ver the last decades, the global rubber industry has witnessed a rapid growth due to its bulk as well as innovative and constantly growing end-use applications. The rubber industry is among the ever growing industries across the globe owing to its significantly versatile properties which can support its effective utilization in a number of end-use industries. Rubber has low thermal conductivity and is useful in reducing heat transfer. It can reduce noise and vibration, and acts as an insulator. Along with these advantages, it provides excellent resistance to oil, chemical and heat and is used in a wide range of applications. It also offers high ultra violet and ozone resistance. Various types of rubbers are used for various applications in industries as well as for domestic purposes. Each rubber type possesses some distinctive desirable properties. Polychloroprene is a widely used rubber which exhibits excellent properties that give it an edge over other rubber types. Polychloroprene is a synthetic rubber and is produced by the polymerization of chloroprene. Polychloroprene rubber is soft, flexible and durable. It is a synthetic spongy rubber that possesses various unique characteristics, such as water and weather resistance, and thermal and moisture insulation; additionally, it is light weight, and latex free. Polychloropene rubber is extensively used in gaskets, pads, bumpers, conveyor belts, insulators, and many more. Polychloropene rubber is capable of dampening shock and vibrations in vertical, as well as lateral positions. Owing to its vast application portfolio, the market for polychloroprene rubber is expected to witness a stable growth rate over the coming years.
Polychloropene Rubber Market: Dynamics
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The market for polychloroprene rubber is expected to represent sustainable growth opportunities over the forecast period of 2017–2027 in the global market. Factors such as sophisticated technological development and high requirement for functionality and safety in industrial products are expected to boost the demand for polychloroprene rubber through 2027. Regulations pertaining to the use of polychloroprene rubber in various applications and availability of raw materials in specified timeframe are the key challenges for market participants. Manufacturers’ bent towards increasing mergers and acquisitions and product development are among the key trends in the global polychloroprene rubber market. On the basis of geographical regions, high consumption of polychloroprene is expected to translate to significant demand in Asia the Pacific. The region is expected to create a benchmark for all other regions by growing with a healthy CAGR over the forecast period.
Polychloropene Rubber Market: Segmentation
Out of the many ways by which the global polychloroprene rubber market can be segmented is on the basis of product type and application.
On the basis of product types, the polychloroprene rubber market can be segmented as follows:
- Polychloropene Rubber Pad
- Polychloropene Rubber Sheet
On the basis of application, the polychloroprene rubber market can be segmented as follows:
- Automotive & Aerospace
- Wire & Cables
Polychloroprene Rubber Market: Regional Outlook
Globally, the market for polychloroprene rubber is expected to grow at a healthy CAGR during the forecast period. In developed and industrialized regions such as North America and Europe, quality of the product as well as safety regulations pertaining to end-use applications are expected to be the key driving and differentiating factors for the product demand. In the APEJ region, especially in India and China, market is expected to be primarily volume driven characterized by high consumption. Globally, the Indian rubber industry stands fourth in terms of rubber production and second in terms of rubber consumption, which denotes significant potential for key players in the polychloroprene rubber market as well in the Indian sub-continent.
Attributing to the increasing adoption of sustainable technology in production globally, the polychloroprene rubber market is projected to grow at a significantly high CAGR during the forecast period. Furthermore, new production technologies and inventions in polychloroprene rubber end-uses will foster its growth in the global market.
Polychloroprene Rubber Market: Market Participants
Examples of some of the key market participants identified across the value chain of polychloroprene rubber market are as follows:
- Macro International Co.
- ACRO Industries
- Canada Rubber Group
- AJ Rubber & Sponge Ltd.
- Martin’s Rubber Company
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