Chloroprene Rubber Market Research Report - Global Forecast till 2027

Global Chloroprene Rubber Market: Information by Grade (Linear, Crystallizing Resistance, Sulfur Modified, Others), Application (Coatings & Adhesives, Wires & Cables, Hoses & Tubes, Others), End-Use Industry (Automotive, Construction, Furniture, Electronics, Textile, Others) and Region (Asia-Pacific, Europe, Latin America, North America and the Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/3502-CR | February, 2020 | Region : Global

Market Overview:
Chloroprene is a monomer that is a colorless fluid and is used to produce a polymer polychloroprene. Chloroprene Rubber is a synthetic or an artificial polymer that acts as Elastomer or can be called a synthetic rubber. The Elastomers have significantly greater elastic deformation. The primary properties of the Chloroprene Rubber are high flexibility, heat resistance, perspiration, solvent resistance, weather aging, and bonds with various substrates and chemicals. Chloroprene is used in various kinds of applications such as rubber and adhesive industries. The utilization of this product is playing a central role in the enhancement of the global economy and the major application sectors for the market growth are medical industries, consumer goods, automotive, and manufacturing.

The global chloroprene rubber market has grown at a value of $1222.6 million in 2018 witnessed a CAGR of 5.89% and 6.36% over the year 2014-2019 based on production and consumption. The market analysis projected a CAGR growth of 4% and it is estimated to reach $1.57 billion by the year 2025.

COVID-19 Analysis:
During the global covid-19 outbreak, the demand and supply chain market was almost shut down and the import-export market came to a halt. The detailed analysis shows the restricted growth in 2020. In 2020, there was an inclination of around 13-32% in the global trade volumes. This led to a forced recession in the manufacturing and production market. The value and the prices of the market have been dropped during the pandemic. The main restraints were that the consumer is not active in the market and the production has been hampered and that too made it a problem at a global level and impacted the distributors and manufacturers. Several small-scale industries have emerged during pandemic times and have given a boost to the demands as well and now it is developing more amongst the local regions as well.

Market Dynamics:
Drivers
The widespread usage of chloroprene rubber in the automotive and general industries is one of the driving factors for the growth of the market. Apart from this, in the application segment, the usage of Chloroprene has been increased as the Chloroprene Rubber adhesive is majorly in the footwear industry.

Restraints
Certainly, there are some alternatives for chloroprene rubber and the manufacturers have given effective substitutes such as natural rubber, styrene-butadiene, and isoprene. The increasing consumption of elastomers with lower cost and their various applications may hinder the growth of the market.

Challenges
With the increased awareness and changed mindsets, most of the industries are approaching eco-friendly and natural materials. Also, the chloroprene rubber can neither be recycled nor be re-processed which can be a threat to the growth of the market. Moreover, this market requires capital investments and has extended paybacks. So, emerging new players might be a substantial risk factor for the future.

Value Chain Analysis
One of the most favored synthetic rubbers is Chloroprene rubber. There are many potential substitutes for its application. One of the factors for the growth in the market is acceptance and other substitutes are expected to account for substantial demand. The APAC region is responsible for the maximum growth in the Chloroprene Rubber Market. The growing application of Chloroprene Rubber is majorly in the automotive industry, followed by
Coating, binders and adhesives, belts and hoses, and others. It is widely used in motor vehicle components and such usages have projected to be the fastest-growing segment as per the forecast period. The overall boost in the growth of the Chloroprene Rubber market is held by the regions of North America and Europe. Last year, North America generated a share of 24% in the market and is expected to grow at a CAGR of 1.73% during the forecast period.

Segment Overview:
The global chloroprene rubber market is segmented based on Grade, Application, Type, End-User, and Region. The major profit to the market is based on segmentation is divided into coating and adhesives, hoses and tubes, wires and cables, and others. As per the end-user, the market is broken into construction, automotive, furniture, electronics, textile and adhesives, and others. Based on region, APAC has provided the highest revenues to the global Chloroprene Rubber Market.

