A recent report published by Infinium Global Research on neoprene market provides in-depth analysis of segments and sub-segments in the global as well as regional neoprene market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional neoprene market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global neoprene market. According to the report, the global neoprene market is projected to grow at a CAGR of 4.1% over the forecast period of 2019-2025.
These rubbers are widely used in manufacturing products such as medical and sports supports. Neoprene resistance to natural gas, hydrogen gas, ammonium salts, silicone oils, mineral oils, greases, and various chemicals is a key factor that boosts the demand for neoprene-based products. The global neoprene market is expected to grow over the forecast period.
An increase in health consciousness among people and growth in fitness interest among users are the major drivers driving the growth of the neoprene market across the globe. Several advantages offered by neoprene fabric such as thermal resistance and chemical resistance, quick-drying, high stretchability and enhanced comfort drive the growth of the global neoprene fabric market across the globe. Also, an increase in participation of people in sports activities fuel the sales of overall performance wear including neoprene fabric outfits, that in turn boosts the market growth. However, the unstable cost of raw materials and the high cost of designing may hamper the growth of the global neoprene market. The increasing demand for neoprene across different end user industries is anticipated to create an opportunity for the growth of the neoprene market in the next few years.
In terms of region, the neoprene market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Among all, Asia-Pacific is leading the global market and is expected to dominate the market during the forecast period. This is attributed to the high demand from the automotive industry. India, China, and Japan are the major producers and consumers for neoprene in the Asia-Pacific region. North America is expected to grow at a beneficial rate in the neoprene market during the forecast period due to technological advancements in the region. The neoprene market in Europe is projected to expand due to the global rise in the construction and automotive industry.
The report on global neoprene market covers segments such as manufacturing route, grade, application, and end user. On the basis of manufacturing route, the sub-markets include butadiene route, and acetylene route. On the basis of grade, the sub-markets include general-purpose grade neoprene, pre-crosslinked grade neoprene, sulfur-modified grade neoprene, and slow crystallizing grade neoprene. On the basis of application, the sub-markets include technical rubber, adhesives industry, and latex industry. On the basis of end user, the sub-markets include automotive, manufacturing, consumer goods, and medical.
The report provides profiles of the companies in the market such as Pidilite Industries, TuHuang Chemical Co., Covestro AG, Shanxi Synthetic Rubber Group Co Ltd., Lanxess, Tosoh Corporation, Zenith Rubber, Ltd, BGK GmbH Endlosband, The 3M Company, and Sundow Polymers Co., Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of neoprene market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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