The global market for chloroprene rubber market was valued at USD 1.9 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% over the course of the forecast period. Demand for strong, high-performing materials is rising in the construction and automotive sectors. The market for chloroprene is expanding due to improvements in manufacturing technology and a growing focus on using sustainable and eco-friendly products. The market is expanding due to the growing need for weather-resistant products and the increasing use of chloroprene rubber in electric vehicles.

The market's growth may be hampered by the growing use of less expensive elastomers and their many applications. Following the pandemic, there has been an increase in demand for protective clothing, like as gloves, wetsuits, and other rubber-based personal equipment.

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Growth Drivers

In developing nations, urbanization is at its height, and the resulting increase in disposable income has greatly accelerated market expansion. Because of its many qualities, including its resilience to heat, oil, and chemicals, chloroprene rubber finds extensive usage in the industrial and construction sectors. Both the electronics and textile industries benefit from chloroprene rubber.

The automotive industry is seeing tremendous expansion due to increased urbanization and industrialization, and the need for chloroprene rubbers is being driven by the growing production of electric vehicles. Chloroprene rubbers are frequently used in the textile industry to protect its constituent parts.

Segmentation

By Application

·         Automotive

·         Electrical & Electronics

·         Construction

·         Medical

·         Textile

·         Others

By Type

·         Acetylene Method

·         Butadiene Method

By Grade

·         General Purpose Grade

·         Special Purpose Grade

By Region

·         Asia-Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa 

Key Players

·         DuPont Performance Elastomer

·         Showa Denko K.K.

·         Denka Group

·         Shanxi Synthetic Rubber Group Co. Ltd.

·         Tosoh Corporation

·         Nairit Plant CJSC

·         Zenith Industrial Rubber Products Pvt. Ltd.

·         Asahi Kasei Chemicals Corporation

·         Dow Chemical Company.

·         ARLANXEO

·         SEDO Chemicals Neoprene GmbH

·         Qingdao Nova Rubber

·         Other Players

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