How much is the chloroprene rubber market worth, and how is it expected to expand?
The chloroprene rubber market size has grown rapidly in recent years. It will grow from $1.56 $ billion in 2024 to $1.74 $ billion in 2025 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to rapid industrial growth, expansion of the automotive industry, rising construction activities, rising consumer goods manufacturing, and growth in the chemical industry.
The chloroprene rubber market size is expected to see rapid growth in the next few years. It will grow to $2.62 $ billion in 2029 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to increasing demand for protective gear, rising demand for wetsuits and sportswear, use in medical devices and equipment, growth in chemical processing applications, and demand for high-performance elastomers. Major trends in the forecast period include technological advancements, product diversification, digital transformation, an increased focus on recycling and reusing, and increased market penetration in emerging economies.
Get Your Free Sample of The Global Chloroprene Rubber Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=19368&type=smp
Which industry factors have accelerated the chloroprene rubber market’s expansion?
The growth in the construction sector is expected to propel the growth of the chloroprene rubber market going forward. The construction sector involves the planning, designing, and building of infrastructure, including residential, commercial, and industrial structures, roads, bridges, and other public works. The construction sector’s growth is due to rising population and urbanization, increased government infrastructure spending, economic development, technological advancements in construction methods, and a heightened focus on sustainable and green building practices. Chloroprene rubber, commonly known as Neoprene, is widely used in construction due to its excellent durability, flexibility, and resistance to environmental factors. Chloroprene rubber’s resistance to aging, Chemicals, and extreme temperatures makes it a valuable material for various applications, contributing to the longevity and reliability of building structures. For instance, in August 2024, according to a report published by the US Census Bureau, a US-based government agency, the value of construction operations for residential projects in the US increased from $875,539 million in June 2023 to $939,806 million in June 2024. Therefore, the growth in the construction sector is expected to propel the chloroprene rubber market.
What are the primary segments of the chloroprene rubber market?
The chloroprene rubbermarket covered in this report is segmented –
1) By Type: Acetylene Method, Butadiene Method
2) By Grade: Linear, Cross-Linked, Sulfur Modified, Crystallizing Resistant, Other Grades
3) By Application: Coating And Adhesives, Wires And Cables, Hoses And Tubes, Other Applications
4) By End-Use Industry: Automotive, Construction, Furniture, Electronics, Textile, Other End User Industries
Subsegment:
1) By 500 and Above Liters: Commercial Chest Freezers, Industrial Chest Freezers
2) By 300 to 500 Liters: Medium-Sized Chest Freezers, Large Household Chest Freezers
3) By 200 to 300 Liters: Standard Household Chest Freezers, Mid-Sized Commercial Chest Freezers
4) By 200 and Below Liters: Compact Chest Freezers, Small Household Chest Freezers, Portable Chest Freezers
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/chloroprene-rubber-global-market-report
Which firms are leading the chloroprene rubber market?
Major companies operating in the chloroprene rubber market are Sinopec Group, SABIC, Goodyear Chemical, Mitsui Chemicals Inc., Freudenberg Group, Resonac Holdings Corporation, Celanese Corporation, Avery Dennison Corporation, LANXESS AG, Tosoh Corporation, ContiTech Deutschland GmbH, Toyoda Gosei Co. Ltd., Kumho Petrochemical, Hutchinson SA, Trelleborg AB, Denka Company Limited, Cooper-Standard Holdings Inc., Zeon Corporation, ARLANXEO, Pidilite Industries Ltd., Zenith Industrial Rubber Products Pvt. Ltd.
Which market trends are set to define the future of the chloroprene rubber market?
Major companies in the chloroprene rubber market are focusing on developing innovative products, such as chloroprene latex formulations, to offer a cost-effective alternative for foam bonding in upholstery and furniture. Chloroprene latex formulation is a specialized chemical blend designed to enhance the properties of chloroprene latex, improving its performance in applications such as adhesives, coatings, and elastomeric products by increasing durability, flexibility, and resistance to various environmental factors. For instance, in September 2022, Showa Denko, a Japan-based petrochemical company, launched a new type of chloroprene latex called SD88. This offers enhanced initial adhesion with a lower solid content, making it a cost-effective solution for foam bonding in demanding applications such as upholstery and furniture. Additionally, it ensures high-temperature resistance and excellent storage stability, providing a reliable alternative to existing products such as the SD77S and SD100.
Which geographic trends are shaping the chloroprene rubber market, and which region has the highest market share?
Asia-Pacific was the largest region in the chloroprene rubber market in 2024. The regions covered in the chloroprene rubber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Chloroprene Rubber Market Report 2025 Offer?
The chloroprene rubber market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Chloroprene rubber, also known as Neoprene, is a type of synthetic rubber made by polymerizing chloroprene (2-chloro-1,3-butadiene). It is known for its durability, flexibility, and resistance to various environmental factors such as heat, oil, Chemicals, and weathering. These properties make chloroprene rubber suitable for various industrial and consumer applications.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=19368
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
