Chloroprene Rubber (CR) Market Analysis of Sales, Revenue, Share and Growth Rate 2017-2022

The automotive industry is expected to account majority of the share over the forecast period.
Chloroprene rubber is extensively used in cables, molded goods, transmission belts and conveyor
belts. Increasing demand for these products across the manufacturing sectors is expected to boost
the market demand for chloroprene rubber over the next eight years.
Increasing automotive industry in emerging economies including India, China, and Thailand. Growing
presence of several tire manufacturing facilities coupled with high economic growth regions including
Asia and Latin America are expected to steer the rubber consumption over the forecast period.
Natural rubber and synthetic rubber are estimated to act as substitutes owing to their properties
related to chloroprene rubber. Hence these factors are expected to restrain the market growth over
the forecast period. Rising thermoplastic elastomers (TPE) consumption due to its low production cost
and wide applications is estimated to hinder the market growth.
Asia Pacific is estimated to be the fastest and largest growing market globally for chloroprene rubber
on account of increasing demand from major regions such as China, India and Thailand in several
industrial and automobile product applications. Europe and North America are expected to witness
substantial growth rate following Asia Pacific owing to rapid industrialization and increasing
population over the next eight years. Expansion and investment in R&D particularly in substituting
smoked rubber suppression technique along with vulcanization in chloroprene production
procedures owing to various benefits such as retention of nonabsorbent properties and elastic
memory estimated to offer high growth opportunities to key industry players.
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On the basis of application the global market has been segmented into adhesives, automobiles, and
industrial rubber. Chloroprene rubber is being used in coatings, binders, hoses, belts and electric wire
in automobile components, construction, window seals, and architectural rubber products, general
and industrial material. Adhesives application segment of the chloroprene rubber market is expected
to attain major share of the global demand over the next eight years on account of increasing demand
of these materials in automotive and construction industry. However, industrial rubber products such
as gaskets, hoses and belts are estimated to be the highest growing segment worldwide.
Key industry participants in the global chloroprene industry are Asahi Kasei, Denka Group, DuPont
Elastomers, Chemicals Corporation, Showa Denko K.K., Lanxess AG Dow Chemical Company. Other