Neoprene Market Analysis

Neoprene Market Analysis

Neoprene rubber sheet was the largest product segment in 2018 and is anticipated to follow the same trend during the forecast years. The product offers excellent properties such as low compression set, excellent resilience and abrasion resistance and advanced resistance to ultraviolet and ozone radiations. These properties make them ideal for their use in seals, gaskets, building insulations and liners in the automotive, electrical and construction industries. Neoprene latex segment is likely to be the second largest segment during the assessment period in terms of volume and value. These latex products are widely used in manufacturing gloves and adhesives which, in turn, are used in automotive, building & construction and electrical & electronics industry.

Neoprene market for automotive shall witness maximum gains over the forecast timespan. The rising demand for automobile in Asia Pacific and the Middle East has led to a burgeoning rise in product demand in the automobile sector. Moreover, growing construction business in parts of Middle East is also expected to positively impact product demand in the coming years. Furthermore, the increasing adoption of neoprene foam in the aquatic sports gear shall propel the global market growth over the forecast timespan.
 

Asia Pacific accounted for the largest share in global neoprene market, both in terms of value and volume. Neoprene manufactured in Asia Pacific are supplied through a vast distribution mode such as retailers, wholesalers and online portals. Latin America is likely to be one of the fastest growing regions in the global market. This can be attributed by the rapidly growing automobile sector in Brazil and Mexico. In addition, the Middle East is also expected to be a major revenue pocket for the market during the forecast period. The burgeoning construction sector is expected to bring about a major growth for neoprene industry in near future.
 

Asia Pacific accounted for the largest share in global neoprene market, both in terms of value and volume. Neoprene manufactured in Asia Pacific are supplied through a vast distribution mode such as retailers, wholesalers and online portals. Latin America is likely to be one of the fastest growing regions in global neoprene market. This can be attributed by the rapidly growing automobile sector in Brazil and Mexico. In addition, the Middle East is also expected to be a major revenue pocket for the neoprene market during the forecast period. The burgeoning construction sector is expected to bring about a major growth for neoprene industry in near future.