The Global Chloroprene Rubber Market includes numerous manufacturers operating in the market which comprised of large scale and medium scale producers. Some of the prominent market players operating in the Global Chloroprene Rubber Industry has shifted their focus towards growth association specifically by Asia Pacific as moderate level and small scale manufacturers are from this region specifically from China, Singapore, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Along with this, the key manufacturers are focusing on expanding their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Many operating players are escalating their manufacturing capacity of chloroprene rubber to meet the rising demand for chloroprene rubber. Apart from this, many key players has launched a series of product to solidify their position in the market.
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