Neoprene Market 2020 | Top Key Players - Denka Company Limited, TuHuang Chemical Co, Shanxi Synthetic Rubber Group Co Ltd

In the latest research report compiled by Global Market Insights, Inc., neoprene market size is likely to surpass US$2.28 bn by 2025.

Neoprene market has become popular as a versatile elastomer and its physical and chemical attributes have made it chemical, heat, oil, and ozone resistant. Besides, tremendous elastic metal bonding ability has made it a trendy product in automotive and medical spaces.

Application of neoprene in manufacturing of tires, protective gears, gloves and aprons has become more pronounced in recent years. Stakeholders have cited quick strength buildup in the light of robust crystallization to provide neoprene-based adhesives a competitive edge over other rubber-based adhesives.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/2627

Trend stemming from neoprene rubber

Neoprene rubber has been setting the trend in a slew of applications and it is being desirable for sealing electrical applications. Neoprene rubber is gradually going mainstream and is proving to be lucrative in medical, electronics, and sports applications.

Several end-markets are expanding the penetration of electrical products by including neoprene in their portfolio to encase electrical products and provide protection and padding. Further, traction for neoprene for mobile phone cases and sleeves has also surged in recent years.

Neoprene rubber is being perceived as an apt material for elbow, wrist to provide comfort and support. Accordingly, several sportspersons are using medical braces and supports and are even using it in shoes for additional padding for insoles.

Impressive demand in automotive sector to stimulate growth

Neoprene products are profoundly being used in automotive sector for exposed parts which can encounter petroleum or oil. With low compression, oil, and weathering resistance and high tensile strength, neoprene is likely to provide an attractive revenue opportunity in automotive, construction and food industries.

Automotive sector is poised to be one of the major recipients of neoprene market as the rubber is being used in power transmission belts, vibration mounts, breaking & steering system and shock absorber seals.

Palpability of neoprene-based solvent-borne adhesives is being observed in the manufacturing of automotive trim, furniture, kitchen cabinets and high pressure laminates. Prominently, formulated into latex emulsions and adhesives, neoprene market is gaining traction in rubber personal protection garments such as shoes, gloves and wetsuits.

Opportunities in APAC

Expanding penetration of neoprene rubber in APAC has augured well for stakeholders as they look to have a competitive edge in the industry. Notably, growth of automotive sector in the region is likely to stimulate production of neoprene.

Request for customization @ https://www.gminsights.com/roc/2627

End-users are reaping benefits of neoprene to make automotive parts for they are oil, solvent, weather, abrasion, tear and oil resistant. Accordingly, neoprene is exhibiting compelling demand in hose covers, window and door seals, shock absorbers seals and vibration mounts.

High cost – a possible restraint

High cost of neoprene and availability of substitutes may derail the growth of the industry. Moreover, stakeholders will look to use advanced technology to have a competitive edge in the industry.

With a strong growth in the auto industry and surge in demand for ideal rubber, businesses are likely to infuse funds in neoprene portfolio. North America and APAC are expected to be favorable investment destinations through 2025.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

This release was published on openPR.