For Example:
By Grade
Linear
Sulfur Modified
Crystallizing Resistance

By Application
Coating and Adhesives
Wires and Cables
Hoses and Tubes

By Type
Polyester
Acrylic
Epoxy
Urethane
Formaldehyde-based resins

By Vertical
Automotive
Construction
Electronics
Footwear
Adhesion (Furniture)
Textiles

By Region
● APAC
Australia and New Zealand (ANZ)
Greater China
India
ASEAN
Rest of Asia Pacific

Europe
EU5
Nordics
Benelux

North America
US & Canada

The Middle East and Africa
Latin America
Brazil, Argentina & Others

Regional Analysis
The detailed overview of the report provided both qualitative and quantitative details of the global chloroprene rubber based on various segments. The market size and forecast estimates from the years 2018 to 2025 concerning five major regions are North America, Europe, Asia-Pacific, Middle East, and Africa and South America. Out of all, APAC is expected for the largest and the fastest growth in the chloroprene rubber market. This region is surging demands from china in both automobile and industrial component applications. Out of all the regions, North America and Europe are expected to witness significant growth in this sector. Afterward, the increase in the population and the developments in the urban areas will get rapid industrialization, this will increase the demand and supply chain in the APAC region and Europe. Many outcomes for the Chloroprene Rubber have shown very beneficial results, the extensive R&D has been conducted by potential key players, they replaced the smoked rubber suppression with vulcanization during the manufacturing process of chloroprene, and the properties after that are better in terms of elasticity and non-absorbing properties. This will lead to extensive growth for the participants of the region that will eventually generate revenues for the Chloroprene Rubber Market.

Competitive Landscape
The high consumption and demand for chloroprene rubber are majorly increasing in the areas of China, Japan, and the US. The rapid increase in consumption and demand has led to the emergence and rapid increase in industries in the location. Certain developing countries in the regions of APAC, Latin America, and Eastern Europe witnessed a high demand for the material in the past few years. So it is expected that most of the major players emerging in these areas will have a significant role to propel the market. The increase in automotive outputs, the economic growth, and the higher demand and manufacturing require raw material so the consumption of Chloroprene Rubber will increase so rapidly in the forecast period till 2025.

The major key players in the Chloroprene Rubber market are listed below:
● Asahi Kasei Chemicals Corporation
● Denka Group
● 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.
● Shanxi Synthetic Rubber Group Co. Ltd.
● Polymer-Technik Elbe Gmbh
● Maclellan Rubber Ltd.
● Zenith Rubber
● Trelleborg AB
● ARLANXEO
● Polymer-Technik Elbe Gmbh

Recent Developments
● In 2007, Shanxi Synthetic Rubber Group Co. Ltd. and Armenia irit co. Ltd. collaborated and jointly established Shanner synthetic rubber co. ltd. and by December 2009 the chloroprene rubber production plant was completed and was put into operation in May 2010. This plant gave an annual input of 30,000 tons and the production is still growing rapidly.
● In 2017, Chongqing longevity chemical co. Ltd. and Shanxi Changzhi family industrial co. Ltd. started a joint venture co-operation and built 40,000 tons of neoprene devices per year.
● In 2018, Tosoh corporation located in Shunan City in Japan proposed a rapid increase in the synthetic rubber production capacity increasing the market shares and this made it difficult for the new players to gain a stronghold in the market.
● In the past few years, several new companies have been established and the continuous growth of the industries lead to new techniques, chemical demands, and industrial equipment growth. Domestic chloroprene rubber production increased the market competition and the production capacities.
● Report Overview:
In the report analysis for the Chloroprene Rubber Market Research, the study presents a thorough analysis of the competitive landscape where the market shares of the leading players are increased and are expected to grow at a rapid rate as per the forecast period. The units are presented for shipment of the product. The opportunities, drives, and restraints in the market development have been keenly observed. The market trends and challenges are done in the report analysis. The new technologies and the emergence of the new companies have shown the specific application growth by different end-user industries.

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS 21

1.1.1 GLOBAL CHLOROPRENE RUBBER MARKET, BY GRADE 22

1.1.2 GLOBAL CHLOROPRENE RUBBER MARKET, BY APPLICATION 23

1.1.3 GLOBAL CHLOROPRENE RUBBER MARKET, BY END-USE INDUSTRY 24

2 MARKET INTRODUCTION

2.1 DEFINITION 25

2.2 SCOPE OF THE STUDY 25

2.3 MARKET STRUCTURE 25

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS 26

3.2 PRIMARY RESEARCH 27

3.3 SECONDARY RESEARCH 28

3.4 MARKET SIZE ESTIMATION 28

3.5 TOP-DOWN & BOTTOM-UP APPROACH 29

3.6 FORECAST MODEL 30

3.7 LIST OF ASSUMPTIONS 31

4 MARKET DYNAMICS

4.1 INTRODUCTION 32

4.2 DRIVERS 33

4.2.1 WIDESPREAD USE OF CHLOROPRENE RUBBER IN THE AUTOMOTIVE AND GENERAL INDUSTRIES 33

4.2.2 INCREASING APPLICATION OF CHLOROPRENE RUBBER ADHESIVE IN FOOTWEAR INDUSTRY 34

4.2.3 DRIVERS IMPACT ANALYSIS 35

4.3 RESTRAINTS 35

4.3.1 AVAILABILITY OF EFFECTIVE SUBSTITUTES 35

4.3.2 RESTRAINTS IMPACT ANALYSIS 36

4.4 OPPORTUNITIES 36

4.4.1 HEALTHY GROWTH OF THE CONSTRUCTION INDUSTRY 36

4.4.2 GROWING POPULARITY OF THE PRODUCT IN THE MANUFACTURING OF RUBBER GLOVES 37

4.5 TRENDS 38

4.5.1 NEW APPROACHES IN CHLOROPRENE RUBBER PRODUCTION AND CAPACITY EXPANSION TO TACKLE SUPPLY-DEMAND GAP 38

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS 39

5.1.1 RAW MATERIALS SUPPLIERS 39

5.1.2 CHLOROPRENE RUBBER MANUFACTURERS 39

5.1.3 DISTRIBUTION CHANNEL 40

5.1.4 END-USE INDUSTRY 40

5.2 PORTER’S FIVE FORCES MODEL 41

5.2.1 THREAT OF NEW ENTRANTS 41

5.2.2 INTENSITY OF COMPETITIVE RIVALRY 42

5.2.3 THREAT OF SUBSTITUTES 42

5.2.4 BARGAINING POWER OF SUPPLIERS 42

5.2.5 BARGAINING POWER OF BUYERS 42

5.3 TRADE INDICATORS 43

5.4 REGULATORY FRAMEWORK 45

5.5 GLOBAL RUBBER MARKET OUTLOOK 46

5.6 GLOBAL CHLOROPRENE RUBBER PRICING ANALYSIS 47

6 GLOBAL CHLOROPRENE RUBBER MARKET, BY GRADE

6.1 INTRODUCTION 48

6.2 LINEAR 50

6.3 CRYSTALLIZING RESISTANT 51

6.4 SULFUR MODIFIED 52

6.5 OTHERS 53

7 GLOBAL CHLOROPRENE RUBBER MARKET, BY APPLICATION

7.1 INTRODUCTION 54

7.2 COATINGS & ADHESIVES 56

7.3 WIRES & CABLES 57

7.4 HOSES & TUBES 58

7.5 OTHERS 59

8 GLOBAL CHLOROPRENE RUBBER MARKET, BY END-USE INDUSTRY

8.1 INTRODUCTION 61

8.2 AUTOMOTIVE 63

8.3 CONSTRUCTION 64

8.4 FURNITURE 65

8.5 ELECTRONICS 66

8.6 TEXTILE 67

8.7 OTHERS 68

9 GLOBAL CHLOROPRENE RUBBER MARKET, BY REGION

9.1 INTRODUCTION 70

9.2 NORTH AMERICA 76

9.2.1 US 79

9.2.2 CANADA 82

9.3 EUROPE 86

9.3.1 GERMANY 90

9.3.2 UK 93

9.3.3 RUSSIA 96

9.3.4 FRANCE 99

9.3.5 SPAIN 102

9.3.6 ITALY 105

9.3.7 POLAND 108

9.3.8 BELGIUM 111

9.3.9 THE NETHERLANDS 114

9.3.10 REST OF EUROPE 117

9.4 ASIA-PACIFIC 121

9.4.1 CHINA 125

9.4.2 JAPAN 128

9.4.3 INDIA 131

9.4.4 SOUTH KOREA 134

9.4.5 AUSTRALIA & NEW ZEALAND 137

9.4.6 INDONESIA 140

9.4.7 THAILAND 143

9.4.8 REST OF ASIA-PACIFIC 146

9.5 MIDDLE EAST & AFRICA 149

9.5.1 TURKEY 153

9.5.2 SAUDI ARABIA 156

9.5.3 UAE 159

9.5.4 ISRAEL 162

9.5.5 SOUTH AFRICA 165

9.5.6 REST OF THE MIDDLE EAST AND AFRICA 168

9.6 LATIN AMERICA 171

9.6.1 MEXICO 175

9.6.2 BRAZIL 178

9.6.3 ARGENTINA 181

9.6.4 REST OF LATIN AMERICA 184

10 COMPETITIVE LANDSCAPE

10.1 INTRODUCTION 187

10.2 RECENT DEVELOPMENTS, MERGERS/ACQUISITIONS 187

10.3 MARKET STRATEGY ANALYSIS 187

10.4 COMPANY MARKET SHARE ANALYSIS 188

11 COMPANY PROFILES

11.1 DENKA COMPANY LIMITED 189

11.1.1 COMPANY OVERVIEW 189

11.1.2 FINANCIAL OVERVIEW 189

11.1.3 PRODUCTS OFFERED 190

11.1.4 KEY DEVELOPMENTS 190

11.1.5 SWOT ANALYSIS 191

11.1.6 KEY STRATEGIES 191

11.2 ARLANXEO 192

11.2.1 COMPANY OVERVIEW 192

11.2.2 FINANCIAL OVERVIEW 192

11.2.3 PRODUCTS OFFERED 192

11.2.4 KEY DEVELOPMENTS 193

11.2.5 SWOT ANALYSIS 193

11.2.6 KEY STRATEGIES 193

11.3 TOSOH CORPORATION 194

11.3.1 COMPANY OVERVIEW 194

11.3.2 FINANCIAL OVERVIEW 194

11.3.3 PRODUCTS OFFERED 195

11.3.4 KEY DEVELOPMENTS 195

11.3.5 SWOT ANALYSIS 195

11.3.6 KEY STRATEGIES 196

11.4 SHOWA DENKO K.K. 197

11.4.1 COMPANY OVERVIEW 197

11.4.2 FINANCIAL OVERVIEW 197

11.4.3 PRODUCTS OFFERED 198

11.4.4 KEY DEVELOPMENTS 198

11.4.5 SWOT ANALYSIS 199

11.4.6 KEY STRATEGIES 199

11.5 SHANXI SYNTHETIC RUBBER GROUP CO LTD 200

11.5.1 COMPANY OVERVIEW 200

11.5.2 FINANCIAL OVERVIEW 200

11.5.3 PRODUCTS OFFERED 200

11.5.4 KEY DEVELOPMENTS 200

11.5.5 SWOT ANALYSIS 201

11.5.6 KEY STRATEGIES 201

11.6 CHONGQING CHANGSHOU CHEMICAL CO., LTD 202

11.6.1 COMPANY OVERVIEW 202

11.6.2 FINANCIAL OVERVIEW 202

11.6.3 PRODUCTS OFFERED 202

11.6.4 KEY DEVELOPMENTS 202

11.6.5 SWOT ANALYSIS 203

11.6.6 KEY STRATEGIES 203

11.7 TRELLEBORG AB 204

11.7.1 COMPANY OVERVIEW 204

11.7.2 FINANCIAL OVERVIEW 204

11.7.3 PRODUCTS OFFERED 205

11.7.4 KEY DEVELOPMENTS 205

11.7.5 SWOT ANALYSIS 205

11.7.6 KEY STRATEGIES 205

11.8 POLYMER-TECHNIK ELBE GMBH 206

11.8.1 COMPANY OVERVIEW 206

11.8.2 FINANCIAL OVERVIEW 206

11.8.3 PRODUCTS OFFERED 206

11.8.4 KEY DEVELOPMENTS 206

11.8.5 SWOT ANALYSIS 207

11.8.6 KEY STRATEGIES 207

11.9 MACLELLAN RUBBER LTD 208

11.9.1 COMPANY OVERVIEW 208

11.9.2 FINANCIAL OVERVIEW 208

11.9.3 PRODUCTS OFFERED 208

11.9.4 KEY DEVELOPMENTS 208

11.9.5 SWOT ANALYSIS 209

11.9.6 KEY STRATEGIES 209

11.10 ZENITH RUBBER 210

11.10.1 COMPANY OVERVIEW 210

11.10.2 FINANCIAL OVERVIEW 210

11.10.3 PRODUCTS OFFERED 210

11.10.4 KEY DEVELOPMENTS 210

11.10.5 SWOT ANALYSIS 211

11.10.6 KEY STRATEGIES 211

12 APPENDIX

12.1 REFERENCES 212

12.2 RELATED REPORTS 212

Chloroprene Rubber Market